Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 68

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 68
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 a valuation allowance of $53.0 million at June 30, 2025. Old National recorded provision expense associated with these loans totaling $15.0 million and $24.6 million for the three and six months ended June 30, 2025, respectively, compared to $7.4 million and $17.0 million for the three and six months ended June 30, 2024, respectively.Other real estate owned and other repossessed property is measured at fair value less costs to sell on a non-recurring basis and had a net carrying amount of $2.8 million at June 30, 2025. There were $0.5 million of write-downs on other real estate owned for the three and six months ended June 30, 2025, respectively, compared to $0.4 million for the three and six months ended June 30, 2024.Assets measured at fair value at December 31, 2024 on a non-recurring basis are summarized below:  Fair Value Measurements at December 31, 2024 Using(dollars in thousands)Carrying ValueQuoted Prices inActive Markets forIdentical Assets (Level 1)SignificantOtherObservableInputs (Level 2)SignificantUnobservableInputs (Level 3)Collateral Dependent Loans:    Commercial loans$33,658 $— $— $33,658 Commercial real estate loans121,393 — — 121,393 Foreclosed Assets:Commercial real estate975 — — 975 Residential244 — — 244 At December 31, 2024, commercial and commercial real estate loans that are deemed collateral dependent had a principal amount of $213.8 million, with a valuation allowance of $58.7 million. Net carrying amount of other real estate owned and other repossessed property totaled $1.2 million at December 31, 2024.

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The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy:(dollars in thousands)Fair ValueValuation TechniquesUnobservable InputRange (Weighted Average) (1)June 30, 2025    Collateral Dependent Loans    Commercial loans$51,725 DiscountedDiscount for type of property,11% - 50% (30%)  cash flowage of appraisal, and current