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REGULATORY CAPITAL AND DIVIDENDS (Tables) | 12 Months Ended
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Dec. 31, 2023
Banking and Thrift, Interest [Abstract] |
Schedule of Actual and Required Capital Amounts and Ratios | The Corporation’s and Bank’s actual and required capital ratios as of December 31, 2023 and December 31, 2022 were as follows:
|  |  |  |  | Prompt Corrective Action Thresholds
| Actual |  | Basel III Minimum Capital Required |  | Well Capitalized
December 31, 2023 | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total risk-based capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 2,021,124 |  |  | 13.67 | % |  | $ | 1,552,685 |  |  | 10.50 | % |  | N/A |  | N/A
First Merchants Bank | 1,931,810 |  |  | 13.06 |  |  | 1,553,600 |  |  | 10.50 |  |  | $ | 1,479,619 |  |  | 10.00 | %
Tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,703,626 |  |  | 11.52 | % |  | $ | 1,256,935 |  |  | 8.50 | % |  | N/A |  | N/A
First Merchants Bank | 1,746,299 |  |  | 11.80 |  |  | 1,257,676 |  |  | 8.50 |  |  | $ | 1,183,695 |  |  | 8.00 | %
Common equity tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,678,626 |  |  | 11.35 | % |  | $ | 1,035,123 |  |  | 7.00 | % |  | N/A |  | N/A
First Merchants Bank | 1,746,299 |  |  | 11.80 |  |  | 1,035,733 |  |  | 7.00 |  |  | $ | 961,752 |  |  | 6.50 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,703,626 |  |  | 9.64 | % |  | $ | 707,091 |  |  | 4.00 | % |  | N/A |  | N/A
First Merchants Bank | 1,746,299 |  |  | 9.89 |  |  | 706,331 |  |  | 4.00 |  |  | $ | 882,913 |  |  | 5.00 | %
|  |  |  |  | Prompt Corrective Action Thresholds
| Actual |  | Basel III Minimum Capital Required |  | Well Capitalized
December 31, 2022 | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total risk-based capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,882,254 |  |  | 13.08 | % |  | $ | 1,511,230 |  |  | 10.50 | % |  | N/A |  | N/A
First Merchants Bank | 1,822,296 |  |  | 12.65 |  |  | 1,513,064 |  |  | 10.50 |  |  | $ | 1,441,014 |  |  | 10.00 | %
Tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,558,281 |  |  | 10.83 | % |  | $ | 1,223,377 |  |  | 8.50 | % |  | N/A |  | N/A
First Merchants Bank | 1,641,210 |  |  | 11.39 |  |  | 1,224,862 |  |  | 8.50 |  |  | $ | 1,152,811 |  |  | 8.00 | %
Common equity tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,533,281 |  |  | 10.65 | % |  | $ | 1,007,487 |  |  | 7.00 | % |  | N/A |  | N/A
First Merchants Bank | 1,641,210 |  |  | 11.39 |  |  | 1,008,710 |  |  | 7.00 |  |  | $ | 936,659 |  |  | 6.50 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |
First Merchants Corporation | $ | 1,558,281 |  |  | 9.10 | % |  | $ | 684,758 |  |  | 4.00 | % |  | N/A |  | N/A
First Merchants Bank | 1,641,210 |  |  | 9.60 |  |  | 683,680 |  |  | 4.00 |  |  | $ | 854,600 |  |  | 5.00 | %

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- Definition Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1B + Details
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