Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 216

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 216
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The Company invests in certain structures, which are designed to provide income tax credits on a federal and/or state basis, including New Market Tax Credits (NMTCs), low-income housing tax credits, and historic tax credits. Tax credits recognized based on these investments were $8.2 million and $6.7 million for the years ended December 31, 2023 and 2022, respectively. Temporary differences resulting in deferred tax assets and liabilities, included on a net basis within accrued expenses and other liabilities on the consolidated balance sheet, were as follows at December 31:

| (Dollars in Thousands)                                              
 Deferred tax assets                                                 | ​ 
 ​ | ​ 
 ​ | 2023 
 ​    | ​ |       ​ | ​ | ​ 
 ​ | ​ 
 ​ | 2022 
 ​    | ​ |       ​ | ​ | ​ 
 ​ |
|:--------------------------------------------------------------------|:--|:--|:-----|:--|--------:|:--|:--|:--|:-----|:--|--------:|:--|:--|
| Allowance for credit losses                                         | ​ | ​ | ​    | $ |  28,827 | ​ | ​ | ​ | ​    | $ |  32,433 | ​ | ​ |
| Accumulated other comprehensive loss, employee benefit plans        | ​ | ​ | ​    | ​ |  27,567 | ​ | ​ | ​ | ​    | ​ |  30,163 | ​ | ​ |
| Compensation and employee benefits                                  | ​ | ​ | ​    | ​ |  16,955 | ​ | ​ | ​ | ​    | ​ |  18,711 | ​ | ​ |
| Lease liability                                                     | ​ | ​ | ​    | ​ |   5,299 | ​ | ​ | ​ | ​    | ​ |   5,402 | ​ | ​ |
| Deferred loan fees                                                  | ​ | ​ | ​    | ​ |   3,564 | ​ | ​ | ​ | ​    | ​ |   3,217 | ​ | ​ |
| Nonaccrual loan interest income                                     | ​ | ​ | ​    | ​ |   1,353 | ​ | ​ | ​ | ​    | ​ |   1,389 | ​ | ​ |
| Partnership investment                                              | ​ | ​ | ​    | ​ |     607 | ​ | ​ | ​ |