Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 49

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 49
---
 31, 2024 and there was no impairment. No events or circumstances since the August 31, 2024 annual impairment test were noted that would indicate it was more likely than not a goodwill impairment exists.The gross carrying amounts and accumulated amortization of other intangible assets were as follows: (dollars in thousands)GrossCarryingAmountAccumulatedAmortizationand ImpairmentNetCarryingAmountJune 30, 2025   Core deposit$586,735 $(119,268)$467,467 Customer relationship93,892 (26,873)67,019 Total other intangible assets$680,627 $(146,141)$534,486 December 31, 2024Core deposit$189,636 $(95,950)$93,686 Customer relationship50,892 (23,731)27,161 Total other intangible assets$240,528 $(119,681)$120,847 Other intangible assets consist of core deposit intangibles and customer relationship intangibles and are being amortized primarily on an accelerated basis over their estimated useful lives, generally over a period of 5 to 15 years. During the three months ended June 30, 2025, Old National recorded $397.1 million of core deposit intangibles and $43.0 million of customer relationship intangibles associated with the acquisition of Bremer. See Note 3 to the consolidated financial statements for additional detail regarding this transaction.

32

Old National reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. No impairment charges were recorded during the six months ended June 30, 2025 or 2024. Total amortization expense associated with intangible assets was $19.6 million and $26.5 million for the three and six months ended June 30, 2025, respectively, compared to $7.4 million and $12.9 million for the three and six months ended June 30, 2024, respectively.Estimated amortization expense for future years is as follows:(dollars in thousands) 2025 remaining$52,200 202696,109 202784,810 202873,689 202962,983 Thereafter164,695 Total$534,486 

NOTE 9 – QUALIFIED AFFORDABLE HOUSING PROJECTS AND OTHER