Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 177

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 177
---
202.5 million. At December 31, 2024, the notional amounts of the interest rate lock commitments were $57.4 million and forward commitments were $88.8 million. It is our practice to enter into forward mortgage loan contracts for the future delivery of residential mortgage loans to third-party investors when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from our commitment to fund the loans.Old National also enters into derivative instruments for the benefit of its clients. The notional amounts of these customer derivative instruments and the offsetting counterparty derivative instruments were $9.7 billion at September 30, 2025 and $6.3 billion at December 31, 2024. These derivative contracts do not qualify for hedge accounting. These instruments include interest rate swaps and collars. Commonly, Old National will economically hedge significant exposures related to these derivative contracts entered into for the benefit of clients by entering into offsetting contracts with approved, reputable, independent counterparties with substantially matching terms.Old National enters into derivative financial instruments as part of its foreign currency risk management strategies. These derivative instruments consist of foreign currency forward contracts to accommodate the business needs of its clients. Old National does not designate these foreign currency forward contracts for hedge accounting treatment.

44

The following table summarizes Old National’s derivatives not designated as hedges:September 30, 2025December 31, 2024Fair ValueFair Value(dollars in thousands)NotionalAssets (1)Liabilities (2)NotionalAssets (1)Liabilities (2)Interest rate lock commitments$126,070 $522 $— $57,380 $— $166 Forward mortgage loan contracts202,529 — 82 88,808 807 — Customer interest rate swaps9,706,441 83,696 191,202 6,255,123 12,827 219,926 Counterparty interest rate swaps (3)9,706,441 78,452 84,168 6,255,123 128,469 12,902 Customer foreign currency contracts7,919 230 33 10,265 28 121 Counterparty foreign currency contracts7,688 39 169 10,093 192 2 Total$162,939 $275,654 $142,323 $233,117 (1)