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Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases LEASES
Old National has operating and finance leases for land, office space, banking centers, and equipment. These leases are generally for periods of 5 to 30 years with various renewal options. We include certain renewal options in the measurement of our right-of-use assets and lease liabilities if they are reasonably certain to be exercised. Variable lease payments that are dependent on an index or a rate are initially measured using the index or rate at the commencement date and are included in the measurement of the lease liability. Variable lease payments that are not dependent on an index or a rate are excluded from the measurement of the lease liability and are recognized in profit and loss when incurred. Variable lease payments are defined as payments made for the right to use an asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time.
Old National has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components and other non-components, such as common area maintenance charges, real estate taxes, and insurance are not included in the measurement of the lease liability since they are generally able to be segregated. For certain equipment leases, Old National accounts for the lease and non-lease components as a single lease component using the practical expedient available for that class of assets. Old National does not have any material sub-lease agreements.
The components of lease expense were as follows:
Affected Line
Item in the
Statement of Income		Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in thousands)2025202420252024
Operating lease costOccupancy/Equipment expense$9,510 $8,258 $26,669 $24,352 
Finance lease cost: 
Amortization of right-of-use assetsOccupancy expense2,297 2,188 6,843 4,427 
Interest on lease liabilitiesInterest expense219 318 660 752 
Sub-lease incomeOccupancy expense(73)(110)(262)(358)
Total $11,953 $10,654 $33,910 $29,173 
Supplemental balance sheet information related to leases was as follows:
(dollars in thousands)September 30,
2025		December 31,
2024
Operating Leases 
Operating lease right-of-use assets$215,262 $181,920 
Operating lease liabilities233,080 200,068 
Finance Leases
Premises and equipment, net23,640 23,205 
Other borrowings25,410 24,822 
Weighted-Average Remaining Lease Term (in Years)
Operating leases8.87.8
Finance leases7.37.8
Weighted-Average Discount Rate
Operating leases3.71 %3.14 %
Finance leases4.04 %3.96 %
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(dollars in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities: 
Operating cash flows from operating leases$27,825 $24,849 
Operating cash flows from finance leases660 752 
Financing cash flows from finance leases6,690 4,061 
The following table presents a maturity analysis of the Company’s lease liability by lease classification at September 30, 2025:
(dollars in thousands)Operating
Leases		Finance
Leases
2025$9,947 $2,459 
202639,482 8,662 
202737,966 2,656 
202834,016 2,339 
202931,409 1,498 
Thereafter123,256 11,980 
Total undiscounted lease payments276,076 29,594 
Amounts representing interest(42,996)(4,184)
Lease liability$233,080 $25,410 
Leases LEASES
Old National has operating and finance leases for land, office space, banking centers, and equipment. These leases are generally for periods of 5 to 30 years with various renewal options. We include certain renewal options in the measurement of our right-of-use assets and lease liabilities if they are reasonably certain to be exercised. Variable lease payments that are dependent on an index or a rate are initially measured using the index or rate at the commencement date and are included in the measurement of the lease liability. Variable lease payments that are not dependent on an index or a rate are excluded from the measurement of the lease liability and are recognized in profit and loss when incurred. Variable lease payments are defined as payments made for the right to use an asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time.
Old National has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components and other non-components, such as common area maintenance charges, real estate taxes, and insurance are not included in the measurement of the lease liability since they are generally able to be segregated. For certain equipment leases, Old National accounts for the lease and non-lease components as a single lease component using the practical expedient available for that class of assets. Old National does not have any material sub-lease agreements.
The components of lease expense were as follows:
Affected Line
Item in the
Statement of Income		Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in thousands)2025202420252024
Operating lease costOccupancy/Equipment expense$9,510 $8,258 $26,669 $24,352 
Finance lease cost: 
Amortization of right-of-use assetsOccupancy expense2,297 2,188 6,843 4,427 
Interest on lease liabilitiesInterest expense219 318 660 752 
Sub-lease incomeOccupancy expense(73)(110)(262)(358)
Total $11,953 $10,654 $33,910 $29,173 
Supplemental balance sheet information related to leases was as follows:
(dollars in thousands)September 30,
2025		December 31,
2024
Operating Leases 
Operating lease right-of-use assets$215,262 $181,920 
Operating lease liabilities233,080 200,068 
Finance Leases
Premises and equipment, net23,640 23,205 
Other borrowings25,410 24,822 
Weighted-Average Remaining Lease Term (in Years)
Operating leases8.87.8
Finance leases7.37.8
Weighted-Average Discount Rate
Operating leases3.71 %3.14 %
Finance leases4.04 %3.96 %
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(dollars in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities: 
Operating cash flows from operating leases$27,825 $24,849 
Operating cash flows from finance leases660 752 
Financing cash flows from finance leases6,690 4,061 
The following table presents a maturity analysis of the Company’s lease liability by lease classification at September 30, 2025:
(dollars in thousands)Operating
Leases		Finance
Leases
2025$9,947 $2,459 
202639,482 8,662 
202737,966 2,656 
202834,016 2,339 
202931,409 1,498 
Thereafter123,256 11,980 
Total undiscounted lease payments276,076 29,594 
Amounts representing interest(42,996)(4,184)
Lease liability$233,080 $25,410