v3.26.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2026
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, 2026
Commercial (1)
$16,260,724 $— $16,260,724 
Commercial real estate22,692,502 — 22,692,502 
Residential real estate8,770,515 165,020 8,935,535 
Consumer3,424,322 (3,424,322)N/A
IndirectN/A1,288,306 1,288,306 
Home equityN/A1,620,884 1,620,884 
Other consumerN/A350,112 350,112 
Total loans (2)
$51,148,063 $— $51,148,063 
Allowance for credit losses on loans(579,658)— (579,658)
Net loans$50,568,405 $— $50,568,405 
December 31, 2025
Commercial (1)
$14,983,861 $(220,410)$14,763,451 
Commercial real estate22,050,007 (175,670)21,874,337 
BBCCN/A396,080 396,080 
Residential real estate8,467,496 — 8,467,496 
Consumer3,262,798 (3,262,798)N/A
IndirectN/A1,075,235 1,075,235 
DirectN/A649,297 649,297 
Home equityN/A1,538,266 1,538,266 
Total loans (2)
$48,764,162 $— $48,764,162 
Allowance for credit losses on loans(569,520)— (569,520)
Net loans$48,194,642 $— $48,194,642 
(1)Includes direct finance leases of $51.0 million at September 30, 2026 and $75.1 million at December 31, 2025.
(2)    Includes unamortized premiums and discounts, and unamortized deferred fees and costs of $422.5 million at September 30, 2026 and $540.1 million at December 31, 2025.
Schedule of Activity in Allowance for Loan Losses Old National’s activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2026 by portfolio segment was as follows:
(dollars in thousands)Balance at
Beginning of
Period		Realignment
of Loan
Portfolio
Segments		Charge-offsRecoveriesProvision
for Loan
Losses		Balance at
End of
Period
Three Months Ended September 30, 2026
Commercial$253,854 $1,999 $(41,827)$10,050 $29,138 $253,214 
Commercial real estate263,706 962 (1,810)2,844 (24,646)241,056 
BBCC2,961 (2,961)— — — — 
Residential real estate40,450 580 (72)78 13,567 54,603 
Indirect7,228 357 (2,539)584 1,683 7,313 
Direct2,273 (2,273)— — — — 
Home equity10,039 — (120)174 9,751 19,844 
Other consumer— 1,336 (1,907)455 3,744 3,628 
Total$580,511 $— $(48,275)$14,185 $33,237 $579,658 
Nine Months Ended September 30, 2026
Commercial$244,670 $1,999 $(84,979)$20,111 $71,413 $253,214 
Commercial real estate268,332 962 (28,432)4,270 (4,076)241,056 
BBCC2,371 (2,961)(1,296)240 1,646 — 
Residential real estate34,394 580 (458)202 19,885 54,603 
Indirect8,021 357 (5,746)1,922 2,759 7,313 
Direct2,478 (2,273)(4,026)1,196 2,625 — 
Home equity9,254 — (278)373 10,495 19,844 
Other consumer— 1,336 (1,907)455 3,744 3,628 
Total$569,520 $— $(127,122)$28,769 $108,491 $579,658 
Old National’s activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2025 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 
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 
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)2026202520262025
Balance at beginning of period$31,531 $29,603 $35,633 $21,654 
Provision for credit losses on unfunded loan commitments
   acquired during the period		— — — 6,458 
Provision (release) for credit losses on unfunded loan
   commitments		343 2,735 (3,759)4,226 
Balance at end of period$31,874 $32,338 $31,874 $32,338 
Schedule of Risk Category of Loans and Amortized Cost
The following tables summarize the amortized cost of term loans by risk rating, class of loan, and origination year:
(dollars in thousands)Origination YearRevolving to Term
20262025202420232022PriorRevolvingTotal
September 30, 2026
