Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 149

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 149
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ets forIdentical Assets (Level 1)SignificantOtherObservableInputs (Level 2)SignificantUnobservableInputs (Level 3)Financial Assets    Equity securities$91,996 $91,996 $— $— Investment securities available-for-sale:U.S. Treasury199,013 199,013 — — U.S. government-sponsored entities and agencies1,257,906 — 1,257,906 — Mortgage-backed securities - Agency5,204,891 — 5,204,891 — States and political subdivisions485,544 — 485,544 — Pooled trust preferred securities11,322 — 11,322 — Other securities299,783 — 299,783 — Loans held-for-sale34,483 — 34,483 — Derivative assets146,478 — 146,478 — Financial LiabilitiesDerivative liabilities244,313 — 244,313 — Non-Recurring BasisAssets measured at fair value at March 31, 2025 on a non-recurring basis are summarized below:  Fair Value Measurements at March 31, 2025 Using(dollars in thousands)CarryingValueQuoted Prices inActive Markets forIdentical Assets(Level 1)SignificantOtherObservableInputs (Level 2)SignificantUnobservableInputs(Level 3)Collateral Dependent Loans:    Commercial loans$32,872 $— $— $32,872 Commercial real estate loans109,839 — — 109,839 Foreclosed Assets:Commercial975 — — 975 Residential244 — — 244 

41

Commercial and commercial real estate loans that are deemed collateral dependent are valued using the discounted cash flows. The liquidation amounts are based on the fair value of the underlying collateral using the most recently available appraisals with certain adjustments made based on the type of property, age of appraisal, current status of the property, and other related factors to estimate the current value of the collateral. These commercial and commercial real estate loans had a principal amount of $196.2 million, with a valuation allowance of $53.5 million at March 31, 2025. Old National recorded provision expense associated with these loans totaling $9.6 million for the three