Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 51

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 51
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 $5,386 $4,155 $11,196 (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.

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The effect of derivative instruments in fair value hedging relationships on the consolidated statements of income were as follows:(dollars in thousands)Gain (Loss)Recognizedin Income onRelatedHedgedItemsDerivatives in Fair Value HedgingRelationshipsLocation of Gain or (Loss) Recognized in Income on DerivativeGain (Loss)Recognizedin Income onDerivativeHedged Items in Fair ValueHedgingRelationshipsLocation of Gain or (Loss) Recognized in in Income on Related Hedged ItemThree Months EndedMarch 31, 2025Interest rate contractsInterest income/(expense)$8,976 Fixed-rate debtInterest income/(expense)$(8,933)Interest rate contractsInterest income/(expense)(19,167)Fixed-rateinvestmentsecuritiesInterest income/(expense)19,146 Total$(10,191)$10,213 Three Months EndedMarch 31, 2024Interest rate contractsInterest income/(expense)$(13,970)Fixed-rate debtInterest income/(expense)$14,127 Interest rate contractsInterest income/(expense)25,848 Fixed-rateinvestmentsecuritiesInterest income/(expense)(25,903)Total$11,878 $(11,776)The effect of derivative instruments in cash flow hedging relationships on the consolidated statements of income were as follows:Three Months EndedMarch 31,Three Months EndedMarch 31,(dollars in thousands) 2025202420252024Derivatives inCash Flow HedgingRelationshipsLocation of Gain or(Loss) Reclassifiedfrom AOCI into IncomeGain (Loss)Recognized in OtherComprehensiveIncome on DerivativeGain (Loss)Reclassified fromAOCI intoIncomeInterest rate contractsInterest income/(expense)$11,386 $(19,159)$(2,294)$(5,910)Amounts reported in AOCI related to cash flow hedges will be reclassified to interest income or interest expense as interest payments are received or paid on Old National’s derivative instruments. During the next 12 months, we estimate that $3.9 million will be reclassified to interest income and $16.6 million will be