OLD NATIONAL BANCORP IN
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 2024
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Accumulated Other Comprehensive Income (Loss)
NOTE 13 –ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table summarizes the changes within each classification of AOCI, net of tax:
| (dollars in thousands) | UnrealizedGains andLosses onAvailable-for-SaleDebtSecurities | UnrealizedGains andLosses onHeld-to-MaturitySecurities | Gains andLosses onHedges | DefinedBenefitPensionPlans | Total |
|---|---|---|---|---|---|
| Balance at beginning of period | $(685,969) | $(92,251) | $(1,408) | $— | $(779,628) |
| Other comprehensive income (loss) before reclassifications | (13,347) | — | (5,215) | — | (18,562) |
| Amounts reclassified from AOCI to income (1) | (2) | 3,265 | 3,519 | — | 6,782 |
| Balance at end of period | $(699,318) | $(88,986) | $(3,104) | $— | $(791,408) |
| Balance at beginning of period | $(611,260) | $(106,966) | $9,872 | $(4) | $(708,358) |
| Other comprehensive income (loss) before reclassifications | (90,121) | — | 9,840 | — | (80,281) |
| Amounts reclassified from AOCI to income (1) | (12) | 3,822 | (23,808) | 4 | (19,994) |
| Balance at end of period | $(701,393) | $(103,144) | $(4,096) | $— | $(808,633) |
| Balance at beginning of period | $(652,518) | $(95,472) | $9,181 | $— | $(738,809) |
| Other comprehensive income (loss) before reclassifications | (46,810) | — | (19,420) | — | (66,230) |
| Amounts reclassified from AOCI to income (1) | 10 | 6,486 | 7,135 | — | 13,631 |
| Balance at end of period | $(699,318) | $(88,986) | $(3,104) | $— | $(791,408) |
| Balance at beginning of period | $(642,346) | $(112,664) | $(31,549) | $137 | $(786,422) |
| Other comprehensive income (loss) before reclassifications | (62,902) | 1,325 | 45,825 | — | (15,752) |
| Amounts reclassified from AOCI to income (1) | 3,855 | 8,195 | (18,372) | (137) | (6,459) |
| Balance at end of period | $(701,393) | $(103,144) | $(4,096) | $— | $(808,633) |
(1)See table below for details about reclassifications to income.
The following table summarizes the amounts reclassified out of each component of AOCI for the three months ended June 30, 2024 and 2023:
| Three Months EndedJune 30, | |||
|---|---|---|---|
| (dollars in thousands) · 2024 · 2023 | |||
| Details about AOCI Components · Amount Reclassifiedfrom AOCI · Affected Line Item in theStatement of Income | |||
| Unrealized gains and losses on available-for-sale securities | $2 | $17 | Debt securities gains (losses), net |
| — | (5) | Income tax (expense) benefit | |
| $2 | $12 | Net income | |
| Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | $(4,376) | $(5,122) | Interest income (expense) |
| 1,111 | 1,300 | Income tax (expense) benefit | |
| $(3,265) | $(3,822) | Net income | |
| Gains and losses on hedges Interest rate contracts | $(4,747) | $32,112 | Interest income (expense) |
| 1,228 | (8,304) | Income tax (expense) benefit | |
| $(3,519) | $23,808 | Net income | |
| Amortization of defined benefit pension items | |||
| Actuarial gains (losses) | $— | $(6) | Salaries and employee benefits |
| — | 2 | Income tax (expense) benefit | |
| $— | $(4) | Net income | |
| Total reclassifications for the period | $(6,782) | $19,994 | Net income |
The following table summarizes the amounts reclassified out of each component of AOCI for the six months ended June 30, 2024 and 2023:
| Six Months EndedJune 30, | |||
|---|---|---|---|
| (dollars in thousands) · 2024 · 2023 | |||
| Details about AOCI Components · Amount Reclassifiedfrom AOCI · Affected Line Item in theStatement of Income | |||
| Unrealized gains and losses on available-for-sale securities | $(14) | $(5,199) | Debt securities gains (losses), net |
| 4 | 1,344 | Income tax (expense) benefit | |
| $(10) | $(3,855) | Net income | |
| Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | $(8,694) | $(10,951) | Interest income (expense) |
| 2,208 | 2,756 | Income tax (expense) benefit | |
| $(6,486) | $(8,195) | Net income | |
| Gains and losses on hedges Interest rate contracts | $(9,624) | $24,820 | Interest income (expense) |
| 2,489 | (6,448) | Income tax (expense) benefit | |
| $(7,135) | $18,372 | Net income | |
| Amortization of defined benefit pension items | |||
| Actuarial gains (losses) | $— | $182 | Salaries and employee benefits |
| — | (45) | Income tax (expense) benefit | |
| $— | $137 | Net income | |
| Total reclassifications for the period | $(13,631) | $6,459 | Net income |
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