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v3.22.2.2

Federal Home Loan Bank Advances | 9 Months Ended
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Sep. 30, 2022
Federal Home Loan Banks [Abstract] |
Federal Home Loan Bank Advances | FEDERAL HOME LOAN BANK ADVANCES The following table summarizes Old National Bank’s FHLB advances:
(dollars in thousands) | September 30, 2022 |  | December 31, 2021
FHLB advances (fixed rates 0.00% to 4.96% and variable rates 2.57% to 3.05%) maturing October 2022 to September 2042 | $ | 2,828,308 |  |  | $ | 1,902,655 |
Fair value hedge basis adjustments and unamortized prepayment fees | (23,691) |  |  | (16,636) |
Total | $ | 2,804,617 |  |  | $ | 1,886,019 |
FHLB advances had weighted-average rates of 2.48% at September 30, 2022 and 1.30% at December 31, 2021. Investment securities and residential real estate loans collateralize these borrowings up to 140% of outstanding debt. At September 30, 2022, total unamortized prepayment fees related to debt modifications completed in prior years totaled $21.7 million, compared to $26.2 million at December 31, 2021. Contractual maturities of FHLB advances at September 30, 2022 were as follows:
(dollars in thousands) |
Due in 2022 | $ | 127,500 |
Due in 2023 | 100,280 |
Due in 2024 | 25,243 |
Due in 2025 | 550,285 |
Due in 2026 | 100,000 |
Thereafter | 1,925,000 |
Fair value hedge basis adjustments and unamortized prepayment fees | (23,691) |
Total | $ | 2,804,617 |

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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