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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 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)
September 30, 2025
Commercial (1)
$14,506,375 $(219,588)$14,286,787 
Commercial real estate22,083,734 (172,932)21,910,802 
BBCCN/A392,520 392,520 
Residential real estate8,190,127 — 8,190,127 
Consumer3,187,679 (3,187,679)N/A
IndirectN/A1,058,734 1,058,734 
DirectN/A589,133 589,133 
Home equityN/A1,539,812 1,539,812 
Total loans (2)
$47,967,915 $— $47,967,915 
Allowance for credit losses on loans(572,178)— (572,178)
Net loans$47,395,737 $— $47,395,737 
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 $84.9 million at September 30, 2025 and $120.6 million at December 31, 2024.
(2)    Includes unamortized premiums and discounts, and unamortized deferred fees and costs of $589.9 million at September 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 September 30, 2025  
Commercial$215,917 $6,666 $(22,068)$1,222 $33,246 $234,983 
Commercial real estate294,303 6,438 (8,016)2,101 (11,999)282,827 
BBCC2,488 — (419)25 364 2,458 
Residential real estate31,850 — (25)51 (445)31,431 
Indirect8,430 — (1,863)690 704 7,961 
Direct2,564 — (2,907)648 2,113 2,418 
Home equity9,557 — (104)627 20 10,100 
Total$565,109 $13,104 $(35,402)$5,364 $24,003 $572,178 
Three Months Ended September 30, 2024
Commercial$138,460 $3,245 $(11,512)$308 $6,341 $136,842 
Commercial real estate189,911 (442)(2,799)214 18,015 204,899 
BBCC2,897 — (676)56 415 2,692 
Residential real estate23,135 — — 64 (1,711)21,488 
Indirect1,233 — (1,715)290 5,853 5,661 
Direct3,131 — (2,137)475 958 2,427 
Home equity7,568 — (126)84 (695)6,831 
Total$366,335 $2,803 $(18,965)$1,491 $29,176 $380,840 
Nine Months Ended September 30, 2025
Commercial$148,722 $37,158 $(48,185)$3,477 $93,811 $234,983 
Commercial real estate200,309 66,049 (29,114)2,494 43,089 282,827 
BBCC2,813 — (476)423 (302)2,458 
Residential real estate22,922 148 (302)288 8,375 31,431 
Indirect8,434 6 (5,562)2,033 3,050 7,961 
Direct2,304 47 (5,988)1,862 4,193 2,418 
Home equity7,018 138 (269)1,137 2,076 10,100 
Total$392,522 $103,546 $(89,896)$11,714 $154,292 $572,178 
Nine Months Ended September 30, 2024
Commercial$118,333 $17,838 $(25,098)$1,104 $24,665 $136,842 
Commercial real estate155,099 8,041 (12,541)1,791 52,509 204,899 
BBCC2,887 — (1,687)304 1,188 2,692 
Residential real estate20,837 134 — 845 (328)21,488 
Indirect1,236 — (3,937)957 7,405 5,661 
Direct3,169 59 (6,449)1,527 4,121 2,427 
Home equity6,049 653 (314)229 214 6,831 
Total$307,610 $26,725 $(50,026)$6,757 $89,774 $380,840 
Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in thousands)2025202420252024
Allowance for credit losses on unfunded loan commitments: 
Balance at beginning of period$29,603 $25,733 $21,654 $31,226 
Provision for credit losses on unfunded loan commitments
   acquired during the period		— — 6,458 1,763 
Provision (release) for credit losses on unfunded loan
   commitments		2,735 (679)4,226 (7,935)
Balance at end of period$32,338 $25,054 $32,338 $25,054 
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
September 30, 2025
Commercial:
Pass$1,963,538 $2,114,040 $1,304,549 $1,175,774 $801,522 $2,040,836 $2,904,090 $723,505 $13,027,854 
Special Mention18,546 52,736 91,278 29,264 4,598 83,563 56,994 9,964 346,943 
Classified:
Substandard17,189 95,173 148,897 70,993 99,347 131,139 115,613 56,399 734,750 
Nonaccrual37 2,113 14,644 15,754 2,576 9,151 3,039 1,696 49,010 
Doubtful— 8,725 22,214 27,805 1,818 7,807 7,014 52,847 128,230 
Total$1,999,310 $2,272,787 $1,581,582 $1,319,590 $909,861 $2,272,496 $3,086,750 $844,411 $14,286,787 
Commercial real estate:
Pass$2,471,748 $2,398,463 $2,789,857 $3,763,365 $2,087,653 $5,368,342 $143,852 $888,846 $19,912,126 
Special Mention4,098 19,355 63,971 141,199 124,938 141,045 16,314 27,468 538,388 
