Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 208

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 208
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346)$(112,664)$(31,549)$137 $(786,422)(1)See table below for details about reclassifications to income.The following table summarizes the significant amounts reclassified out of each component of AOCI:Years Ended December 31,(dollars in thousands)202420232022Details about AOCI ComponentsAmount Reclassifiedfrom AOCIAffected Line Item in theStatement of IncomeUnrealized gains and losses on   available-for-sale debt securities$(212)$(6,265)$(88)Debt securities gains (losses), net55 1,620 21 Income tax (expense) benefit$(157)$(4,645)$(67)Net incomeAmortization of unrealized losses on   held-to-maturity securities transferred   from available-for-sale$(17,664)$(21,239)$(16,612)Interest income (expense)4,486 5,372 4,047 Income tax (expense) benefit$(13,178)$(15,867)$(12,565)Net incomeGains and losses on hedges   Interest rate contracts$(17,628)$15,067 $(2,587)Interest income (expense)4,559 (3,926)636 Income tax (expense) benefit$(13,069)$11,141 $(1,951)Net incomeAmortization of defined benefit   pension itemsActuarial gains (losses)$— $182 $(139)Salaries and employee benefits— (45)34 Income tax (expense) benefit$— $137 $(105)Net incomeTotal reclassifications for the period$(26,404)$(9,234)$(14,688)Net income

116

NOTE 15 – INCOME TAXES

Following is a summary of the major items comprising the differences in taxes from continuing operations computed at the federal statutory rate and as recorded in the consolidated statement of income:Years Ended December 31,(dollars in thousands)202420232022Provision at statutory rate of 21%$142,892 $157,774 $114,394 Tax-exempt income:Tax-exempt interest(19,439)(18,582)(14,588)Section 291/265 interest disallowance3,620 2,392 363 Company-owned life insurance income(4,428)(3,125)(2,891)Tax-exempt income(20,247