10-Q 1 frme-20220630.htm 10-Q frme-20220630
000071253412/312022Q2FALSEhttp://fasb.org/us-gaap/2022#AccountingStandardsUpdate201613Member0.010.0100007125342022-01-012022-06-300000712534us-gaap:CommonStockMember2022-01-012022-06-300000712534frme:DepositarySharesMember2022-01-012022-06-3000007125342022-08-03xbrli:shares00007125342022-06-30iso4217:USD00007125342021-12-310000712534us-gaap:CumulativePreferredStockMember2021-12-31iso4217:USDxbrli:shares0000712534us-gaap:CumulativePreferredStockMember2022-06-300000712534us-gaap:SeriesAPreferredStockMember2022-06-300000712534us-gaap:SeriesAPreferredStockMember2021-12-3100007125342022-04-012022-06-3000007125342021-04-012021-06-3000007125342021-01-012021-06-300000712534us-gaap:DepositAccountMember2022-04-012022-06-300000712534us-gaap:DepositAccountMember2021-04-012021-06-300000712534us-gaap:DepositAccountMember2022-01-012022-06-300000712534us-gaap:DepositAccountMember2021-01-012021-06-300000712534us-gaap:FiduciaryAndTrustMember2022-04-012022-06-300000712534us-gaap:FiduciaryAndTrustMember2021-04-012021-06-300000712534us-gaap:FiduciaryAndTrustMember2022-01-012022-06-300000712534us-gaap:FiduciaryAndTrustMember2021-01-012021-06-300000712534us-gaap:CreditCardMember2022-04-012022-06-300000712534us-gaap:CreditCardMember2021-04-012021-06-300000712534us-gaap:CreditCardMember2022-01-012022-06-300000712534us-gaap:CreditCardMember2021-01-012021-06-300000712534frme:DerivativeHedgingMember2022-04-012022-06-300000712534frme:DerivativeHedgingMember2021-04-012021-06-300000712534frme:DerivativeHedgingMember2022-01-012022-06-300000712534frme:DerivativeHedgingMember2021-01-012021-06-300000712534us-gaap:FinancialServiceOtherMember2022-04-012022-06-300000712534us-gaap:FinancialServiceOtherMember2021-04-012021-06-300000712534us-gaap:FinancialServiceOtherMember2022-01-012022-06-300000712534us-gaap:FinancialServiceOtherMember2021-01-012021-06-300000712534us-gaap:PreferredStockMemberus-gaap:CumulativePreferredStockMember2022-03-310000712534us-gaap:PreferredStockMemberus-gaap:NoncumulativePreferredStockMember2022-03-310000712534us-gaap:CommonStockMember2022-03-310000712534us-gaap:AdditionalPaidInCapitalMember2022-03-310000712534us-gaap:RetainedEarningsMember2022-03-310000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100007125342022-03-310000712534us-gaap:RetainedEarningsMember2022-04-012022-06-300000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000712534us-gaap:PreferredStockMemberus-gaap:NoncumulativePreferredStockMember2022-04-012022-06-300000712534us-gaap:CommonStockMember2022-04-012022-06-300000712534us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300000712534us-gaap:PreferredStockMemberus-gaap:CumulativePreferredStockMember2022-06-300000712534us-gaap:PreferredStockMemberus-gaap:NoncumulativePreferredStockMember2022-06-300000712534us-gaap:CommonStockMember2022-06-300000712534us-gaap:AdditionalPaidInCapitalMember2022-06-300000712534us-gaap:RetainedEarningsMember2022-06-300000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000712534us-gaap:PreferredStockMemberus-gaap:CumulativePreferredStockMember2021-03-310000712534us-gaap:CommonStockMember2021-03-310000712534us-gaap:AdditionalPaidInCapitalMember2021-03-310000712534us-gaap:RetainedEarningsMember2021-03-310000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100007125342021-03-310000712534us-gaap:RetainedEarningsMember2021-04-012021-06-300000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000712534us-gaap:CommonStockMember2021-04-012021-06-300000712534us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300000712534us-gaap:PreferredStockMemberus-gaap:CumulativePreferredStockMember2021-06-300000712534us-gaap:CommonStockMember2021-06-300000712534us-gaap:AdditionalPaidInCapitalMember2021-06-300000712534us-gaap:RetainedEarningsMember2021-06-300000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-3000007125342021-06-300000712534us-gaap:PreferredStockMemberus-gaap:CumulativePreferredStockMember2021-12-310000712534us-gaap:PreferredStockMemberus-gaap:NoncumulativePreferredStockMember2021-12-310000712534us-gaap:CommonStockMember2021-12-310000712534us-gaap:AdditionalPaidInCapitalMember2021-12-310000712534us-gaap:RetainedEarningsMember2021-12-310000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000712534us-gaap:RetainedEarningsMember2022-01-012022-06-300000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000712534us-gaap:PreferredStockMemberus-gaap:NoncumulativePreferredStockMember2022-01-012022-06-300000712534us-gaap:CommonStockMember2022-01-012022-06-300000712534us-gaap:AdditionalPaidInCapitalMember2022-01-012022-06-300000712534us-gaap:PreferredStockMemberus-gaap:CumulativePreferredStockMember2020-12-310000712534us-gaap:CommonStockMember2020-12-310000712534us-gaap:AdditionalPaidInCapitalMember2020-12-310000712534us-gaap:RetainedEarningsMember2020-12-310000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-3100007125342020-12-3100007125342020-01-012020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310000712534us-gaap:PreferredStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CumulativePreferredStockMember2020-12-310000712534us-gaap:CommonStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534us-gaap:AdditionalPaidInCapitalMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534us-gaap:RetainedEarningsMember2021-01-012021-06-300000712534us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000712534us-gaap:CommonStockMember2021-01-012021-06-300000712534us-gaap:AdditionalPaidInCapitalMember2021-01-012021-06-300000712534us-gaap:PreferredStockMember2022-01-012022-06-300000712534us-gaap:PreferredStockMember2021-01-012021-06-300000712534frme:LevelOneBancorpIncMember2022-04-01xbrli:pure0000712534frme:LevelOneBancorpIncMember2022-04-012022-04-01frme:banking_center0000712534frme:LevelOneBancorpIncMemberus-gaap:CommonStockMember2022-04-012022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:PreferredClassBMember2022-04-012022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:SeriesAPreferredStockMember2022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:SeriesAPreferredStockMember2022-04-012022-04-010000712534us-gaap:OtherIntangibleAssetsMemberfrme:LevelOneBancorpIncMember2022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:CoreDepositsMember2022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:CoreDepositsMember2022-04-012022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:NoncompeteAgreementsMember2022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:NoncompeteAgreementsMember2022-04-012022-04-010000712534frme:LevelOneBancorpIncMemberus-gaap:AcquisitionRelatedCostsMember2022-04-010000712534frme:LevelOneBancorpIncMemberfrme:AcquisitionRelatedCostsProfessionalAndOtherOutsideServicesMember2022-04-010000712534frme:LevelOneBancorpIncMemberfrme:AcquisitionRelatedCostsSalariesAndBenefitsMember2022-04-010000712534frme:HoosierTrustCompanyMember2022-04-010000712534frme:HoosierTrustCompanyMember2021-04-012021-04-010000712534frme:HoosierTrustCompanyMember2021-04-010000712534frme:LevelOneBancorpIncMember2022-04-012022-06-300000712534frme:LevelOneBancorpIncMember2022-01-012022-06-300000712534frme:LevelOneBancorpIncMember2021-01-012021-12-310000712534frme:LevelOneBancorpIncMemberus-gaap:PreferredClassBMember2022-04-010000712534us-gaap:PreferredClassBMember2022-04-010000712534us-gaap:USTreasurySecuritiesMember2022-06-300000712534us-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-06-300000712534us-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-06-300000712534us-gaap:CorporateDebtSecuritiesMember2022-06-300000712534us-gaap:USTreasurySecuritiesMember2021-12-310000712534us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-12-310000712534us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000712534us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000712534us-gaap:CorporateDebtSecuritiesMember2021-12-310000712534us-gaap:ForeignGovernmentDebtSecuritiesMember2022-06-300000712534us-gaap:ForeignGovernmentDebtSecuritiesMember2021-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-01-010000712534srt:MoodysAaaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysAaaRatingMember2022-06-300000712534srt:MoodysAaaRatingMember2022-06-300000712534srt:MoodysAa1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysAa1RatingMember2022-06-300000712534srt:MoodysAa1RatingMember2022-06-300000712534srt:MoodysAa2RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysAa2RatingMember2022-06-300000712534srt:MoodysAa2RatingMember2022-06-300000712534srt:MoodysAa3RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysAa3RatingMember2022-06-300000712534srt:MoodysAa3RatingMember2022-06-300000712534srt:MoodysA1RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysA1RatingMember2022-06-300000712534srt:MoodysA1RatingMember2022-06-300000712534srt:MoodysA2RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysA2RatingMember2022-06-300000712534srt:MoodysA2RatingMember2022-06-300000712534srt:MoodysA3RatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMembersrt:MoodysA3RatingMember2022-06-300000712534srt:MoodysA3RatingMember2022-06-300000712534frme:NonRatedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMemberfrme:NonRatedMember2022-06-300000712534frme:NonRatedMember2022-06-300000712534us-gaap:OtherDebtSecuritiesMember2022-06-30frme:security0000712534frme:InvestmentsInDebtAndEquitySecuritiesReportedAtLessThanHistoricalCostMember2022-06-300000712534frme:InvestmentsInDebtAndEquitySecuritiesReportedAtLessThanHistoricalCostMember2021-12-310000712534frme:CommercialAndIndustrialLoansMember2022-06-300000712534frme:CommercialAndIndustrialLoansMember2021-12-310000712534frme:FarmingAndAgricultureMember2022-06-300000712534frme:FarmingAndAgricultureMember2021-12-310000712534us-gaap:ConstructionLoansMember2022-06-300000712534us-gaap:ConstructionLoansMember2021-12-310000712534frme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534frme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMember2021-12-310000712534us-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:ConsumerLoanMember2021-12-310000712534frme:PublicFinanceandOtherCommercialLoansMember2022-06-300000712534frme:PublicFinanceandOtherCommercialLoansMember2021-12-310000712534frme:PaycheckProtectionProgramCARESActMember2022-06-300000712534frme:PaycheckProtectionProgramCARESActMember2021-12-310000712534frme:LevelOneBancorpIncMemberfrme:PaycheckProtectionProgramCARESActMember2022-06-300000712534us-gaap:PassMemberfrme:CommercialAndIndustrialLoansMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2022-06-300000712534us-gaap:PassMemberfrme:FarmingAndAgricultureMember2022-06-300000712534frme:FarmingAndAgricultureMemberus-gaap:SpecialMentionMember2022-06-300000712534frme:FarmingAndAgricultureMemberus-gaap:SubstandardMember2022-06-300000712534us-gaap:PassMemberus-gaap:ConstructionLoansMember2022-06-300000712534us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2022-06-300000712534us-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2022-06-300000712534us-gaap:PassMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:SpecialMentionMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:SubstandardMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:DoubtfulMember2022-06-300000712534us-gaap:PassMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:SpecialMentionMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:ResidentialRealEstateMemberus-gaap:SubstandardMember2022-06-300000712534us-gaap:PassMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:SpecialMentionMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:SubstandardMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:PassMemberus-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:SpecialMentionMemberus-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:SubstandardMemberus-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:PassMemberfrme:PublicFinanceandOtherCommercialLoansMember2022-06-300000712534us-gaap:PassMemberfrme:CommercialAndIndustrialLoansMember2021-12-310000712534frme:CommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2021-12-310000712534frme:CommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2021-12-310000712534us-gaap:PassMemberfrme:FarmingAndAgricultureMember2021-12-310000712534frme:FarmingAndAgricultureMemberus-gaap:SpecialMentionMember2021-12-310000712534frme:FarmingAndAgricultureMemberus-gaap:SubstandardMember2021-12-310000712534us-gaap:PassMemberus-gaap:ConstructionLoansMember2021-12-310000712534us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2021-12-310000712534us-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2021-12-310000712534us-gaap:PassMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:SpecialMentionMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:SubstandardMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2021-12-310000712534us-gaap:PassMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:SpecialMentionMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:ResidentialRealEstateMemberus-gaap:SubstandardMember2021-12-310000712534us-gaap:PassMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:SpecialMentionMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:SubstandardMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:PassMemberus-gaap:ConsumerLoanMember2021-12-310000712534us-gaap:SpecialMentionMemberus-gaap:ConsumerLoanMember2021-12-310000712534us-gaap:PassMemberfrme:PublicFinanceandOtherCommercialLoansMember2021-12-310000712534us-gaap:FinancialAssetPastDueMember2022-06-300000712534us-gaap:FinancialAssetPastDueMember2022-01-012022-06-300000712534us-gaap:FinancialAssetPastDueMember2021-12-310000712534us-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivables60To89DaysPastDueMember2022-01-012022-06-300