Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 178

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 178
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Commercial real estate loans108,763 — — 108,763 Foreclosed Assets:Commercial975 — — 975 Residential1,809 — — 1,809 

47

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 $213.5 million, with a valuation allowance of $53.0 million at June 30, 2025. Old National recorded provision expense associated with these loans totaling $15.0 million and $24.6 million for the three and six months ended June 30, 2025, respectively, compared to $7.4 million and $17.0 million for the three and six months ended June 30, 2024, respectively.Other real estate owned and other repossessed property is measured at fair value less costs to sell on a non-recurring basis and had a net carrying amount of $2.8 million at June 30, 2025. There were $0.5 million of write-downs on other real estate owned for the three and six months ended June 30, 2025, respectively, compared to $0.4 million for the three and six months ended June 30, 2024.Assets measured at fair value at December 31, 2024 on a non-recurring basis are summarized below:  Fair Value Measurements at December 31, 2024 Using(dollars in thousands)Carrying ValueQuoted Prices inActive Markets forIdentical Assets (Level 1)SignificantOtherObservableInputs (Level 2)SignificantUnobservableInputs (Level 3)Collateral Dependent Loans:    Commercial loans$33,658 $— $— $33,658 Commercial real estate loans121,393 — — 121,393 Foreclosed Assets:Commercial real estate975 — — 975 Residential244 — — 244 At December 31, 2024, commercial and commercial real estate loans that are deemed collateral dependent had a principal amount of $213.8