Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 139

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 139
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126 (789)951,019 (127,416)1,003,145 (128,205)Total held-to-maturity$52,126 $(789)$2,451,226 $(390,936)$2,503,352 $(391,725)December 31, 2024Held-to-MaturityU.S. government-sponsored entities   and agencies$— $— $664,331 $(168,653)$664,331 $(168,653)Mortgage-backed securities - Agency— — 800,666 (169,546)800,666 (169,546)States and political subdivisions37,007 (430)937,364 (145,431)974,371 (145,861)Total held-to-maturity$37,007 $(430)$2,402,361 $(483,630)$2,439,368 $(484,060)The unrecognized losses on held-to-maturity investment securities presented in the table above do not include unrecognized losses on securities that were transferred from available-for-sale to held-to-maturity totaling $97.9 million at September 30, 2025 and $110.0 million at December 31, 2024. These unrecognized losses are included as a separate component of shareholders’ equity and are being amortized over the remaining term of the securities.No allowance for credit losses on available-for-sale debt securities was needed at September 30, 2025 or December 31, 2024.

18

An allowance on held-to-maturity debt securities is maintained for certain municipal bonds to account for expected lifetime credit losses. Substantially all of the U.S. government-sponsored entities and agencies and agency mortgage-backed securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major credit rating agencies, and have a long history of no credit losses. Therefore, for those securities, we do not record expected credit losses. The allowance for credit losses on held-to-maturity debt securities was $0.2 million at September 30, 2025 and December 31, 2024. Accrued interest receivable on the securities portfolio is excluded from the estimate of credit losses and totaled $58.6 million at September 30, 2025 and $55.3 million at December 31, 2024.At September 30, 2025, Old National’s securities portfolio consisted of 3,197 securities,