Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 220

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 220
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 value option for other instruments in order to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplification. The fair value option was not elected for loans held for investment.The difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows:(dollars in thousands)AggregateFair ValueDifferenceContractualPrincipalDecember 31, 2024Loans held-for-sale$34,483 $271 $34,212 December 31, 2023Loans held-for-sale$32,006 $621 $31,385 Accrued interest at period end is included in the fair value of the instruments.The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value:(dollars in thousands)OtherGains and(Losses)InterestIncomeInterest(Expense)Total Changesin Fair ValuesIncluded inCurrent PeriodEarningsYear Ended December 31, 2024Loans held-for-sale$(377)$32 $(5)$(350)Year Ended December 31, 2023Loans held-for-sale$402 $12 $(14)$400 

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Financial Instruments Not Carried at Fair ValueThe carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows: Fair Value Measurements at December 31, 2024 Using(dollars in thousands)CarryingValueQuoted Prices inActive Markets forIdentical Assets(Level 1)SignificantOtherObservableInputs(Level 2)SignificantUnobservableInputs(Level 3)Financial AssetsCash, due from banks, money market,   and other interest-earning investments$1,227,968 $1,227,968 $— $— Investment securities held-to-maturity:U.S. government-sponsored entities and agencies832,984 — 664,331 — Mortgage-backed securities - Agency970,212 — 800,666 — State and political subdivisions1,151,685 — 1,006,141 — Loans, net:Commercial10,138,241 — — 10,158,299 Commercial real estate16,105,961 — — 15,961,968 Residential real estate6,774,664 — — 6,080,709