Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 174

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 174
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Hedging InstrumentsLocation of Gain or (Loss)Recognized in Income onDerivativeGain (Loss)Recognized in Income onDerivativeInterest rate contracts (1)Other income/(expense)$123 $(160)Mortgage contractsMortgage banking revenue(122)(693)Foreign currency contractsOther income/(expense)(66)(47)Total $(65)$(900)  Six Months EndedJune 30, 20252024Derivatives Not Designated asHedging InstrumentsLocation of Gain or (Loss)Recognized in Income onDerivativeGain (Loss)Recognized in Income onDerivativeInterest rate contracts (1)Other income/(expense)$147 $408 Mortgage contractsMortgage banking revenue(503)44 Foreign currency contractsOther income/(expense)13 (81)Total $(343)$371 (1)Includes the valuation differences between the customer and offsetting swaps.

44

Fair Value of Offsetting DerivativesCertain derivative instruments are subject to master netting agreements with counterparties that provide rights of setoff. The Company records these transactions at their gross fair values and does not offset derivative assets and liabilities in the Consolidated Balance Sheet. The following table presents the fair value of the Company’s derivatives and offsetting positions:June 30, 2025December 31, 2024(dollars in thousands)AssetsLiabilitiesAssetsLiabilitiesGross amounts recognized$178,064 $288,689 $146,478 $244,313 Less: amounts offset in the Consolidated Balance Sheet— — — — Net amount presented in the Consolidated Balance Sheet178,064 288,689 146,478 244,313 Gross amounts not offset in the Consolidated Balance SheetOffsetting derivative positions(71,142)(71,142)(24,098)(24,098)Cash collateral pledged(7,901)(51,759)— (112,499)Net credit exposure$99,021 $165,788 $122,380 $107,716 

NOTE 16 – COMMITMENTS, CONTINGENCIES, AND FINANCIAL GUARANTEES

LitigationAt June 30, 2025, there were certain legal proceedings pending against the Company and its subsidiaries in the ordinary course of business. While the outcome of any legal proceeding is inherently uncertain, based on information currently available, the Company’s management does not expect that any potential liabilities arising from