Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 172

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 172
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 and loan composition, which drive the allowance for credit losses balance.

Noninterest Income

We generate revenues in the form of noninterest income through client fees, sales commissions, and gains and losses from our core banking franchise and other related businesses, such as wealth management, investment consulting, and investment products. The following table details the components in noninterest income:

Three Months EndedMarch 31,%(dollars in thousands)20252024ChangeWealth and investment services fees$29,648 $28,304 4.7 %Service charges on deposit accounts21,156 17,898 18.2 Debit card and ATM fees9,991 10,054 (0.6)Mortgage banking revenue6,879 4,478 53.6 Capital markets income4,506 2,900 55.4 Company-owned life insurance5,381 3,434 56.7 Debt securities gains (losses), net(76)(16)375.0 Other income16,309 10,470 55.8 Total noninterest income$93,794 $77,522 21.0 %

Noninterest income increased $16.3 million for the three months ended March 31, 2025 compared to the same period in 2024 primarily due to the acquisition of CapStar, higher mortgage banking revenue, and higher other income.

Mortgage banking revenue increased $2.4 million for the three months ended March 31, 2025 compared to the same period in 2024 primarily due to higher mortgage originations and increased loan sales.

Capital markets income increased $1.6 million for the three months ended March 31, 2025 compared to the same period in 2024 primarily due to higher levels of commercial real estate client interest rate swap fees.

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Company-owned life insurance increased $1.9 million for the three months ended March 31, 2025 compared to the same period in 2024 primarily due to higher benefit settlements.

Other income increased $5.8 million for the three months ended March 31, 2025 compared to the same period in 2024 primarily due to $4.2 million of net gains on sales of commercial loans in the three months ended March 31, 2025 and additional other income associated with the acquisition of CapStar.

Noninterest Expense

The following table details the components in noninterest expense:

Three Months EndedMarch