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INCOME TAXES
 9 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The following is a summary of the major items comprising the differences in taxes from continuing operations computed at the federal statutory rate and as recorded in the consolidated statements of income:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in thousands)2026202520262025
Provision at statutory rate of 21%
$67,992 $48,846 $198,078 $119,672 
State income taxes15,216 11,144 44,809 23,139 
Tax credit investments - federal:
New market tax credits(8,184)(7,842)(23,242)(15,626)
Nontaxable or nondeductible items:
Tax-exempt interest(5,118)(4,585)(15,512)(12,403)
FDIC premiums2,781 2,960 8,524 7,813 
Other, net(2,908)(492)(10,510)(5,362)
Income tax expense$69,779 $50,031 $202,147 $117,233 
Effective tax rate21.6 %21.5 %21.4 %20.6 %
Net Deferred Tax Assets
Net deferred tax assets are included in other assets on the balance sheet. At September 30, 2026, net deferred tax assets totaled $589.1 million, compared to $473.2 million at December 31, 2025. No valuation allowance was required on the Company’s deferred tax assets at September 30, 2026 or December 31, 2025.
Old National has federal net operating loss carryforwards totaling $105.3 million at September 30, 2026 and $87.8 million at December 31, 2025. If not used, the federal net operating loss carryforwards will begin expiring in 2032 and later. Old National has recorded state net operating loss carryforwards totaling $142.8 million at September 30, 2026 and $140.3 million at December 31, 2025. If not used, the state net operating loss carryforwards will expire from 2028 and later. The federal and recorded state net operating loss carryforwards are subject to an annual limitation under Internal Revenue Code section 382. Old National believes that all of the federal and recorded state net operating loss carryforwards will be used prior to expiration.