Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 53

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 53
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,143 89,572 34,285 6,255,123 128,469 12,902 Customer foreign currency contracts14,703 384 272 10,265 28 121 Counterparty foreign currency contracts15,968 122 81 10,093 192 2 Total$124,908 $196,635 $142,323 $233,117 (1)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 EndedMarch 31,(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)$23 $568 Mortgage contractsMortgage banking revenue(381)737 Foreign currency contractsOther income/(expense)53 (34)Total $(305)$1,271 (1)Includes the valuation differences between the customer and offsetting swaps.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:March 31, 2025December 31, 2024(dollars in thousands)AssetsLiabilitiesAssetsLiabilitiesGross amounts recognized$138,298 $202,021 $146,478 $244,313 Less: amounts offset in the Consolidated Balance Sheet— — — — Net amount presented in the Consolidated Balance Sheet138,298 202,021 146,478 244,313 Gross amounts not offset in the Consolidated Balance SheetOffsetting derivative positions(39,671)(39,671)(24,098)(24,098)Cash collateral pledged— (68,359)— (112,499)Net credit exposure$98,627 $93,991 $122,380 $107