OLD NATIONAL BANCORP /IN/, 10-Q filed on 7/30/2025
Quarterly Report
v3.25.2
Cover - shares
 6 Months Ended
Jun. 30, 2025
Jul. 30, 2025
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2025  
Document Transition Report false  
Entity File Number 001-15817  
Entity Registrant Name Old National Bancorp  
Entity Incorporation, State or Country Code IN  
Entity Tax Identification Number 35-1539838  
Entity Address, Address Line One One Main Street  
Entity Address, City or Town Evansville,  
Entity Address, State or Province IN  
Entity Address, Postal Zip Code 47708  
City Area Code (800)  
Local Phone Number 731-2265  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   391,855,000
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0000707179  
Current Fiscal Year End Date --12-31  
Common Stock    
Entity Information [Line Items]    
Title of 12(b) Security Common stock, no par value  
Trading Symbol ONB  
Security Exchange Name NASDAQ  
Depositary Shares, each representing a 1/40th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A    
Entity Information [Line Items]    
Title of 12(b) Security Depositary Shares, each representing a 1/40th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A  
Trading Symbol ONBPP  
Security Exchange Name NASDAQ  
Depositary Shares, each representing a 1/40th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series C    
Entity Information [Line Items]    
Title of 12(b) Security Depositary Shares, each representing a 1/40th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series C  
Trading Symbol ONBPO  
Security Exchange Name NASDAQ  
v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 637,556 $ 394,450
Money market and other interest-earning investments 1,171,015 833,518
Total cash and cash equivalents 1,808,571 1,227,968
Equity securities, at fair value 121,025 91,996
Investment securities - available-for-sale, at fair value (amortized cost $11,831,441 and $8,480,508, respectively) 11,005,196 7,458,459
Investment securities - held-to-maturity, at amortized cost (fair value $2,470,347 and $2,471,138, respectively) 2,926,368 2,954,881
Federal Home Loan Bank/Federal Reserve Bank stock, at cost 468,309 378,705
Loans held-for-sale, at fair value 77,618 34,483
Loans:    
Total loans, net of unearned income 47,902,819 36,285,887
Allowance for credit losses on loans (565,109) (392,522)
Net loans 47,337,710 35,893,365
Premises and equipment, net 682,539 588,970
Goodwill 2,409,886 2,175,251
Other intangible assets 534,486 120,847
Company-owned life insurance 1,046,693 859,851
Accrued interest receivable and other assets 2,561,404 1,767,496
Total assets 70,979,805 53,552,272
Deposits:    
Noninterest-bearing demand 12,652,556 9,399,019
Interest-bearing:    
Checking and NOW 10,554,889 8,040,331
Savings 5,058,819 4,753,279
Money market 16,880,190 11,875,192
Time deposits 9,211,229 6,755,739
Total deposits 54,357,683 40,823,560
Federal funds purchased and interbank borrowings 340,246 385
Securities sold under agreements to repurchase 297,637 268,975
Federal Home Loan Bank advances 5,835,918 4,452,559
Other borrowings 872,297 689,618
Accrued expenses and other liabilities 1,149,637 976,825
Total liabilities 62,853,418 47,211,922
Shareholders’ Equity    
Preferred stock, 2,000 shares authorized, 231 shares issued and outstanding 230,500 230,500
Common stock, no par value, $1.00 per share stated value, 600,000 shares authorized,    391,818 and 318,980 shares issued and outstanding, respectively 391,818 318,980
Capital surplus 5,976,184 4,570,865
Retained earnings 2,127,493 1,966,048
Accumulated other comprehensive income (loss), net of tax (599,608) (746,043)
Total shareholders’ equity 8,126,387 6,340,350
Total liabilities and shareholders’ equity 70,979,805 53,552,272
Commercial    
Loans:    
Total loans, net of unearned income 14,662,916 10,288,560
Allowance for credit losses on loans (215,917) (148,722)
Commercial real estate    
Loans:    
Total loans, net of unearned income 21,879,785 16,307,486
Allowance for credit losses on loans (294,303) (200,309)
Residential real estate    
Loans:    
Total loans, net of unearned income 8,212,242 6,797,586
Allowance for credit losses on loans (31,850) (22,922)
Consumer    
Loans:    
Total loans, net of unearned income $ 3,147,876 $ 2,892,255
v3.25.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Available-for-sale, amortized cost $ 11,831,441 $ 8,480,508
Investment securities - held-to-maturity, fair value $ 2,470,347 $ 2,471,138
Preferred stock, shares authorized (in shares) 2,000 2,000
Preferred stock, shares issued (in shares) 231 231
Preferred stock, shares outstanding (in shares) 231 231
Common stock, stated value (in dollars per share) $ 1.00 $ 1.00
Authorized and unissued common shares reserved for issuance (in shares) 600,000 600,000
Common stock, shares issued (in shares) 391,818 318,980
Common stock, shares outstanding (in shares) 391,818 318,980
v3.25.2
Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Loans including fees:        
Taxable $ 658,508 $ 545,622 $ 1,174,274 $ 1,032,983
Nontaxable 16,590 13,243 26,767 26,345
Investment securities:        
Taxable 124,880 82,755 210,414 157,782
Nontaxable 10,192 10,732 20,299 21,238
Money market and other interest-earning investments 14,791 11,311 23,606 21,296
Total interest income 824,961 663,663 1,455,360 1,259,644
Interest Expense        
Deposits 240,088 215,806 430,583 401,245
Federal funds purchased and interbank borrowings 953 1,986 2,578 2,947
Securities sold under agreements to repurchase 636 639 1,187 1,556
Federal Home Loan Bank advances 59,042 44,643 100,938 85,810
Other borrowings 9,452 12,168 17,641 23,207
Total interest expense 310,171 275,242 552,927 514,765
Net interest income 514,790 388,421 902,433 744,879
Provision for credit losses 106,835 36,214 138,238 55,105
Net interest income after provision for credit losses 407,955 352,207 764,195 689,774
Noninterest Income        
Wealth and investment services fees 35,817 29,358 65,465 57,662
Service charges on deposit accounts 23,878 19,350 45,034 37,248
Debit card and ATM fees 12,922 10,993 22,913 21,047
Mortgage banking revenue 10,032 7,064 16,911 11,542
Capital markets income 7,114 4,729 11,620 7,629
Company-owned life insurance 6,625 5,739 12,006 9,173
Debt securities gains (losses), net (41) 2 (117) (14)
Other income 36,170 10,036 52,479 20,506
Total noninterest income 132,517 87,271 226,311 164,793
Noninterest Expense        
Salaries and employee benefits 202,112 159,193 350,417 308,996
Occupancy 30,432 26,547 59,485 53,566
Equipment 12,566 8,704 21,467 17,375
Marketing 13,759 11,284 25,699 21,918
Technology 31,452 24,002 53,472 44,025
Communication 5,014 4,480 9,148 8,480
Professional fees 21,931 10,552 29,850 16,958
FDIC assessment 13,409 9,676 23,109 20,989
Amortization of intangibles 19,630 7,425 26,460 12,880
Amortization of tax credit investments 5,815 2,747 9,239 5,496
Other expense 28,646 18,389 44,891 34,633
Total noninterest expense 384,766 282,999 653,237 545,316
Income before income taxes 155,706 156,479 337,269 309,251
Income tax expense 30,298 35,250 67,202 67,738
Net income 125,408 121,229 270,067 241,513
Preferred dividends (4,033) (4,033) (8,067) (8,067)
Net income applicable to common shareholders $ 121,375 $ 117,196 $ 262,000 $ 233,446
Net income per common share - basic (in dollars per share) $ 0.34 $ 0.37 $ 0.78 $ 0.77
Net income per common share - diluted (in dollars per share) $ 0.34 $ 0.37 $ 0.77 $ 0.77
Weighted average number of common shares outstanding - basic (in shares) 360,155 315,585 338,162 303,283
Weighted average number of common shares outstanding - diluted (in shares) 361,436 316,461 340,250 304,207
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.28 $ 0.28
v3.25.2
Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 125,408 $ 121,229 $ 270,067 $ 241,513
Change in debt securities available-for-sale:        
Unrealized holding gains (losses) for the period 54,305 (17,788) 167,977 (62,497)
Reclassification adjustment for securities (gains) losses realized in income 41 (2) 117 14
Income tax effect (13,725) 4,441 (42,189) 15,683
Unrealized gains (losses) on available-for-sale securities 40,621 (13,349) 125,905 (46,800)
Change in securities held-to-maturity:        
Amortization of unrecognized losses on securities transferred     from available-for-sale 4,069 4,376 7,984 8,694
Income tax effect (1,032) (1,111) (2,026) (2,208)
Changes from securities held-to-maturity 3,037 3,265 5,958 6,486
Change in hedges:        
Net unrealized derivative gains (losses) on hedges 4,539 (7,035) 15,925 (26,194)
Reclassification adjustment for (gains) losses realized in net income 2,533 4,747 3,729 9,624
Income tax effect (1,829) 592 (5,082) 4,285
Changes from hedges 5,243 (1,696) 14,572 (12,285)
Other comprehensive income (loss), net of tax 48,901 (11,780) 146,435 (52,599)
Comprehensive income (loss) $ 174,309 $ 109,449 $ 416,502 $ 188,914
v3.25.2
Consolidated Statements of Changes in Shareholders' Equity (unaudited) - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Capital Surplus
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2023 $ 5,562,900 $ 230,500 $ 292,655 $ 4,159,924 $ 1,618,630 $ (738,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 120,284       120,284  
Other comprehensive income (loss) (40,819)         (40,819)
Cash dividends:            
Common (41,060)       (41,060)  
Preferred (4,034)       (4,034)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 265   17 248    
Common stock repurchased (7,182)   (434) (6,748)    
Share-based compensation expense 5,491     5,491    
Stock activity under incentive compensation plans (437)   1,092 (1,373) (156)  
Ending balance at Mar. 31, 2024 5,595,408 230,500 293,330 4,157,542 1,693,664 (779,628)
Beginning balance at Dec. 31, 2023 5,562,900 230,500 292,655 4,159,924 1,618,630 (738,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 241,513          
Other comprehensive income (loss) (52,599)          
Common stock issued for merger, net 417,598          
Ending balance at Jun. 30, 2024 6,075,072 230,500 318,969 4,550,965 1,766,046 (791,408)
Beginning balance at Mar. 31, 2024 5,595,408 230,500 293,330 4,157,542 1,693,664 (779,628)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 121,229       121,229  
Other comprehensive income (loss) (11,780)         (11,780)
Common stock issued for merger, net 417,598   24,014 393,584    
Cash dividends:            
Common (44,656)       (44,656)  
Preferred (4,033)       (4,033)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 265   16 249    
Common stock repurchased (1,276)   (77) (1,199)    
Share-based compensation expense 9,062     9,062    
Stock activity under incentive compensation plans (6,745)   1,686 (8,273) (158)  
Ending balance at Jun. 30, 2024 6,075,072 230,500 318,969 4,550,965 1,766,046 (791,408)
Beginning balance at Dec. 31, 2024 6,340,350 230,500 318,980 4,570,865 1,966,048 (746,043)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 144,659       144,659  
Other comprehensive income (loss) 97,534         97,534
Cash dividends:            
Common (44,653)       (44,653)  
Preferred (4,034)       (4,034)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 250   12 238    
Common stock repurchased (13,538)   (611) (12,927)    
Share-based compensation expense 14,411     14,411    
Stock activity under incentive compensation plans (325)   855 (481) (699)  
Ending balance at Mar. 31, 2025 6,534,654 230,500 319,236 4,572,106 2,061,321 (648,509)
Beginning balance at Dec. 31, 2024 6,340,350 230,500 318,980 4,570,865 1,966,048 (746,043)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 270,067          
Other comprehensive income (loss) 146,435          
Common stock issued for merger, net 1,033,262          
Ending balance at Jun. 30, 2025 8,126,387 230,500 391,818 5,976,184 2,127,493 (599,608)
Beginning balance at Mar. 31, 2025 6,534,654 230,500 319,236 4,572,106 2,061,321 (648,509)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 125,408       125,408  
Other comprehensive income (loss) 48,901         48,901
Common stock issued for merger, net 1,033,262   50,183 983,079    
Cash dividends:            
Common (54,855)       (54,855)  
Preferred (4,033)       (4,033)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 256   13 243    
Forward sale agreements 443,236   21,905 421,331    
Common stock repurchased (7,957)   (379) (7,578)    
Share-based compensation expense 7,739     7,739    
Stock activity under incentive compensation plans (224)   860 (736) (348)  
Ending balance at Jun. 30, 2025 $ 8,126,387 $ 230,500 $ 391,818 $ 5,976,184 $ 2,127,493 $ (599,608)
v3.25.2
Consolidated Statements of Changes in Shareholders' Equity (unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]        
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.14 $ 0.14
Preferred dividends (in dollars per share) $ 17.50 $ 17.50 $ 17.50 $ 17.50
v3.25.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities    
Net income $ 270,067 $ 241,513
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 20,356 18,947
Amortization of other intangible assets 26,460 12,880
Amortization of tax credit investments 9,239 5,496
Net (discount accretion) premium amortization (48,688) (9,590)
Share-based compensation expense 22,150 14,553
Provision for credit losses 138,238 55,105
Debt securities (gains) losses, net 117 14
Net (gains) losses on sales of loans and other assets (7,282) (3,898)
Increase in cash surrender value of company-owned life insurance (12,006) (9,173)
Residential real estate loans originated for sale (545,592) (363,341)
Proceeds from sales of residential real estate loans 517,410 349,486
(Increase) decrease in interest receivable (24,949) (3,734)
(Increase) decrease in other assets (11,239) 17,335
Increase (decrease) in accrued expenses and other liabilities (173,188) (60,380)
Net cash flows provided by (used in) operating activities 181,093 265,213
Cash Flows From Investing Activities    
Cash received from merger, net 196,524 177,791
Purchases of investment securities available-for-sale (3,272,480) (939,533)
Purchases of Federal Home Loan Bank/Federal Reserve Bank stock (64,657) (8,559)
Purchases of equity securities (5,901) (4,782)
Proceeds from maturities, prepayments, and calls of investment securities available-for-sale 678,703 503,319