Classified:
Substandard10,749 17,920 126,618 296,904 204,007 363,437 31,365 90,219 1,141,219 
Nonaccrual— 7,072 5,087 40,963 26,067 38,297 — 27,618 145,104 
Doubtful— — 19,198 12,344 28,244 86,681 — 27,498 173,965 
Total$2,486,595 $2,442,810 $3,004,731 $4,254,775 $2,470,909 $5,997,802 $191,531 $1,061,649 $21,910,802 
BBCC:
Pass$42,648 $55,346 $54,848 $37,661 $22,209 $80,716 $63,839 $18,642 $375,909 
Special Mention50 767 559 575 268 1,319 1,924 2,316 7,778 
Classified:
Substandard90 397 980 486 44 464 37 2,827 5,325 
Nonaccrual— — 14 50 15 321 30 407 837 
Doubtful— — 260 159 368 470 — 1,414 2,671 
Total$42,788 $56,510 $56,661 $38,931 $22,904 $83,290 $65,830 $25,606 $392,520 
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
September 30, 2025
Residential real estate:
Risk Rating:
Performing$496,387 $579,883 $607,232 $1,624,263 $2,035,084 $2,783,580 $— $252 $8,126,681 
Nonperforming622 2,760 8,003 16,982 5,040 30,039 — — 63,446 
Total$497,009 $582,643 $615,235 $1,641,245 $2,040,124 $2,813,619 $— $252 $8,190,127 
Indirect:
Risk Rating:
Performing$306,534 $332,395 $194,890 $146,486 $52,820 $20,525 $161 $— $1,053,811 
Nonperforming116 1,220 1,405 1,199 717 266 — — 4,923 
Total$306,650 $333,615 $196,295 $147,685 $53,537 $20,791 $161 $— $1,058,734 
Direct:
Risk Rating:
Performing$68,671 $73,076 $60,987 $62,339 $49,941 $90,699 $171,685 $7,262 $584,660 
Nonperforming17 250 290 264 362 3,277 1 12 4,473 
Total$68,688 $73,326 $61,277 $62,603 $50,303 $93,976 $171,686 $7,274 $589,133 
Home equity:
Risk Rating:
Performing$22,914 $29,855 $23,233 $25,485 $19,736 $52,061 $1,298,408 $49,959 $1,521,651 
Nonperforming— — — 772 42 2,926 1,408 13,013 18,161 
Total$22,914 $29,855 $23,233 $26,257 $19,778 $54,987 $1,299,816 $62,972 $1,539,812 
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 September 30, 2025
Commercial$684 $6,106 $2,235 $7,155 $2,229 $3,659 $— $22,068 
Commercial real estate— — 603 1,024 2,787 3,602 — 8,016 
BBCC— — 303 94 10 12 — 419 
Residential real estate— — — — — 25 — 25 
Indirect213 504 634 291 146 75 — 1,863 
Direct13 93 114 154 103 1,741 689 2,907 
Home equity— — — 101 — 3 — 104 
Total gross charge-offs$910 $6,703 $3,889 $8,819 $5,275 $9,117 $689 $35,402 
Origination Year
20242023202220212020PriorRevolvingTotal
Three Months Ended September 30, 2024
Commercial$1,234 $8,031 $633 $297 $840 $55 $422 $11,512 
Commercial real estate— 140 61 44 — 2,554 — 2,799 
BBCC— 481 164 21 — 10 — 676 
Residential real estate— — — — — — — — 
Indirect199 797 360 110 41 208 — 1,715 
Direct8 97 398 475 224 214 721 2,137 
Home equity— — — — — 126 — 126 
Total gross charge-offs$1,441 $9,546 $1,616 $947 $1,105 $3,167 $1,143 $18,965 
Origination Year
20252024202320222021PriorRevolvingTotal
Nine Months Ended September 30, 2025
Commercial$684 $12,987 $7,030 $18,212 $2,818 $6,454 $— $48,185 
Commercial real estate— — 906 2,980 14,783 10,445 — 29,114 
BBCC— — 316 125 23 12 — 476 
Residential real estate— — — — — 302 — 302 
Indirect225 1,834 1,867 995 439 202 — 5,562 
Direct227 428 447 897 945 2,329 715 5,988 
Home equity— — — 101 — 168 — 269 
Total gross charge-offs$1,136 $15,249 $10,566 $23,310 $19,008 $19,912 $715 $89,896 
Origination Year
20242023202220212020PriorRevolvingTotal
Nine Months Ended September 30, 2024
Commercial$1,234 $10,389 $10,263 $719 $891 $625 $977 $25,098 
Commercial real estate— 140 84 2,688 — 9,629 — 12,541 
BBCC— 1,086 393 56 112 40 — 1,687 
Residential real estate— — — — — — — — 
Indirect253 1,698 1,209 431 80 266 — 3,937 
Direct83 292 1,368 1,351 510 609 2,236 6,449 
Home equity— — — 34 — 280 — 314 
Total gross charge-offs$1,570 $13,605 $13,317 $5,279 $1,593 $11,449 $3,213 $50,026 
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
September 30, 2025
Commercial$13,443 $30,769 $66,327 $110,539 $14,176,248 $14,286,787 
