Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 16

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 16
---
 the weighted-average number of common shares outstanding are made only when such adjustments will dilute net income per common share. Net income applicable to common shares is then divided by the weighted-average number of common shares and common share equivalents during the period.The following table presents the calculation of basic and diluted net income per common share:Three Months EndedMarch 31,(dollars and shares in thousands, except per share data)20252024Net income$144,659 $120,284 Preferred dividends(4,034)(4,034)Net income applicable to common shares$140,625 $116,250 Weighted average common shares outstanding:Weighted average common shares outstanding (basic)315,925 290,980 Effect of dilutive securities:Restricted stock2,779 1,227 Forward sale (1)2,312 — Weighted average diluted shares outstanding321,016 292,207 Basic Net Income Per Common Share$0.45 $0.40 Diluted Net Income Per Common Share$0.44 $0.40 (1)    Dilutive forward sale shares represent incremental shares related to the forward sale agreements. Dilution occurred since the average market price of the Company’s common shares for the three months ended March 31, 2025 was higher than the average forward sale price (as determined under the terms of the forward sale agreements). See Note 3 to the consolidated financial statements for additional information regarding these forward sale agreements.

13

NOTE 5 – INVESTMENT SECURITIES

The following table summarizes the amortized cost and fair value of the available-for-sale portfolio and the corresponding amounts of gross unrealized gains, unrealized losses, and basis adjustments in accumulated other comprehensive income (loss) (“AOCI”).(dollars in thousands)AmortizedCostUnrealizedGainsUnrealizedLossesBasisAdjustments (1)FairValueMarch 31, 2025    Available-for-Sale    U.S. Treasury$261,345 $87 $(10,931)$(45,964)$204,537 U.S. government-sponsored entities and agencies1,554,502 238 (161,684)(68,253)1,324,803 Mortgage-backed securities - Agency6,064,171 18,649 (582,801)— 5,500,019 States and political subdivisions466,473 213 (29,073