Commercial:
Pass$2,714,397 $2,654,598 $1,615,999 $907,248 $813,799 $1,776,103 $3,846,565 $864,773 $15,193,482 
Special Mention22,542 48,943 71,426 47,929 18,447 13,440 71,041 12,199 305,967 
Classified:
Substandard6,531 30,463 113,231 75,154 31,471 79,151 154,392 64,815 555,208 
Nonaccrual— 2,550 2,670 2,398 3,392 2,120 767 5,261 19,158 
Doubtful— 5,703 11,001 58,868 6,158 34,332 7,170 63,677 186,909 
Total$2,743,470 $2,742,257 $1,814,327 $1,091,597 $873,267 $1,905,146 $4,079,935 $1,010,725 $16,260,724 
Commercial real estate:
Pass$3,243,624 $4,116,584 $2,288,401 $1,970,734 $2,587,533 $5,744,807 $116,931 $990,403 $21,059,017 
Special Mention1,317 21,714 21,311 26,065 56,273 166,237 1,185 8,737 302,839 
Classified:
Substandard805 28,939 137,863 328,502 275,962 365,490 228 44,692 1,182,481 
Nonaccrual— — 4,835 813 3,460 10,060 — 8 19,176 
Doubtful— — 3,560 31,261 29,212 45,332 — 19,624 128,989 
Total$3,245,746 $4,167,237 $2,455,970 $2,357,375 $2,952,440 $6,331,926 $118,344 $1,063,464 $22,692,502 
Origination YearRevolving to Term
20252024202320222021PriorRevolvingTotal
December 31, 2025
Commercial:
Pass$3,073,330 $1,895,772 $1,186,468 $1,064,904 $619,076 $1,567,563 $3,458,502 $774,686 $13,640,301 
Special Mention23,368 84,827 88,803 18,830 7,878 8,161 82,334 14,990 329,191 
Classified:
Substandard16,253 89,293 113,232 62,649 68,265 56,616 129,209 85,729 621,246 
Nonaccrual140 1,617 6,003 7,053 1,001 654 8,659 1,944 27,071 
Doubtful— 7,337 34,925 27,218 2,409 24,547 — 49,206 145,642 
Total$3,113,091 $2,078,846 $1,429,431 $1,180,654 $698,629 $1,657,541 $3,678,704 $926,555 $14,763,451 
Commercial real estate:
Pass$3,746,158 $2,363,809 $2,510,901 $3,325,135 $1,945,116 $5,082,931 $169,450 $886,279 $20,029,779 
Special Mention12,351 20,695 85,266 97,148 102,821 107,590 16,239 24,962 467,072 
Classified:
Substandard14,773 34,761 184,806 294,789 116,261 321,725 45,692 120,284 1,133,091 
Nonaccrual— 4,721 1,282 6,905 5,442 24,308 — 23,642 66,300 
Doubtful— 3,120 23,039 38,716 22,966 60,503 — 29,751 178,095 
Total$3,773,282 $2,427,106 $2,805,294 $3,762,693 $2,192,606 $5,597,057 $231,381 $1,084,918 $21,874,337 
BBCC:
Pass$57,344 $53,469 $50,466 $35,366 $20,106 $75,805 $65,971 $20,036 $378,563 
Special Mention— 663 834 512 535 1,490 2,281 3,323 9,638 
Classified:
Substandard86 191 474 304 26 724 203 2,877 4,885 
Nonaccrual50 — 60 98 359 345 — 1,115 2,027 
Doubtful— — 463 205 — 31 — 268 967 
Total$57,480 $54,323 $52,297 $36,485 $21,026 $78,395 $68,455 $27,619 $396,080 
For residential real estate and consumer loan classes, Old National evaluates credit quality based on the aging status of the loan and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. 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)20262025202420232022PriorRevolvingTotal
September 30, 2026
Residential real estate:
Risk Rating:
Performing$706,570 $914,125 $450,122 $522,737 $1,578,121 $4,675,359 $— $569 $8,847,603 
Nonperforming606 8,636 7,307 12,049 15,855 43,479 — — 87,932 
Total$707,176 $922,761 $457,429 $534,786 $1,593,976 $4,718,838 $— $569 $8,935,535 
Indirect:
Risk Rating:
Performing$478,444 $320,041 $206,793 $109,391 $69,087 $98,675 $137 $— $1,282,568 
Nonperforming350 904 1,274 1,505 1,029 676 — — 5,738 
Total$478,794 $320,945 $208,067 $110,896 $70,116 $99,351 $137 $— $1,288,306 
Home equity:
Risk Rating:
Performing$— $52 $71 $235 $1,124 $15,100 $1,503,359 $78,995 $1,598,936 
