Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 217

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 217
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490 36.3 %Total deposits54,357,683 40,823,560 13,534,123 33.2 %Wholesale borrowings:Federal funds purchased and interbank borrowings340,246 385 339,861 N/M   Securities sold under agreements to repurchase297,637 268,975 28,662 10.7 %Federal Home Loan Bank advances5,835,918 4,452,559 1,383,359 31.1 %Other borrowings872,297 689,618 182,679 26.5 %Total wholesale borrowings7,346,098 5,411,537 1,934,561 35.7 %Total funding$61,703,781 $46,235,097 $15,468,684 33.5 %

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 12% at both June 30, 2025 and December 31, 2024.

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Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities at June 30, 2025 increased $172.8 million compared to December 31, 2024 primarily due to the Bremer acquisition and higher derivative liabilities.

Capital 

Shareholders’ equity totaled $8.1 billion at June 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 were partially offset by dividends during the six months ended June 30, 2025.

Capital Adequacy

Old National and the banking industry are subject to various regulatory capital requirements administered by the federal banking agencies. At June 30, 2025, Old National and its bank subsidiary exceeded the regulatory minimums and Old National Bank met the regulatory definition of “well-capitalized” based on