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Other Borrowings (Tables)
 3 Months Ended
Mar. 31, 2025
Other Liabilities Disclosure [Abstract]  
Summary of Other Borrowings
The following table summarizes Old National’s other borrowings:
(dollars in thousands)March 31,
2025		December 31,
2024
Old National Bancorp:  
Subordinated debentures (fixed rate 5.88%) maturing September 2026
$150,000 $150,000 
Subordinated debentures (fixed rate 5.25%) maturing June 2030
30,000 30,000 
Junior subordinated debentures (rates of 5.96% to 8.13%) maturing
   July 2031 to September 2037
136,643 136,643 
Other basis adjustments11,759 13,049 
Old National Bank:
Finance lease liabilities23,440 24,822 
Subordinated debentures (3-month Secured Overnight Financing
   Rate (“SOFR”) plus 4.618%; variable rate 8.90%) maturing October 2025
12,000 12,000 
Leveraged loans for NMTC (fixed rates of 1.00% to 2.82%)
   maturing December 2046 to June 2060
210,251 210,251 
Other (1)
68,181 112,853 
Total other borrowings$642,274 $689,618 
(1)Includes overnight borrowings to collateralize certain derivative positions totaling $68.1 million at March 31, 2025 and $112.8 million at December 31, 2024.
The following table summarizes the terms of our outstanding junior subordinated debentures at March 31, 2025:
(dollars in thousands)   
Rate at
March 31,
2025
 
Name of TrustIssuance DateIssuance
Amount		RateMaturity Date
Bridgeview Statutory Trust IJuly 2001$15,464 
3-month SOFR plus 3.58%
8.13%July 31, 2031
Bridgeview Capital Trust IIDecember 200215,464 
3-month SOFR plus 3.35%
7.91%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%
6.31%March 17, 2035
Northern States Statutory Trust ISeptember 200510,310 
3-month SOFR plus 1.80%
6.36%September 15, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month SOFR plus 1.55%
6.11%September 30, 2035
Great Lakes Statutory Trust IIDecember 20056,186 
3-month SOFR plus 1.40%
5.96%December 15, 2035
Home Federal Statutory
   Trust I		September 200615,464 
3-month SOFR plus 1.65%
6.21%September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,093 
3-month SOFR plus 1.60%
6.16%October 7, 2036
Tower Capital Trust 3December 20069,279 
3-month SOFR plus 1.69%
6.27%March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,155 
3-month SOFR plus 1.60%
6.16%June 15, 2037
Great Lakes Statutory Trust IIIJune 20078,248 
3-month SOFR plus 1.70%
6.26%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)March 31,
2025		December 31,
2024
Unfunded loan commitments (1)
$8,740,965 $8,533,433 
Standby letters of credit (2)
184,165 194,323 
(1)Excludes cancellable loan commitments of $2.5 billion at March 31, 2025 and $2.5 billion at December 31, 2024.
(2)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.8 million at March 31, 2025 and $1.7 million at December 31, 2024.
Summary of Contractual Maturities of Other Borrowings
Contractual maturities of other borrowings at March 31, 2025 were as follows:
(dollars in thousands) 
Due in 2025$86,344 
Due in 2026151,976 
Due in 20272,087 
Due in 20281,846 
Due in 20291,059 
Thereafter387,151 
Unamortized debt issuance costs and other basis adjustments11,811 
Total$642,274