Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 119

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 119
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 clients in many diverse industries including, among others, real estate rental and leasing, manufacturing, healthcare, wholesale trade, construction, and agriculture. Old National manages concentrations of credit exposure by industry, product, geography, client relationship, and loan size. At December 31, 2024, our average commercial loan size was approximately $716,000 and our average commercial real estate loan size was approximately $1,567,000. In addition, while loans to lessors of residential and non-residential real estate exceed 10% of total loans, no individual sub-segment category within those broader categories reaches the 10% threshold. At December 31, 2024, we had minimal exposure to foreign borrowers and no sovereign debt. Our policy is to concentrate our lending activity in the geographic market areas we serve, primarily in the Midwest and Southeast regions of the United States.

The following table presents a summary of under-performing assets as well as criticized and classified assets at December 31:

(dollars in thousands)20242023Nonaccrual loans$447,979 $274,821 Past due loans (90 days or more and still accruing)4,060 961 Foreclosed assets4,294 9,434 Total under-performing assets$456,333 $285,216 Classified loans (includes nonaccrual, past due 90 days    or more, and other problem loans)$1,525,452 $875,140 Other classified assets (1)58,954 48,930 Special mention loans908,630 843,920 Total criticized and classified assets$2,493,036 $1,767,990 Asset Quality Ratios:Nonaccrual loans/total loans (2)1.23 %0.83 %Under-performing assets/total loans (2)1.26 0.86 Under-performing assets/total assets0.85 0.58 Allowance for credit losses on loans/under-performing assets86.02 107.85 Allowance for credit losses on loans/nonaccrual loans87.62 111.93 

(1)Includes investment securities that fell below investment grade rating.

(2)Loans exclude loans held-for-sale.

Under-performing assets increased to $456.3 million at December 31, 2024, compared to $285.2 million at December 31, 202