Proceeds from sales of investment securities available-for-sale 2,082,054 293,240
Proceeds from maturities, prepayments, and calls of investment securities held-to-maturity 34,859 34,076
Proceeds from sales of Federal Home Loan Bank/Federal Reserve Bank stock 68,977 14,426
Proceeds from sales of equity securities 3,292 2,417
Loan originations and payments, net (495,227) (1,063,661)
Proceeds from sales of commercial loans 95,298 45,881
Proceeds from company-owned life insurance death benefits 7,029 6,589
Proceeds from sales of premises and equipment and other assets 1,190 0
Purchases of premises and equipment and other assets (14,603) (17,847)
Net cash flows provided by (used in) investing activities (684,942) (956,643)
Net increase (decrease) in:    
Deposits 653,281 203,584
Federal funds purchased and interbank borrowings 339,861 249,764
Securities sold under agreements to repurchase (20,469) (44,493)
Other borrowings (8,808) 42,274
Payments for maturities of Federal Home Loan Bank advances (1,645,285) (1,300,000)
Proceeds from Federal Home Loan Bank advances 1,451,200 1,700,000
Cash dividends paid (107,575) (93,783)
Common stock repurchased (21,495) (8,458)
Common stock issued for ESPP 506 530
Common stock issued for forward sale agreements 443,236 0
Net cash flows provided by (used in) financing activities 1,084,452 749,418
Net increase (decrease) in cash and cash equivalents 580,603 57,988
Cash and cash equivalents at beginning of period 1,227,968 1,175,058
Cash and cash equivalents at end of period 1,808,571 1,233,046
Supplemental Cash Flow Information:    
Total interest paid 578,700 512,514
Total income taxes paid (net of refunds) 43,816 38,806
Noncash Investing and Financing Activities:    
Common stock issued for merger, net 1,033,262 417,598
Investment securities purchased but not settled 25,000 0
Operating lease right-of-use assets obtained in exchange for lease obligations 52,101 21,488
Finance lease right-of-use assets obtained in exchange for lease obligations $ 831 $ 15,178
v3.25.2
Basis of Presentation
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation BASIS OF PRESENTATION
The accompanying unaudited consolidated financial statements include the accounts of Old National Bancorp and its wholly owned subsidiaries (hereinafter collectively referred to as “Old National”) and have been prepared in conformity with accounting principles generally accepted in the United States of America and prevailing practices within the banking industry. Such principles require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosures of contingent assets and liabilities at the date of the financial statements and amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, the consolidated financial statements contain all the normal and recurring adjustments necessary for a fair statement of the financial position of Old National as of June 30, 2025 and December 31, 2024, and the results of its operations for the three and six months ended June 30, 2025 and 2024. Interim results do not necessarily represent annual results. Certain information and disclosures normally included in notes to consolidated annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted in this Quarterly Report on Form 10-Q pursuant to SEC rules and regulations. These financial statements should be read in conjunction with Old National’s Annual Report on Form 10-K for the year ended December 31, 2024.
All intercompany transactions and balances have been eliminated. Certain prior year amounts have been reclassified to conform to the current presentation. Such reclassifications had no effect on prior period net income or shareholders’ equity and were insignificant amounts.
v3.25.2
Recent Accounting Pronouncements
 6 Months Ended
Jun. 30, 2025
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements RECENT ACCOUNTING PRONOUNCEMENTS
Accounting Guidance Pending Adoption 
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740 – In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Among other things, these amendments require that public business entities on an annual basis disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income (loss) by the applicable statutory income tax rate). In addition, the ASU requires information pertaining to taxes paid (net of refunds received) to be disaggregated for federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts are equal to or greater than 5 percent of total income taxes paid (net of refunds received). The amendments in this ASU are effective for annual periods beginning after December 15, 2024. Old National does not expect the adoption of this guidance will have a material impact on the consolidated financial statements.
FASB ASC 220 – In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires public business entities to disclose specified information about certain costs and expenses in the notes to financial statements at each interim and annual reporting period. Specifically, public business entities will be required to disclose the amounts of (a) purchases of inventory; (b) employee compensation; (c) depreciation; (d) intangible asset amortization; and (e) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption. Within the same tabular disclosure, an entity must disclose certain expense, gain, or loss amounts that are already required under current GAAP. Further, an entity must disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. In addition, an entity must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in this ASU are effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
FASB ASC 470 – In November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This ASU clarifies requirements for determining whether certain settlements of convertible debt instruments, including convertible debt instruments
with cash conversion features or convertible debt instruments that are not currently convertible, should be accounted for as an induced conversion. The amendments in this ASU are effective for annual periods beginning after December 15, 2025, and interim periods within those annual reporting periods. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
FASB ASC 805 and 810 – In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity. The ASU revises the guidance in ASC 805 to clarify that, in determining the accounting acquirer in “a business combination that is effected primarily by exchanging equity interests in which a VIE is acquired,” an entity would be required to consider the factors in ASC 805-10-55-12 through 55-15. Previously, the accounting acquirer in such transactions was always the primary beneficiary. The amendments in this ASU are effective for annual periods beginning after December 15, 2026, including interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an interim or annual reporting period. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
FASB ASC 718 and 606 – In May 2025, the FASB issued ASU 2025-04, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer. The ASU is intended to reduce diversity in practice and improve existing guidance, primarily by revising the definition of a “performance condition” and eliminating a forfeiture policy election for service conditions associated with share-based consideration payable to a customer. In addition, the ASU clarifies that the guidance in ASC 606 on the variable consideration constraint does not apply to share-based consideration payable to a customer regardless of whether an award’s grant date has occurred (as determined under ASC 718). The amendments in this ASU are effective for fiscal years beginning after December 15, 2026, and interim periods within those fiscal years. Early adoption is permitted. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
v3.25.2
Acquisition and Divestiture Activity
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition and Divestiture Activity ACQUISITION AND DIVESTITURE ACTIVITY
Acquisitions
Bremer Financial Corporation
On May 1, 2025, Old National completed its acquisition of Bremer Financial Corporation (“Bremer”) and its wholly owned subsidiary, Bremer Bank, National Association. Pursuant to the terms of the merger agreement, each outstanding share of Bremer common stock was converted into the right to receive (i) $26.22 in cash without interest, (ii) 4.182 shares of Old National common stock and (iii) cash in lieu of fractional shares.
In addition, on November 25, 2024, Old National announced that it entered into a forward sale agreement with Citibank, N.A. (the “Forward Purchaser”) to issue 19,047,619 shares of Old National common stock for an aggregate offering amount of $400.0 million and entered into an underwriting agreement with Citigroup Global Markets Inc., as representative for the underwriters named therein (collectively, the “Underwriters”) and as forward seller (the “Forward Seller”), and the Forward Purchaser. The Underwriters were also granted a 30-day option to purchase up to an additional 2,857,143 shares of Old National common stock. On November 25, 2024, the Underwriters exercised this option in full, upon which Old National entered into an additional forward sale agreement to issue 2,857,143 shares of Old National common stock. Old National physically settled in full the forward sale agreements on May 23, 2025 by delivering 21,904,762 shares of Old National common stock to the Forward Purchaser. Old National received net proceeds from such sale of shares of Old National common stock and full physical settlement of the forward sale agreements of $443.2 million.
The assets acquired and liabilities assumed, both intangible and tangible, were recorded at their estimated fair values as of the merger date and have been accounted for under the acquisition method of accounting. The following table presents the preliminary valuation of the assets acquired and liabilities assumed and the fair value of consideration as of the merger date:
(dollars and shares in thousands)May 1,
2025
Assets
Cash and cash equivalents$511,157 
Equity securities26,070 
Investment securities2,811,133 
FHLB/Federal Reserve Bank stock93,924 
Loans held-for-sale9,883 
Loans, net of allowance for credit losses11,123,355 
Premises and equipment100,489 
Goodwill234,635 
Other intangible assets440,099 
Company-owned life insurance181,909 
Other assets770,925 
Total assets$16,303,579 
Liabilities
Deposits$12,880,842 
Securities sold under agreements to repurchase49,131 
Federal Home Loan Bank advances1,559,227 
Other borrowings193,279 
Accrued expenses and other liabilities273,205 
Total liabilities$14,955,684 
Fair value of consideration
Common stock (50,183 shares issued at $20.67 per share)
$1,033,262 
Cash314,633 
Total consideration$1,347,895 
Goodwill related to this merger will not be deductible for tax purposes.
Other intangible assets acquired included core deposit intangibles and customer relationship intangibles. The estimated fair value of the core deposit intangible was $397.1 million and is being amortized over an estimated useful life of 10 years. The estimated fair value of the customer relationship intangibles was $43.0 million and is being amortized over an estimated useful life of 12 years.
The fair value of purchased credit deteriorated (“PCD”) assets was $1.9 billion on the date of merger. The gross contractual amounts receivable relating to the PCD assets was $2.1 billion. Old National estimates, on the date of the merger, that $90.4 million of the contractual cash flows specific to the PCD assets will not be collected.
Merger-related costs associated with the Bremer acquisition have been expensed for the three and six months ended June 30, 2025 totaling $40.2 million and $40.9 million, respectively, and additional merger-related and integration costs will be expensed in future periods as incurred.
As a result of the acquisition, Old National assumed sponsorship of Bremer’s defined benefit pension plan under which both plan participation and benefit accruals were frozen subsequent to the acquisition. The net pension asset associated with Bremer’s defined benefit pension plan is recorded in other assets on the consolidated balance sheet. Pension costs were not material in the three and six months ended June 30, 2025.
The Company’s results of operations for the three and six months ended June 30, 2025 include the operating results of the acquired assets and assumed liabilities of Bremer subsequent to the acquisition on May 1, 2025. Due to the integration of certain Bremer systems and processes since the acquisition date, the Company has determined that it is impractical to report the amounts of revenue and income before income taxes of legacy Bremer subsequent to acquisition.
Summary of Unaudited Pro-Forma Financial Information
The following table presents supplemental unaudited pro-forma financial information as if the Bremer merger had occurred on January 1, 2024. The pro-forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effective as of this assumed date.
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Total revenues (1)
$694,351 $660,328 $1,363,086 $1,295,485 
Income before income taxes229,090 180,291 482,014 339,091 
(1)    Includes net interest income and total noninterest income.
Supplemental pro-forma earnings for the three months ended June 30, 2025 were adjusted to exclude $40.2 million of merger-related costs, $6.5 million of provision for credit losses on unfunded loan commitments, and $69.1 million of provision for credit losses to establish an allowance for credit losses on non-PCD loans acquired as well as a $21.0 million gain associated with the freezing of benefits of the Bremer pension plan. Supplemental pro-forma earnings for the three months ended June 30, 2024 were adjusted to include merger-related costs. Supplemental pro-forma earnings for the six months ended June 30, 2025 were adjusted to exclude $40.9 million of merger-related costs, $6.5 million of provision for credit losses on unfunded loan commitments, and $69.1 million of provision for credit losses to establish an allowance for credit losses on non-PCD loans acquired as well as a $21.0 million gain associated with the freezing of benefits of the Bremer pension plan. Supplemental pro-forma earnings for the six months ended June 30, 2024 were adjusted to include these costs.
