Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 174

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 174
---
 (1)    Basis adjustments represent the amount of fair value hedging adjustments included in the carrying amounts of fixed-rate investment securities assets designated in fair value hedging arrangements. See Note 19 to the consolidated financial statements for additional information regarding these derivative financial instruments.The following table summarizes the amortized cost and fair value of the held-to-maturity investment securities portfolio and the corresponding amounts of gross unrecognized gains and losses.(dollars in thousands)AmortizedCostUnrecognizedGainsUnrecognizedLossesFairValueDecember 31, 2024Held-to-MaturityU.S. government-sponsored entities and agencies$832,984 $— $(168,653)$664,331 Mortgage-backed securities - Agency970,212 — (169,546)800,666 States and political subdivisions1,151,835 317 (145,861)1,006,291 Allowance for securities held-to-maturity(150)— — (150)Total held-to-maturity securities$2,954,881 $317 $(484,060)$2,471,138 December 31, 2023Held-to-MaturityU.S. government-sponsored entities and agencies$825,953 $— $(154,827)$671,126 Mortgage-backed securities - Agency1,029,131 — (147,137)881,994 States and political subdivisions1,158,559 1,800 (112,141)1,048,218 Allowance for securities held-to-maturity(150)— — (150)Total held-to-maturity securities$3,013,493 $1,800 $(414,105)$2,601,188 Substantially all of the mortgage-backed securities in the investment portfolio are residential mortgage-backed securities.

93

Proceeds from sales or calls of available-for-sale investment securities and the resulting realized gains and realized losses were as follows:Years Ended December 31,(dollars in thousands)202420232022Proceeds$379,108 $154,339 $90,840 Realized gains104 1,006 531 Realized losses(316)(7,271)(619)Investment securities pledged to secure public and other funds had a carrying value of $7.4 billion at December 31, 2024 and $8.4 billion at December 31, 2023.Excluding securities issued or backed by the