Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 38

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 38
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, the amount forgiven is charged-off against the allowance for credit losses on loans.The following table presents the amortized cost basis of financial difficulty modifications that were modified by class of loans and type of modification:(dollars in thousands)TermExtensionTotalClass ofLoansThree Months Ended March 31, 2025Commercial$13,945 0.1 %Commercial real estate27,383 0.2 %Total$41,328 0.1 %Three Months Ended March 31, 2024Commercial$29,426 0.3 %Commercial real estate120,891 0.8 %Total$150,317 0.4 %

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Old National monitors the performance of financial difficulty modifications to understand the effectiveness of its efforts. The following table presents the performance of financial difficulty modifications in the twelve months following modification:(dollars in thousands)30-59 DaysPast Due60-89 DaysPast DuePast Due90 Days orMoreTotalPast DueCurrentTotalLoansMarch 31, 2025Commercial$4,607 $— $4,701 $9,308 $53,806 $63,114 Commercial real estate5,612 — 1,730 7,342 154,164 161,506 Total$10,219 $— $6,431 $16,650 $207,970 $224,620 March 31, 2024Commercial$— $— $— $— $29,426 $29,426 Commercial real estate4,059 31,222 — 35,281 85,610 120,891 Total$4,059 $31,222 $— $35,281 $115,036 $150,317 The following table summarizes the nature of the financial difficulty modifications by class of loans:(dollars in thousands)Weighted-AverageTermExtension(in months)Three Months Ended March 31, 2025Commercial6.8Commercial real estate9.8Total8.8Three Months Ended March 31, 2024Commercial9.1Commercial real estate8.1Total8.6There were payment defaults on $2.6 million of loans during the three months ended March 31, 2025 to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on