Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 178

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 178
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Derivative assets are included in other assets on the balance sheet.(2)Derivative liabilities are included in other liabilities on the balance sheet.(3)The fair values of certain counterparty interest rate swaps are zero due to the settlement of centrally cleared variation margin rules.The effect of derivatives not designated as hedging instruments on the consolidated statements of income were as follows:Three Months EndedSeptember 30,(dollars in thousands) 20252024Derivatives Not Designated asHedging InstrumentsLocation of Gain or (Loss)Recognized in Income onDerivativeGain (Loss)Recognized in Income onDerivativeInterest rate contracts (1)Other income/(expense)$(826)$(89)Mortgage contractsMortgage banking revenue8 114 Foreign currency contractsOther income/(expense)(21)(27)Total $(839)$(2)  Nine Months EndedSeptember 30, 20252024Derivatives Not Designated asHedging InstrumentsLocation of Gain or (Loss)Recognized in Income onDerivativeGain (Loss)Recognized in Income onDerivativeInterest rate contracts (1)Other income/(expense)$(679)$319 Mortgage contractsMortgage banking revenue(495)158 Foreign currency contractsOther income/(expense)(33)(108)Total $(1,207)$369 (1)Includes the valuation differences between the customer and offsetting swaps.

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Fair Value of Offsetting DerivativesCertain derivative instruments are subject to master netting agreements with counterparties that provide rights of setoff. The Company records these transactions at their gross fair values and does not offset derivative assets and liabilities in the Consolidated Balance Sheet. The following table presents the fair value of the Company’s derivatives and offsetting positions:September 30, 2025December 31, 2024(dollars in thousands)AssetsLiabilitiesAssetsLiabilitiesGross amounts recognized$181,799 $277,499 $146,478 $244,313 Less: amounts offset in the Consolidated Balance Sheet— — — — Net amount presented in the Consolidated Balance Sheet181,799 277,499 146,478 244,313 Gross amounts not offset in the Consolidated Balance SheetOffsetting derivative positions(86,013)(86,013)(24,098)(24,098)Cash collateral pledged(338)(23,349)— (112,499)Net credit exposure$95,448 $168