Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 167

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 167
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 to achieve the same after-tax yield as a taxable asset. We used the current federal statutory tax rate in effect of 21% for all periods. This analysis portrays the income tax benefits related to tax-exempt assets and helps to facilitate a comparison between taxable and tax-exempt assets. Management believes that it is a standard practice in the banking industry to present net interest margin and net interest income on a fully taxable equivalent basis and that it may enhance comparability for peer comparison purposes for both management and investors.

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The following table presents the average balance sheet for each major asset and liability category, its related interest income and yield, or its expense and rate.

(Tax equivalent basis,dollars in thousands)Three Months EndedMarch 31, 2025Three Months EndedMarch 31, 2024Earning AssetsAverage BalanceIncome (1)/ExpenseYield/RateAverage BalanceIncome (1)/ExpenseYield/RateMoney market and other interest-earning   investments$791,067 $8,815 4.52 %$757,244 $9,985 5.30 %Investment securities:Treasury and government sponsored agencies2,318,869 20,019 3.45 %2,362,477 23,266 3.94 %Mortgage-backed securities6,287,825 54,523 3.47 %5,357,085 38,888 2.90 %States and political subdivisions1,610,819 13,242 3.29 %1,680,175 13,976 3.33 %Other securities770,839 10,512 5.45 %770,438 12,173 6.32 %Total investment securities10,988,352 98,296 3.58 %10,170,175 88,303 3.47 %Loans: (2)Commercial10,397,991 165,595 6.37 %9,540,385 167,263 7.01 %Commercial real estate16,213,606 245,935 6.07 %14,368,370 230,086 6.41 %Residential real estate loans6,815,091 67,648 3.97 %6,693,814 63,003 3.76 %Consumer2,871,213