Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 25

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 25
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 and timely interest payments that will be received through maturity, the steady amortization that will be experienced until maturity, and the full return of principal by the final maturity of the collateralized debt obligations. Old National did not recognize any losses on these securities for the nine months ended September 30, 2025 or 2024.Equity SecuritiesEquity securities consist of mutual funds for Community Reinvestment Act qualified investments and diversified investment securities held in a grantor trust for participants in the Company’s nonqualified deferred compensation plan. Old National’s equity securities with readily determinable fair values totaled $126.3 million at September 30, 2025 and $92.0 million at December 31, 2024. There were gains on equity securities of $1.0 million and $0.4 million during the three and nine months ended September 30, 2025, respectively, compared to gains of $1.5 million and $1.4 million during the three and nine months ended September 30, 2024, respectively.Alternative InvestmentsOld National has alternative investments without readily determinable fair values that are included in other assets totaling $942.1 million at September 30, 2025 and $609.2 million at December 31, 2024. These investments consisted of $553.7 million of illiquid investments in partnerships, limited liability companies, and other ownership interests that support affordable housing and $388.3 million of economic development and community revitalization initiatives in low-to-moderate income neighborhoods at September 30, 2025, compared to $318.5 million and $290.7 million for the same investment types, respectively, at December 31, 2024. There have been no impairments or adjustments on alternative investments without readily determinable fair values, except for amortization of tax credit investments in the nine months ended September 30, 2025 and 2024. See Note 9 to the consolidated financial statements for detail regarding these investments.

NOTE 6 – LOANS AND ALLOWANCE FOR CREDIT LOSSES

LoansOld National’s loans consist primarily of loans made to consumers and commercial clients in many diverse industries, including real estate rental and leasing, manufacturing, healthcare, wholesale trade, construction, and agriculture, among others. Most of Old National’s lending activity occurs within our principal geographic markets in the Midwest and Southeast regions of the United States. Old National manages concentrations of credit exposure by industry, product, geography, client relationship, and