CapStar Financial Holdings, Inc.
On April 1, 2024, Old National completed its acquisition of CapStar Financial Holdings, Inc. (“CapStar”) and its wholly owned subsidiary, CapStar Bank, in an all-stock transaction. This partnership strengthens Old National’s Nashville, Tennessee presence and adds several new high-growth markets.
As of March 31, 2025, Old National finalized its valuation of all assets acquired and liabilities assumed. The following table presents a summary of the assets acquired and liabilities assumed, net of the fair value adjustments and the fair value of consideration as of the merger date:
(dollars and shares in thousands)April 1,
2024
Assets
Cash and cash equivalents$177,791 
Investment securities342,490 
FHLB/Federal Reserve Bank stock14,426 
Loans held-for-sale21,159 
Loans, net of allowance for credit losses2,120,627 
Premises and equipment22,481 
Goodwill176,535 
Other intangible assets46,125 
Company-owned life insurance91,475 
Other assets95,922 
Total assets$3,109,031 
Liabilities
Deposits$2,560,124 
Federal Home Loan Bank advances75,000 
Other borrowings30,000 
Accrued expenses and other liabilities26,309 
Total liabilities$2,691,433 
Fair value of consideration
Common stock (24,014 shares issued at $17.41 per share)
$417,598 
Total consideration$417,598 
Goodwill related to this merger will not be deductible for tax purposes.
Other intangible assets acquired included core deposit intangibles. The estimated fair value of the core deposit intangible was $46.1 million and is being amortized over an estimated useful life of 10 years.
The fair value of PCD assets was $610.7 million on the date of merger. The gross contractual amounts receivable relating to the PCD assets was $679.3 million. Old National estimates, on the date of the merger, that $26.7 million of the contractual cash flows specific to the PCD assets will not be collected.
Merger-related costs primarily associated with the CapStar acquisition totaling $1.0 million and $1.3 million, respectively, have been expensed for the three and six months ended June 30, 2025 compared to $19.4 million and $22.3 million, respectively, for the three and six months ended June 30, 2024. Additional merger-related and integration costs will be expensed in future periods as incurred.
v3.25.2
Net Income Per Common Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income Per Common Share NET INCOME PER COMMON SHARE
Basic and diluted net income per common share are calculated using the two-class method. Net income applicable to common shares is divided by the weighted-average number of common shares outstanding during the period. Adjustments to the weighted-average number of common shares outstanding are made only when such adjustments will dilute net income per common share. Net income applicable to common shares is then divided by the weighted-average number of common shares and common share equivalents during the period.
The following table presents the calculation of basic and diluted net income per common share:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars and shares in thousands, except per share data)2025202420252024
Net income$125,408 $121,229 $270,067 $241,513 
Preferred dividends(4,033)(4,033)(8,067)(8,067)
Net income applicable to common shares$121,375 $117,196 $262,000 $233,446 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)360,155 315,585 338,162 303,283 
Effect of dilutive securities:
Restricted stock1,281 876 2,088 924 
Weighted average diluted shares outstanding361,436 316,461 340,250 304,207 
Basic Net Income Per Common Share$0.34 $0.37 $0.78 $0.77 
Diluted Net Income Per Common Share$0.34 $0.37 $0.77 $0.77 
v3.25.2
Investment Securities
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Investment Securities INVESTMENT SECURITIES
The following table summarizes the amortized cost and fair value of the available-for-sale portfolio and the corresponding amounts of gross unrealized gains, unrealized losses, and basis adjustments in accumulated other comprehensive income (loss) (“AOCI”).
(dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses
Basis
Adjustments (1)
Fair
Value
June 30, 2025    
Available-for-Sale    
U.S. Treasury$318,626 $86 $(11,823)$(45,597)$261,292 
U.S. government-sponsored entities and agencies1,567,522 244 (159,198)(60,789)1,347,779 
Mortgage-backed securities - Agency9,204,788 40,827 (554,873)— 8,690,742 
States and political subdivisions466,812 1,009 (28,517)2,576 441,880 
Pooled trust preferred securities13,813 — (2,494)— 11,319 
Other securities259,880 911 (8,607)— 252,184 
Total available-for-sale securities$11,831,441 $43,077 $(765,512)$(103,810)$11,005,196 
December 31, 2024
Available-for-Sale
U.S. Treasury$261,421 $67 $(12,659)$(49,816)$199,013 
U.S. government-sponsored entities and agencies1,521,610 7 (181,360)(82,351)1,257,906 
Mortgage-backed securities - Agency5,861,067 6,005 (662,181)— 5,204,891 
States and political subdivisions510,630 148 (25,881)647 485,544 
Pooled trust preferred securities13,807 — (2,485)— 11,322 
Other securities311,973 760 (12,950)— 299,783 
Total available-for-sale securities$8,480,508 $6,987 $(897,516)$(131,520)$7,458,459 
(1)    Basis adjustments represent the amount of fair value hedging adjustments included in the carrying amounts of fixed-rate investment securities assets designated in fair value hedging arrangements. See Note 15 to the consolidated financial statements for additional information regarding these derivative financial instruments.
The following table summarizes the amortized cost and fair value of the held-to-maturity investment securities portfolio and the corresponding amounts of gross unrecognized gains and losses.
(dollars in thousands)Amortized
Cost		Unrecognized
Gains		Unrecognized
Losses		Fair
Value
June 30, 2025   
Held-to-Maturity
U.S. government-sponsored entities and agencies$836,662 $— $(142,285)$694,377 
Mortgage-backed securities - Agency941,464 — (145,385)796,079 
States and political subdivisions1,148,392 7 (168,358)980,041 
Allowance for securities held-to-maturity(150)— — (150)
Total held-to-maturity securities$2,926,368 $7 $(456,028)$2,470,347 
December 31, 2024
Held-to-Maturity
U.S. government-sponsored entities and agencies$832,984 $— $(168,653)$664,331 
Mortgage-backed securities - Agency970,212 — (169,546)800,666 
States and political subdivisions1,151,835 317 (145,861)1,006,291 
Allowance for securities held-to-maturity(150)— — (150)
Total held-to-maturity securities$2,954,881 $317 $(484,060)$2,471,138 
Substantially all of the mortgage-backed securities in the investment portfolio are residential mortgage-backed securities.
Proceeds from sales or calls of available-for-sale investment securities and the resulting realized gains and realized losses were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Proceeds$2,092,486 $287,075 $2,163,445 $348,325 
Realized gains11 4 90 8 
Realized losses(52)(2)(207)(22)
The table below shows the amortized cost and fair value of the investment securities portfolio by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Weighted average yield is based on amortized cost.
 June 30, 2025
(dollars in thousands)Amortized
Cost		Fair
Value		Weighted
Average
Yield
Maturity
Available-for-Sale   
Within one year$291,158 $290,051 3.92 %
One to five years3,181,494 3,139,051 4.48 
Five to ten years7,175,378 6,646,934 3.80 
Beyond ten years1,183,411 929,160 2.65 
Total$11,831,441 $11,005,196 3.87 %
Held-to-Maturity
Within one year$18,232 $18,101 3.21 %
One to five years51,266 46,861 2.02 
Five to ten years1,344,104 1,167,923 2.57 
Beyond ten years1,512,766 1,237,462 2.75 
Total$2,926,368 $2,470,347 2.66 %
The following table summarizes the available-for-sale investment securities with unrealized losses for which an allowance for credit losses has not been recorded by aggregated major security type and length of time in a continuous unrealized loss position:
 Less than 12 months12 months or longerTotal
(dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized Losses
June 30, 2025
Available-for-Sale
U.S. Treasury$2,992 $(9)$180,172 $(11,814)$183,164 $(11,823)
U.S. government-sponsored entities
   and agencies		107,447 (796)1,158,392 (158,402)1,265,839 (159,198)
Mortgage-backed securities - Agency372,714 (2,174)3,309,123 (552,699)3,681,837 (554,873)
States and political subdivisions70,158 (720)258,259 (27,797)328,417 (28,517)
Pooled trust preferred securities— — 11,319 (2,494)11,319 (2,494)
Other securities26,361 (107)179,433 (8,500)205,794 (8,607)
Total available-for-sale$579,672 $(3,806)$5,096,698 $(761,706)$5,676,370 $(765,512)
December 31, 2024
Available-for-Sale
U.S. Treasury$3,977 $(26)$177,691 $(12,633)$181,668 $(12,659)
U.S. government-sponsored entities
   and agencies		98,280 (1,713)1,144,618 (179,647)1,242,898 (181,360)
Mortgage-backed securities - Agency857,440 (9,172)3,406,350 (653,009)4,263,790 (662,181)
States and political subdivisions133,906 (1,462)279,121 (24,419)413,027 (25,881)
Pooled trust preferred securities— — 11,322 (2,485)11,322 (2,485)
Other securities33,292 (295)199,631 (12,655)232,923 (12,950)
Total available-for-sale$1,126,895 $(12,668)$5,218,733 $(884,848)$6,345,628 $(897,516)
The following table summarizes the held-to-maturity investment securities with unrecognized losses aggregated by major security type and length of time in a continuous loss position:
 Less than 12 months12 months or longerTotal
(dollars in thousands)Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
June 30, 2025
Held-to-Maturity
U.S. government-sponsored entities
   and agencies		$— $— $694,377 $(142,285)$694,377 $(142,285)
Mortgage-backed securities - Agency— — 796,079 (145,385)796,079 (145,385)
States and political subdivisions63,800 (2,767)914,539 (165,591)978,339 (168,358)
Total held-to-maturity$63,800 $(2,767)$2,404,995 $(453,261)$2,468,795 $(456,028)
December 31, 2024
Held-to-Maturity
U.S. government-sponsored entities
   and agencies		$— $— $664,331 $(168,653)$664,331 $(168,653)
Mortgage-backed securities - Agency— — 800,666 (169,546)800,666 (169,546)
States and political subdivisions37,007 (430)937,364 (145,431)974,371 (145,861)
Total held-to-maturity$37,007 $(430)$2,402,361 $(483,630)$2,439,368 $(484,060)
The unrecognized losses on held-to-maturity investment securities presented in the table above do not include unrecognized losses on securities that were transferred from available-for-sale to held-to-maturity totaling $102.0 million at June 30, 2025 and $110.0 million at December 31, 2024. These unrecognized losses are included as a separate component of shareholders’ equity and are being amortized over the remaining term of the securities.
No allowance for credit losses on available-for-sale debt securities was needed at June 30, 2025 or December 31, 2024.
An allowance on held-to-maturity debt securities is maintained for certain municipal bonds to account for expected lifetime credit losses. Substantially all of the U.S. government-sponsored entities and agencies and agency mortgage-backed securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major credit rating agencies, and have a long history of no credit losses. Therefore, for those securities, we do not record expected credit losses. The allowance for credit losses on held-to-maturity debt securities was $0.2 million at June 30, 2025 and December 31, 2024. Accrued interest receivable on the securities portfolio is excluded from the estimate of credit losses and totaled $68.7 million at June 30, 2025 and $55.3 million at December 31, 2024.
At June 30, 2025, Old National’s securities portfolio consisted of 3,215 securities, 2,477 of which were in an unrealized loss position. The unrealized losses attributable to our U.S. Treasury, U.S. government-sponsored entities and agencies, agency mortgage-backed securities, states and political subdivisions, and other securities are the result of fluctuations in interest rates and market movements. Old National’s pooled trust preferred securities are evaluated using collateral-specific assumptions to estimate the expected future interest and principal cash flows. At June 30, 2025, we had no intent to sell any securities that were in an unrealized loss position nor is it expected that we would be required to sell the securities prior to their anticipated recovery.
Old National’s pooled trust preferred securities have experienced credit defaults. However, we believe that the value of the instruments lies in the full and timely interest payments that will be received through maturity, the steady amortization that will be experienced until maturity, and the full return of principal by the final maturity of the collateralized debt obligations. Old National did not recognize any losses on these securities for the six months ended June 30, 2025 or 2024.
Equity Securities
Equity securities consist of mutual funds for Community Reinvestment Act qualified investments and diversified investment securities held in a grantor trust for participants in the Company’s nonqualified deferred compensation plan. Old National’s equity securities with readily determinable fair values totaled $121.0 million at June 30, 2025 and $92.0 million at December 31, 2024. There were losses on equity securities of $0.6 million and $0.5 million during the three and six months ended June 30, 2025, respectively, compared to losses of $0.4 million and $0.1 million during the three and six months ended June 30, 2024, respectively.
