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Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Composition of Loans and Impact of Adoption The portfolio segment reclassifications follow:
Balance Sheet
Line Item		Portfolio
Segment
Reclassifications		Portfolio
Segment After
Reclassifications
(dollars in thousands)
December 31, 2024
Commercial (1)
$10,288,560 $(232,301)$10,056,259 
Commercial real estate16,307,486 (174,438)16,133,048 
BBCCN/A406,739 406,739 
Residential real estate6,797,586 — 6,797,586 
Consumer2,892,255 (2,892,255)N/A
IndirectN/A1,096,778 1,096,778 
DirectN/A514,144 514,144 
Home equityN/A1,281,333 1,281,333 
Total loans (2)
36,285,887 — 36,285,887 
Allowance for credit losses on loans(392,522)— (392,522)
Net loans$35,893,365 $— $35,893,365 
December 31, 2023
Commercial (1)
$9,512,230 $(232,764)$9,279,466 
Commercial real estate14,140,629 (169,058)13,971,571 
BBCCN/A401,822 401,822 
Residential real estate6,699,443 — 6,699,443 
Consumer2,639,625 (2,639,625)N/A
IndirectN/A1,050,982 1,050,982 
DirectN/A523,172 523,172 
Home equityN/A1,065,471 1,065,471 
Total loans (2)
32,991,927 — 32,991,927 
Allowance for credit losses on loans(307,610)— (307,610)
Net loans$32,684,317 $— $32,684,317 
(1)    Includes direct finance leases of $120.6 million at December 31, 2024 and $169.7 million at December 31, 2023.
(2)    Includes unearned income of $163.3 million at December 31, 2024 and $93.7 million at December 31, 2023.
Schedule of Activity in Allowance for Loan Losses Old National’s activity in the allowance for credit losses on loans by portfolio segment was as follows:
(dollars in thousands)Balance at
Beginning of
Period		Allowance
Established
for Acquired
PCD Loans		Charge-offsRecoveriesProvision
(Release)
for Loan
Losses		Balance at
End of
Period
Year Ended
December 31, 2024
Commercial$118,333 $17,838 $(36,172)$1,623 $47,100 $148,722 
Commercial real estate155,099 8,041 (18,565)2,713 53,021 200,309 
BBCC2,887 — (1,801)325 1,402 2,813 
Residential real estate20,837 134 (14)883 1,082 22,922 
Indirect1,236 — (5,610)1,274 11,534 8,434 
Direct3,169 59 (8,672)2,152 5,596 2,304 
Home equity6,049 653 (470)330 456 7,018 
Total$307,610 $26,725 $(71,304)$9,300 $120,191 $392,522 
Year Ended
December 31, 2023
Commercial$120,612 $— $(41,451)$4,172 $35,000 $118,333 
Commercial real estate138,244 — (11,198)2,417 25,636 155,099 
BBCC2,431 — (1,650)275 1,831 2,887 
Residential real estate21,916 — (256)1,268 (2,091)20,837 
Indirect1,532 — (2,948)1,559 1,093 1,236 
Direct12,116 — (10,517)2,331 (761)3,169 
Home equity6,820 — (443)531 (859)6,049 
Total$303,671 $— $(68,463)$12,553 $59,849 $307,610 
Year Ended
December 31, 2022
Commercial$27,232 $38,780 $(6,885)$4,610 $56,875 $120,612 
Commercial real estate64,004 49,419 (6,519)1,095 30,245 138,244 
BBCC2,458 — (85)281 (223)2,431 
Residential real estate9,347 136 (344)760 12,017 21,916 
Indirect1,743 — (2,525)1,263 1,051 1,532 
Direct528 31 (10,799)2,557 19,799 12,116 
Home equity2,029 723 (124)616 3,576 6,820 
Total$107,341 $89,089 $(27,281)$11,182 $123,340 $303,671 
Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:
Years Ended December 31,
(dollars in thousands)202420232022
Balance at beginning of period$31,226 $32,188 $10,879 
Provision for credit losses on unfunded loan commitments
   acquired during the period		1,763 — 11,013 
Provision (release) for credit losses on unfunded loan
   commitments		(11,335)(962)10,296 
Balance at end of period$21,654 $31,226 $32,188 
Schedule of Risk Category of Commercial and Commercial Real Estate Loans
The following table summarizes the amortized cost of term loans by risk category of commercial, commercial real estate, and BBCC loans by loan portfolio segment, class of loan, and origination year:
Origination YearRevolving to Term
(dollars in
thousands)		20242023202220212020PriorRevolvingTotal
December 31, 2024
Commercial:
Pass$1,852,046 $1,267,721 $1,145,488 $699,429 $450,332 $624,522 $2,577,941 $593,232 $9,210,711 
Special Mention46,935 102,372 32,250 40,221 21,538 20,535 80,625 28,978 373,454 
Classified:
Substandard27,139 49,340 77,835 35,036 19,307 25,503 78,210 40,217 352,587 
Nonaccrual2,221 1,072 4,199 1,530 604 1,357 719 829 12,531 
Doubtful3,419 20,145 27,016 1,774 5,451 1,494 15,405 32,272 106,976 
Total$1,931,760 $1,440,650 $1,286,788 $777,990 $497,232 $673,411 $2,752,900 $695,528 $10,056,259 
Commercial real estate:
Pass$2,196,306 $2,555,236 $3,825,305 $2,065,037 $1,362,703 $1,641,611 $122,708 $891,682 $14,660,588 
Special Mention72,020 31,203 158,254 48,524 37,693 64,357 — 111,900 523,951 
Classified:
Substandard47,079 55,923 249,269 102,913 39,466 142,110 996 76,897 714,653 
Nonaccrual3,693 411 3,579 15,922 1,930 3,231 — 118 28,884 
Doubtful7,787 9,689 16,501 37,455 22,817 59,879 — 50,844 204,972 
Total$2,326,885 $2,652,462 $4,252,908 $2,269,851 $1,464,609 $1,911,188 $123,704 $1,131,441 $16,133,048 
BBCC:
Pass$79,760 $78,420 $55,687 $33,857 $30,215 $22,797 $67,668 $16,265 $384,669 
Special Mention1,579 1,067 807 917 21 224 3,582 3,028 11,225 
Classified:
Substandard468 976 56 136 598 308 755 2,876 6,173 
Nonaccrual— 114 312 177 63 119 — 551 1,336 
Doubtful— 397 841 350 15 845 — 888 3,336 
Total$81,807 $80,974 $57,703 $35,437 $30,912 $24,293 $72,005 $23,608 $406,739 
Origination YearRevolving to Term
(dollars in thousands)20232022202120202019PriorRevolvingTotal
December 31, 2023
Commercial:
Pass$1,826,289 $1,573,669 $985,964 $520,883 $450,911 $495,979 $2,051,985 $651,953 $8,557,633 
Special Mention20,038 90,031 19,953 36,906 25,756 47,357 89,765 44,348 374,154 
Classified:
Substandard27,271 41,164 27,990 37,618 10,461 29,981 72,703 56,716 303,904 
Nonaccrual32 7,034 — — 823 3,411 — 5,461 16,761 
Doubtful— 7,261 5,925 4,875 1,742 7,211 — — 27,014 
Total$1,873,630 $1,719,159 $1,039,832 $600,282 $489,693 $583,939 $2,214,453 $758,478 $9,279,466 
Commercial real estate:
Pass$2,177,841 $3,515,702 $2,563,638 $1,576,044 $1,010,351 $1,161,119 $103,332 $960,386 $13,068,413 
Special Mention69,648 69,946 68,708 27,059 52,107 95,896 3,893 64,730 451,987 
Classified:
Substandard26,638 56,423 21,401 28,983 61,186 49,558 — 48,760 292,949 
Nonaccrual— 21,919 10,706 1,975 1,634 8,632 — 1,400 46,266 
Doubtful5,360 429 30,897 2,306 37,777 35,187 — — 111,956 
Total$2,279,487 $3,664,419 $2,695,350 $1,636,367 $1,163,055 $1,350,392 $107,225 $1,075,276 $13,971,571 
BBCC:
Pass$81,102 $64,583 $44,307 $38,086 $27,557 $19,028 $68,807 $33,361 $376,831 
Special Mention— — 857 700 1,001 349 2,144 12,728 17,779 
Classified:
Substandard436 193 252 — — 604 15 1,006 2,506 
Nonaccrual— — 482 — 4 1,105 — 1,402 2,993 
Doubtful302 727 254 286 60 84 — — 1,713 
Total$81,840 $65,503 $46,152 $39,072 $28,622 $21,170 $70,966 $48,497 $401,822 
For residential real estate and consumer loan classes, Old National evaluates credit quality based on the aging status of the loan and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. The following table presents the amortized cost of term residential real estate and consumer loans based on payment activity and origination year:
Origination YearRevolving to Term
(dollars in thousands)20242023202220212020PriorRevolvingTotal
December 31, 2024
Residential real estate:
Performing$509,704 $476,698 $1,455,085 $1,662,195 $1,574,961 $1,058,175 $43 $271 $6,737,132 
Nonperforming480 5,060 11,210 6,298 5,208 32,198 — — 60,454 
Total$510,184 $481,758 $1,466,295 $1,668,493 $1,580,169 $1,090,373 $43 $271 $6,797,586 
Indirect:
Performing$438,835 $279,910 $227,691 $92,223 $37,937 $14,810 $— $— $1,091,406 