Commercial real estate6,057 18,547 152,683 177,287 21,733,515 21,910,802 
BBCC909 1,610 1,394 3,913 388,607 392,520 
Residential34,312 15,472 35,813 85,597 8,104,530 8,190,127 
Indirect8,178 2,231 1,217 11,626 1,047,108 1,058,734 
Direct1,644 856 1,909 4,409 584,724 589,133 
Home equity6,514 2,403 9,163 18,080 1,521,732 1,539,812 
Total$71,057 $71,888 $268,506 $411,451 $47,556,464 $47,967,915 
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:
September 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$177,240 $14,043 $394 $119,507 $30,551 $861 
Commercial real estate319,069 81,537 1,046 233,856 64,453 3,126 
BBCC3,508 — — 4,672 — — 
Residential63,446 — 34 60,454 — — 
Indirect4,923 — 18 5,372 — — 
Direct4,473 — 33 3,407 — — 
Home equity18,161 — — 20,711 — 73 
Total$590,820 $95,580 $1,525 $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
September 30, 2025
Commercial$23,980 $129,535 $7,141 $5,530 $2,338 
Commercial real estate305,228 3,434 1,362 — 119 
BBCC1,332 1,475 284 132 — 
Residential63,446 — — — — 
Indirect— — — 4,923 — 
Direct3,843 16 — 291 85 
Home equity18,161 — — — — 
Total loans$415,990 $134,460 $8,787 $10,876 $2,542 
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 $5,249 
Schedule of Activity in Trouble Debt Restructurings
The following table presents the amortized cost basis of financial difficulty modifications that were modified by class of loans and type of modification:
(dollars in thousands)Term
Extension		Payment
Delay		Interest
Rate
Reduction		Total
Class of
Loans
Three Months Ended September 30, 2025
Commercial$— $— $8,376 0.1 %
Commercial real estate68,546 — — 0.3 %
Total$68,546 $— $8,376 0.2 %
Three Months Ended September 30, 2024
Commercial$17,969 $4,776 $— 0.2 %
Commercial real estate11,121 2,554 — 0.1 %
Total$29,090 $7,330 $— 0.1 %
Nine Months Ended September 30, 2025
Commercial$63,035 $— $8,376 0.5 %
Commercial real estate162,698 — — 0.7 %
Total$225,733 $— $8,376 0.5 %
Nine Months Ended September 30, 2024
Commercial$27,085 $4,776 $— 0.3 %
Commercial real estate56,051 2,554 — 0.4 %
Total$83,136 $7,330 $— 0.2 %
Old National monitors the performance of financial difficulty modifications to understand the effectiveness of its efforts. The following table presents the performance of financial difficulty modifications in the twelve months following modification:
(dollars in thousands)30-59 Days
Past Due		60-89 Days
Past Due		Past Due
90 Days or
More		Total
Past Due		CurrentTotal
Loans
September 30, 2025
Commercial$— $— $8,222 $8,222 $63,189 $71,411 
Commercial real estate— — 8,655 8,655 154,043 162,698 
Total$— $— $16,877 $16,877 $217,232 $234,109 
September 30, 2024
Commercial$— $— $3,854 $3,854 $31,861 $35,715 
Commercial real estate5,707 3,726 21,463 30,896 67,421 98,317 
Total$5,707 $3,726 $25,317 $34,750 $99,282 $134,032 
The following table summarizes the nature of the financial difficulty modifications by class of loans:
(dollars in thousands)Weighted-
Average
Term
Extension
(in months)		Weighted-
Average
Payment
Delay
(in months)		Weighted-
Average
Interest Rate
Reduction
Three Months Ended September 30, 2025
Commercial——1.50 %
Commercial real estate8.3—— %
Total8.3—1.50 %
Three Months Ended September 30, 2024
Commercial4.46.0— %
Commercial real estate6.57.0— %
Total5.26.4— %
Nine Months Ended September 30, 2025
Commercial4.5—1.50 %
Commercial real estate8.1—— %
Total7.0—1.50 %
Nine Months Ended September 30, 2024
Commercial6.86.0— %
Commercial real estate8.87.0— %
Total8.26.4— %
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$1,876,520 $610,691 
Allowance for credit losses at acquisition103,546 26,725 
Non-credit discount at acquisition75,882 41,886 
Par value of acquired loans at acquisition$2,055,948 $679,302 
(1)Old National acquired Bremer effective May 1, 2025.
(2)Old National acquired CapStar effective April 1, 2024.