XML 46 R32.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Parent Company Financial Statements | 12 Months Ended
--- | ---
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Financial Statements | PARENT COMPANY FINANCIAL STATEMENTS The following are the condensed parent company only financial statements of Old National:
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS |  |  |
| December 31,
(dollars in thousands) | 2023 |  | 2022
Assets |  |  |
Deposits in affiliate bank | $ | 284,294 |  |  | $ | 418,959 |
Equity securities | 51,241 |  |  | 30,717 |
Investment securities - available-for-sale | 15,886 |  |  | 16,814 |
Investment in affiliates: |  |  |
Banking subsidiaries | 5,530,637 |  |  | 5,000,153 |
Non-banks | 44,395 |  |  | 44,938 |
Goodwill | 59,506 |  |  | 59,506 |
Other assets | 127,540 |  |  | 135,025 |
Total assets | $ | 6,113,499 |  |  | $ | 5,706,112 |
Liabilities and Shareholders’ Equity |  |  |
Other liabilities | $ | 70,840 |  |  | $ | 92,758 |
Other borrowings | 479,759 |  |  | 484,759 |
Shareholders’ equity | 5,562,900 |  |  | 5,128,595 |
Total liabilities and shareholders’ equity | $ | 6,113,499 |  |  | $ | 5,706,112 |
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENTS OF INCOME |  |  |  |  |
| Years Ended December 31,
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Income |  |  |  |  |
Dividends from affiliates | $ | 150,000 |  |  | $ | — |  |  | $ | 125,000 |
Other income | 2,919 |  |  | 1,733 |  |  | 3,364 |
Other income from affiliates | 5 |  |  | 5 |  |  | 5 |
Total income | 152,924 |  |  | 1,738 |  |  | 128,369 |
Expense |  |  |  |  |
Interest on borrowings | 20,700 |  |  | 16,662 |  |  | 8,285 |
Other expenses | 43,185 |  |  | 37,629 |  |  | 13,951 |
Total expense | 63,885 |  |  | 54,291 |  |  | 22,236 |
Income (loss) before income taxes and equity in undistributed earnings of affiliates | 89,039 |  |  | (52,553) |  |  | 106,133 |
Income tax expense (benefit) | (11,325) |  |  | (9,901) |  |  | (5,113) |
Income (loss) before equity in undistributed earnings of affiliates | 100,364 |  |  | (42,652) |  |  | 111,246 |
Equity in undistributed earnings of affiliates | 481,628 |  |  | 470,939 |  |  | 166,292 |
Net income | 581,992 |  |  | 428,287 |  |  | 277,538 |
Preferred dividends | (16,135) |  |  | (14,118) |  |  | — |
Net income applicable to common shareholders | $ | 565,857 |  |  | $ | 414,169 |  |  | $ | 277,538 |
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENT OF CASH FLOWS |  |  |  |  |
| Years Ended December 31,
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Cash Flows From Operating Activities |  |  |  |  |
Net income | $ | 581,992 |  |  | $ | 428,287 |  |  | $ | 277,538 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |
Depreciation | 18 |  |  | 26 |  |  | 30 |
Share-based compensation expense | 27,910 |  |  | 28,656 |  |  | 7,497 |
(Increase) decrease in other assets | (19,353) |  |  | (40,620) |  |  | 10,213 |
Increase (decrease) in other liabilities | (2,561) |  |  | 10,455 |  |  | (4,918) |
Equity in undistributed earnings of affiliates | (481,628) |  |  | (470,939) |  |  | (166,292) |
Net cash flows provided by (used in) operating activities | 106,378 |  |  | (44,135) |  |  | 124,068 |
Cash Flows From Investing Activities |  |  |  |  |
Net cash and cash equivalents of acquisitions | — |  |  | 573,099 |  |  | — |
Proceeds from sales of investment securities | — |  |  | — |  |  | 1,000 |
Proceeds from sales of equity securities | — |  |  | 44,038 |  |  | 540 |
Purchase of equity securities | (17,773) |  |  | — |  |  | — |
Purchases of investment securities | — |  |  | (9,000) |  |  | (15) |
Purchases of premises and equipment | (8) |  |  | — |  |  | (3) |
Net cash flows provided by (used in) investing activities | (17,781) |  |  | 608,137 |  |  | 1,522 |
Cash Flows From Financing Activities |  |  |  |  |
Cash dividends paid | (180,030) |  |  | (177,623) |  |  | (92,829) |
Common stock repurchased | (44,308) |  |  | (71,182) |  |  | (3,731) |
Common stock issued | 1,076 |  |  | 809 |  |  | 583 |
Net cash flows provided by (used in) financing activities | (223,262) |  |  | (247,996) |  |  | (95,977) |
Net increase (decrease) in cash and cash equivalents | (134,665) |  |  | 316,006 |  |  | 29,613 |
Cash and cash equivalents at beginning of period | 418,959 |  |  | 102,953 |  |  | 73,340 |
Cash and cash equivalents at end of period | $ | 284,294 |  |  | $ | 418,959 |  |  | $ | 102,953 |

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

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration