Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

The following are the condensed parent company only financial statements of Old National:


OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS
	December 31,
(dollars in thousands)	2025		2024
Assets
Deposits in affiliate bank	$	491,210	$	299,179
Equity securities	98,286		63,067
Investment securities - available-for-sale	4,844		17,363
Investment in affiliates:
Banking subsidiaries	8,112,742		6,159,143
Non-banks	41,305		39,412
Goodwill	59,627		59,627
Other assets	189,616		136,218
Total assets	$	8,997,630	$	6,774,009
Liabilities and Shareholders’ Equity
Other liabilities	$	146,452	$	103,967
Other borrowings	356,390		329,692
Shareholders’ equity	8,494,788		6,340,350
Total liabilities and shareholders’ equity	$	8,997,630	$	6,774,009

Schedule of Condensed Statements of Income


OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENTS OF INCOME
	Years Ended December 31,
(dollars in thousands)	2025		2024		2023
Income
Dividends from affiliates	$	285,000	$	385,000	$	150,000

Other income	11,928		9,004		2,919
Other income from affiliates	5		5		5
Total income	296,933		394,009		152,924
Expense
Interest on borrowings	16,727		19,445		20,700
Other expenses	92,962		41,231		43,185
Total expense	109,689		60,676		63,885
Income (loss) before income taxes and equity in undistributed earnings of affiliates	187,244		333,333		89,039
Income tax expense (benefit)	(19,329)		(6,642)		(11,325)
Income (loss) before equity in undistributed earnings of affiliates	206,573		339,975		100,364
Equity in undistributed earnings of affiliates	462,684		199,213		481,628
Net income	669,257		539,188		581,992
Preferred dividends	(16,135)		(16,135)		(16,135)
Net income applicable to common shareholders	$	653,122	$	523,053	$	565,857

Schedule of Condensed Statement of Cash Flows


OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENT OF CASH FLOWS
	Years Ended December 31,
(dollars in thousands)	2025		2024		2023
Cash Flows From Operating Activities
Net income	$	669,257	$	539,188	$	581,992
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	10		26		18

Share-based compensation expense	38,214		32,283		27,910
(Increase) decrease in other assets	85,847		12,149		(19,353)
Increase (decrease) in other liabilities	100,166		11,772		(2,561)
Equity in undistributed earnings of affiliates	(462,684)		(199,213)		(481,628)
Net cash flows provided by (used in) operating activities	430,810		396,205		106,378
Cash Flows From Investing Activities
Net cash and cash equivalents of acquisitions	(367,143)		—		—

Proceeds from sales of investment securities	13,000		—		—
Proceeds from sales of equity securities	5,999		—		—
Purchases of equity securities	(7,723)		(7,244)		(17,773)



Purchases of premises and equipment	(321)		(76)		(8)
Net cash flows provided by (used in) investing activities	(356,188)		(7,320)		(17,781)
Cash Flows From Financing Activities
Payments for maturities/redemptions of other borrowings	(30,000)		(174,987)		—
Cash dividends paid	(225,117)		(191,163)		(180,030)
Common stock repurchased	(71,799)		(8,884)		(44,308)
Common stock issued for ESPP	1,089		1,034		1,076
Common stock issued for forward sale agreements	443,236		—		—
Net cash flows provided by (used in) financing activities	117,409		(374,000)		(223,262)
Net increase (decrease) in cash and cash equivalents	192,031		14,885		(134,665)
Cash and cash equivalents at beginning of period	299,179		284,294		418,959
Cash and cash equivalents at end of period	$	491,210	$	299,179	$	284,294