Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 147

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 147
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 31,2025December 31, 2024Unfunded loan commitments (1)$8,740,965 $8,533,433 Standby letters of credit (2)184,165 194,323 (1)Excludes cancellable loan commitments of $2.5 billion at March 31, 2025 and $2.5 billion at December 31, 2024.(2)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.8 million at March 31, 2025 and $1.7 million at December 31, 2024.At March 31, 2025, approximately 3% of the unfunded loan commitments had fixed rates, with the remainder having floating rates ranging from 0.01% to 21.49%. The allowance for unfunded loan commitments totaled $22.0 million at March 31, 2025 and $21.7 million at December 31, 2024.Old National is a party in risk participation transactions of interest rate swaps, which had total notional amounts of $847.1 million at March 31, 2025 and $730.5 million at December 31, 2024.

NOTE 17 – FAIR VALUE

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:•Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.•Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.•Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

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Old National used the following methods and significant assumptions to estimate the fair value of each type of financial instrument:Investment securities and equity securities: The fair values for investment securities and equity securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair