Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 219

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 219
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,393 Discountedcash flowDiscount for type of property,age of appraisal, and current status3% - 46% (18%)Foreclosed AssetsCommercial real estate (2)975 Fair value of collateralDiscount for type of property,age of appraisal, and current status28%Residential (2)244 Fair value of collateralDiscount for type of property,age of appraisal, and current status24%December 31, 2023Collateral Dependent LoansCommercial loans$11,017 Discountedcash flowDiscount for type of property,age of appraisal, and current status5% - 37% (27%)Commercial real estate loans95,457 Discountedcash flowDiscount for type of property,age of appraisal, and current status2% - 38% (16%)Foreclosed AssetsCommercial real estate1,669 Fair value of collateralDiscount for type of property,age of appraisal, and current status4% - 8% (4%)(1)Unobservable inputs were weighted by the relative fair value of the instruments.(2)There was only one foreclosed commercial real estate property and one foreclosed residential real estate property at December 31, 2024 with write-downs during 2024, so no range or weighted average is reported.

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Fair Value OptionOld National may elect to report most financial instruments and certain other items at fair value on an instrument-by-instrument basis with changes in fair value reported in net income. After the initial adoption, the election is made at the acquisition of an eligible financial asset, financial liability, or firm commitment or when certain specified reconsideration events occur. The fair value election may not be revoked once an election is made.Loans Held-For-SaleOld National has elected the fair value option for loans held-for-sale. For these loans, interest income is recorded in the consolidated statements of income based on the contractual amount of interest income earned on the financial assets (except any that are on nonaccrual status). None of these loans are 90 days or more past due, nor are any on nonaccrual status. Included in the income statement is interest income for loans held-for-sale totaling $2.3 million in 2024, $1.2 million in 2023, and $1.8 million in 2022.Newly originated conforming fixed-rate and adjustable-rate first mortgage loans are intended for sale and are hedged with derivative instruments. Old National has only elected the fair