Alternative Investments
Old National has alternative investments without readily determinable fair values that are included in other assets totaling $920.5 million at June 30, 2025 and $609.2 million at December 31, 2024. These investments consisted of $543.4 million of illiquid investments in partnerships, limited liability companies, and other ownership interests that support affordable housing and $377.0 million of economic development and community revitalization initiatives in low-to-moderate income neighborhoods at June 30, 2025, compared to $318.5 million and $290.7 million for the same investment types, respectively, at December 31, 2024. There have been no impairments or adjustments on alternative investments without readily determinable fair values, except for amortization of tax credit investments in the six months ended June 30, 2025 and 2024. See Note 9 to the consolidated financial statements for detail regarding these investments.
v3.25.2
Loans and Allowance for Credit Losses
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Loans and Allowance for Credit Losses LOANS AND ALLOWANCE FOR CREDIT LOSSES
Loans
Old National’s loans consist primarily of loans made to consumers and commercial clients in many diverse industries, including real estate rental and leasing, manufacturing, healthcare, wholesale trade, construction, and agriculture, among others. Most of Old National’s lending activity occurs within our principal geographic markets in the Midwest and Southeast regions of the United States. Old National manages concentrations of credit exposure by industry, product, geography, client relationship, and loan size.
Old National has loan participations, which qualify as participating interests, with other financial institutions. At June 30, 2025, these loans totaled $4.2 billion, of which $2.2 billion had been sold to other financial institutions and $2.0 billion was retained by Old National. The loan participations convey proportionate ownership rights with equal priority to each participating interest holder; involve no recourse (other than ordinary representations and warranties) to, or subordination by, any participating interest holder; all cash flows are divided among the participating interest holders in proportion to each holder’s share of ownership; and no holder has the right to pledge the entire financial asset unless all participating interest holders agree.
The loan categories used to monitor and analyze interest income and yields are different than the portfolio segments used to determine the allowance for credit losses on loans. The allowance for credit losses was calculated by pooling loans of similar credit risk characteristics and credit monitoring procedures. The four loan portfolios used to monitor and analyze interest income and yields – commercial, commercial real estate, residential real estate, and consumer – are reclassified into seven segments of loans – commercial, commercial real estate, business banking credit center (“BBCC”), residential real estate, indirect, direct, and home equity for purposes of determining the allowance for credit losses on loans. The commercial and commercial real estate loan categories shown on the balance sheet include the same pool of loans as the commercial, commercial real estate, and BBCC portfolio segments. The consumer loan category shown on the balance sheet is comprised of the same loans in the indirect, direct, and home equity portfolio segments. The portfolio segment reclassifications follow:
Balance Sheet
Line Item		Portfolio
Segment
Reclassifications		Portfolio
Segment After
Reclassifications
(dollars in thousands)
June 30, 2025
Commercial (1)
$14,662,916 $(218,095)$14,444,821 
Commercial real estate21,879,785 (175,181)21,704,604 
BBCCN/A393,276 393,276 
Residential real estate8,212,242 — 8,212,242 
Consumer3,147,876 (3,147,876)N/A
IndirectN/A1,073,024 1,073,024 
DirectN/A586,841 586,841 
Home equityN/A1,488,011 1,488,011 
Total loans (2)
$47,902,819 $— $47,902,819 
Allowance for credit losses on loans(565,109)— (565,109)
Net loans$47,337,710 $— $47,337,710 
December 31, 2024
Commercial (1)
$10,288,560 $(232,301)$10,056,259 
Commercial real estate16,307,486 (174,438)16,133,048 
BBCCN/A406,739 406,739 
Residential real estate6,797,586 — 6,797,586 
Consumer2,892,255 (2,892,255)N/A
IndirectN/A1,096,778 1,096,778 
DirectN/A514,144 514,144 
Home equityN/A1,281,333 1,281,333 
Total loans (2)
$36,285,887 $— $36,285,887 
Allowance for credit losses on loans(392,522)— (392,522)
Net loans$35,893,365 $— $35,893,365 
(1)Includes direct finance leases of $96.3 million at June 30, 2025 and $120.6 million at December 31, 2024.
(2)    Includes unamortized premiums and discounts, and unamortized deferred fees and costs of $634.4 million at June 30, 2025 and $163.3 million at December 31, 2024.
The risk characteristics of each loan portfolio segment are as follows:
Commercial
Commercial loans are classified primarily on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its clients.
Commercial Real Estate
Commercial real estate loans are classified primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these
loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing Old National’s commercial real estate portfolio are diverse in terms of type and geographic location. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner-occupied loans.
Included with commercial real estate are construction loans, which are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, financial analysis of the developers and property owners, and feasibility studies, if available. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders (including Old National), sales of developed property, or an interim loan commitment from Old National until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions, and the availability of long-term financing.
At 265%, Old National Bank’s applicable investor commercial real estate loans as a percentage of its Tier 1 capital plus the allowance for credit losses attributable to loans and leases remained below the regulatory guideline limit of 300% at June 30, 2025.
BBCC
BBCC loans are typically granted to small businesses with gross revenues of less than $5 million and aggregate debt of less than $1 million. Old National has established minimum debt service coverage ratios, minimum Fair Isaac Corporation (“FICO”) scores for owners and guarantors, and the ability to show relatively stable earnings as criteria to help mitigate risk. Repayment of these loans depends on the personal income of the borrowers and the cash flows of the business. These factors can be affected by such changes as economic conditions and unemployment levels.
Residential
With respect to residential loans that are secured by 1 - 4 family residences and are generally owner occupied, Old National typically establishes a maximum loan-to-value ratio and generally requires private mortgage insurance if that ratio is exceeded. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in residential property values. Portfolio risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers.
Indirect
Indirect loans are secured by automobile collateral, generally new and used cars and trucks from auto dealers that operate within our footprint. Old National typically mitigates the risk of indirect loans by establishing minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers and ongoing reviews of dealer relationships.
Direct
Direct loans are typically secured by collateral such as auto or real estate or are unsecured. Old National has established underwriting standards such as minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers.
Home Equity
Home equity loans are generally secured by 1-4 family residences that are owner-occupied. Old National has established underwriting standards such as minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which
can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers, along with monitoring of updated borrower credit scores.
Allowance for Credit Losses
Loans
Credit loss assumptions used when computing the level of expected credit losses are estimated using a model that categorizes loan pools based on loss history, delinquency status, and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. The base forecast scenario considers unemployment, gross domestic product, home price index, and the BBB ratio (BBB spread to the 10-year U.S. Treasury rate). In addition to the quantitative inputs, several qualitative factors are considered. These factors include the risk that macroeconomic forecasts of unemployment, gross domestic product, home price index, and the BBB ratio may prove to be more severe and/or prolonged than our baseline forecast due to a variety of considerations. Old National’s activity in the allowance for credit losses on loans 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 June 30, 2025  
Commercial$157,587 $30,492 $(16,805)$973 $43,670 $215,917 
Commercial real estate198,110 59,611 (9,438)123 45,897 294,303 
BBCC2,695 — (53)99 (253)2,488 
Residential real estate24,214 148 (247)150 7,585 31,850 
Indirect9,063 6 (1,766)905 222 8,430 
Direct2,053 47 (1,480)701 1,243 2,564 
Home equity8,210 138 (165)475 899 9,557 
Total$401,932 $90,442 $(29,954)$3,426 $99,263 $565,109 
Three Months Ended June 30, 2024
Commercial$123,437 $14,593 $(9,927)$462 $9,895 $138,460 
Commercial real estate160,640 8,483 (3,101)542 23,347 189,911 
BBCC3,163 — (935)230 439 2,897 
Residential real estate21,899 134 — 762 340 23,135 
Indirect1,218 — (1,084)335 764 1,233 
Direct2,952 59 (1,884)565 1,439 3,131 
Home equity6,404 653 (110)100 521 7,568 
Total$319,713 $23,922 $(17,041)$2,996 $36,745 $366,335 
Six Months Ended June 30, 2025
Commercial$148,722 $30,492 $(26,116)$2,253 $60,566 $215,917 
Commercial real estate200,309 59,611 (21,098)393 55,088 294,303 
BBCC2,813 — (57)399 (667)2,488 
Residential real estate22,922 148 (277)238 8,819 31,850 
Indirect8,434 6 (3,700)1,344 2,346 8,430 
Direct2,304 47 (3,081)1,213 2,081 2,564 
Home equity7,018 138 (165)510 2,056 9,557 
Total$392,522 $90,442 $(54,494)$6,350 $130,289 $565,109 
Six Months Ended June 30, 2024
Commercial$118,333 $14,593 $(13,586)$796 $18,324 $138,460 
Commercial real estate155,099 8,483 (9,742)1,577 34,494 189,911 
BBCC2,887 — (1,011)248 773 2,897 
Residential real estate20,837 134 — 781 1,383 23,135 
Indirect1,236 — (2,222)667 1,552 1,233 
Direct3,169 59 (4,312)1,052 3,163 3,131 
Home equity6,049 653 (188)145 909 7,568 
Total$307,610 $23,922 $(31,061)$5,266 $60,598 $366,335 
The allowance for credit losses on loans at June 30, 2025 included $90.4 million of allowance for credit losses on acquired PCD loans established through acquisition accounting adjustments on or after the Bremer acquisition date. In addition, the provision for credit losses on loans in the three and six months ended June 30, 2025 included $69.1 million to establish an allowance for credit losses on non-PCD Bremer loans acquired. The allowance for credit losses on loans at June 30, 2024 included $23.9 million of allowance for credit losses on acquired PCD loans established through acquisition accounting adjustments on or after the CapStar acquisition date. In addition, the provision for credit losses on loans in the three and six months ended June 30, 2024 included $15.3 million to establish an allowance for credit losses on non-PCD CapStar loans acquired. Accrued interest receivable on loans is excluded from the estimate of credit losses and totaled $193.4 million at June 30, 2025, compared to $171.6 million at December 31, 2024.
Unfunded Loan Commitments
Old National maintains an allowance for credit losses on unfunded loan commitments to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses on loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the balance sheet within accrued expenses and other liabilities, while the corresponding provision for unfunded loan commitments is included in the provision for credit losses. Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Allowance for credit losses on unfunded loan commitments: 
Balance at beginning of period$22,031 $26,264 $21,654 $31,226 
Provision for credit losses on unfunded loan commitments
   acquired during the period		6,458 1,763 6,458 1,763 
Provision (release) for credit losses on unfunded loan
   commitments		1,114 (2,294)1,491 (7,256)
Balance at end of period$29,603 $25,733 $29,603 $25,733 
Credit Quality
Old National’s management monitors the credit quality of its loans on an ongoing basis with the asset quality rating (“AQR”) for commercial, commercial real estate, and BBCC loans reviewed annually or at renewal and the performance of its residential and consumer loans based upon the accrual status refreshed at least quarterly. Internally, management assigns an AQR to each non-homogeneous commercial, commercial real estate, and BBCC loan in the portfolio. The primary determinants of the AQR are the reliability of the primary source of repayment and the past, present, and projected financial condition of the borrower. The AQR will also consider current industry conditions. Major factors used in determining the AQR can vary based on the nature of the loan, but commonly include factors such as debt service coverage, internal cash flow, liquidity, leverage, operating performance, debt burden, FICO scores, occupancy, interest rate sensitivity, and expense burden. Old National uses the following definitions for risk ratings:
Special Mention. Loans categorized as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of Old National’s credit position at some future date.
Classified – Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that Old National will sustain some loss if the deficiencies are not corrected.
Classified – Nonaccrual. Loans classified as nonaccrual have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection in full, on the basis of currently existing facts, conditions, and values, in doubt.
Classified – Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as nonaccrual, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
Pass rated loans are those loans that are other than special mention, classified – substandard, classified – nonaccrual, or classified – doubtful.
