Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 70

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 70
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1.1 million and $1.7 million for the three and six months ended June 30, 2025, respectively, compared to $0.5 million and $0.8 million for the three and six months ended June 30, 2024, respectively.Newly originated conforming fixed-rate and adjustable-rate first mortgage loans are intended for sale and are hedged with derivative instruments. Old National has elected the fair value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplification. The fair value option was not elected for loans held for investment.

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The difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows: (dollars in thousands)AggregateFair ValueDifference Contractual PrincipalJune 30, 2025   Loans held-for-sale$77,618 $1,749 $75,869 December 31, 2024Loans held-for-sale$34,483 $271 $34,212 Accrued interest at period end is included in the fair value of the instruments.The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value:(dollars in thousands)OtherGains and (Losses)Interest IncomeInterest (Expense)Total Changesin Fair ValuesIncluded inCurrent Period EarningsThree Months Ended June 30, 2025    Loans held-for-sale$783 $101 $— $884 Three Months Ended June 30, 2024Loans held-for-sale$105 $6 $— $111 Six Months Ended June 30, 2025Loans held-for-sale$1,386 $101 $(9)$1,478 Six Months Ended June 30, 2024Loans held-for-sale$(97)$6 $(5)$(96)

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Financial Instruments Not Carried at Fair ValueThe carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows:   Fair Value Measurements at June 30, 2025 Using(dollars in thousands)Carrying ValueQuoted Prices inActive Marketsfor IdenticalAssets (Level 1)SignificantOtherObservableInputs (Level 2)SignificantUnobservableInputs (Level 3)Financial Assets    Cash, due from banks,