Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 118

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 118
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05 Total$9,211,229 3.34 %

Our ability to acquire funding at competitive prices is influenced by rating agencies’ views of our credit quality, liquidity, capital, and earnings.

The credit ratings of Old National and Old National Bank at June 30, 2025 are shown in the following table.

 Moody’s Investors Service Long-termShort-termOld NationalBaa1N/AOld National BankA1P-1

Old National Bank maintains relationships in capital markets with brokers and dealers to issue certificates of deposit and short-term and medium-term bank notes as well. At June 30, 2025, Old National and its subsidiaries had the following availability of liquid funds and borrowings:

(dollars in thousands)Parent CompanySubsidiariesAvailable liquid funds:Cash and due from banks$485,070 $1,323,501 Unencumbered government-issued debt securities— 5,651,871 Unencumbered investment grade municipal securities— 62,589 Unencumbered corporate securities— 33,747 Availability of borrowings*:Amount available from Federal Reserve discount window— 4,555,409 Amount available from Federal Home Loan Bank— 7,832,136 Total available funds$485,070 $19,459,253 

*  Based on collateral pledged

Old National Bancorp has routine funding requirements consisting primarily of operating expenses, dividends to shareholders, debt service, net derivative cash flows, and funds used for acquisitions. Old National Bancorp can obtain funding to meet its obligations from dividends and management fees collected from its subsidiaries, operating line of credit, and through the issuance of debt securities. Additionally, Old National Bancorp has a shelf registration in place with the SEC permitting ready access to the public debt and equity markets. At June 30, 2025, Old National Bancorp’s other borrowings outstanding were $389.0 million. Management believes the Company has the ability to generate and obtain adequate amounts of liquidity to meet its requirements in the short-term and the long-term.

Federal banking laws regulate the amount of dividends that may be paid by Old National Bank to Old National Bancorp on an unconsolidated basis without obtaining prior regulatory approval. Prior regulatory approval is required if dividends to be declared in any year would exceed net earnings of the current year plus retained net profits for the preceding two years. Prior regulatory approval to pay dividends was not required in 2024 and is