Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 45

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 45
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 summarizes the nature of the financial difficulty modifications by class of loans:(dollars in thousands)Weighted-AverageTermExtension(in months)Weighted-AveragePaymentDelay(in months)Weighted-AverageInterest RateReductionThree Months Ended September 30, 2025Commercial——1.50 %Commercial real estate8.3—— %Total8.3—1.50 %Three Months Ended September 30, 2024Commercial4.46.0— %Commercial real estate6.57.0— %Total5.26.4— %Nine Months Ended September 30, 2025Commercial4.5—1.50 %Commercial real estate8.1—— %Total7.0—1.50 %Nine Months Ended September 30, 2024Commercial6.86.0— %Commercial real estate8.87.0— %Total8.26.4— %There were no payment defaults of loans during the three months ended September 30, 2025 to borrowers whose loans were modified due to financial difficulties within the previous twelve months. There were payment defaults on $16.9 million of loans during the nine months ended September 30, 2025 to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on loans. There were payment defaults on $3.9 million and $25.3 million of loans during the three and nine months ended September 30, 2024, respectively, to borrowers whose loans had been modified within the previous twelve months.Old National had not committed to lend any material additional funds to the borrowers whose loans were modified due to financial difficulties at September 30, 2025 or December 31, 2024.Purchased Credit Deteriorated LoansOld National has purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans at acquisition was as follows:(dollars in thousands)Bremer (1)CapStar (2)Purchase price of loans at acquisition$1,876,520 $610,691 Allowance for credit losses at acquisition103,546 26,725 Non-credit discount at acquisition75,882 41,886 Par value of acquired loans at acquisition$2,055,948 $679,302 (1)Old National acquired Bremer