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Other Borrowings (Tables)
 6 Months Ended
Jun. 30, 2024
Other Liabilities Disclosure [Abstract]  
Summary of Other Borrowings
The following table summarizes Old National’s other borrowings:
(dollars in thousands)June 30,
2024		December 31,
2023
Old National Bancorp:  
Senior unsecured notes (fixed rate 4.13%) maturing August 2024
$175,000 $175,000 
Unamortized debt issuance costs related to senior unsecured notes(13)(91)
Subordinated debentures (fixed rate 5.88%) maturing September 2026
150,000 150,000 
Subordinated debentures (fixed rate 5.25%) maturing June 2030
30,000 — 
Junior subordinated debentures (rates of 6.95% to 9.17%) maturing
   July 2031 to September 2037
136,643 136,643 
Other basis adjustments15,627 18,207 
Old National Bank:
Finance lease liabilities34,114 20,955 
Subordinated debentures (3-month SOFR plus 4.618%; variable rate 9.95%)
   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
168,228 154,284 
Other (1)
128,178 97,872 
Total other borrowings$849,777 $764,870 
(1)Includes overnight borrowings to collateralize certain derivative positions totaling $128.1 million at June 30, 2024 and $97.6 million at December 31, 2023.
The following table summarizes the terms of our outstanding junior subordinated debentures at June 30, 2024:
(dollars in thousands)   
Rate at
June 30,
2024
 
Name of TrustIssuance DateIssuance
Amount		RateMaturity Date
Bridgeview Statutory Trust IJuly 2001$15,464 
3-month SOFR plus 3.58%
9.17%July 31, 2031
Bridgeview Capital Trust IIDecember 200215,464 
3-month SOFR plus 3.35%
8.94%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%
7.35%March 17, 2035
Northern States Statutory Trust ISeptember 200510,310 
3-month SOFR plus 1.80%
7.40%September 15, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month SOFR plus 1.55%
7.14%September 30, 2035
Great Lakes Statutory Trust IIDecember 20056,186 
3-month SOFR plus 1.40%
7.00%December 15, 2035
Home Federal Statutory
   Trust I		September 200615,464 
3-month SOFR plus 1.65%
7.25%September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,093 
3-month SOFR plus 1.60%
7.19%October 7, 2036
Tower Capital Trust 3December 20069,279 
3-month SOFR plus 1.69%
7.30%March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,155 
3-month SOFR plus 1.60%
7.20%June 15, 2037
Great Lakes Statutory Trust IIIJune 20078,248 
3-month SOFR plus 1.70%
7.30%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)June 30,
2024		December 31,
2023
Unfunded loan commitments$8,789,910 $8,912,587 
Standby letters of credit (1)
184,482 192,237 
(1)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.5 million at June 30, 2024 and $1.3 million at December 31, 2023.
Summary of Contractual Maturities of Other Borrowings
Contractual maturities of other borrowings at June 30, 2024 were as follows:
(dollars in thousands) 
Due in 2024$307,099 
Due in 202519,784 
Due in 2026155,280 
Due in 20273,795 
Due in 20282,518 
Thereafter345,568 
Unamortized debt issuance costs and other basis adjustments15,733 
Total$849,777