Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 232

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 232
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$6,774,009 $6,113,499 OLD NATIONAL BANCORP (PARENT COMPANY ONLY)CONDENSED STATEMENTS OF INCOME Years Ended December 31,(dollars in thousands)202420232022IncomeDividends from affiliates$385,000 $150,000 $— Other income9,004 2,919 1,733 Other income from affiliates5 5 5 Total income394,009 152,924 1,738 ExpenseInterest on borrowings19,445 20,700 16,662 Other expenses41,231 43,185 37,629 Total expense60,676 63,885 54,291 Income (loss) before income taxes and equity   in undistributed earnings of affiliates333,333 89,039 (52,553)Income tax expense (benefit)(6,642)(11,325)(9,901)Income (loss) before equity in undistributed   earnings of affiliates339,975 100,364 (42,652)Equity in undistributed earnings of affiliates199,213 481,628 470,939 Net income539,188 581,992 428,287 Preferred dividends(16,135)(16,135)(14,118)Net income applicable to common shareholders$523,053 $565,857 $414,169 

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OLD NATIONAL BANCORP (PARENT COMPANY ONLY)CONDENSED STATEMENT OF CASH FLOWS Years Ended December 31,(dollars in thousands)202420232022Cash Flows From Operating ActivitiesNet income$539,188 $581,992 $428,287 Adjustments to reconcile net income to cash   provided by operating activities:Depreciation26 18 26 Share-based compensation expense32,283 27,910 28,656 (Increase) decrease in other assets12,149 (19,353)(40,620)Increase (decrease) in other liabilities11,772 (2,561)10,455 Equity in undistributed earnings of affiliates(199,213)(481,628)(470,939)Net cash flows provided by (used in) operating activities396,205 106,378 (44,135)Cash Flows From Investing ActivitiesNet cash and cash equivalents of acquisitions— — 573,099 Proceeds from sales of