Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 67

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 67
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 the fair value of the underlying collateral using the most recently available appraisals with certain adjustments made based on the type of property, age of appraisal, current status of the property, and other related factors to estimate the current value of the collateral. These commercial and commercial real estate loans had a principal amount of $254.5 million, with a valuation allowance of $65.9 million at September 30, 2025. Old National recorded provision expense associated with these loans totaling $7.7 million and $32.4 million for the three and nine months ended September 30, 2025, respectively, compared to $19.4 million and $33.2 million for the three and nine months ended September 30, 2024, respectively.Other real estate owned and other repossessed property is measured at fair value less costs to sell on a non-recurring basis and had a net carrying amount of $1.2 million at September 30, 2025. There were no writedowns on other real estate owned in the three months ended September 30, 2025 and $0.5 million of write-downs in the nine months ended September 30, 2025, compared to $0.1 million and $0.5 million for the three and nine months ended September 30, 2024, respectively.Assets measured at fair value at December 31, 2024 on a non-recurring basis are summarized below:  Fair Value Measurements at December 31, 2024 Using(dollars in thousands)Carrying ValueQuoted Prices inActive Markets forIdentical Assets (Level 1)SignificantOtherObservableInputs (Level 2)SignificantUnobservableInputs (Level 3)Collateral Dependent Loans:    Commercial loans$33,658 $— $— $33,658 Commercial real estate loans121,393 — — 121,393 Foreclosed Assets:Commercial real estate975 — — 975 Residential244 — — 244 At December 31, 2024, commercial and commercial real estate loans that are deemed collateral dependent had a principal amount of $213.8 million, with a valuation allowance of $58.7 million. Net carrying amount of other real estate owned and other repossessed property totaled $1.2 million at December 31, 2024.

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The table below provides quantitative information about significant