Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 227

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 227
---
 or comparable borrowers. Appraised values, adjusted for management’s assumptions relating to costs to hold, maintain, and sell the property, are generally used on real estate collateral-dependent impaired loans. Given the significant assumptions used in the valuation, impaired loans are included within Level 3 of the fair value hierarchy. Other Real Estate Owned The fair value of OREO is based on third party appraisals, net of estimated selling costs. Given the significant assumptions used in the valuation, OREO is included within Level 3 of the fair value hierarchy. Loans Held for Sale LHFS, which consist primarily of current production of certain first-lien residential mortgage loans, are carried at the lower of cost or estimated fair value. Fair value is estimated using observable inputs, primarily actual sale experience as well as secondary market price quotes. The Company did not record any adjustments to LHFS during the years ended December 31, 2023 or 2022, as fair value approximated carrying value at December 31, 2023 and 2022. Given that fair value is based on observable market prices, LHFS would be classified within Level 2 of the fair value hierarchy. The Company had recorded loans held for sale of $10.3 million and $11.9 million at December 31, 2023 and 2022, respectively. Disclosures About Fair Value of Financial Instruments The following section describes the valuation methodologies used by the Company to measure financial assets and liabilities at fair value for disclosure purposes only. In addition, the following section includes an indication of the level of the fair value hierarchy in which the assets or liabilities are classified. Where appropriate, the description includes information about the valuation models and key inputs to those models. During the years ended December 31, 2023 and 2022, there were no significant changes to the valuation techniques used by the Company to measure fair value for disclosure purposes.

F-49

TABLE OF CONTENTS

The following table provides the balances of financial assets and financial liabilities measured at fair value for disclosure purposes only at December 31:

| ​                                          
 (Dollars in Thousands)                     
 2023                                       | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | ​              
 CarryingAmount 
 ​              | ​ 
 ​ |          ​ 
          ​ | ​ 
 ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | Fair Value 
 Level 1    
 ​          | ​ |       ​ | ​ | ​ 
 ​ | ​ 
 ​ | Level 2