Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 163

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 163
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 | ​ | ​ | ​                                           | $ | -208,585 | ​ | ​ | ​ | ​            | $ | 1,332,620 | ​ | ​ |

(A) Reflects the allocation of net income after the payment of dividends and allocation of other comprehensive income (loss). (B) Effective January 1, 2023 the Company adopted accounting guidance requiring the recognition of credit losses on financial instruments using an expected loss model rather than incurred losses. Upon adoption, the Company decreased its allowance for credit losses and increased retained earnings net of deferred taxes through a cumulative-effect adjustment.

See Notes to Consolidated Financial Statements F-8

TABLE OF CONTENTS

Bremer Financial Corporation Consolidated Statement of Cash Flows

| Year Ended December 31 (Dollars in Thousands)                                    | ​ | ​ | 2023 |   |          |   | ​ | ​ | 2022 |   |            |   | ​ |
|:---------------------------------------------------------------------------------|:--|:--|:-----|:--|---------:|:--|:--|:--|:-----|:--|-----------:|:--|:--|
| Operating Activities                                                             | ​ | ​ | ​    | ​ |        ​ | ​ | ​ | ​ | ​    | ​ |          ​ | ​ | ​ |
| Net income                                                                       | ​ | ​ | ​    | $ |  124,008 | ​ | ​ | ​ | ​    | $ |    198,460 | ​ | ​ |
| Adjustments to reconcile net income to net cash provided by operating activities | ​ | ​ | ​    | ​ |        ​ | ​ | ​ | ​ | ​    | ​ |          ​ | ​ | ​ |
| Provision for credit losses                                                      | ​ | ​ | ​    | ​ |   19,187 | ​ | ​ | ​ | ​    | ​ |     -9,030 | ​ | ​ |
| Depreciation and amortization                                                    | ​ | ​ | ​    | ​ |   12,518 | ​ | ​ | ​ | ​    | ​ |     13,959 | ​ | ​ |
| Amortization and accretion, net                                                  | ​ | ​ | ​    | ​ |    9,128 | ​ | ​ | ​ | ​    | ​ |      6,503 | ​ | ​ |
| Deferred income tax provision                                                    | ​ | ​ | ​    | ​ |   -