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Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2022

Advance from Federal Home Loan Bank [Abstract]

Federal Home Loan Bank Advances

FEDERAL HOME LOAN BANK ADVANCES

The following table summarizes Old National Bank’s FHLB advances:

			December 31,
(dollars in thousands)			2022						2021
FHLB advances (fixed rates 0.00% to 4.96% and    variable rates 3.90% to 4.17%) maturing    January 2023 to September 2042			$	3,850,677					$	1,902,655
Fair value hedge basis adjustments and unamortized    prepayment fees			(21,659)						(16,636)
Total other borrowings			$	3,829,018					$	1,886,019

FHLB advances had weighted-average rates of 3.15% at December 31, 2022 and 1.30% at December 31, 2021.  Certain FHLB advances are collateralized with residential real estate loans at 140%.

At December 31, 2022, total unamortized prepayment fees related to all debt modifications completed in prior years totaled $20.2 million, compared to $26.2 million at December 31, 2021.

Contractual maturities of FHLB advances at December 31, 2022 were as follows:

(dollars in thousands)
Due in 2023			$	950,149
Due in 2024			25,243
Due in 2025			550,285
Due in 2026			100,000
Thereafter			2,225,000
Fair value hedge basis adjustments and unamortized prepayment fees			(21,659)
Total			$	3,829,018

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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

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