Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 175

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 175
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2025, compared to 5.09 at December 31, 2024. Effective duration represents the percentage change in the fair value of the portfolio in response to a change in interest rates and is used to evaluate the portfolio’s price volatility at a single point in time. Generally, there is more uncertainty in interest rates over a longer average maturity, resulting in a higher duration percentage. The annualized average yields on investment securities, on a taxable equivalent basis, were 3.58% for the three months ended March 31, 2025, respectively, compared to 3.47% for the three months ended March 31, 2024.

Loan Portfolio

We lend to commercial and commercial real estate clients in many diverse industries including real estate rental and leasing, manufacturing, healthcare, wholesale trade, construction, and agriculture, among others. Old National manages concentrations of credit exposure by industry, product, geography, client relationship, and loan size. The following table presents the composition of the loan portfolio:

(dollars in thousands)March 31,2025December 31, 2024$ Change% ChangeCommercial$10,650,615 $10,288,560 $362,055 3.5 %Commercial real estate16,135,327 16,307,486 (172,159)(1.1)Residential real estate6,771,694 6,797,586 (25,892)(0.4)Consumer2,856,308 2,892,255 (35,947)(1.2)Total loans$36,413,944 $36,285,887 $128,057 0.4 %

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The following table presents the composition of the loan portfolio by state:

(dollars in thousands)CommercialCommercialReal EstateResidentialReal EstateConsumerTotalLoansPercent ofTotalMarch 31, 2025Illinois$2,937,112 $3,686,117 $1,366,820 $572,324 $8,562,373 24 %Indiana1,530,702 1,789,345 1,059,127 889,264 5,268,438 14 %Minnesota918,878 2,156,990 606,255 140,557 3,822,680 10 %Wisconsin885,892 2,194,294 477,875 144,