The following table summarizes the amortized cost of term loans by risk category of commercial, commercial real estate, and BBCC loans by loan portfolio segment, class of loan, and origination year:
(dollars in thousands)Origination YearRevolving to Term
20252024202320222021PriorRevolvingTotal
June 30, 2025
Commercial:
Pass$1,305,740 $2,173,224 $1,400,313 $1,254,431 $833,070 $1,746,219 $3,796,721 $641,312 $13,151,030 
Special Mention4,117 54,285 101,152 39,978 9,368 40,046 145,198 26,793 420,937 
Classified:
Substandard7,268 33,353 111,274 86,661 71,764 111,648 188,832 53,383 664,183 
Nonaccrual7 1,829 9,674 21,521 3,220 9,571 4,400 4,368 54,590 
Doubtful408 6,378 19,972 36,567 2,197 10,569 20,370 57,620 154,081 
Total$1,317,540 $2,269,069 $1,642,385 $1,439,158 $919,619 $1,918,053 $4,155,521 $783,476 $14,444,821 
Commercial real estate:
Pass$1,297,803 $2,333,656 $2,993,887 $3,787,067 $2,240,728 $5,790,999 $200,024 $889,312 $19,533,476 
Special Mention4,361 33,943 43,107 200,210 162,745 108,328 2,909 24,213 579,816 
Classified:
Substandard1,153 12,591 126,234 422,703 177,428 441,460 39,748 77,330 1,298,647 
Nonaccrual— 3,020 3,036 39,549 28,337 33,654 — 24,262 131,858 
Doubtful— — 7,806 12,585 18,332 89,564 — 32,520 160,807 
Total$1,303,317 $2,383,210 $3,174,070 $4,462,114 $2,627,570 $6,464,005 $242,681 $1,047,637 $21,704,604 
BBCC:
Pass$25,569 $57,920 $59,656 $40,620 $24,128 $85,692 $63,751 $17,712 $375,048 
Special Mention— 578 500 523 274 2,406 1,522 2,160 7,963 
Classified:
Substandard95 415 1,014 35 68 476 132 4,196 6,431 
Nonaccrual— — 33 68 270 517 — 324 1,212 
Doubtful— — 386 253 149 1,085 — 749 2,622 
Total$25,664 $58,913 $61,589 $41,499 $24,889 $90,176 $65,405 $25,141 $393,276 
Origination YearRevolving to Term
20242023202220212020PriorRevolvingTotal
December 31, 2024
Commercial:
Pass$1,852,046 $1,267,721 $1,145,488 $699,429 $450,332 $624,522 $2,577,941 $593,232 $9,210,711 
Special Mention46,935 102,372 32,250 40,221 21,538 20,535 80,625 28,978 373,454 
Classified:
Substandard27,139 49,340 77,835 35,036 19,307 25,503 78,210 40,217 352,587 
Nonaccrual2,221 1,072 4,199 1,530 604 1,357 719 829 12,531 
Doubtful3,419 20,145 27,016 1,774 5,451 1,494 15,405 32,272 106,976 
Total$1,931,760 $1,440,650 $1,286,788 $777,990 $497,232 $673,411 $2,752,900 $695,528 $10,056,259 
Commercial real estate:
Pass$2,196,306 $2,555,236 $3,825,305 $2,065,037 $1,362,703 $1,641,611 $122,708 $891,682 $14,660,588 
Special Mention72,020 31,203 158,254 48,524 37,693 64,357 — 111,900 523,951 
Classified:
Substandard47,079 55,923 249,269 102,913 39,466 142,110 996 76,897 714,653 
Nonaccrual3,693 411 3,579 15,922 1,930 3,231 — 118 28,884 
Doubtful7,787 9,689 16,501 37,455 22,817 59,879 — 50,844 204,972 
Total$2,326,885 $2,652,462 $4,252,908 $2,269,851 $1,464,609 $1,911,188 $123,704 $1,131,441 $16,133,048 
BBCC:
Pass$79,760 $78,420 $55,687 $33,857 $30,215 $22,797 $67,668 $16,265 $384,669 
Special Mention1,579 1,067 807 917 21 224 3,582 3,028 11,225 
Classified:
Substandard468 976 56 136 598 308 755 2,876 6,173 
Nonaccrual— 114 312 177 63 119 — 551 1,336 
Doubtful— 397 841 350 15 845 — 888 3,336 
Total$81,807 $80,974 $57,703 $35,437 $30,912 $24,293 $72,005 $23,608 $406,739 
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)20252024202320222021PriorRevolvingTotal
June 30, 2025
Residential real estate:
Risk Rating:
Performing$322,748 $609,589 $659,834 $1,777,593 $2,108,457 $2,672,799 $— $258 $8,151,278 
Nonperforming225 1,988 7,728 14,049 6,244 30,730 — — 60,964 
Total$322,973 $611,577 $667,562 $1,791,642 $2,114,701 $2,703,529 $— $258 $8,212,242 
Indirect:
Risk Rating:
Performing$211,857 $370,286 $221,363 $171,636 $64,620 $28,802 $— $— $1,068,564 
Nonperforming28 630 1,306 1,165 933 398 — — 4,460 
Total$211,885 $370,916 $222,669 $172,801 $65,553 $29,200 $— $— $1,073,024 
Direct:
Risk Rating:
Performing$36,359 $77,720 $60,193 $57,844 $53,698 $140,154 $149,619 $4,876 $580,463 
Nonperforming— 363 762 535 414 3,713 10 581 6,378 
Total$36,359 $78,083 $60,955 $58,379 $54,112 $143,867 $149,629 $5,457 $586,841 
Home equity:
Risk Rating:
Performing$4,181 $32 $251 $1,112 $579 $17,328 $1,400,491 $46,300 $1,470,274 
Nonperforming40 19 53 959 95 3,988 1,002 11,581 17,737 
Total$4,221 $51 $304 $2,071 $674 $21,316 $1,401,493 $57,881 $1,488,011 
Origination YearRevolving to Term
20242023202220212020PriorRevolvingTotal
December 31, 2024
Residential real estate:
Risk Rating:
Performing$509,704 $476,698 $1,455,085 $1,662,195 $1,574,961 $1,058,175 $43 $271 $6,737,132 
Nonperforming480 5,060 11,210 6,298 5,208 32,198 — — 60,454 
Total$510,184 $481,758 $1,466,295 $1,668,493 $1,580,169 $1,090,373 $43 $271 $6,797,586 
Indirect:
Risk Rating:
Performing$438,835 $279,910 $227,691 $92,223 $37,937 $14,810 $— $— $1,091,406 
Nonperforming714 1,147 1,498 1,378 373 262 — — 5,372 
Total$439,549 $281,057 $229,189 $93,601 $38,310 $15,072 $— $— $1,096,778 
Direct:
Risk Rating:
Performing$83,773 $72,838 $66,563 $61,317 $34,159 $80,188 $108,572 $3,327 $510,737 
Nonperforming96 313 365 352 468 1,730 1 82 3,407 
Total$83,869 $73,151 $66,928 $61,669 $34,627 $81,918 $108,573 $3,409 $514,144 
Home equity:
Risk Rating:
Performing$— $— $259 $210 $1,135 $11,005 $1,216,226 $31,787 $1,260,622 
Nonperforming— — 1,278 91 209 4,920 2,594 11,619 20,711 
Total$— $— $1,537 $301 $1,344 $15,925 $1,218,820 $43,406 $1,281,333 
The following table summarizes the gross charge-offs of loans by loan portfolio segment and origination year:
Origination Year
(dollars in thousands)20252024202320222021PriorRevolvingTotal
Three Months Ended June 30, 2025
Commercial$— $6,459 $676 $6,970 $583 $2,117 $— $16,805 
Commercial real estate— — — 1,205 4,000 4,233 — 9,438 
BBCC— — 13 31 9 — — 53 
Residential real estate— — — — — 247 — 247 
Indirect12 631 557 317 193 56 — 1,766 
Direct171 205 223 300 304 251 26 1,480 
Home equity— — — — — 165 — 165 
Total gross charge-offs$183 $7,295 $1,469 $8,823 $5,089 $7,069 $26 $29,954 
Origination Year
20242023202220212020PriorRevolvingTotal
Three Months Ended June 30, 2024
Commercial$— $2,358 $6,149 $389 $43 $566 $422 $9,927 
Commercial real estate— — 23 468 — 2,610 — 3,101 
BBCC— 605 153 35 112 30 — 935 
Residential real estate— — — — — — — — 
Indirect54 531 377 96 6 20 — 1,084 
Direct75 79 394 347 173 172 644 1,884 
Home equity— — — — — 110 — 110 
Total gross charge-offs$129 $3,573 $7,096 $1,335 $334 $3,508 $1,066 $17,041 
Origination Year
20252024202320222021PriorRevolvingTotal
Six Months Ended June 30, 2025
Commercial$— $6,881 $4,795 $11,056 $589 $2,795 $— $26,116 
Commercial real estate— — 303 1,956 11,996 6,843 — 21,098 
BBCC— — 13 31 13 — — 57 
Residential real estate— — — — — 277 — 277 
Indirect12 1,330 1,234 704 293 127 — 3,700 
Direct214 335 333 743 842 588 26 3,081 
Home equity— — — — — 165 — 165 
Total gross charge-offs$226 $8,546 $6,678 $14,490 $13,733 $10,795 $26 $54,494 
Origination Year
20242023202220212020PriorRevolvingTotal
Six Months Ended June 30, 2024
Commercial$— $2,358 $9,630 $422 $51 $570 $555 $13,586 
Commercial real estate— — 23 2,644 — 7,075 — 9,742 
BBCC— 605 229 35 112 30 — 1,011 
Residential real estate— — — — — — — — 
Indirect54 901 849 321 39 58 — 2,222 
Direct75 195 970 876 286 395 1,515 4,312 
Home equity— — — 34 — 154 — 188 
Total gross charge-offs$129 $4,059 $11,701 $4,332 $488 $8,282 $2,070 $31,061 
Nonaccrual and Past Due Loans
Old National does not record interest on nonaccrual loans until principal is recovered. For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in the process of collection, or earlier when concern exists as to the ultimate collectability of principal or interest. Interest accrued but not received is reversed against earnings. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans may
be returned to accrual status when all the principal and interest amounts contractually due are brought current, remain current for a prescribed period, and future payments are reasonably assured.
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
June 30, 2025
Commercial$26,962 $18,401 $62,918 $108,281 $14,336,540 $14,444,821 
Commercial real estate47,550 16,438 113,743 177,731 21,526,873 21,704,604 
BBCC2,173 230 2,393 4,796 388,480 393,276 
Residential33,354 14,188 37,414 84,956 8,127,286 8,212,242 
Indirect7,088 2,166 906 10,160 1,062,864 1,073,024 
Direct1,524 1,346 2,502 5,372 581,469 586,841 
Home equity6,053 4,133 7,167 17,353 1,470,658 1,488,011 
Total$124,704 $56,902 $227,043 $408,649 $47,494,170 $47,902,819 
December 31, 2024
Commercial$5,970 $12,021 $47,257 $65,248 $9,991,011 $10,056,259 
Commercial real estate19,240 12,728 60,145 92,113 16,040,935 16,133,048 
BBCC1,227 861 1,430 3,518 403,221 406,739 
Residential49,331 12,085 26,698 88,114 6,709,472 6,797,586 
Indirect9,700 2,675 1,463 13,838 1,082,940 1,096,778 
Direct2,004 970 1,470 4,444 509,700 514,144 
Home equity4,765 3,399 7,567 15,731 1,265,602 1,281,333 
Total$92,237 $44,739 $146,030 $283,006 $36,002,881 $36,285,887 
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:
June 30, 2025December 31, 2024
(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$208,671 $15,375 $3,680 $119,507 $30,551 $861 
Commercial real estate292,665 73,828 12,709 233,856 64,453 3,126 
BBCC3,834 — — 4,672 — — 
Residential60,964 — 225 60,454 — — 
Indirect4,460 — 233 5,372 — — 
Direct6,378 — 46 3,407 — — 
Home equity17,737 — — 20,711 — 73 
Total$594,709 $89,203 $16,893 $447,979 $95,004 $4,060 
Interest income recognized on nonaccrual loans was insignificant during the three and six months ended June 30, 2025 and 2024.
When management determines that foreclosure is probable, expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. A loan is considered collateral dependent when the borrower is experiencing financial difficulty, and the loan is expected to be repaid substantially through the operation or sale of the collateral. The class of loan represents the primary collateral type associated with the loan. Significant quarter-over-quarter changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraisal value. 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
June 30, 2025
Commercial$22,397 $142,003 $9,707 $6,286 $4,340 
Commercial real estate283,893 4,409 1,464 — 123 
BBCC2,389 694 310 196 — 
Residential60,964 — — — — 
Indirect— — — 4,460 — 
Direct4,761 20 4 319 22 
Home equity17,737 — — — — 
Total loans$392,141 $147,126 $11,485 $11,261 $4,485 
December 31, 2024
Commercial$17,520 $68,985 $6,980 $6,544 $5,215 
Commercial real estate228,952 542 1,046 — — 
BBCC3,201 1,137 86 248 — 
Residential60,454 — — — — 
Indirect— — — 5,372 — 
Direct2,623 16 23 396 34 
Home equity20,711 — — — — 
Total loans$333,461 $70,680 $8,135 $12,560 $5,249 
Financial Difficulty Modifications
Occasionally, Old National modifies loans to borrowers experiencing financial difficulty in the form of principal forgiveness, term extension, an other-than-insignificant payment delay, or interest rate reduction (or a combination thereof). When principal forgiveness is provided, the amount forgiven is charged-off against the allowance for credit losses on loans.