000712534frme:CommercialAndNonOwnerOccupiedCommercialRealEstateLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-01-012021-12-31frme:loan0000712534frme:CommercialAndNonOwnerOccupiedCommercialRealEstateLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534frme:CommercialAndIndustrialLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:CommercialAndIndustrialLoansMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:CommercialAndIndustrialLoansMember2022-06-300000712534frme:FarmingAndAgricultureMemberus-gaap:FinancialAssetNotPastDueMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:FarmingAndAgricultureMember2022-06-300000712534frme:FarmingAndAgricultureMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:FarmingAndAgricultureMember2022-06-300000712534us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConstructionLoansMember2022-06-300000712534us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2022-06-300000712534us-gaap:FinancialAssetNotPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:FinancingReceivables60To89DaysPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:CommercialRealEstateOwnerOccupiedMember2022-06-300000712534us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerLoanMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2022-06-300000712534frme:PublicFinanceandOtherCommercialLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:PublicFinanceandOtherCommercialLoansMember2022-06-300000712534frme:PublicFinanceandOtherCommercialLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:PublicFinanceandOtherCommercialLoansMember2022-06-300000712534us-gaap:FinancialAssetNotPastDueMember2022-06-300000712534us-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-300000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:CommercialAndIndustrialLoansMember2021-12-310000712534frme:CommercialAndIndustrialLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:CommercialAndIndustrialLoansMember2021-12-310000712534frme:FarmingAndAgricultureMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:FarmingAndAgricultureMember2021-12-310000712534frme:FarmingAndAgricultureMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:FarmingAndAgricultureMember2021-12-310000712534us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConstructionLoansMember2021-12-310000712534us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2021-12-310000712534us-gaap:FinancialAssetNotPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:FinancingReceivables60To89DaysPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:CommercialRealEstateOwnerOccupiedMember2021-12-310000712534us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:ResidentialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerLoanMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerLoanMember2021-12-310000712534us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerLoanMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2021-12-310000712534frme:PublicFinanceandOtherCommercialLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMemberfrme:PublicFinanceandOtherCommercialLoansMember2021-12-310000712534frme:PublicFinanceandOtherCommercialLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberfrme:PublicFinanceandOtherCommercialLoansMember2021-12-310000712534us-gaap:FinancialAssetNotPastDueMember2021-12-310000712534us-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000712534us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000712534frme:LevelOneBancorpIncMember2022-06-300000712534us-gaap:CommercialRealEstateMemberfrme:CommercialAndIndustrialLoansMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534frme:CommercialAndIndustrialLoansMemberfrme:OtherCollateralHeldMember2022-06-300000712534us-gaap:CollateralPledgedMemberfrme:CommercialAndIndustrialLoansMember2022-06-300000712534us-gaap:CommercialRealEstateMemberus-gaap:ConstructionLoansMember2022-06-300000712534us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534us-gaap:ConstructionLoansMemberfrme:OtherCollateralHeldMember2022-06-300000712534us-gaap:CollateralPledgedMemberus-gaap:ConstructionLoansMember2022-06-300000712534us-gaap:CommercialRealEstateMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:ResidentialRealEstateMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534frme:OtherCollateralHeldMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:CollateralPledgedMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000712534us-gaap:CommercialRealEstateMemberfrme:CommercialRealEstateOwnerOccupiedMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:ResidentialRealEstateMember2022-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberfrme:OtherCollateralHeldMember2022-06-300000712534us-gaap:CollateralPledgedMemberfrme:CommercialRealEstateOwnerOccupiedMember2022-06-300000712534us-gaap:CommercialRealEstateMemberus-gaap:RealEstateLoanMember2022-06-300000712534us-gaap:ResidentialRealEstateMemberus-gaap:RealEstateLoanMember2022-06-300000712534us-gaap:RealEstateLoanMemberfrme:OtherCollateralHeldMember2022-06-300000712534us-gaap:RealEstateLoanMember2022-06-300000712534us-gaap:CollateralPledgedMemberus-gaap:RealEstateLoanMember2022-06-300000712534us-gaap:CommercialRealEstateMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:ResidentialRealEstateMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:HomeEquityLoanMemberfrme:OtherCollateralHeldMember2022-06-300000712534us-gaap:CollateralPledgedMemberus-gaap:HomeEquityLoanMember2022-06-300000712534us-gaap:CommercialRealEstateMember2022-06-300000712534us-gaap:ResidentialRealEstateMember2022-06-300000712534frme:OtherCollateralHeldMember2022-06-300000712534us-gaap:CollateralPledgedMember2022-06-300000712534us-gaap:CommercialRealEstateMemberfrme:CommercialAndIndustrialLoansMember2021-12-310000712534frme:CommercialAndIndustrialLoansMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534frme:CommercialAndIndustrialLoansMemberfrme:OtherCollateralHeldMember2021-12-310000712534us-gaap:CollateralPledgedMemberfrme:CommercialAndIndustrialLoansMember2021-12-310000712534us-gaap:CommercialRealEstateMemberfrme:FarmingAndAgricultureMember2021-12-310000712534frme:FarmingAndAgricultureMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534frme:FarmingAndAgricultureMemberfrme:OtherCollateralHeldMember2021-12-310000712534us-gaap:CollateralPledgedMemberfrme:FarmingAndAgricultureMember2021-12-310000712534us-gaap:CommercialRealEstateMemberus-gaap:ConstructionLoansMember2021-12-310000712534us-gaap:ConstructionLoansMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534us-gaap:ConstructionLoansMemberfrme:OtherCollateralHeldMember2021-12-310000712534us-gaap:CollateralPledgedMemberus-gaap:ConstructionLoansMember2021-12-310000712534us-gaap:CommercialRealEstateMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:ResidentialRealEstateMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