Nonperforming— — 40 54 765 3,524 2,295 15,270 21,948 
Total$— $52 $111 $289 $1,889 $18,624 $1,505,654 $94,265 $1,620,884 
Other consumer:
Risk Rating:
Performing$47,825 $48,956 $39,012 $34,691 $48,599 $25,916 $98,523 $6,244 $349,766 
Nonperforming— 17 130 37 42 120 — — 346 
Total$47,825 $48,973 $39,142 $34,728 $48,641 $26,036 $98,523 $6,244 $350,112 
Origination YearRevolving to Term
20252024202320222021PriorRevolvingTotal
December 31, 2025
Residential real estate:
Risk Rating:
Performing$955,730 $539,011 $584,626 $1,668,796 $1,960,186 $2,684,743 $— $598 $8,393,690 
Nonperforming1,639 5,684 10,409 17,917 5,328 32,829 — — 73,806 
Total$957,369 $544,695 $595,035 $1,686,713 $1,965,514 $2,717,572 $— $598 $8,467,496 
Indirect:
Risk Rating:
Performing$417,924 $296,068 $170,873 $124,182 $42,664 $17,567 $155 $— $1,069,433 
Nonperforming574 1,299 1,747 1,332 638 212 — — 5,802 
Total$418,498 $297,367 $172,620 $125,514 $43,302 $17,779 $155 $— $1,075,235 
Direct:
Risk Rating:
Performing$72,393 $54,308 $49,357 $53,343 $41,664 $132,876 $236,832 $4,193 $644,966 
Nonperforming43 404 435 402 345 2,691 — 11 4,331 
Total$72,436 $54,712 $49,792 $53,745 $42,009 $135,567 $236,832 $4,204 $649,297 
Home equity:
Risk Rating:
Performing$11 $71 $395 $1,227 $651 $16,913 $1,443,256 $58,538 $1,521,062 
Nonperforming42 40 45 938 95 3,359 546 12,139 17,204 
Total$53 $111 $440 $2,165 $746 $20,272 $1,443,802 $70,677 $1,538,266 
The following table summarizes the gross charge-offs of loans by loan portfolio segment and origination year:
Origination Year
(dollars in thousands)20262025202420232022PriorRevolvingTotal
Three Months Ended September 30, 2026
Commercial$— $165 $2,309 $21,516 $1,458 $15,357 $1,022 $41,827 
Commercial real estate— — — 21 265 1,524 — 1,810 
Residential real estate— — — — — 72 — 72 
Indirect149 1,089 680 314 207 100 — 2,539 
Home equity— — — — 37 83 — 120 
Other consumer49 38 67 216 90 235 1,212 1,907 
Total gross charge-offs$198 $1,292 $3,056 $22,067 $2,057 $17,371 $2,234 $48,275 
Origination Year
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
20262025202420232022PriorRevolvingTotal
Nine Months Ended September 30, 2026
Commercial$478 $6,328 $13,033 $36,106 $5,187 $22,434 $1,413 $84,979 
Commercial real estate— — — 4,804 6,450 17,178 — 28,432 
BBCC— 50 325 537 384 — — 1,296 
Residential real estate— — — — 26 432 — 458 
Indirect252 1,966 1,528 1,065 686 249 — 5,746 
Direct68 321 424 378 625 1,241 969 4,026 
Home equity— — — — 37 140 101 278 
Other consumer49 38 67 216 90 235 1,212 1,907 
Total gross charge-offs$847 $8,703 $15,377 $43,106 $13,485 $41,909 $3,695 $127,122 
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 
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, 2026
Commercial$20,681 $8,607 $89,676 $118,964 $16,141,760 $16,260,724 
Commercial real estate26,421 17,843 63,093 107,357 22,585,145 22,692,502 
Residential54,217 19,469 43,285 116,971 8,818,564 8,935,535 
Indirect8,338 2,344 1,609 12,291 1,276,015 1,288,306 
Home equity9,245 2,630 8,052 19,927 1,600,957 1,620,884 
Other consumer1,188 809 2,795 4,792 345,320 350,112 
Total$120,090 $51,702 $208,510 $380,302 $50,767,761 $51,148,063 
December 31, 2025
Commercial$23,702 $7,200 $68,776 $99,678 $14,663,773 $14,763,451 
Commercial real estate20,870 8,151 122,781 151,802 21,722,535 21,874,337 
BBCC1,297 1,359 463 3,119 392,961 396,080 
Residential45,817 13,650 40,512 99,979 8,367,517 8,467,496 
