What the changes say
- Risk disclosures are essentially unchanged from the prior year.
- Technology change remains the main stated operational risk, with cybersecurity expertise highlighted through Jason Sondhi’s board role.
What changed since the prior 10-K
Reworded
- 28% rewrittenOperational Risks
In 2022, the Board appointed Jason Sondhi to its Board of Directors
No substantive risk language changed; this year’s presentation adds that the Board appointed Jason Sondhi in 2022.
Risk factor headings as read
Headings as the filing states them, in filing order.
Operational Risks
- 01An epidemic, a pandemic or any other infectious disease outbreak may result in a widespread health crisis that could adversely affect general commercial activity, the global economy (including the states and local economies in which we operate) and financial markets
- 02The Corporation adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326)
- 03At the Information Security Committee, security-related policies and standards are reviewed and approved, annual risk assessment results and action plans are noted, annual penetration test reports shared, current security incidents discussed, and relevant cyber risks and trends are presented
- 04In 2022, the Board appointed Jason Sondhi to its Board of Directors28% rewritten
Other First Merchants 10-Ks
- FY2024 10-K risk factorsRisk factors section under review
Pandemic-related branch closures, remote work, and cyberattacks threaten operations and customer access.
Filed Feb 24, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.