534frme:OtherCollateralHeldMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:CollateralPledgedMemberfrme:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000712534us-gaap:CommercialRealEstateMemberfrme:CommercialRealEstateOwnerOccupiedMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:ResidentialRealEstateMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMemberfrme:OtherCollateralHeldMember2021-12-310000712534us-gaap:CollateralPledgedMemberfrme:CommercialRealEstateOwnerOccupiedMember2021-12-310000712534us-gaap:CommercialRealEstateMemberus-gaap:RealEstateLoanMember2021-12-310000712534us-gaap:ResidentialRealEstateMemberus-gaap:RealEstateLoanMember2021-12-310000712534us-gaap:RealEstateLoanMemberfrme:OtherCollateralHeldMember2021-12-310000712534us-gaap:RealEstateLoanMember2021-12-310000712534us-gaap:CollateralPledgedMemberus-gaap:RealEstateLoanMember2021-12-310000712534us-gaap:CommercialRealEstateMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:ResidentialRealEstateMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:HomeEquityLoanMemberfrme:OtherCollateralHeldMember2021-12-310000712534us-gaap:CollateralPledgedMemberus-gaap:HomeEquityLoanMember2021-12-310000712534us-gaap:CommercialRealEstateMember2021-12-310000712534us-gaap:ResidentialRealEstateMember2021-12-310000712534frme:OtherCollateralHeldMember2021-12-310000712534us-gaap:CollateralPledgedMember2021-12-310000712534frme:CommercialRealEstateOwnerOccupiedMember2021-04-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:ExtendedMaturityMember2021-04-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberfrme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-04-012021-06-300000712534us-gaap:ResidentialRealEstateMember2021-04-012021-06-300000712534us-gaap:ExtendedMaturityMemberus-gaap:ResidentialRealEstateMember2021-04-012021-06-300000712534us-gaap:ResidentialRealEstateMemberfrme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-04-012021-06-300000712534us-gaap:ExtendedMaturityMember2021-04-012021-06-300000712534frme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-04-012021-06-300000712534us-gaap:ResidentialRealEstateMember2022-01-012022-06-300000712534us-gaap:ContractualInterestRateReductionMemberus-gaap:ResidentialRealEstateMember2022-01-012022-06-300000712534us-gaap:ContractualInterestRateReductionMember2022-01-012022-06-300000712534frme:CommercialAndIndustrialLoansMember2021-01-012021-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:ExtendedMaturityMember2021-01-012021-06-300000712534frme:CommercialAndIndustrialLoansMemberus-gaap:ContractualInterestRateReductionMember2021-01-012021-06-300000712534frme:CommercialAndIndustrialLoansMemberfrme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-01-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMember2021-01-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:ExtendedMaturityMember2021-01-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberus-gaap:ContractualInterestRateReductionMember2021-01-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMemberfrme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-01-012021-06-300000712534us-gaap:ResidentialRealEstateMember2021-01-012021-06-300000712534us-gaap:ExtendedMaturityMemberus-gaap:ResidentialRealEstateMember2021-01-012021-06-300000712534us-gaap:ContractualInterestRateReductionMemberus-gaap:ResidentialRealEstateMember2021-01-012021-06-300000712534us-gaap:ResidentialRealEstateMemberfrme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-01-012021-06-300000712534us-gaap:ExtendedMaturityMember2021-01-012021-06-300000712534us-gaap:ContractualInterestRateReductionMember2021-01-012021-06-300000712534frme:TroubledDebtRestructuringsRateAndTermModificationsMember2021-01-012021-06-300000712534frme:CommercialRealEstateOwnerOccupiedMember2022-01-012022-06-300000712534frme:CommercialAndIndustrialLoansMember2021-04-012021-06-300000712534us-gaap:ResidentialRealEstateMember2021-06-300000712534us-gaap:CommercialPortfolioSegmentMember2022-03-310000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000712534frme:ConstructionPortfolioSegmentMember2022-03-310000712534frme:ConsumerAndResidentialPortfolioSegmentMember2022-03-310000712534us-gaap:CommercialPortfolioSegmentMember2022-04-012022-06-300000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2022-04-012022-06-300000712534frme:ConstructionPortfolioSegmentMember2022-04-012022-06-300000712534frme:ConsumerAndResidentialPortfolioSegmentMember2022-04-012022-06-300000712534us-gaap:CommercialPortfolioSegmentMember2022-06-300000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2022-06-300000712534frme:ConstructionPortfolioSegmentMember2022-06-300000712534frme:ConsumerAndResidentialPortfolioSegmentMember2022-06-300000712534us-gaap:CommercialPortfolioSegmentMember2021-12-310000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000712534frme:ConstructionPortfolioSegmentMember2021-12-310000712534frme:ConsumerAndResidentialPortfolioSegmentMember2021-12-310000712534us-gaap:CommercialPortfolioSegmentMember2022-01-012022-06-300000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-06-300000712534frme:ConstructionPortfolioSegmentMember2022-01-012022-06-300000712534frme:ConsumerAndResidentialPortfolioSegmentMember2022-01-012022-06-300000712534us-gaap:CommercialPortfolioSegmentMember2021-03-310000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2021-03-310000712534frme:ConstructionPortfolioSegmentMember2021-03-310000712534frme:ConsumerAndResidentialPortfolioSegmentMember2021-03-310000712534us-gaap:CommercialPortfolioSegmentMember2021-04-012021-06-300000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2021-04-012021-06-300000712534frme:ConstructionPortfolioSegmentMember2021-04-012021-06-300000712534frme:ConsumerAndResidentialPortfolioSegmentMember2021-04-012021-06-300000712534us-gaap:CommercialPortfolioSegmentMember2021-06-300000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2021-06-300000712534frme:ConstructionPortfolioSegmentMember2021-06-300000712534frme:ConsumerAndResidentialPortfolioSegmentMember2021-06-300000712534us-gaap:CommercialPortfolioSegmentMembersrt:ScenarioPreviouslyReportedMember2020-12-310000712534us-gaap:CommercialRealEstatePortfolioSegmentMembersrt:ScenarioPreviouslyReportedMember2020-12-310000712534frme:ConstructionPortfolioSegmentMembersrt:ScenarioPreviouslyReportedMember2020-12-310000712534srt:ScenarioPreviouslyReportedMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000712534srt:ScenarioPreviouslyReportedMemberus-gaap:ResidentialPortfolioSegmentMember2020-12-310000712534frme:ConsumerAndResidentialPortfolioSegmentMembersrt:ScenarioPreviouslyReportedMember2020-12-310000712534srt:ScenarioPreviouslyReportedMember2020-12-310000712534us-gaap:CommercialPortfolioSegmentMembersrt:RevisionOfPriorPeriodReclassificationAdjustmentMember2020-12-310000712534srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