OLD NATIONAL BANCORP IN
For the period ended Mar 31, 2024. Filed May 1, 2024.
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Mar 31, 2024 · Filed May 1, 2024
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Federal Home Loan Bank Advances
NOTE 11 –FEDERAL HOME LOAN BANK ADVANCES
The following table summarizes Old National Bank’s FHLB advances:
| (dollars in thousands) | March 31,2024 | December 31, 2023 |
|---|---|---|
| FHLB advances (fixed rates 2.19% to 5.53% and variable rates 5.33% to 5.36%) maturing June 2024 to March 2044 | $4,225,528 | $4,300,528 |
| Fair value hedge basis adjustments and unamortized prepayment fees | (32,489) | (19,847) |
| Total | $4,193,039 | $4,280,681 |
FHLB advances had weighted-average rates of 3.58% at March 31, 2024 and 3.45% at December 31, 2023. FHLB advances are collateralized by designated assets that may include qualifying commercial real estate loans, residential and multifamily mortgages, home equity loans, and certain investment securities.
At March 31, 2024, total unamortized prepayment fees related to all FHLB advance debt modifications completed in prior years totaled $12.7 million, compared to $14.2 million at December 31, 2023.
Contractual maturities of FHLB advances at March 31, 2024 were as follows:
| (dollars in thousands) | |
|---|---|
| Due in 2024 | $100,243 |
| Due in 2025 | 550,285 |
| Due in 2026 | 100,000 |
| Due in 2028 | 850,000 |
| Thereafter | 2,625,000 |
| Fair value hedge basis adjustments and unamortized prepayment fees | (32,489) |
| Total | $4,193,039 |
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