Nonperforming714 1,147 1,498 1,378 373 262 — — 5,372 
Total$439,549 $281,057 $229,189 $93,601 $38,310 $15,072 $— $— $1,096,778 
Direct:
Performing$83,773 $72,838 $66,563 $61,317 $34,159 $80,188 $108,572 $3,327 $510,737 
Nonperforming96 313 365 352 468 1,730 1 82 3,407 
Total$83,869 $73,151 $66,928 $61,669 $34,627 $81,918 $108,573 $3,409 $514,144 
Home equity:
Performing$— $— $259 $210 $1,135 $11,005 $1,216,226 $31,787 $1,260,622 
Nonperforming— — 1,278 91 209 4,920 2,594 11,619 20,711 
Total$— $— $1,537 $301 $1,344 $15,925 $1,218,820 $43,406 $1,281,333 
Origination YearRevolving to Term
20232022202120202019PriorRevolvingTotal
December 31, 2023
Residential real estate:
Performing$453,743 $1,508,671 $1,836,078 $1,705,131 $430,783 $722,987 $— $279 $6,657,672 
Nonperforming116 4,563 4,004 3,375 4,078 25,635 — — 41,771 
Total$453,859 $1,513,234 $1,840,082 $1,708,506 $434,861 $748,622 $— $279 $6,699,443 
Indirect:
Performing$393,369 $355,822 $162,735 $82,871 $37,967 $13,815 $— $196 $1,046,775 
Nonperforming372 1,472 1,207 547 318 291 — — 4,207 
Total$393,741 $357,294 $163,942 $83,418 $38,285 $14,106 $— $196 $1,050,982 
Direct:
Performing$109,372 $90,310 $92,491 $48,387 $29,659 $67,129 $75,080 $4,852 $517,280 
Nonperforming67 531 517 560 210 3,872 124 11 5,892 
Total$109,439 $90,841 $93,008 $48,947 $29,869 $71,001 $75,204 $4,863 $523,172 
Home equity:
Performing$290 $164 $160 $140 $679 $4,483 $1,019,389 $23,918 $1,049,223 
Nonperforming— 310 328 404 741 4,327 2,844 7,294 16,248 
Total$290 $474 $488 $544 $1,420 $8,810 $1,022,233 $31,212 $1,065,471 
The following table summarizes the gross charge-offs of loans by loan portfolio segment and origination year:
Origination Year
(dollars in thousands)20242023202220212020PriorRevolvingTotal
Year Ended December 31, 2024
Commercial$2,892 $13,447 $11,797 $2,074 $4,061 $923 $978 $36,172 
Commercial real estate70 204 84 6,570 2 11,635 — 18,565 
BBCC— 1,184 410 56 112 39 — 1,801 
Residential real estate— — — — — 14 — 14 
Indirect426 2,426 1,660 687 127 284 — 5,610 
Direct279 610 1,906 1,763 750 1,074 2,290 8,672 
Home equity— — — 34 — 436 — 470 
Total gross charge-offs$3,667 $17,871 $15,857 $11,184 $5,052 $14,405 $3,268 $71,304 
Origination Year
20232022202120202019PriorRevolvingTotal
Year Ended December 31, 2023
Commercial$— $6,475 $24,022 $120 $7,245 $2,880 $709 $41,451 
Commercial real estate— 54 2,808 2,144 — 6,192 — 11,198 
BBCC670 548 362 70 — — — 1,650 
Residential real estate— — — — — 256 — 256 
Indirect271 1,447 787 159 152 132 — 2,948 
Direct173 1,899 2,367 746 1,207 543 3,582 10,517 
Home equity— — — 35 — 408 — 443 
Total gross charge-offs$1,114 $10,423 $30,346 $3,274 $8,604 $10,411 $4,291 $68,463 
Schedule of Past Due Financing Receivables
The following table presents the aging of the amortized cost basis in past due loans by class of loans:
(dollars in thousands)30-59 Days
Past Due		60-89 Days
Past Due		Past Due
90 Days or
More		Total
Past Due		CurrentTotal
Loans
December 31, 2024
Commercial$5,970 $12,021 $47,257 $65,248 $9,991,011 $10,056,259 
Commercial real estate19,240 12,728 60,145 92,113 16,040,935 16,133,048 
BBCC1,227 861 1,430 3,518 403,221 406,739 
Residential49,331 12,085 26,698 88,114 6,709,472 6,797,586 
Indirect9,700 2,675 1,463 13,838 1,082,940 1,096,778 
Direct2,004 970 1,470 4,444 509,700 514,144 
Home equity4,765 3,399 7,567 15,731 1,265,602 1,281,333 
Total$92,237 $44,739 $146,030 $283,006 $36,002,881 $36,285,887 
December 31, 2023
Commercial$16,128 $1,332 $4,861 $22,321 $9,257,145 $9,279,466 
Commercial real estate9,081 5,254 30,660 44,995 13,926,576 13,971,571 
BBCC1,368 134 977 2,479 399,343 401,822 
Residential12,358 367 15,249 27,974 6,671,469 6,699,443 
Indirect7,025 1,854 1,342 10,221 1,040,761 1,050,982 
