XML 51 R41.htm IDEA: XBRL DOCUMENT v3.23.3
Commitments, Contingencies, and Financial Guarantees (Tables)
 9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Summary of Loan Commitments
The following table summarizes Old National’s other borrowings:
(dollars in thousands)September 30,
2023		December 31,
2022
Old National Bancorp:  
Senior unsecured notes (fixed rate 4.125%) maturing August 2024
$175,000 $175,000 
Unamortized debt issuance costs related to senior unsecured notes(130)(247)
Subordinated debentures (fixed rate 5.875%) maturing September 2026
150,000 150,000 
Junior subordinated debentures (rates of 6.95% to 9.21%) maturing
   July 2031 to September 2037
136,643 136,643 
Other basis adjustments19,496 23,363 
Old National Bank:
Finance lease liabilities21,595 13,469 
Subordinated debentures (variable rate 9.99%) maturing October 2025
12,000 12,000 
Leveraged loans for NMTC (fixed rates of 1.00% to 1.43%)
   maturing December 2046 to June 2060
143,745 143,187 
Other (1)
205,106 89,588 
Total other borrowings$863,455 $743,003 
(1)Includes overnight borrowings to collateralize certain derivative positions totaling $204.5 million at September 30, 2023 and $88.0 million at December 31, 2022.
The following table summarizes the terms of our outstanding junior subordinated debentures at September 30, 2023:
(dollars in thousands)   
Rate at
September 30,
2023
 
Name of TrustIssuance DateIssuance
Amount		RateMaturity Date
Bridgeview Statutory Trust IJuly 2001$15,464 
3-month SOFR plus 3.58%
9.21%July 31, 2031
Bridgeview Capital Trust IIDecember 200215,464 
3-month SOFR plus 3.35%
8.92%January 7, 2033
First Midwest Capital Trust INovember 200337,825 
6.95% fixed
6.95%December 1, 2033
St. Joseph Capital Trust IIMarch 20055,155 
3-month SOFR plus 1.75%
7.42%March 17, 2035
Northern States Statutory Trust ISeptember 200510,310 
3-month SOFR plus 1.80%
7.47%September 15, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month SOFR plus 1.55%
7.21%September 30, 2035
Great Lakes Statutory Trust IIDecember 20056,186 
3-month SOFR plus 1.40%
7.07%December 15, 2035
Home Federal Statutory
   Trust I		September 200615,464 
3-month SOFR plus 1.65%
7.32%September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,093 
3-month SOFR plus 1.60%
7.17%October 7, 2036
Tower Capital Trust 3December 20069,279 
3-month SOFR plus 1.69%
7.36%March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,155 
3-month SOFR plus 1.60%
7.27%June 15, 2037
Great Lakes Statutory Trust IIIJune 20078,248 
3-month SOFR plus 1.70%
7.37%September 15, 2037
Total$136,643 
The following table summarizes Old National Bank’s unfunded loan commitments and standby letters of credit:
(dollars in thousands)September 30,
2023		December 31,
2022
Unfunded loan commitments$9,142,538 $8,979,334 
Standby letters of credit (1)
184,027 174,070 
(1)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.2 million at September 30, 2023 and $0.8 million at December 31, 2022.