000712534srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberfrme:ConstructionPortfolioSegmentMember2020-12-310000712534srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000712534srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMember2020-12-310000712534srt:RevisionOfPriorPeriodReclassificationAdjustmentMemberfrme:ConsumerAndResidentialPortfolioSegmentMember2020-12-310000712534srt:RevisionOfPriorPeriodReclassificationAdjustmentMember2020-12-310000712534us-gaap:CommercialPortfolioSegmentMember2020-12-310000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000712534frme:ConstructionPortfolioSegmentMember2020-12-310000712534us-gaap:ConsumerPortfolioSegmentMember2020-12-310000712534us-gaap:ResidentialPortfolioSegmentMember2020-12-310000712534frme:ConsumerAndResidentialPortfolioSegmentMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberfrme:ConstructionPortfolioSegmentMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberfrme:ConsumerAndResidentialPortfolioSegmentMember2020-12-310000712534us-gaap:CommercialPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534us-gaap:CommercialRealEstatePortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534frme:ConstructionPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000712534us-gaap:ResidentialPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534frme:ConsumerAndResidentialPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000712534us-gaap:CommercialPortfolioSegmentMember2021-01-012021-06-300000712534us-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-06-300000712534frme:ConstructionPortfolioSegmentMember2021-01-012021-06-300000712534us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-06-300000712534us-gaap:ResidentialPortfolioSegmentMember2021-01-012021-06-300000712534frme:ConsumerAndResidentialPortfolioSegmentMember2021-01-012021-06-300000712534us-gaap:ConsumerPortfolioSegmentMember2021-06-300000712534us-gaap:ResidentialPortfolioSegmentMember2021-06-300000712534frme:LevelOneBancorpIncMemberus-gaap:CommitmentsToExtendCreditMember2022-06-300000712534frme:LevelOneBancorpIncMemberus-gaap:StandbyLettersOfCreditMember2022-06-300000712534us-gaap:CommitmentsToExtendCreditMember2022-06-300000712534us-gaap:CommitmentsToExtendCreditMember2021-12-310000712534us-gaap:StandbyLettersOfCreditMember2022-06-300000712534us-gaap:StandbyLettersOfCreditMember2021-12-310000712534srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-0100007125342021-01-012021-12-310000712534us-gaap:CustomerRelationshipsMemberfrme:HoosierTrustCompanyMember2021-04-010000712534srt:MinimumMember2022-01-012022-06-300000712534srt:MaximumMember2022-01-012022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMember2022-06-30frme:interest_rate_swap0000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMember2021-12-310000712534us-gaap:DesignatedAsHedgingInstrumentMemberfrme:BrokeredDepositMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberfrme:TrustPreferredDebtMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2021-12-310000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2021-12-310000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2022-04-012022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2021-04-012021-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2022-01-012022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2021-01-012021-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2022-04-012022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2021-04-012021-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2022-01-012022-06-300000712534us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2021-01-012021-06-300000712534us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2021-12-310000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2022-06-300000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2021-12-310000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2022-06-300000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2021-12-310000712534us-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2022-06-300000712534us-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2021-12-310000712534us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2022-06-300000712534us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2021-12-310000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2022-06-300000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2021-12-310000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2022-06-300000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2021-12-310000712534us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2022-06-300000712534us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2021-12-310000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2022-04-012022-06-300000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2021-04-012021-06-300000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2022-04-012022-06-300000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2021-04-012021-06-300000712534us-gaap:NondesignatedMember2022-04-012022-06-300000712534us-gaap:NondesignatedMember2021-04-012021-06-300000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2022-01-012022-06-300000712534us-gaap:ForwardContractsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2021-01-012021-06-300000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2022-01-012022-06-300000712534us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberfrme:GainLossOnSalesOfLoansNetMember2021-01-012021-06-300000712534us-gaap:NondesignatedMember2022-01-012022-06-300000712534us-gaap:NondesignatedMember2021-01-012021-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsAssetsMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:DerivativeFinancialInstrumentsAssetsMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsAssetsMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:DerivativeFinancialInstrumentsAssetsMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-04-012022-06-300000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-04-012021-06-300000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-06-300000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-012021-06-300000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300000712534us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-300000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMember2022-06-300000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel1Member2022-06-300000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMember2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel1Member2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:OtherRealEstateOwnedMember2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberfrme:OtherRealEstateOwnedMember2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:OtherRealEstateOwnedMemberus-