Direct5,436 1,455 1,787 8,678 514,494 523,172 
Home equity7,791 2,347 6,659 16,797 1,048,674 1,065,471 
Total$59,187 $12,743 $61,535 $133,465 $32,858,462 $32,991,927 
Schedule of Financing Receivable, Nonaccrual
The following table presents the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more and still accruing by class of loan:
December 31, 2024December 31, 2023
(dollars in thousands)Nonaccrual
Amortized
Cost		Nonaccrual
With No
Related
Allowance		Past Due
90 Days or
More and
Accruing		Nonaccrual
Amortized
Cost		Nonaccrual
With No
Related
Allowance		Past Due
90 Days or
More and
Accruing
Commercial$119,507 $30,551 $861 $43,775 $13,143 $242 
Commercial real estate233,856 64,453 3,126 158,222 24,507 585 
BBCC4,672 — — 4,706 — 95 
Residential60,454 — — 41,771 — — 
Indirect5,372 — — 4,207 — 8 
Direct3,407 — — 5,892 — 31 
Home equity20,711 — 73 16,248 — — 
Total$447,979 $95,004 $4,060 $274,821 $37,650 $961 
The following table presents the amortized cost basis of collateral dependent loans by class of loan:
Type of Collateral
(dollars in thousands)Real
Estate		Blanket
Lien		Investment
Securities/Cash		AutoOther
December 31, 2024
Commercial$17,520 $68,985 $6,980 $6,544 $5,215 
Commercial real estate228,952 542 1,046 — — 
BBCC3,201 1,137 86 248 — 
Residential60,454 — — — — 
Indirect— — — 5,372 — 
Direct2,623 16 23 396 34 
Home equity20,711 — — — — 
Total$333,461 $70,680 $8,135 $12,560 $5,249 
December 31, 2023
Commercial$14,303 $24,729 $2,577 $280 $328 
Commercial real estate146,425 — 1,167 — 6,107 
BBCC3,522 794 — 390 — 
Residential41,771 — — — — 
Indirect— — — 4,207 — 
Direct4,727 1 3 366 29 
Home equity16,248 — — — — 
Total$226,996 $25,524 $3,747 $5,243 $6,464 
Schedule of Activity in Trouble Debt Restructurings
The following table presents the amortized cost basis of financial difficulty modifications that were modified by class of loans and type of modification:
(dollars in thousands)Term
Extension		Payment
Delay		Total
Class of
Loans
Year Ended December 31, 2024
Commercial$43,330 $4,637 0.4 %
Commercial real estate151,983 2,666 0.9 %
Total$195,313 $7,303 0.5 %
Year Ended December 31, 2023
Commercial$21,631 $— 0.2 %
Commercial real estate121,529 — 0.9 %
Total$143,160 $— 0.4 %
Old National monitors the performance of financial difficulty modifications to understand the effectiveness of its efforts. The following table presents the performance of financial difficulty modifications in the twelve months following modification:
(dollars in thousands)30-59 Days
Past Due		60-89 Days
Past Due		Past Due
90 Days or
More		Total
Past Due		CurrentTotal
Loans
December 31, 2024
Commercial$— $1,352 $3,900 $5,252 $42,715 $47,967 
Commercial real estate3,804 1,741 4,920 10,465 144,184 154,649 
Total$3,804 $3,093 $8,820 $15,717 $186,899 $202,616 
December 31, 2023
Commercial$— $— $— $— $21,631 $21,631 
Commercial real estate$5,287 $— $— $5,287 $116,242 $121,529 
Total$5,287 $— $— $5,287 $137,873 $143,160 
The following table summarizes the nature of the financial difficulty modifications by class of loans:
Weighted-
Average
Term
Extension
(in months)		Weighted-
Average
Payment
Delay
(in months)
Year Ended December 31, 2024
Commercial7.26.0
Commercial real estate7.27.0
Total7.26.4
Year Ended December 31, 2023
Commercial6.1—
Commercial real estate8.6—
Total8.2—
Schedule of Financing Receivable, Purchased With Credit Deterioration
Old National has purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows:
(dollars in thousands)
CapStar (1)
Purchase price of loans at acquisition$610,691 
Allowance for credit losses at acquisition26,725 
Non-credit discount at acquisition41,886 
Par value of acquired loans at acquisition$679,302 
(1)Old National acquired CapStar effective April 1, 2024.