Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 45

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 45
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million at December 31, 2024.

32

Contractual maturities of other borrowings at March 31, 2025 were as follows:(dollars in thousands) Due in 2025$86,344 Due in 2026151,976 Due in 20272,087 Due in 20281,846 Due in 20291,059 Thereafter387,151 Unamortized debt issuance costs and other basis adjustments11,811 Total$642,274 Junior Subordinated DebenturesJunior subordinated debentures related to trust preferred securities are classified in “other borrowings” and qualify as Tier 2 capital for regulatory purposes, subject to certain limitations.Through various mergers and acquisitions, Old National assumed junior subordinated debenture obligations related to various trusts that issued trust preferred securities. Old National guarantees the payment of distributions on the trust preferred securities issued by the trusts. Proceeds from the issuance of each of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by the trusts.Old National, at any time, may redeem the junior subordinated debentures at par and, thereby cause a redemption of the trust preferred securities in whole or in part.The following table summarizes the terms of our outstanding junior subordinated debentures at March 31, 2025:(dollars in thousands)   Rate atMarch 31,2025 Name of TrustIssuance DateIssuanceAmountRateMaturity DateBridgeview Statutory Trust IJuly 2001$15,464 3-month SOFR plus 3.58%8.13%July 31, 2031Bridgeview Capital Trust IIDecember 200215,464 3-month SOFR plus 3.35%7.91%January 7, 2033First Midwest Capital Trust INovember 200337,825 6.95% fixed6.95%December 1, 2033St. Joseph Capital Trust IIMarch 20055,155 3-month SOFR plus 1.75%6.31%March 17, 2035Northern States Statutory Trust ISeptember 200510,310 3-month SOFR plus 1.80%6.36%September 15, 2035Anchor Capital Trust IIIAugust 20055,000 3-month SOFR plus