Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 131

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 131
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164 161,506 Total$10,219 $— $6,431 $16,650 $207,970 $224,620 March 31, 2024Commercial$— $— $— $— $29,426 $29,426 Commercial real estate4,059 31,222 — 35,281 85,610 120,891 Total$4,059 $31,222 $— $35,281 $115,036 $150,317 The following table summarizes the nature of the financial difficulty modifications by class of loans:(dollars in thousands)Weighted-AverageTermExtension(in months)Three Months Ended March 31, 2025Commercial6.8Commercial real estate9.8Total8.8Three Months Ended March 31, 2024Commercial9.1Commercial real estate8.1Total8.6There were payment defaults on $2.6 million of loans during the three months ended March 31, 2025 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 payment defaults during the three months ended March 31, 2024 on loans that had been modified within the previous twelve months.Old National had not committed to lend any material additional funds to the borrowers whose loans were modified due to financial difficulties at March 31, 2025 or December 31, 2024.Purchased Credit Deteriorated LoansOld National has purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans at acquisition was as follows:(dollars in thousands)CapStar (1)Purchase price of loans at acquisition$610,691 Allowance for credit losses at acquisition26,725 Non-credit discount/(premium) at acquisition41,886 Par value of acquired loans at acquisition$679,302 (1)Old National acquired CapStar effective April 1, 2024.

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NOTE 7 – LEASES

Old National has operating and finance leases for land, office space, banking centers, and equipment. These leases are generally for periods of 5 to 30 years with various renewal options. We include certain renewal options in the measurement of our right-of-use assets and lease liabilities if they are reasonably certain