XML 44 R34.htm IDEA: XBRL DOCUMENT
v3.23.3

Qualified Affordable Housing Projects and Other Tax Credit Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Investments in Affordable Housing Projects [Abstract] |
Schedule of Qualified Affordable Housing Projects and Other Tax Credit Investments | The following table summarizes Old National’s investments in qualified affordable housing projects and other tax credit investments:
(dollars in thousands) |  | September 30, 2023 |  | December 31, 2022
Investment | Accounting Method | Investment |  | Unfunded Commitment (1) |  | Investment |  | Unfunded Commitment
LIHTC | Proportional amortization | $ | 93,214 |  |  | $ | 54,440 |  |  | $ | 84,428 |  |  | $ | 55,754 |
FHTC | Equity | 36,715 |  |  | 27,214 |  |  | 19,316 |  |  | 9,588 |
NMTC | Consolidation | 45,637 |  |  | — |  |  | 51,912 |  |  | — |
Renewable Energy | Equity | 385 |  |  | — |  |  | 1,099 |  |  | — |
Total |  | $ | 175,951 |  |  | $ | 81,654 |  |  | $ | 156,755 |  |  | $ | 65,342 |
(1)All commitments will be paid by Old National by December 31, 2027. The following table summarizes the amortization expense and tax benefit recognized for Old National’s qualified affordable housing projects and other tax credit investments:
(dollars in thousands) | Amortization Expense (1) |  | Tax Expense (Benefit) Recognized (2)
Three Months Ended September 30, 2023 |  |  |
LIHTC | $ | 3,208 |  |  | $ | (3,582) |
FHTC | 330 |  |  | (399) |
NMTC | 2,092 |  |  | (2,611) |
Renewable Energy | 222 |  |  | — |
Total | $ | 5,852 |  |  | $ | (6,592) |
Three Months Ended September 30, 2022 |  |  |
LIHTC | $ | 1,240 |  |  | $ | (1,650) |
FHTC | 215 |  |  | (262) |
NMTC | 2,237 |  |  | (2,788) |
Renewable Energy | 210 |  |  | — |
Total | $ | 3,902 |  |  | $ | (4,700) |
Nine Months Ended September 30, 2023 |  |  |
LIHTC | $ | 6,135 |  |  | $ | (7,398) |
FHTC | 1,178 |  |  | (1,423) |
NMTC | 6,275 |  |  | (7,833) |
Renewable Energy | 714 |  |  | — |
Total | $ | 14,302 |  |  | $ | (16,654) |
Nine Months Ended September 30, 2022 |  |  |
LIHTC | $ | 3,734 |  |  | $ | (4,950) |
FHTC | 635 |  |  | (776) |
NMTC | 4,439 |  |  | (5,538) |
Renewable Energy | 629 |  |  | — |
Total | $ | 9,437 |  |  | $ | (11,264) |
(1)The amortization expense for the LIHTC investments is included in our income tax expense. The amortization expense for the FHTC, NMTC, and Renewable Energy tax credits is included in noninterest expense. (2)All of the tax benefits recognized are included in our income tax expense. The tax benefit recognized for the FHTC, NMTC, and Renewable Energy investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).

X
- Definition Tabular disclosure of data and information required in the supplementary schedule applicable to management investment companies listing holdings of unaffiliated investments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-1 + Details
Name: | us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsInAffordableHousingProjectsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration