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Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
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)
June 30, 2025
Commercial (1)
$14,662,916 $(218,095)$14,444,821 
Commercial real estate21,879,785 (175,181)21,704,604 
BBCCN/A393,276 393,276 
Residential real estate8,212,242 — 8,212,242 
Consumer3,147,876 (3,147,876)N/A
IndirectN/A1,073,024 1,073,024 
DirectN/A586,841 586,841 
Home equityN/A1,488,011 1,488,011 
Total loans (2)
$47,902,819 $— $47,902,819 
Allowance for credit losses on loans(565,109)— (565,109)
Net loans$47,337,710 $— $47,337,710 
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 
(1)Includes direct finance leases of $96.3 million at June 30, 2025 and $120.6 million at December 31, 2024.
(2)    Includes unamortized premiums and discounts, and unamortized deferred fees and costs of $634.4 million at June 30, 2025 and $163.3 million at December 31, 2024.
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
for Loan
Losses		Balance at
End of
Period
Three Months Ended June 30, 2025  
Commercial$157,587 $30,492 $(16,805)$973 $43,670 $215,917 
Commercial real estate198,110 59,611 (9,438)123 45,897 294,303 
BBCC2,695 — (53)99 (253)2,488 
Residential real estate24,214 148 (247)150 7,585 31,850 
Indirect9,063 6 (1,766)905 222 8,430 
Direct2,053 47 (1,480)701 1,243 2,564 
Home equity8,210 138 (165)475 899 9,557 
Total$401,932 $90,442 $(29,954)$3,426 $99,263 $565,109 
Three Months Ended June 30, 2024
Commercial$123,437 $14,593 $(9,927)$462 $9,895 $138,460 
Commercial real estate160,640 8,483 (3,101)542 23,347 189,911 
BBCC3,163 — (935)230 439 2,897 
Residential real estate21,899 134 — 762 340 23,135 
Indirect1,218 — (1,084)335 764 1,233 
Direct2,952 59 (1,884)565 1,439 3,131 
Home equity6,404 653 (110)100 521 7,568 
Total$319,713 $23,922 $(17,041)$2,996 $36,745 $366,335 
Six Months Ended June 30, 2025
Commercial$148,722 $30,492 $(26,116)$2,253 $60,566 $215,917 
Commercial real estate200,309 59,611 (21,098)393 55,088 294,303 
BBCC2,813 — (57)399 (667)2,488 
Residential real estate22,922 148 (277)238 8,819 31,850 
Indirect8,434 6 (3,700)1,344 2,346 8,430 
Direct2,304 47 (3,081)1,213 2,081 2,564 
Home equity7,018 138 (165)510 2,056 9,557 
Total$392,522 $90,442 $(54,494)$6,350 $130,289 $565,109 
Six Months Ended June 30, 2024
Commercial$118,333 $14,593 $(13,586)$796 $18,324 $138,460 
Commercial real estate155,099 8,483 (9,742)1,577 34,494 189,911 
BBCC2,887 — (1,011)248 773 2,897 
Residential real estate20,837 134 — 781 1,383 23,135 
Indirect1,236 — (2,222)667 1,552 1,233 
Direct3,169 59 (4,312)1,052 3,163 3,131 
Home equity6,049 653 (188)145 909 7,568 
Total$307,610 $23,922 $(31,061)$5,266 $60,598 $366,335 
Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Allowance for credit losses on unfunded loan commitments: 
Balance at beginning of period$22,031 $26,264 $21,654 $31,226 
Provision for credit losses on unfunded loan commitments
   acquired during the period		6,458 1,763 6,458 1,763 
Provision (release) for credit losses on unfunded loan
   commitments		1,114 (2,294)1,491 (7,256)
Balance at end of period$29,603 $25,733 $29,603 $25,733 
Schedule of Risk Category of Loans and Amortized Cost
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:
(dollars in thousands)Origination YearRevolving to Term
20252024202320222021PriorRevolvingTotal
June 30, 2025
Commercial:
Pass$1,305,740 $2,173,224 $1,400,313 $1,254,431 $833,070 $1,746,219 $3,796,721 $641,312 $13,151,030 
Special Mention4,117 54,285 101,152 39,978 9,368 40,046 145,198 26,793 420,937 
Classified:
Substandard7,268 33,353 111,274 86,661 71,764 111,648 188,832 53,383 664,183 
Nonaccrual7 1,829 9,674 21,521 3,220 9,571 4,400 4,368 54,590 
Doubtful408 6,378 19,972 36,567 2,197 10,569 20,370 57,620 154,081 
Total$1,317,540 $2,269,069 $1,642,385 $1,439,158 $919,619 $1,918,053 $4,155,521 $783,476 $14,444,821 
Commercial real estate:
Pass$1,297,803 $2,333,656 $2,993,887 $3,787,067 $2,240,728 $5,790,999 $200,024 $889,312 $19,533,476 
Special Mention4,361 33,943 43,107 200,210 162,745 108,328 2,909 24,213 579,816 
Classified:
Substandard1,153 12,591 126,234 422,703 177,428 441,460 39,748 77,330 1,298,647 
Nonaccrual— 3,020 3,036 39,549 28,337 33,654 — 24,262 131,858 
Doubtful— — 7,806 12,585 18,332 89,564 — 32,520 160,807 
Total$1,303,317 $2,383,210 $3,174,070 $4,462,114 $2,627,570 $6,464,005 $242,681 $1,047,637 $21,704,604 
BBCC:
Pass$25,569 $57,920 $59,656 $40,620 $24,128 $85,692 $63,751 $17,712 $375,048 
Special Mention— 578 500 523 274 2,406 1,522 2,160 7,963 
Classified:
Substandard95 415 1,014 35 68 476 132 4,196 6,431 
Nonaccrual— — 33 68 270 517 — 324 1,212 
Doubtful— — 386 253 149 1,085 — 749 2,622 
Total$25,664 $58,913 $61,589 $41,499 $24,889 $90,176 $65,405 $25,141 $393,276 
Origination YearRevolving to Term
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 
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)20252024202320222021PriorRevolvingTotal
June 30, 2025
Residential real estate:
Risk Rating:
Performing$322,748 $609,589 $659,834 $1,777,593 $2,108,457 $2,672,799 $— $258 $8,151,278 
Nonperforming225 1,988 7,728 14,049 6,244 30,730 — — 60,964 
Total$322,973 $611,577 $667,562 $1,791,642 $2,114,701 $2,703,529 $— $258 $8,212,242 
Indirect:
Risk Rating:
Performing$211,857 $370,286 $221,363 $171,636 $64,620 $28,802 $— $— $1,068,564 
Nonperforming28 630 1,306 1,165 933 398 — — 4,460 
Total$211,885 $370,916 $222,669 $172,801 $65,553 $29,200 $— $— $1,073,024 
Direct:
Risk Rating:
Performing$36,359 $77,720 $60,193 $57,844 $53,698 $140,154 $149,619 $4,876 $580,463 
Nonperforming— 363 762 535 414 3,713 10 581 6,378 
Total$36,359 $78,083 $60,955 $58,379 $54,112 $143,867 $149,629 $5,457 $586,841 
Home equity:
Risk Rating:
Performing$4,181 $32 $251 $1,112 $579 $17,328 $1,400,491 $46,300 $1,470,274 
Nonperforming40 19 53 959 95 3,988 1,002 11,581 17,737 
Total$4,221 $51 $304 $2,071 $674 $21,316 $1,401,493 $57,881 $1,488,011 
Origination YearRevolving to Term
20242023202220212020PriorRevolvingTotal
December 31, 2024
Residential real estate:
Risk Rating:
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:
Risk Rating:
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:
Risk Rating:
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 $514,144 
Home equity:
Risk Rating:
Performing$— $— $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 $1,281,333 
The following table summarizes the gross charge-offs of loans by loan portfolio segment and origination year:
Origination Year
(dollars in thousands)20252024202320222021PriorRevolvingTotal
Three Months Ended June 30, 2025
Commercial$— $6,459 $676 $6,970 $583 $2,117 $— $16,805 
Commercial real estate— — — 1,205 4,000 4,233 — 9,438 
BBCC— — 13 31 9 — — 53 
Residential real estate— — — — — 247 — 247 
Indirect12 631 557 317 193 56 — 1,766 
Direct171 205 223 300 304 251 26 1,480 
Home equity— — — — — 165 — 165 
Total gross charge-offs$183 $7,295 $1,469 $8,823 $5,089 $7,069 $26 $29,954 
Origination Year
20242023202220212020PriorRevolvingTotal
Three Months Ended June 30, 2024
Commercial$— $2,358 $6,149 $389 $43 $566 $422 $9,927 
Commercial real estate— — 23 468 — 2,610 — 3,101 
BBCC— 605 153 35 112 30 — 935 
Residential real estate— — — — — — — — 
Indirect54 531 377 96 6 20 — 1,084 
Direct75 79 394 347 173 172 644 1,884 
Home equity— — — — — 110 — 110 
Total gross charge-offs$129 $3,573 $7,096 $1,335 $334 $3,508 $1,066 $17,041 
Origination Year
20252024202320222021PriorRevolvingTotal
Six Months Ended June 30, 2025
Commercial$— $6,881 $4,795 $11,056 $589 $2,795 $— $26,116 
Commercial real estate— — 303 1,956 11,996 6,843 — 21,098 
BBCC— — 13 31 13 — — 57 
Residential real estate— — — — — 277 — 277 
Indirect12 1,330 1,234 704 293 127 — 3,700 
Direct214 335 333 743 842 588 26 3,081 
Home equity— — — — — 165 — 165 
Total gross charge-offs$226 $8,546 $6,678 $14,490 $13,733 $10,795 $26 $54,494 
Origination Year
20242023202220212020PriorRevolvingTotal
Six Months Ended June 30, 2024
Commercial$— $2,358 $9,630 $422 $51 $570 $555 $13,586 
Commercial real estate— — 23 2,644 — 7,075 — 9,742 
BBCC— 605 229 35 112 30 — 1,011 
Residential real estate— — — — — — — — 
Indirect54 901 849 321 39 58 — 2,222 
Direct75 195 970 876 286 395 1,515 4,312 
Home equity— — — 34 — 154 — 188 
Total gross charge-offs$129 $4,059 $11,701 $4,332 $488 $8,282 $2,070 $31,061 
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
June 30, 2025
Commercial$26,962 $18,401 $62,918 $108,281 $14,336,540 $14,444,821 
Commercial real estate47,550 16,438 113,743 177,731 21,526,873 21,704,604 
BBCC2,173 230 2,393 4,796 388,480 393,276 
Residential33,354 14,188 37,414 84,956 8,127,286 8,212,242 
Indirect7,088 2,166 906 10,160 1,062,864 1,073,024 
Direct1,524 1,346 2,502 5,372 581,469 586,841 
Home equity6,053 4,133 7,167 17,353 1,470,658 1,488,011 
Total$124,704 $56,902 $227,043 $408,649 $47,494,170 $47,902,819 
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 
Schedule of Nonaccrual and Past Due Loans
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:
June 30, 2025December 31, 2024
(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$208,671 $15,375 $3,680 $119,507 $30,551 $861 
Commercial real estate292,665 73,828 12,709 233,856 64,453 3,126 
BBCC3,834 — — 4,672 — — 
Residential60,964 — 225 60,454 — — 
Indirect4,460 — 233 5,372 — — 
Direct6,378 — 46 3,407 — — 
Home equity17,737 — — 20,711 — 73 
Total$594,709 $89,203 $16,893 $447,979 $95,004 $4,060 
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
June 30, 2025
Commercial$22,397 $142,003 $9,707 $6,286 $4,340 
Commercial real estate283,893 4,409 1,464 — 123 
BBCC2,389 694 310 196 — 
Residential60,964 — — — — 
Indirect— — — 4,460 — 
Direct4,761 20 4 319 22 
Home equity17,737 — — — — 
Total loans$392,141 $147,126 $11,485 $11,261 $4,485 
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 loans$333,461 $70,680 $8,135 $12,560 $5,249 
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		Total
Class of
Loans
Three Months Ended June 30, 2025
Commercial$39,797 0.3 %
Commercial real estate44,835 0.2 %
Total$84,632 0.2 %
Three Months Ended June 30, 2024
Commercial$3,859 0.0 %
Commercial real estate58,232 0.4 %
Total$62,091 0.2 %
Six Months Ended June 30, 2025
Commercial$94,248 0.7 %
Commercial real estate146,609 0.7 %
Total$240,857 0.5 %
Six Months Ended June 30, 2024
Commercial$14,867 0.1 %
Commercial real estate73,406 0.5 %
Total$88,273 0.2 %
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
June 30, 2025
Commercial$1,468 $2,449 $4,511 $8,428 $85,820 $94,248 
Commercial real estate6,311 — 4,566 10,877 135,732 146,609 
Total$7,779 $2,449 $9,077 $19,305 $221,552 $240,857 
June 30, 2024
Commercial$1,077 $2,813 $980 $4,870 $14,866 $19,736 
Commercial real estate8,854 5,077 27,017 40,948 72,083 113,031 
Total$9,931 $7,890 $27,997 $45,818 $86,949 $132,767 
The following table summarizes the nature of the financial difficulty modifications by class of loans:
(dollars in thousands)Weighted-
Average
Term
Extension
(in months)
Three Months Ended June 30, 2025
Commercial6.5
Commercial real estate9.8
Total8.2
Three Months Ended June 30, 2024
Commercial10.0
Commercial real estate10.6
Total10.6
Six Months Ended June 30, 2025
Commercial7.1
Commercial real estate8.4
Total7.9
Six Months Ended June 30, 2024
Commercial9.9
Commercial real estate9.2
Total9.3
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 at acquisition was as follows:
(dollars in thousands)
Bremer (1)
CapStar (2)
Purchase price of loans at acquisition$1,889,330 $610,691 
Allowance for credit losses at acquisition90,442 26,725 
Non-credit discount at acquisition75,817 41,886 
Par value of acquired loans at acquisition$2,055,589 $679,302 
(1)Old National acquired Bremer effective May 1, 2025.
(2)Old National acquired CapStar effective April 1, 2024.