Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 37

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 37
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 March 31, 2025 and 2024.

25

When management determines that foreclosure is probable, expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. A loan is considered collateral dependent when the borrower is experiencing financial difficulty, and the loan is expected to be repaid substantially through the operation or sale of the collateral. The class of loan represents the primary collateral type associated with the loan. Significant quarter-over-quarter changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraisal value. The following table presents the amortized cost basis of collateral dependent loans by class of loan:Type of Collateral(dollars in thousands)RealEstateBlanketLienInvestmentSecurities/CashAutoOtherMarch 31, 2025Commercial$19,024 $85,549 $8,062 $6,322 $4,055 Commercial real estate221,604 1,508 1,015 — 126 BBCC3,263 839 338 232 — Residential69,636 — — — — Indirect— — — 5,447 — Direct2,894 27 4 356 22 Home equity21,098 — — — — Total loans$337,519 $87,923 $9,419 $12,357 $4,203 December 31, 2024Commercial$17,520 $68,985 $6,980 $6,544 $5,215 Commercial real estate228,952 542 1,046 — — BBCC3,201 1,137 86 248 — Residential60,454 — — — — Indirect— — — 5,372 — Direct2,623 16 23 396 34 Home equity20,711 — — — — Total loans$333,461 $70,680 $8,135 $12,560 $5,249 Financial Difficulty ModificationsOccasionally, Old National modifies loans to borrowers experiencing financial difficulty in the form of principal forgiveness, term extension, an other-than-insignificant payment delay, or interest rate reduction (or a combination thereof). When principal forgiveness is provided