Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 165

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 165
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24,869 New Markets Tax Credit (“NMTC”)Consolidation112,773 — 60,462 — Renewable EnergyEquity4 — 4 — Total $388,342 $147,508 $290,651 $140,214 (1)All commitments will be paid by Old National by December 31, 2040. 

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The following table summarizes the amortization expense and tax benefit recognized for Old National’s qualified affordable housing projects and other tax credit investments:(dollars in thousands)AmortizationExpense (1)Tax Expense(Benefit)Recognized (2)Three Months Ended September 30, 2025  LIHTC$3,699 $(4,731)FHTC2,432 (2,760)NMTC7,057 (8,471)Total$13,188 $(15,962)Three Months Ended September 30, 2024LIHTC$2,777 $(3,739)FHTC738 (690)NMTC3,076 (3,825)Total$6,591 $(8,254)Nine Months Ended September 30, 2025LIHTC$10,108 $(13,547)FHTC3,602 (4,178)NMTC16,296 (19,780)Total$30,006 $(37,505)Nine Months Ended September 30, 2024LIHTC$8,042 $(10,813)FHTC2,000 (2,043)NMTC8,168 (10,175)Renewable Energy197 — Total$18,407 $(23,031)(1)The amortization expense for the LIHTC and FHTC investments is included in our income tax expense. NMTC amortization is recognized in noninterest expense in correlation to the recognition of tax credits on our tax return. Amortization expense for the Renewable Energy tax credits is included in noninterest expense.(2)All of the tax benefits recognized are included in our income tax expense. The tax benefit recognized for the NMTC investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).

NOTE 10 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Securities sold under