Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 46

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 46
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 real estate8,854 5,077 27,017 40,948 72,083 113,031 Total$9,931 $7,890 $27,997 $45,818 $86,949 $132,767 

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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 June 30, 2025Commercial6.5Commercial real estate9.8Total8.2Three Months Ended June 30, 2024Commercial10.0Commercial real estate10.6Total10.6Six Months Ended June 30, 2025Commercial7.1Commercial real estate8.4Total7.9Six Months Ended June 30, 2024Commercial9.9Commercial real estate9.2Total9.3There were payment defaults on $4.6 million and $9.1 million of loans during the three and six months ended June 30, 2025, respectively, 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 loans. There were payment defaults on $27.0 million of loans during the three and six months ended June 30, 2024 to borrowers whose loans had been modified within the previous twelve months.Old National had not committed to lend any material additional funds to the borrowers whose loans were modified due to financial difficulties at June 30, 2025 or December 31, 2024.Purchased Credit Deteriorated LoansOld National has purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans at acquisition was as follows:(dollars in thousands)Bremer (1)CapStar (2)Purchase price of loans at acquisition$1,889,330 $610,691 Allowance for credit losses at acquisition90,442 26,725 Non-credit discount at acquisition75,817 41,886 Par value of acquired loans at acquisition$2,055,589 $679,302 (1)Old National acquired Bremer effective May 1, 2025.(2)Old National acquired CapStar effective April 1, 2024.

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NOTE 7 – LEASES

Old National has operating and finance leases for land