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		Total
Class of
Loans
Three Months Ended June 30, 2025
Commercial$39,797 0.3 %
Commercial real estate44,835 0.2 %
Total$84,632 0.2 %
Three Months Ended June 30, 2024
Commercial$3,859 0.0 %
Commercial real estate58,232 0.4 %
Total$62,091 0.2 %
Six Months Ended June 30, 2025
Commercial$94,248 0.7 %
Commercial real estate146,609 0.7 %
Total$240,857 0.5 %
Six Months Ended June 30, 2024
Commercial$14,867 0.1 %
Commercial real estate73,406 0.5 %
Total$88,273 0.2 %
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
June 30, 2025
Commercial$1,468 $2,449 $4,511 $8,428 $85,820 $94,248 
Commercial real estate6,311 — 4,566 10,877 135,732 146,609 
Total$7,779 $2,449 $9,077 $19,305 $221,552 $240,857 
June 30, 2024
Commercial$1,077 $2,813 $980 $4,870 $14,866 $19,736 
Commercial real estate8,854 5,077 27,017 40,948 72,083 113,031 
Total$9,931 $7,890 $27,997 $45,818 $86,949 $132,767 
The following table summarizes the nature of the financial difficulty modifications by class of loans:
(dollars in thousands)Weighted-
Average
Term
Extension
(in months)
Three Months Ended June 30, 2025
Commercial6.5
Commercial real estate9.8
Total8.2
Three Months Ended June 30, 2024
Commercial10.0
Commercial real estate10.6
Total10.6
Six Months Ended June 30, 2025
Commercial7.1
Commercial real estate8.4
Total7.9
Six Months Ended June 30, 2024
Commercial9.9
Commercial real estate9.2
Total9.3
There were payment defaults on $4.6 million and $9.1 million of loans during the three and six months ended June 30, 2025, respectively, to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on loans. There were payment defaults on $27.0 million of loans during the three and six months ended June 30, 2024 to borrowers whose loans had been modified within the previous twelve months.
Old National had not committed to lend any material additional funds to the borrowers whose loans were modified due to financial difficulties at June 30, 2025 or December 31, 2024.
Purchased Credit Deteriorated Loans
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)
CapStar (2)
Purchase price of loans at acquisition$1,889,330 $610,691 
Allowance for credit losses at acquisition90,442 26,725 
Non-credit discount at acquisition75,817 41,886 
Par value of acquired loans at acquisition$2,055,589 $679,302 
(1)Old National acquired Bremer effective May 1, 2025.
(2)Old National acquired CapStar effective April 1, 2024.
v3.25.2
Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases LEASES
Old National has operating and finance leases for land, office space, banking centers, and equipment. These leases are generally for periods of 5 to 30 years with various renewal options. We include certain renewal options in the measurement of our right-of-use assets and lease liabilities if they are reasonably certain to be exercised. Variable lease payments that are dependent on an index or a rate are initially measured using the index or rate at the commencement date and are included in the measurement of the lease liability. Variable lease payments that are not dependent on an index or a rate are excluded from the measurement of the lease liability and are recognized in profit and loss when incurred. Variable lease payments are defined as payments made for the right to use an asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time.
Old National has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components and other non-components, such as common area maintenance charges, real estate taxes, and insurance are not included in the measurement of the lease liability since they are generally able to be segregated. For certain equipment leases, Old National accounts for the lease and non-lease components as a single lease component using the practical expedient available for that class of assets. Old National does not have any material sub-lease agreements.
The components of lease expense were as follows:
Affected Line
Item in the
Statement of Income		Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Operating lease costOccupancy/Equipment expense$8,960 $8,268 $17,159 $16,094 
Finance lease cost: 
Amortization of right-of-use assetsOccupancy expense2,276 1,488 4,546 2,239 
Interest on lease liabilitiesInterest expense212 253 441 434 
Sub-lease incomeOccupancy expense(106)(123)(189)(248)
Total $11,342 $9,886 $21,957 $18,519 
Supplemental balance sheet information related to leases was as follows:
(dollars in thousands)June 30,
2025		December 31,
2024
Operating Leases 
Operating lease right-of-use assets$219,655 $181,920 
Operating lease liabilities237,610 200,068 
Finance Leases
Premises and equipment, net19,489 23,205 
Other borrowings21,207 24,822 
Weighted-Average Remaining Lease Term (in Years)
Operating leases9.07.8
Finance leases8.87.8
Weighted-Average Discount Rate
Operating leases3.69 %3.14 %
Finance leases4.04 %3.96 %
Supplemental cash flow information related to leases was as follows:
Six Months Ended
June 30,
(dollars in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities: 
Operating cash flows from operating leases$18,019 $16,439 
Operating cash flows from finance leases441 434 
Financing cash flows from finance leases4,446 2,020 
The following table presents a maturity analysis of the Company’s lease liability by lease classification at June 30, 2025:
(dollars in thousands)Operating
Leases		Finance
Leases
2025$19,579 $4,350 
202638,797 2,619 
202737,232 2,656 
202833,242 2,339 
202930,649 1,498 
Thereafter122,718 11,979 
Total undiscounted lease payments282,217 25,441 
Amounts representing interest(44,607)(4,234)
Lease liability$237,610 $21,207 
Leases LEASES
Old National has operating and finance leases for land, office space, banking centers, and equipment. These leases are generally for periods of 5 to 30 years with various renewal options. We include certain renewal options in the measurement of our right-of-use assets and lease liabilities if they are reasonably certain to be exercised. Variable lease payments that are dependent on an index or a rate are initially measured using the index or rate at the commencement date and are included in the measurement of the lease liability. Variable lease payments that are not dependent on an index or a rate are excluded from the measurement of the lease liability and are recognized in profit and loss when incurred. Variable lease payments are defined as payments made for the right to use an asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time.
Old National has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components and other non-components, such as common area maintenance charges, real estate taxes, and insurance are not included in the measurement of the lease liability since they are generally able to be segregated. For certain equipment leases, Old National accounts for the lease and non-lease components as a single lease component using the practical expedient available for that class of assets. Old National does not have any material sub-lease agreements.
The components of lease expense were as follows:
Affected Line
Item in the
Statement of Income		Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Operating lease costOccupancy/Equipment expense$8,960 $8,268 $17,159 $16,094 
Finance lease cost: 
Amortization of right-of-use assetsOccupancy expense2,276 1,488 4,546 2,239 
Interest on lease liabilitiesInterest expense212 253 441 434 
Sub-lease incomeOccupancy expense(106)(123)(189)(248)
Total $11,342 $9,886 $21,957 $18,519 
Supplemental balance sheet information related to leases was as follows:
(dollars in thousands)June 30,
2025		December 31,
2024
Operating Leases 
Operating lease right-of-use assets$219,655 $181,920 
Operating lease liabilities237,610 200,068 
Finance Leases
Premises and equipment, net19,489 23,205 
Other borrowings21,207 24,822 
Weighted-Average Remaining Lease Term (in Years)
Operating leases9.07.8
Finance leases8.87.8
Weighted-Average Discount Rate
Operating leases3.69 %3.14 %
Finance leases4.04 %3.96 %
Supplemental cash flow information related to leases was as follows:
Six Months Ended
June 30,
(dollars in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities: 
Operating cash flows from operating leases$18,019 $16,439 
Operating cash flows from finance leases441 434 
Financing cash flows from finance leases4,446 2,020 
The following table presents a maturity analysis of the Company’s lease liability by lease classification at June 30, 2025:
(dollars in thousands)Operating
Leases		Finance
Leases
2025$19,579 $4,350 
202638,797 2,619 
202737,232 2,656 
202833,242 2,339 
202930,649 1,498 
Thereafter122,718 11,979 
Total undiscounted lease payments282,217 25,441 
Amounts representing interest(44,607)(4,234)
Lease liability$237,610 $21,207 
v3.25.2
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
The following table presents the changes in the carrying amount of goodwill:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Balance at beginning of period$2,175,251 $1,998,716 $2,175,251 $1,998,716 
Acquisitions and adjustments234,635 171,993 234,635 171,993 
Balance at end of period$2,409,886 $2,170,709 $2,409,886 $2,170,709 
During the three months ended June 30, 2025, Old National recorded $234.6 million of goodwill associated with the acquisition of Bremer. During the three months ended June 30, 2024, Old National recorded $172.0 million of goodwill associated with the acquisition of CapStar. See Note 3 to the consolidated financial statements for additional detail regarding these transactions.
Old National performed the required annual goodwill impairment test as of August 31, 2024 and there was no impairment. No events or circumstances since the August 31, 2024 annual impairment test were noted that would indicate it was more likely than not a goodwill impairment exists.
The gross carrying amounts and accumulated amortization of other intangible assets were as follows: 
(dollars in thousands)Gross
Carrying
Amount		Accumulated
Amortization
and Impairment		Net
Carrying
Amount
June 30, 2025   
Core deposit$586,735 $(119,268)$467,467 
Customer relationship93,892 (26,873)67,019 
Total other intangible assets$680,627 $(146,141)$534,486 
December 31, 2024
Core deposit$189,636 $(95,950)$93,686 
Customer relationship50,892 (23,731)27,161 
Total other intangible assets$240,528 $(119,681)$120,847 
Other intangible assets consist of core deposit intangibles and customer relationship intangibles and are being amortized primarily on an accelerated basis over their estimated useful lives, generally over a period of 5 to 15 years. During the three months ended June 30, 2025, Old National recorded $397.1 million of core deposit intangibles and $43.0 million of customer relationship intangibles associated with the acquisition of Bremer. See Note 3 to the consolidated financial statements for additional detail regarding this transaction.
Old National reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. No impairment charges were recorded during the six months ended June 30, 2025 or 2024. Total amortization expense associated with intangible assets was $19.6 million and $26.5 million for the three and six months ended June 30, 2025, respectively, compared to $7.4 million and $12.9 million for the three and six months ended June 30, 2024, respectively.
Estimated amortization expense for future years is as follows:
(dollars in thousands) 
2025 remaining$52,200 
202696,109 
202784,810 
202873,689 
202962,983 
Thereafter164,695 
Total$534,486 
v3.25.2
Qualified Affordable Housing Projects and Other Tax Credit Investments
 6 Months Ended
Jun. 30, 2025
Securities Sold under Agreements to Repurchase [Abstract]  
Qualified Affordable Housing Projects and Other Tax Credit Investments QUALIFIED AFFORDABLE HOUSING PROJECTS AND OTHER TAX CREDIT INVESTMENTS
Old National is a limited partner in several tax-advantaged limited partnerships whose purpose is to invest in approved qualified affordable housing, renewable energy, or other renovation or community revitalization projects. These investments are included in other assets on the balance sheet, with any unfunded commitments included with other liabilities. As of June 30, 2025, Old National expects to recover its remaining investments through the use of the tax credits that are generated by the investments.
The following table summarizes Old National’s investments in qualified affordable housing projects and other tax credit investments:
(dollars in thousands) June 30, 2025December 31, 2024
InvestmentAccounting MethodInvestment
Unfunded
Commitment (1)
InvestmentUnfunded
Commitment
Low Income Housing Tax Credit (“LIHTC”)Proportional amortization$234,674 $130,855 $199,350 $115,345 
Federal Historic Tax Credit (“FHTC”)Proportional amortization28,224 21,228 30,835 24,869 
New Markets Tax Credit (“NMTC”)Consolidation114,142 — 60,462 — 
Renewable EnergyEquity4 — 4 — 
Total $377,044 $152,083 $290,651 $140,214 
(1)All commitments will be paid by Old National by December 31, 2040.
