Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 196

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 196
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31, 2023Commercial$21,631 $— 0.2 %Commercial real estate121,529 — 0.9 %Total$143,160 $— 0.4 %

106

Old National monitors the performance of financial difficulty modifications to understand the effectiveness of its efforts. The following table presents the performance of financial difficulty modifications in the twelve months following modification:(dollars in thousands)30-59 DaysPast Due60-89 DaysPast DuePast Due90 Days orMoreTotalPast DueCurrentTotalLoansDecember 31, 2024Commercial$— $1,352 $3,900 $5,252 $42,715 $47,967 Commercial real estate3,804 1,741 4,920 10,465 144,184 154,649 Total$3,804 $3,093 $8,820 $15,717 $186,899 $202,616 December 31, 2023Commercial$— $— $— $— $21,631 $21,631 Commercial real estate$5,287 $— $— $5,287 $116,242 $121,529 Total$5,287 $— $— $5,287 $137,873 $143,160 The following table summarizes the nature of the financial difficulty modifications by class of loans:Weighted-AverageTermExtension(in months)Weighted-AveragePaymentDelay(in months)Year Ended December 31, 2024Commercial7.26.0Commercial real estate7.27.0Total7.26.4Year Ended December 31, 2023Commercial6.1—Commercial real estate8.6—Total8.2—There were payment defaults on $8.8 million of loans during the year ended December 31, 2024 to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on loans. There were no material payment defaults on these loans subsequent to their modifications during the year ended December 31, 2023. At December 31, 2024, Old National had not committed to lend any material additional funds to the borrowers whose loans were modified due to financial difficulties.Purchased Credit Deteriorated LoansOld National has purchased loans, for which there was,