Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 184

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 184
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27,915 | ​ | ​ | ​ | ​                | ​ |   5,924 | ​ | ​ | ​ | ​ | ​         | ​ |    27,915 | ​ | ​ | ​ | ​                | ​ |   5,924 | ​ | ​ |
| Total available-for-sale                          | ​ | ​ | ​                   | $ | 12,405 | ​ | ​ | ​ | ​                | $ | 630 | ​ | ​ | ​ | ​ | ​                 | $ | 1,368,798 | ​ | ​ | ​ | ​                | $ | 212,377 | ​ | ​ | ​ | ​ | ​         | $ | 1,381,203 | ​ | ​ | ​ | ​                | $ | 213,007 | ​ | ​ |

These unrealized losses primarily relate to changes in interest rates and market spreads subsequent to purchase of these available-for-sale investment securities. U.S. Treasury, obligations of U.S. government agencies, and agency mortgage-backed securities are issued, guaranteed, and otherwise supported by the United States government. The Company’s obligations of state and political subdivisions, non-agency residential mortgage-backed securities, and corporate debt securities are generally high grade. Accordingly, the Company does not consider these unrealized losses to be credit related and an allowance for credit losses is not necessary. For the years ended December 31, 2023 and 2022, the Company recognized non-credit related impairment losses of $3.1 million and $0.0 million, respectively, on available-for-sale securities. The recognition of the $3.1 million related to management’s intention to sell certain available-for-sale securities in a non-credit related unrealized loss position at time of the decision. At December 31, 2023, the Company had no other plans to sell investment securities with unrealized losses, and believes it is more likely than not it would not be required to sell such investment securities before recovery of the respective amortized cost.

F-23

TABLE OF CONTENTS

The amortized cost and estimated fair value of the investment securities portfolio, by contractual maturity, at December 31, 2023, were as follows:

| ​                           
 (Dollars in Thousands)      | ​ 
 ​ | ​ 
 ​ | Available-for-sale 
 Amortized Cost     |   |           |   | ​ | ​ | Fair Value |   |           |   | ​ 
 ​ | ​ 
 ​ |