The following table summarizes the amortization expense and tax benefit recognized for Old National’s qualified affordable housing projects and other tax credit investments:
(dollars in thousands)
Amortization
Expense (1)
Tax Expense
(Benefit)
Recognized (2)
Three Months Ended June 30, 2025  
LIHTC$3,205 $(4,516)
FHTC614 (723)
NMTC5,815 (7,049)
Total$9,634 $(12,288)
Three Months Ended June 30, 2024
LIHTC$2,780 $(3,743)
FHTC728 (690)
NMTC2,546 (3,175)
Renewable Energy11 — 
Total$6,065 $(7,608)
Six Months Ended June 30, 2025
LIHTC$6,409 $(8,815)
FHTC1,169 (1,418)
NMTC9,239 (11,309)
Total$16,817 $(21,542)
Six Months Ended June 30, 2024
LIHTC$5,265 $(7,074)
FHTC1,262 (1,353)
NMTC5,092 (6,350)
Renewable Energy197 — 
Total$11,816 $(14,777)
(1)The amortization expense for the LIHTC and FHTC investments is included in our income tax expense. NMTC amortization is recognized in noninterest expense in correlation to the recognition of tax credits on our tax return. Amortization expense for the Renewable Energy tax credits is included in noninterest expense.
(2)All of the tax benefits recognized are included in our income tax expense. The tax benefit recognized for the NMTC investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).
v3.25.2
Securities Sold Under Agreements to Repurchase
 6 Months Ended
Jun. 30, 2025
Securities Sold under Agreements to Repurchase [Abstract]  
Securities Sold Under Agreements to Repurchase SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Securities sold under agreements to repurchase are secured borrowings. Old National pledges investment securities to secure these borrowings. The following table presents securities sold under agreements to repurchase and related weighted-average interest rates:
At or for the Six Months
Ended June 30,
(dollars in thousands)20252024
Outstanding at period end$297,637 $240,713 
Average amount outstanding during the period284,518 273,088 
Maximum amount outstanding at any month-end during the period311,335 319,423 
Weighted-average interest rate:
During the period0.84 %1.15 %
At period end0.91 %3.41 %
At December 31, 2024, securities sold under agreements to repurchase totaled $269.0 million with a weighted-average interest rate of 0.86%.
The following table presents the contractual maturity of our secured borrowings and class of collateral pledged:
 At June 30, 2025
 Remaining Contractual Maturity of the Agreements
(dollars in thousands)Overnight and ContinuousUp to
30 Days		 30-90 DaysGreater Than 90 daysTotal
Repurchase Agreements:     
U.S. Treasury and agency securities$297,637 $— $— $— $297,637 
Total$297,637 $— $— $— $297,637 
v3.25.2
Federal Home Loan Bank Advances
 6 Months Ended
Jun. 30, 2025
Federal Home Loan Banks [Abstract]  
Federal Home Loan Bank Advances FEDERAL HOME LOAN BANK ADVANCES
The following table summarizes Old National Bank’s FHLB advances:
(dollars in thousands)June 30,
2025		December 31,
2024
FHLB advances (fixed rates 2.25% to 5.20%
   and variable rates 4.28% to 4.48%) maturing
   August 2025 to January 2045
$5,830,200 $4,475,285 
Fair value hedge basis adjustments and unamortized
   prepayment fees		5,718 (22,726)
Total$5,835,918 $4,452,559 
FHLB advances had weighted-average rates of 3.82% at June 30, 2025 and 3.54% at December 31, 2024. 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 June 30, 2025, total unamortized prepayment fees related to all FHLB advance debt modifications completed in prior years totaled $5.2 million, compared to $8.2 million at December 31, 2024.
Contractual maturities of FHLB advances at June 30, 2025 were as follows:
(dollars in thousands) 
Due in 2025$1,625,000 
Due in 2026230,000 
Due in 2027141,000 
Due in 2028748,000 
Due in 2029906,000 
Thereafter2,180,200 
Fair value hedge basis adjustments and unamortized prepayment fees5,718 
Total$5,835,918 
v3.25.2
Other Borrowings
 6 Months Ended
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]  
Other Borrowings OTHER BORROWINGS
The following table summarizes Old National’s other borrowings:
(dollars in thousands)June 30,
2025		December 31,
2024
Old National Bancorp:  
Subordinated debentures (fixed rate 5.88%) maturing September 2026
$150,000 $150,000 
Subordinated debentures (fixed rate 9.69%) maturing June 2030
30,000 30,000 
Junior subordinated debentures (rates of 5.98% to 8.12%) maturing
   July 2031 to September 2037
198,499 136,643 
Other basis adjustments10,470 13,049 
Old National Bank:
Finance lease liabilities21,207 24,822 
Subordinated debentures (3-month Secured Overnight Financing
   Rate (“SOFR”) plus 4.618%; variable rate 8.90%) maturing October 2025
12,000 12,000 
Leveraged loans for NMTC (fixed rates of 1.00% to 7.25%)
   maturing December 2027 to June 2060
398,493 210,251 
Other (1)
51,628 112,853 
Total other borrowings$872,297 $689,618 
(1)Includes overnight borrowings to collateralize certain derivative positions totaling $51.6 million at June 30, 2025 and $112.8 million at December 31, 2024.
Contractual maturities of other borrowings at June 30, 2025 were as follows:
(dollars in thousands) 
Due in 2025$67,580 
Due in 2026151,976 
Due in 202718,783 
Due in 20281,846 
Due in 20291,059 
Thereafter620,553 
Unamortized debt issuance costs and other basis adjustments10,500 
Total$872,297 
Junior Subordinated Debentures
Junior subordinated debentures related to trust preferred securities are classified in “other borrowings” and qualify as Tier 2 capital for regulatory purposes, subject to certain limitations.
Through various mergers and acquisitions, Old National assumed junior subordinated debenture obligations related to various trusts that issued trust preferred securities. Old National guarantees the payment of distributions on the trust preferred securities issued by the trusts. Proceeds from the issuance of each of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by the trusts.
Old National, at any time, may redeem the junior subordinated debentures at par and, thereby cause a redemption of the trust preferred securities in whole or in part.
The following table summarizes the terms of our outstanding junior subordinated debentures at June 30, 2025:
(dollars in thousands)   
Rate at
June 30,
2025
 
Name of TrustIssuance DateIssuance
Amount		RateMaturity Date
Bridgeview Statutory Trust IJuly 2001$15,464 
3-month SOFR plus 3.58%
8.12%July 31, 2031
Bridgeview Capital Trust IIDecember 200215,464 
3-month SOFR plus 3.35%
7.87%January 7, 2033
First Midwest Capital Trust INovember 200337,825 
6.95% fixed
6.95%December 1, 2033
St. Joseph Capital Trust IIMarch 20055,155 
3-month SOFR plus 1.75%
6.32%March 17, 2035
Northern States Statutory Trust ISeptember 200510,310 
3-month SOFR plus 1.80%
6.38%September 15, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month SOFR plus 1.55%
6.11%September 30, 2035
Great Lakes Statutory Trust IIDecember 20056,186 
3-month SOFR plus 1.40%
5.98%December 15, 2035
Bremer Statutory Trust IIJune 200661,856 
3-month SOFR plus 1.60%
6.19%June 1, 2036
Home Federal Statutory
   Trust I		September 200615,464 
3-month SOFR plus 1.65%
6.23%September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,093 
3-month SOFR plus 1.60%
6.12%October 7, 2036
Tower Capital Trust 3December 20069,279 
3-month SOFR plus 1.69%
6.28%March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,155 
3-month SOFR plus 1.60%
6.18%June 15, 2037
Great Lakes Statutory Trust IIIJune 20078,248 
3-month SOFR plus 1.70%
6.28%September 15, 2037
Total$198,499 
Leveraged Loans
The leveraged loans are directly related to the NMTC structure. As part of the transaction structure, Old National has the right to sell its interest in the entity that received the leveraged loans at an agreed upon price to the leveraged lender at the end of the NMTC seven-year compliance period. See Note 9 to the consolidated financial statements for additional information on the Company’s NMTC investments.
Finance Lease Liabilities
Old National has long-term finance lease liabilities for certain banking centers and equipment totaling $21.2 million at June 30, 2025. See Note 7 to the consolidated financial statements for a maturity analysis of the Company’s finance lease liabilities.
v3.25.2
Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table summarizes the changes within each classification of AOCI, net of tax:
(dollars in thousands)Unrealized
Gains and
Losses on
Available-for-Sale Debt
Securities		Unrecognized
Gains and
Losses on
Held-to-Maturity
Securities		Gains and
Losses on
Hedges		Total
Three Months Ended June 30, 2025    
Balance at beginning of period$(582,779)$(79,373)$13,643 $(648,509)
Other comprehensive income (loss) before reclassifications40,590 — 3,365 43,955 
Amounts reclassified from AOCI to income (1)
31 3,037 1,878 4,946 
Balance at end of period$(542,158)$(76,336)$18,886 $(599,608)
Three Months Ended June 30, 2024
Balance at beginning of period$(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)$(791,408)
Six Months Ended June 30, 2025
Balance at beginning of period$(668,063)$(82,294)$4,314 $(746,043)
Other comprehensive income (loss) before reclassifications125,818 — 11,807 137,625 
Amounts reclassified from AOCI to income (1)
87 5,958 2,765 8,810 
Balance at end of period$(542,158)$(76,336)$18,886 $(599,608)
Six Months Ended June 30, 2024
Balance at beginning of period$(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)
(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, 2025 and 2024:
 Three Months Ended
June 30,		 
(dollars in thousands)20252024 
Details about AOCI ComponentsAmount Reclassified
from AOCI		Affected Line Item in the
Statement of Income
Unrealized gains and losses on
   available-for-sale securities		$(41)$2 Debt securities gains (losses), net
 10 — Income tax (expense) benefit
 $(31)$2 Net income
Amortization of unrecognized losses on
   held-to-maturity securities transferred
   from available-for-sale		$(4,069)$(4,376)Interest income (expense)
 1,032 1,111 Income tax (expense) benefit
 $(3,037)$(3,265)Net income
Gains and losses on hedges
   Interest rate contracts		$(2,533)$(4,747)Interest income (expense)
 655 1,228 Income tax (expense) benefit
 $(1,878)$(3,519)Net income
Total reclassifications for the period$(4,946)$(6,782)Net income
The following table summarizes the amounts reclassified out of each component of AOCI for the six months ended June 30, 2025 and 2024:
 Six Months Ended
June 30,		 
(dollars in thousands)20252024 
Details about AOCI ComponentsAmount Reclassified
from AOCI		Affected Line Item in the
Statement of Income
Unrealized gains and losses on
   available-for-sale securities		$(117)$(14)Debt securities gains (losses), net
 30 4 Income tax (expense) benefit
 $(87)$(10)Net income
Amortization of unrecognized losses on
   held-to-maturity securities transferred
   from available-for-sale		$(7,984)$(8,694)Interest income (expense)
 2,026 2,208 Income tax (expense) benefit
 $(5,958)$(6,486)Net income
Gains and losses on hedges
   Interest rate contracts		$(3,729)$(9,624)Interest income (expense)
 964 2,489 Income tax (expense) benefit
 $(2,765)$(7,135)Net income
Total reclassifications for the period$(8,810)$(13,631)Net income
v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
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
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Provision at statutory rate of 21%
$32,698 $32,861 $70,826 $64,943 
Tax-exempt income:
Tax-exempt interest(5,599)(5,027)(9,851)(9,985)
Section 291/265 interest disallowance1,364 957 2,033 1,841 
Company-owned life insurance income(1,397)(1,178)(2,532)(1,872)
Tax-exempt income(5,632)(5,248)(10,350)(10,016)
State income taxes5,094 6,333 11,995 11,480 
Interim period effective rate adjustment(159)(70)(306)873 
Tax credit investments - federal(5,156)(3,106)(9,258)(6,160)
Officer compensation limitation1,436 1,491 1,808 2,256 
Non-deductible FDIC premiums2,816 2,032 4,853 3,779 
Other, net(799)957 (2,366)583 
Income tax expense$30,298 $35,250 $67,202 $67,738 
Effective tax rate19.5 %22.5 %19.9 %21.9 %
Net Deferred Tax Assets
Net deferred tax assets are included in other assets on the balance sheet. At June 30, 2025, net deferred tax assets totaled $527.9 million, compared to $456.4 million at December 31, 2024. No valuation allowance was required on the Company’s deferred tax assets at June 30, 2025 or December 31, 2024.
The Company’s retained earnings at June 30, 2025 included an appropriation for acquired thrifts’ tax bad debt allowances totaling $58.6 million for which no provision for federal or state income taxes has been made. If in the future, this portion of retained earnings were distributed as a result of the liquidation of the Company or its subsidiaries, federal and state income taxes would be imposed at the then applicable rates.
