Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 110

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 110
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716 908,630 Total criticized and classified assets$3,633,073 $2,493,036 Asset Quality Ratios: Nonaccrual loans/total loans (2)1.24 %1.23 %Under-performing assets/total loans (2)1.29 1.26 Under-performing assets/total assets0.87 0.85 Allowance for credit losses on loans/under-performing assets91.21 86.02 Allowance for credit losses on loans/nonaccrual loans95.02 87.62 

(1)Includes investment securities that fell below investment grade rating.

(2)Loans exclude loans held-for-sale.

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Under-performing assets increased to $619.6 million at June 30, 2025, compared to $456.3 million at December 31, 2024 primarily due to the Bremer acquisition. Under-performing assets as a percentage of total loans at June 30, 2025 were 1.29%, a 3 basis point increase from 1.26% at December 31, 2024.

Nonaccrual loans increased $146.7 million from December 31, 2024 to June 30, 2025 reflecting $126.8 million of nonaccrual loans acquired in the Bremer acquisition. As a percentage of nonaccrual loans, the allowance for credit losses on loans was 95.02% at June 30, 2025, compared to 87.62% at December 31, 2024.

Total criticized and classified assets were $3.6 billion at June 30, 2025, an increase of $1.1 billion from December 31, 2024 primarily due to $1.1 billion of criticized and classified loans related to the Bremer acquisition. Other classified assets include investment securities that fell below investment grade rating totaling $43.5 million at June 30, 2025, compared to $59.0 million at December 31, 2024.

Allowance for Credit Losses on Loans and Unfunded Commitments

Net charge-offs on loans totaled $26.5 million during the three months ended June 30, 2025, compared to $14.0 million for the same period in 2024. Annualized, net charge-offs to average loans were 0.24% and 0.16% for the three