Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 52

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 52
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36

NOTE 12 – OTHER BORROWINGS

The following table summarizes Old National’s other borrowings:(dollars in thousands)September 30,2025December 31, 2024Old National Bancorp:  Subordinated debentures (fixed rate 5.88%) maturing September 2026$150,000 $150,000 Subordinated debentures redeemed in September 2025— 30,000 Junior subordinated debentures (rates of 5.70% to 8.15%) maturing   July 2031 to September 2037198,499 136,643 Other basis adjustments9,181 13,049 Old National Bank:Finance lease liabilities25,410 24,822 Subordinated debentures (3-month Secured Overnight Financing   Rate (“SOFR”) plus 4.618%; variable rate 8.93%) maturing October 202512,000 12,000 Leveraged loans for NMTC (fixed rates of 1.00% to 7.25%)    maturing December 2027 to June 2060407,209 210,251 Other (1)23,126 112,853 Total other borrowings$825,425 $689,618 (1)Includes overnight borrowings to collateralize certain derivative positions totaling $23.1 million at September 30, 2025 and $112.8 million at December 31, 2024.Contractual maturities of other borrowings at September 30, 2025 were as follows:(dollars in thousands) Due in 2025$37,346 Due in 2026157,934 Due in 202718,783 Due in 20281,846 Due in 20291,059 Thereafter599,269 Unamortized debt issuance costs and other basis adjustments9,188 Total$825,425 Junior Subordinated DebenturesJunior subordinated debentures related to trust preferred securities are classified in “other borrowings” and qualify as Tier 2 capital for regulatory purposes, subject to certain limitations.Through various mergers and acquisitions, Old National assumed junior subordinated debenture obligations related to various trusts that issued trust preferred securities. Old National guarantees the payment of distributions on the trust preferred securities issued by the trusts. Proceeds from the