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueMeasurementsNonrecurringMemberfrme:OtherRealEstateOwnedMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534srt:MinimumMemberfrme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-01-012022-06-300000712534srt:MaximumMemberfrme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-01-012022-06-300000712534srt:MinimumMemberfrme:DiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534srt:MaximumMemberfrme:DiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534srt:WeightedAverageMemberfrme:MeasurementInputCouponRateMemberfrme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMemberus-gaap:MeasurementInputRiskFreeInterestRateMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2022-01-012022-06-300000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMembersrt:WeightedAverageMemberfrme:MeasurementInputCouponRateMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CollateralBasedMeasurementsMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CollateralBasedMeasurementsMemberfrme:CollateralDependentLoansMembersrt:MinimumMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CollateralBasedMeasurementsMembersrt:MaximumMemberfrme:CollateralDependentLoansMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:CollateralBasedMeasurementsMemberfrme:CollateralDependentLoansMembersrt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Member2022-06-300000712534frme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534srt:MinimumMemberfrme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-12-310000712534srt:MaximumMemberfrme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-12-310000712534srt:MinimumMemberfrme:DiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534srt:MaximumMemberfrme:DiscountedCashFlowMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534srt:WeightedAverageMemberfrme:MeasurementInputCouponRateMemberfrme:DiscountedCashFlowMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMemberus-gaap:MeasurementInputRiskFreeInterestRateMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-12-310000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CorporateObligationsandU.S.GovernmentSponsoredMortgageBackedSecuritiesMembersrt:WeightedAverageMemberfrme:MeasurementInputCouponRateMemberfrme:DiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CollateralBasedMeasurementsMemberfrme:CollateralDependentLoansMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CollateralBasedMeasurementsMemberfrme:CollateralDependentLoansMembersrt:MinimumMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CollateralBasedMeasurementsMembersrt:MaximumMemberfrme:CollateralDependentLoansMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:CollateralBasedMeasurementsMemberfrme:CollateralDependentLoansMembersrt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:AppraisalsMemberfrme:OtherRealEstateOwnedMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:AppraisalsMembersrt:MinimumMemberus-gaap:MeasurementInputAppraisedValueMemberfrme:OtherRealEstateOwnedMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534srt:MaximumMemberfrme:AppraisalsMemberus-gaap:MeasurementInputAppraisedValueMemberfrme:OtherRealEstateOwnedMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534frme:AppraisalsMembersrt:WeightedAverageMemberus-gaap:MeasurementInputAppraisedValueMemberfrme:OtherRealEstateOwnedMemberus-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-06-300000712534us-gaap:FairValueInputsLevel1Member2022-06-300000712534us-gaap:FairValueInputsLevel2Member2022-06-300000712534us-gaap:FairValueInputsLevel3Member2022-06-300000712534us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000712534us-gaap:FairValueInputsLevel1Member2021-12-310000712534us-gaap:FairValueInputsLevel2Member2021-12-310000712534us-gaap:FairValueInputsLevel3Member2021-12-310000712534us-gaap:MaturityOvernightMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-300000712534us-gaap:MaturityUpTo30DaysMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-300000712534us-gaap:Maturity30To90DaysMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-300000712534us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:MaturityOver90DaysMember2022-06-300000712534us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-300000712534us-gaap:MaturityOvernightMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000712534us-gaap:MaturityUpTo30DaysMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000712534us-gaap:Maturity30To90DaysMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000712534us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:MaturityOver90DaysMember2021-12-310000712534us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310000712534us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-06-300000712534us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-06-300000712534us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000712534us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-06-300000712534us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-06-300000712534us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000712534us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000712534us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000712534us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000712534us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000712534us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000712534us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000712534us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000712534us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000712534us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000712534us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000712534us-gaap:EmployeeStockOptionMember2022-01-012022-06-300000712534us-gaap:EmployeeStockOptionMembersrt:MinimumMember2022-01-012022-06-300000712534srt:MaximumMemberus-gaap:EmployeeStockOptionMember2022-01-012022-06-300000712534frme:RestrictedStockAwardsMember2022-01-012022-06-300000712534frme:StockOptionsAndEmployeeStockPurchasePlanMember2022-04-012022-06-300000712534frme:StockOptionsAndEmployeeStockPurchasePlanMember2021-04-012021-06-300000712534frme:StockOptionsAndEmployeeStockPurchasePlanMember2022-01-012022-06-300000712534frme:StockOptionsAndEmployeeStockPurchasePlanMember2021-01-012021-06-300000712534frme:RestrictedStockAwardsMember2022-04-012022-06-300000712534frme:RestrictedStockAwardsMember2021-04-012021-06-300000712534frme:RestrictedStockAwardsMember2022-01-012022-06-300000712534frme:RestrictedStockAwardsMember2021-01-012021-06-300000712534us-gaap:EmployeeStockMember2022-04-012022-04-010000712534us-gaap:EmployeeStockMember2022-06-300000712534frme:RestrictedStockAwardsMember2021-12-310000712534frme:RestrictedStockAwardsMember2022-06-300000712534us-gaap:EmployeeStockOptionMember2022-06-30


FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from _______ to _______

FIRST MERCHANTS CORPORATION
(Exact name of registrant as specified in its charter)

Indiana
(State or other jurisdiction of incorporation)
001-4134235-1544218
(Commission File Number)(IRS Employer Identification No.)


200 East Jackson Street, Muncie, IN                  47305-2814
(Address of principal executive offices)                   (Zip code)

(Registrant’s telephone number, including area code): (765) 747-1500

Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.125 stated value per shareFRMEThe Nasdaq Stock Market LLC
Depositary Shares, each representing a 1/100th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series AFRMEPThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934 during the preceding 12 months (or for such shorter  period that the  registrant was  required  to file such  reports),  and (2) has been subject to such filing requirements for the past 90 days. Yes   No

Indicate by check mark whether the registrant has submitted electronically every interactive data file required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes    No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
Accelerated Filer
Non-Accelerated Filer
Smaller Reporting Company
Emerging Growth Company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes    No

As of August 3, 2022, there were 59,490,370 outstanding common shares of the registrant.
1

Table of Contents
TABLE OF CONTENTS

FIRST MERCHANTS CORPORATION

Page No.
Item 1. 
 
 
 
 
 
 
Item 2.
Item 3.
Item 4.
   
 
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
2

Table of Contents
GLOSSARY OF DEFINED TERMS

FIRST MERCHANTS CORPORATION

2021 CAAThe 2021 Consolidated Appropriations Act, signed into law on December 27, 2020, which included the Economic Aid to Hard-Hit-Small Businesses, Nonprofits, and Venues Act, amending the CARES Act.
ACLAllowance for Credit Losses
AmeriborThe American interbank offered rate, a potential replacement for LIBOR, is a benchmark interest rate calculated as a volume-weighted average of the daily transactions in overnight unsecured loans on the American Financial Exchange, LLC, a self-regulated electronic exchange for direct lending by American banks and financial institutions.
ASCAccounting Standards Codification
ASUAccounting Standards Update
BankFirst Merchants Bank, a wholly-owned subsidiary of the Corporation
CARES ActCoronavirus Aid, Relief and Economic Security Act
CECL
FASB Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, adopted by the Corporation on January 1, 2021.
CET1Common Equity Tier 1
CorporationFirst Merchants Corporation
COVID or COVID-192019 novel coronavirus disease, which was declared a pandemic by the World Health Organization on March 11, 2020.
ESPPEmployee Stock Purchase Plan
FASBFinancial Accounting Standards Board
FDICFederal Deposit Insurance Corporation
Federal ReserveBoard of Governors of the Federal Reserve System
FHLBFederal Home Loan Bank
FOMCFederal Open Market Committee, the monetary policymaking body of the Federal Reserve System.
FTEFully taxable equivalent
GAAPU.S. Generally Accepted Accounting Principles
HoosierHoosier Trust Company, which was acquired by the Bank on April 1, 2021.
IRSInternal Revenue Service
Level OneLevel One Bancorp, Inc., which was acquired by the Corporation on April 1, 2022.
OREOOther real estate owned
PPPPaycheck Protection Program, which was established by the CARES Act and implemented by the SBA to provide small business loans.
PCDPurchased credit deteriorated loans
RSARestricted Stock Awards
SBASmall Business Administration
TEFRATax Equity and Fiscal Responsibility Act


3

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(table dollar amounts in thousands, except share data)


CONSOLIDATED CONDENSED BALANCE SHEETS
June 30,
2022
December 31,
2021
(Unaudited)
ASSETS  
Cash and due from banks$212,559 $167,146 
Interest-bearing deposits136,702 474,154 
Investment securities available for sale2,296,351 2,344,551 
Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $2,025,524 and $2,202,503)
2,333,679 2,179,802 
Loans held for sale9,060 11,187 
Loans11,397,417 9,241,861 
Less: Allowance for credit losses - loans(226,275)(195,397)
Net loans11,171,142 9,046,464 
Premises and equipment117,757 105,655 
Federal Home Loan Bank stock38,111 28,736 
Interest receivable68,728 57,187 
Goodwill713,201 545,385 
Other intangibles40,448 25,475 
Cash surrender value of life insurance323,013 291,041 
Other real estate owned6,521 558 
Tax asset, deferred and receivable114,965 35,641 
Other assets198,255 140,167 
TOTAL ASSETS$17,780,492 $15,453,149 
LIABILITIES  
Deposits:  
Noninterest-bearing$3,435,331 $2,709,646 
Interest-bearing11,135,538 10,022,931 
Total Deposits14,570,869 12,732,577 
Borrowings:  
Federal funds purchased100,000  
Securities sold under repurchase agreements186,468 181,577 
Federal Home Loan Bank advances598,865 334,055 
Subordinated debentures and other borrowings151,299 118,618 
Total Borrowings1,036,632 634,250 
Interest payable2,978 2,762 
Other liabilities192,372 170,989 
Total Liabilities15,802,851 13,540,578 
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY
Preferred Stock, $1,000 par value, $1,000 liquidation value:
  
Authorized - 600 cumulative shares
  
Issued and outstanding - 125 cumulative shares
125 125 
Preferred Stock, Series A, no par value, $2,500 liquidation preference:
Authorized - 10,000 non-cumulative perpetual shares
Issued and outstanding - 10,000 non-cumulative perpetual shares
25,000  
Common Stock, $0.125 stated value:
  
Authorized - 100,000,000 shares
  
Issued and outstanding - 59,059,866 and 53,410,411 shares
7,383 6,676 
Additional paid-in capital1,226,378 985,818 
Retained earnings917,311 864,839 
Accumulated other comprehensive income (loss)(198,556)55,113 
Total Stockholders' Equity1,977,641 1,912,571 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$17,780,492 $15,453,149 


See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.
4

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(table dollar amounts in thousands, except share data)


CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
 2022202120222021
INTEREST INCOME    
Loans receivable:  
Taxable$106,787 $87,002 $185,862 $172,107 
Tax exempt5,990 5,545 11,694 10,884 
Investment securities:   
Taxable10,372 7,440 18,882 14,135 
Tax exempt17,212 13,071 33,087 25,456 
Deposits with financial institutions610 129 840 243 
Federal Home Loan Bank stock175 88 321 266 
Total Interest Income141,146 113,275 250,686 223,091 
INTEREST EXPENSE    
Deposits8,485 5,823 12,779 12,023 
Federal funds purchased76 2 76 4 
Securities sold under repurchase agreements134 75 223 162 
Federal Home Loan Bank advances1,774 1,452 2,992 2,894 
Subordinated debentures and other borrowings2,016 1,659 3,675 3,316 
Total Interest Expense12,485 9,011 19,745 18,399 
NET INTEREST INCOME128,661 104,264 230,941 204,692 
Provision for credit losses16,755  16,755  
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES111,906 104,264 214,186 204,692 
OTHER INCOME    
Service charges on deposit accounts7,690 5,596 14,109 10,860 
Fiduciary and wealth management fees7,634 7,510 14,966 13,932 
Card payment fees5,175 4,159 10,898 8,526 
Net gains and fees on sales of loans3,226 8,325 5,425 12,311 
Derivative hedge fees1,444 943 2,362 1,260 
Other customer fees662 368 1,072 736 
Increase in cash surrender value of life insurance1,279 1,205 2,455 2,394 
Gains on life insurance benefits29  549 147 
Net realized gains on sales of available for sale securities90 1,761 656 3,560 
Other income1,048 1,017 1,682 1,249 
Total Other Income28,277 30,884 54,174 54,975 
OTHER EXPENSES    
Salaries and employee benefits56,041 42,438 98,560 81,249 
Net occupancy6,648 5,615 12,835 12,106 
Equipment6,720 4,848 11,800 9,878 
Marketing1,414 1,122 2,150 2,246 
Outside data processing fees4,881 4,698 9,244 8,942 
Printing and office supplies381 313 726 596 
Intangible asset amortization2,303 1,464 3,669 2,821 
FDIC assessments2,924 1,461 5,116 2,829 
Other real estate owned and foreclosure expenses(266)178 298 912 
Professional and other outside services10,267 2,976 13,220 5,519 
Other expenses6,000 4,182 12,020 8,295 
Total Other Expenses97,313 69,295 169,638 135,393 
INCOME BEFORE INCOME TAX42,870 65,853 98,722 124,274 
Income tax expense3,879 10,294 11,145 19,246 
NET INCOME38,991 55,559 87,577 105,028 
Preferred stock dividends469  469  
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS$38,522 $55,559 $87,108 $105,028 
Per Share Data:    
Basic Net Income Available to Common Stockholders$0.64 $1.03 $1.55 $1.95 
Diluted Net Income Available to Common Stockholders$0.63 $1.03 $1.54 $1.94 
Cash Dividends Paid$0.32 $0.29 $0.61 $0.55 
Average Diluted Common Shares Outstanding (in thousands)59,308 54,184 56,516 54,159 


See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

5

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(table dollar amounts in thousands, except share data)


CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2022202120222021
Net income$38,991 $55,559 $87,577 $105,028 
Other comprehensive income/( loss):
     Unrealized gains/(losses) on securities available-for-sale:
Unrealized holding gain/(loss) arising during the period(144,709)32,238 (321,275)(15,673)
Reclassification adjustment for losses/(gains) included in net income(90)(1,761)(656)(3,560)
Tax effect30,408 (6,400)67,606 4,039 
Net of tax(114,391)24,077 (254,325)(15,194)
     Unrealized gain/(loss) on cash flow hedges:
Unrealized holding gain/(loss) arising during the period110 (16)413 42 
Reclassification adjustment for losses/(gains) included in net income178 260 418 513 
Tax effect(61)(51)(175)(117)
Net of tax227 193 656 438 
      Total other comprehensive income/(loss), net of tax(114,164)24,270 (253,669)(14,756)
Comprehensive income/(loss)$(75,173)$79,829 $(166,092)$90,272 


See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

6

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(table dollar amounts in thousands, except share data)


CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Unaudited)

Three Months Ended June 30, 2022
Cumulative Preferred StockNon-Cumulative Preferred StockCommon StockAdditionalAccumulated
Other
SharesAmountSharesAmountSharesAmountPaid in
Capital
Retained
Earnings
Comprehensive
Loss
Total
Balances, March 31, 2022125 $125  $ 53,424,823 $6,678 $987,404 $897,818 $(84,392)$1,807,633 
Comprehensive loss:
Net income— — — — — — — 38,991 — 38,991 
Other comprehensive loss, net of tax — — — — — — — — (114,164)(114,164)
Cash dividends on preferred stock ($46.88 per share)
— — — — — — — (469)— (469)
Cash dividends on common stock ($0.32 per share)
— — — — — — — (19,029)— (19,029)
Issuance of stock related to acquisition— — 10,000 25,000 5,588,962 699 236,690 — — 262,389 
Share-based compensation— — — — 5,834 1 1,143 — — 1,144 
Stock issued under employee benefit plans— — — — 9,055 1 316 — — 317 
Stock issued under dividend reinvestment and stock purchase plan— — — — 14,285 1 536 — — 537 
Stock options exercised— — — — 17,095 3 296 — — 299 
Restricted shares withheld for taxes— — — — (188)— (7)— — (7)
Balances, June 30, 2022
125 $125 10,000 $25,000 59,059,866 $7,383 $1,226,378 $917,311 $(198,556)$1,977,641 


Three Months Ended June 30, 2021
Cumulative Preferred StockCommon StockAdditionalAccumulated
Other
SharesAmountSharesAmountPaid in
Capital
Retained
Earnings
Comprehensive
Income
Total
Balances, March 31, 2021125 $125 53,953,723 $6,744 $1,007,300 $755,877 $35,810 $1,805,856 
Comprehensive income::
Net income— — — — — 55,559 — 55,559 
Other comprehensive income, net of tax — — — — — — 24,270 24,270 
Cash dividends on common stock ($0.29 per share)
— — — — — (15,770)— (15,770)
Share-based compensation— — 375  1,208 — — 1,208 
Stock issued under employee benefit plans— — 4,185 1 161 — — 162 
Stock issued under dividend reinvestment and
stock purchase plan
— — 11,103 2 486 — — 488 
Stock options exercised— —