Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 212

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 212
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.3 million for the three months ended September 30, 2025 compared to the same period in 2024 driven by the acquisition of Bremer and organic growth of fee-based businesses.

Noninterest income for the nine months ended September 30, 2025 included a $21.0 million gain in other income associated with the freezing of benefits of the Bremer pension plan. Excluding this gain, noninterest income increased to $335.8 million for the nine months ended September 30, 2025 compared to the same period in 2024 driven by the acquisition of Bremer, the CapStar acquisition in April 2024, organic growth of fee-based businesses, and higher other income. 

Mortgage banking revenue increased $2.8 million and $8.1 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024 primarily due to higher mortgage originations and increased loan sales.

Capital markets income increased $5.2 million and $9.2 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024 primarily due to higher levels of commercial real estate client interest rate swap fees.

Other income increased $6.1 million and $38.1 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024 primarily due to additional other income associated with the acquisition of Bremer. In addition, other income for the nine months ended September 30, 2025 compared to the same period in 2024 was impacted by the $21.0 million pre-tax gain associated with the freezing of benefits of the Bremer pension plan, the CapStar acquisition, and $4.2 million of net gains on sales of commercial loans.

Noninterest Expense

The following table details the components in noninterest expense:

Three Months EndedSeptember 30,%Nine Months EndedSeptember 30,%(dollars in thousands)20252024Change20252024ChangeSalaries and employee benefits$211,345 $147,494 43.3 %$561,762 $456,490 23.1 %Occupancy 34,442 27,130 27.0 93,927 80,696 16.4 Equipment 12,703 9,888 28.5 34,170 27,263 25.3