Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 220

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 220
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 |         ​ | ​ |       — | ​ | ​ | ​ | ​             | ​ |         — | ​ | ​ |
| Forward contracts         | ​ | ​ |         ​ | ​ |      — | ​ | ​ | ​ | ​             | ​ |         — | ​ | ​ | ​ |         ​ | ​ |      — | ​ | ​ | ​ | ​             | ​ |         — | ​ | ​ | ​ | ​ |           ​ | ​ |     218 | ​ | ​ | ​ | ​             | ​ |    11,000 | ​ | ​ | ​ |         ​ | ​ |      53 | ​ | ​ | ​ | ​             | ​ |     6,000 | ​ | ​ |
| Total derivatives         | ​ | ​ |         ​ | $ | 33,459 | ​ | ​ | ​ | ​             | $ | 2,173,635 | ​ | ​ | ​ |         ​ | $ | 34,042 | ​ | ​ | ​ | ​             | $ | 1,952,393 | ​ | ​ | ​ | ​ |           ​ | $ | 140,774 | ​ | ​ | ​ | ​             | $ | 2,211,539 | ​ | ​ | ​ |         ​ | $ | 167,916 | ​ | ​ | ​ | ​             | $ | 1,964,990 | ​ | ​ |

Certain derivative exchanges have enacted a rule change which in effect results in the legal characterization of variation margin payments for certain derivative contracts as settlement of the derivatives mark-to-market exposure and not collateral. Accordingly, the Company’s reporting of certain derivatives reflects variation margin recorded on trades cleared through these exchanges as settled. The daily settlement of the derivative exposure does not change or reset the contractual terms of the instrument. Derivatives are classified as other assets or other liabilities on the consolidated balance sheet. Derivatives Designated as Hedging Instruments Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its fixed-rate obligations due to changes in the benchmark interest rate, SOFR. Interest rate swaps designated as fair value hedges involve the receipt of fixed-rate amounts from a counterparty in exchange for the Company making variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. As of December 31, 2023, the Company did not have any interest rate contracts that were designated as fair value