Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 203

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 203
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 is recognized in noninterest expense in correlation to the recognition of tax credits on our tax return. Amortization expense for the Renewable Energy tax credits is included in noninterest expense.(2)All of the tax benefits recognized are included in our income tax expense. The tax benefit recognized for the NMTC and Renewable Energy investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).

NOTE 10 – DEPOSITS

At December 31, 2024, the scheduled maturities of total time deposits were as follows:(dollars in thousands)Due in 2025$6,393,304 Due in 2026256,770 Due in 202763,153 Due in 202817,067 Due in 202918,861 Thereafter6,584 Total$6,755,739 The aggregate amount of time deposits in denominations that met or exceeded the FDIC insurance limit of $250,000 totaled $2.0 billion at December 31, 2024 and $1.5 billion at December 31, 2023.

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NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Securities sold under agreements to repurchase are secured borrowings. Old National pledges investment securities to secure these borrowings. The following table presents securities sold under agreements to repurchase and related weighted-average interest rates for each of the years ended December 31:(dollars in thousands)20242023Outstanding at year-end$268,975 $285,206 Average amount outstanding258,630 332,853 Maximum amount outstanding at any month-end319,423 430,537 Weighted-average interest rate:During year1.06 %0.99 %End of year0.86 3.64 The following table presents the contractual maturity of our secured borrowings and class of collateral pledged:At December 31, 2024Remaining Contractual Maturity of the Agreements(dollars in thousands)Overnight andContinuousUp to30 Days30-90 DaysGreater Than90 daysTotalRepurchase Agreements:U.S. Treasury and agency securities$268,975 $— $— $— $268,975 Total$268,975 $— $— $— $268,975 

NOTE 12