Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 114

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 114
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 $9,664,247 $(265,228)(2.7)%Interest-bearing:Checking and NOW8,040,331 7,331,487 708,844 9.7 Savings4,753,279 5,099,186 (345,907)(6.8)Money market11,875,192 9,561,116 2,314,076 24.2 Time deposits6,755,739 5,579,144 1,176,595 21.1 Total deposits40,823,560 37,235,180 3,588,380 9.6 Wholesale borrowings:Federal funds purchased and interbank borrowings385 390 (5)(1.3)Securities sold under agreements to repurchase268,975 285,206 (16,231)(5.7)Federal Home Loan Bank advances4,452,559 4,280,681 171,878 4.0 Other borrowings689,618 764,870 (75,252)(9.8)Total wholesale borrowings5,411,537 5,331,147 80,390 1.5 Total funding$46,235,097 $42,566,327 $3,668,770 8.6 %

The increase in total deposits was primarily due to deposits assumed in the CapStar transaction as well as organic growth. We use wholesale funding to augment deposit funding and to help maintain our desired interest rate risk position. Wholesale funding as a percentage of total funding was 12% at December 31, 2024, compared to 13% at December 31, 2023. See Notes 11, 12, and 13 to the consolidated financial statements for additional details on our financing activities.

At December 31, 2024, time deposits in excess of the FDIC insurance limit and estimated time deposits that are otherwise uninsured by maturity were as follows:

(dollars in thousands)IndividualInstruments inDenominations thatMeet or Exceed theFDIC InsuranceLimitEstimated AggregateTime Deposits thatMeet or Exceed theFDIC InsuranceLimit and OtherwiseUninsured TimeDepositsThree months or less$907,864 $1,364,074 Over three through six months662,635 1,162,705 Over six through 12 months376,690 535,047