Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 63

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 63
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These derivative instruments consist of foreign currency forward contracts to accommodate the business needs of its clients. Old National does not designate these foreign currency forward contracts for hedge accounting treatment.

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The following table summarizes Old National’s derivatives not designated as hedges:June 30, 2025December 31, 2024Fair ValueFair Value(dollars in thousands)NotionalAssets (1)Liabilities (2)NotionalAssets (1)Liabilities (2)Interest rate lock commitments$105,050 $903 $— $57,380 $— $166 Forward mortgage loan contracts177,471 — 837 88,808 807 — Customer interest rate swaps9,023,697 67,990 216,304 6,255,123 12,827 219,926 Counterparty interest rate swaps (3)9,023,697 89,996 68,362 6,255,123 128,469 12,902 Customer foreign currency contracts10,044 445 39 10,265 28 121 Counterparty foreign currency contracts10,175 49 367 10,093 192 2 Total$159,383 $285,909 $142,323 $233,117 (1)Derivative assets are included in other assets on the balance sheet.(2)Derivative liabilities are included in other liabilities on the balance sheet.(3)The fair values of certain counterparty interest rate swaps are zero due to the settlement of centrally cleared variation margin rules.The effect of derivatives not designated as hedging instruments on the consolidated statements of income were as follows:Three Months EndedJune 30,(dollars in thousands) 20252024Derivatives Not Designated asHedging InstrumentsLocation of Gain or (Loss)Recognized in Income onDerivativeGain (Loss)Recognized in Income onDerivativeInterest rate contracts (1)Other income/(expense)$123 $(160)Mortgage contractsMortgage banking revenue(122)(693)Foreign currency contractsOther income/(expense)(66)(47)Total $(65)$(900)  Six Months EndedJune 30, 20252024Derivatives Not Designated asHedging InstrumentsLocation of Gain or (Loss)Recognized in Income onDerivativeGain (Loss)Recognized in Income onDerivativeInterest rate contracts (1)Other income/(expense)$147 $