Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 106

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 106
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875,192 5,157,254 43.4 %Time deposits9,161,404 6,755,739 2,405,665 35.6 %Total deposits55,006,184 40,823,560 14,182,624 34.7 %Wholesale borrowings:Federal funds purchased and interbank borrowings1 385 (384)(99.7)%Securities sold under agreements to repurchase277,594 268,975 8,619 3.2 %Federal Home Loan Bank advances5,663,361 4,452,559 1,210,802 27.2 %Other borrowings825,425 689,618 135,807 19.7 %Total wholesale borrowings6,766,381 5,411,537 1,354,844 25.0 %Total funding$61,772,565 $46,235,097 $15,537,468 33.6 %

The increase in total deposits was due to Bremer deposits assumed and organic growth. We use wholesale funding to augment deposit funding and to help maintain our desired interest rate risk position. Wholesale funding as a percentage of total funding was 11% at September 30, 2025, compared to 12% at December 31, 2024.

71

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities at September 30, 2025 increased $151.5 million compared to December 31, 2024 primarily due to the Bremer acquisition and higher derivative liabilities.

Capital 

Shareholders’ equity totaled $8.3 billion at September 30, 2025 and $6.3 billion at December 31, 2024. Old National issued 50.2 million shares of Common Stock in conjunction with the acquisition of Bremer on May 1, 2025 adding $1.0 billion in shareholders’ equity. In addition, Old National issued 21.9 million shares of Common Stock in the settlement of the forward sale agreements adding $443.2 million in shareholders’ equity. Retained earnings and changes in unrealized losses on available-for-sale investment securities also contributed to the increase in shareholders’ equity during the nine months ended September 30, 2025. These increases were partially offset by dividends and the repurchase of 1.1 million shares of Common Stock during