Indirect8,844 2,263 1,877 12,984 1,062,251 1,075,235 
Direct3,644 1,605 1,762 7,011 642,286 649,297 
Home equity7,186 2,956 8,307 18,449 1,519,817 1,538,266 
Total$111,360 $37,184 $244,478 $393,022 $48,371,140 $48,764,162 
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, 2026December 31, 2025
(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$206,067 $5,971 $1,770 $172,713 $9,665 $1,310 
Commercial real estate148,165 33,946 2,087 244,395 57,647 — 
BBCC (1)
N/AN/AN/A2,994 — 177 
Residential87,932 — 99 73,806 — 599 
Indirect5,738 — 47 5,802 — 203 
Direct (1)
N/AN/AN/A4,331 — 74 
Home equity21,948 — — 17,204 — 328 
Other consumer346 — 76 N/AN/AN/A
Total$470,196 $39,917 $4,079 $521,245 $67,312 $2,691 
(1)At September 30, 2026, loans previously included in the BBCC portfolio segment are now presented in their respective commercial and commercial real estate categories. Loans previously included in the direct portfolio segment have been reclassified to consumer loan portfolio segments based upon collateral and repayment risks.
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, 2026
Commercial$12,651 $175,557 $8,473 $1,556 $821 
Commercial real estate146,340 167 281 — 106 
Residential87,932 — — — — 
Indirect— — — 5,738 — 
Home equity21,948 — — — — 
Other consumer— 4 — — 39 
Total loans$268,871 $175,728 $8,754 $7,294 $966 
December 31, 2025
Commercial$17,098 $131,107 $6,851 $5,411 $1,942 
Commercial real estate237,984 3,381 1,238 — 116 
BBCC1,364 832 269 260 — 
Residential73,806 — — — — 
Indirect— — — 5,802 — 
Direct3,676 15 — 324 16 
Home equity17,204 — — — — 
Total loans$351,132 $135,335 $8,358 $11,797 $2,074 
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, 2026
Commercial$65,847 $7,918 $— 0.5 %
Commercial real estate46,358 19,830 — 0.3 %
Total$112,205 $27,748 $— 0.3 %
Three Months Ended September 30, 2025
Commercial$— $— $8,376 0.1 %
Commercial real estate68,546 — — 0.3 %
Total$68,546 $— $8,376 0.2 %
Nine Months Ended September 30, 2026
Commercial$83,581 $7,918 $— 0.6 %
Commercial real estate85,533 19,830 — 0.5 %
Total$169,114 $27,748 $— 0.4 %
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 %
The following table summarizes the nature of the financial difficulty modifications by class of loans:
Weighted-
Average
Term
Extension
(in months)		Weighted-
Average
Payment
Delay
(in months)		Weighted-
Average
Interest Rate
Reduction
Three Months Ended September 30, 2026
Commercial6.36.7— %
Commercial real estate9.05.5— %
Total7.65.7— %
Three Months Ended September 30, 2025
Commercial——1.50 %
Commercial real estate8.3—— %
Total8.3—1.50 %
Nine Months Ended September 30, 2026
Commercial6.56.7— %
Commercial real estate8.15.5— %
Total7.45.7— %
Nine Months Ended September 30, 2025
Commercial4.5—1.50 %
Commercial real estate8.1—— %
Total7.0—1.50 %
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, 2026
Commercial$3,331 $— $7,022 $10,353 $81,146 $91,499 
Commercial real estate— — — — 105,363 105,363 
Total$3,331 $— $7,022 $10,353 $186,509 $196,862 
September 30, 2025
Commercial$— $— $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 
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)
Purchase price of loans at acquisition$1,876,226 
Allowance for credit losses at acquisition103,546 
Non-credit discount at acquisition75,826 
Par value of acquired loans at acquisition$2,055,598 
(1)Old National acquired Bremer effective May 1, 2025.