Old National has federal net operating loss carryforwards totaling $183.1 million at June 30, 2025 and $60.2 million at December 31, 2024. This federal net operating loss was acquired from the acquisition of Anchor BanCorp Wisconsin Inc. in 2016, First Midwest Bancorp, Inc. in 2022, CapStar Financial Holdings, Inc. in 2024, and Bremer Financial Corporation in 2025. Old National also generated a federal net operating loss of $59.1 million at June 30, 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 $148.4 million at June 30, 2025 and $106.0 million at December 31, 2024. If not used, the state net operating loss carryforwards will expire from 2028 to 2044.
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.
On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law, which contain numerous tax provisions. Since the bill was signed after the close of the quarter, no financial statement impact was reflected in the second quarter of 2025. The Company is currently evaluating the impact of the OBBBA on the consolidated financial statements and does not believe it will have a material impact.
v3.25.2
Derivative Financial Instruments
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments DERIVATIVE FINANCIAL INSTRUMENTS
As part of our overall interest rate risk management, Old National uses derivative instruments, including interest rate swaps, collars, and floors. The notional amount does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual agreements. Derivative instruments are recognized on the balance sheet at their fair value and are not reported on a net basis.
Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. Old National’s exposure is limited to the termination value of the contracts rather than the notional, principal, or contract amounts. There are provisions in our agreements with the counterparties that allow for certain unsecured credit exposure up to an agreed threshold. Exposures in excess of the agreed thresholds are collateralized. In addition, we minimize credit risk through credit approvals, limits, and monitoring procedures.
Derivatives Designated as Hedges
Subsequent changes in fair value for a hedging instrument that has been designated and qualifies as part of a hedging relationship are accounted for in the following manner:
Cash flow hedges: changes in fair value are recognized as a component in other comprehensive income (loss).
Fair value hedges: changes in fair value are recognized concurrently in earnings.
As long as a hedging instrument is designated, and the results of the effectiveness testing support that the instrument qualifies for hedge accounting treatment, 100% of the periodic changes in fair value of the hedging instrument are accounted for as outlined above. This is the case whether or not economic mismatches exist in the hedging relationship. As a result, there is no periodic measurement or recognition of ineffectiveness. Rather, the full impact of hedge gains and losses is recognized in the period in which the hedged transactions impact earnings.
The change in fair value of the hedging instrument that is included in the assessment of hedge effectiveness is presented in the same income statement line item that is used to present the earnings effect of the hedged item.
Cash Flow Hedges
Interest rate swaps of certain borrowings were designated as cash flow hedges totaling $50.0 million notional amount at June 30, 2025 and $150.0 million notional amount at December 31, 2024. Interest rate swaps, collars, and floors related to variable-rate commercial loan pools were designated as cash flow hedges totaling $1.9 billion notional amount at both June 30, 2025 and December 31, 2024. The hedges were determined to be effective during all periods presented and we expect them to remain effective during the remaining terms.
Old National has designated its interest rate collars as cash flow hedges. The structure of these instruments is such that Old National pays the counterparty an incremental amount if the collar index exceeds the cap rate. Conversely, Old National receives an incremental amount if the index falls below the floor rate. No payments are required if the collar index falls between the cap and floor rates. 
Old National has designated its interest rate floor transactions as cash flow hedges. The structure of these instruments is such that Old National receives an incremental amount if the index falls below the floor strike rate. No payments are required if the index remains above the floor strike rate.
Fair Value Hedges
Interest rate swaps of certain borrowings were designated as fair value hedges totaling $1.1 billion notional amount at both June 30, 2025 and December 31, 2024. Interest rate swaps of certain available-for-sale investment securities were designated as fair value hedges totaling $927.4 million notional amount at both June 30, 2025 and December 31, 2024. The hedges were determined to be effective during all periods presented and we expect them to remain effective during the remaining terms.
The following table summarizes Old National’s derivatives designated as hedges:
June 30, 2025December 31, 2024
Fair ValueFair Value
(dollars in thousands)Notional
Assets (1)
Liabilities (2)
Notional
Assets (1)
Liabilities (2)
Cash flow hedges
Interest rate swaps, collars, and floors on loan
   pools		$1,900,000 $13,401 $2,780 $1,900,000 $3,490 $11,196 
Interest rate swaps on borrowings (3)
50,000 — — 150,000 — — 
Fair value hedges
Interest rate swaps on investment securities (3)
927,407 — — 927,407 — — 
Interest rate swaps on borrowings (3)
1,100,000 5,280 — 1,100,000 665 — 
Total$18,681 $2,780 $4,155 $11,196 
(1)Derivative assets are included in other assets on the balance sheet.
(2)Derivative liabilities are included in other liabilities on the balance sheet.
(3)The fair values of certain counterparty interest rate swaps are zero due to the settlement of centrally cleared variation margin rules.
The effect of derivative instruments in fair value hedging relationships on the consolidated statements of income were as follows:
(dollars in thousands)Gain (Loss)
Recognized
in Income on
Related
Hedged
Items
Derivatives in
Fair Value Hedging
Relationships		Location of Gain or
(Loss) Recognized in
Income on Derivative		Gain (Loss)
Recognized
in Income on
Derivative		Hedged Items
in Fair Value
Hedging
Relationships		Location of Gain or
(Loss) Recognized in
in Income on Related
Hedged Item
Three Months Ended
June 30, 2025
Interest rate contractsInterest income/(expense)$6,088 Fixed-rate debtInterest income/(expense)$(6,075)
Interest rate contractsInterest income/(expense)(8,579)Fixed-rate
investment
securities		Interest income/(expense)8,564 
Total$(2,491)$2,489 
Three Months Ended
June 30, 2024
Interest rate contractsInterest income/(expense)$(317)Fixed-rate debtInterest income/(expense)$272 
Interest rate contractsInterest income/(expense)2,836 Fixed-rate
investment
securities		Interest income/(expense)(2,809)
Total$2,519 $(2,537)
Six Months Ended
June 30, 2025
Interest rate contractsInterest income/(expense)$15,064 Fixed-rate debtInterest income/(expense)$(15,007)
Interest rate contractsInterest income/(expense)(27,746)Fixed-rate
investment
securities		Interest income/(expense)27,711 
Total$(12,682)$12,704 
Six Months Ended
June 30, 2024
Interest rate contractsInterest income/(expense)$(14,288)Fixed-rate debtInterest income/(expense)$14,399 
Interest rate contractsInterest income/(expense)28,684 Fixed-rate
investment
securities		Interest income/(expense)(28,714)
Total$14,396 $(14,315)
The effect of derivative instruments in cash flow hedging relationships on the consolidated statements of income were as follows:
Three Months Ended
June 30,		Three Months Ended
June 30,
(dollars in thousands) 2025202420252024
Derivatives in
Cash Flow Hedging
Relationships		Location of Gain or
(Loss) Reclassified
from AOCI into Income		Gain (Loss)
Recognized in Other
Comprehensive
Income on Derivative		Gain (Loss)
Reclassified from
AOCI into
Income
Interest rate contractsInterest income/(expense)$4,538 $(7,035)$(3,632)$(5,781)
  Six Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Derivatives in
Cash Flow Hedging
Relationships		Location of Gain or
(Loss) Reclassified
from AOCI into Income		Gain (Loss)
Recognized in Other
Comprehensive
Income on Derivative		Gain (Loss)
Reclassified from
AOCI into
Income
Interest rate contractsInterest income/(expense)$15,925 $(26,194)$(5,927)$(11,692)
Amounts reported in AOCI related to cash flow hedges will be reclassified to interest income or interest expense as interest payments are received or paid on Old National’s derivative instruments. During the next 12 months, we estimate that $3.2 million will be reclassified to interest income and $15.8 million will be reclassified to interest expense.
Derivatives Not Designated as Hedges
Commitments to fund certain mortgage loans (“interest rate lock commitments”) and forward commitments for the future delivery of mortgage loans to third party investors (“forward mortgage loan contracts”) are considered derivatives. These derivative contracts do not qualify for hedge accounting. At June 30, 2025, the notional amounts of the interest rate lock commitments were $105.0 million and forward mortgage loan contracts were $177.5 million. At December 31, 2024, the notional amounts of the interest rate lock commitments were $57.4 million and forward commitments were $88.8 million. It is our practice to enter into forward mortgage loan contracts for the future delivery of residential mortgage loans to third-party investors when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from our commitment to fund the loans.
Old National also enters into derivative instruments for the benefit of its clients. The notional amounts of these customer derivative instruments and the offsetting counterparty derivative instruments were $9.0 billion at June 30, 2025 and $6.3 billion at December 31, 2024. These derivative contracts do not qualify for hedge accounting. These instruments include interest rate swaps and collars. Commonly, Old National will economically hedge significant exposures related to these derivative contracts entered into for the benefit of clients by entering into offsetting contracts with approved, reputable, independent counterparties with substantially matching terms.
Old National enters into derivative financial instruments as part of its foreign currency risk management strategies. These derivative instruments consist of foreign currency forward contracts to accommodate the business needs of its clients. Old National does not designate these foreign currency forward contracts for hedge accounting treatment.
The following table summarizes Old National’s derivatives not designated as hedges:
June 30, 2025December 31, 2024
Fair ValueFair Value
(dollars in thousands)Notional
Assets (1)
Liabilities (2)
Notional
Assets (1)
Liabilities (2)
Interest rate lock commitments$105,050 $903 $— $57,380 $— $166 
Forward mortgage loan contracts177,471 — 837 88,808 807 — 
Customer interest rate swaps9,023,697 67,990 216,304 6,255,123 12,827 219,926 
Counterparty interest rate swaps (3)
9,023,697 89,996 68,362 6,255,123 128,469 12,902 
Customer foreign currency contracts10,044 445 39 10,265 28 121 
Counterparty foreign currency contracts10,175 49 367 10,093 192 2 
Total$159,383 $285,909 $142,323 $233,117 
(1)Derivative assets are included in other assets on the balance sheet.
(2)Derivative liabilities are included in other liabilities on the balance sheet.
(3)The fair values of certain counterparty interest rate swaps are zero due to the settlement of centrally cleared variation margin rules.
The effect of derivatives not designated as hedging instruments on the consolidated statements of income were as follows:
Three Months Ended
June 30,
(dollars in thousands) 20252024
Derivatives Not Designated as
Hedging Instruments		Location of Gain or (Loss)
Recognized in Income on
Derivative		Gain (Loss)
Recognized in Income on
Derivative
Interest rate contracts (1)
Other income/(expense)$123 $(160)
Mortgage contractsMortgage banking revenue(122)(693)
Foreign currency contractsOther income/(expense)(66)(47)
Total $(65)$(900)
  Six Months Ended
June 30,
 20252024
Derivatives Not Designated as
Hedging Instruments		Location of Gain or (Loss)
Recognized in Income on
Derivative		Gain (Loss)
Recognized in Income on
Derivative
Interest rate contracts (1)
Other income/(expense)$147 $408 
Mortgage contractsMortgage banking revenue(503)44 
Foreign currency contractsOther income/(expense)13 (81)
Total $(343)$371 
(1)Includes the valuation differences between the customer and offsetting swaps.
Fair Value of Offsetting Derivatives
Certain derivative instruments are subject to master netting agreements with counterparties that provide rights of setoff. The Company records these transactions at their gross fair values and does not offset derivative assets and liabilities in the Consolidated Balance Sheet. The following table presents the fair value of the Company’s derivatives and offsetting positions:
June 30, 2025December 31, 2024
(dollars in thousands)AssetsLiabilitiesAssetsLiabilities
Gross amounts recognized$178,064 $288,689 $146,478 $244,313 
Less: amounts offset in the Consolidated Balance Sheet— — — — 
Net amount presented in the Consolidated Balance Sheet178,064 288,689 146,478 244,313 
Gross amounts not offset in the Consolidated Balance Sheet
Offsetting derivative positions(71,142)(71,142)(24,098)(24,098)
Cash collateral pledged(7,901)(51,759)— (112,499)
Net credit exposure$99,021 $165,788 $122,380 $107,716 
v3.25.2
Commitments, Contingencies, and Financial Guarantees
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments, Contingencies, and Financial Guarantees COMMITMENTS, CONTINGENCIES, AND FINANCIAL GUARANTEES
Litigation
At June 30, 2025, there were certain legal proceedings pending against the Company and its subsidiaries in the ordinary course of business. While the outcome of any legal proceeding is inherently uncertain, based on information currently available, the Company’s management does not expect that any potential liabilities arising from pending litigation will have a material adverse effect on the Company’s business, financial position, or results of operations.
Credit-Related Financial Instruments
Old National holds instruments, in the normal course of business with clients, that are considered financial guarantees and are recorded at fair value. Standby letters of credit guarantees are issued in connection with agreements made by clients to counterparties. Standby letters of credit are contingent upon failure of the client to perform the terms of the underlying contract. Credit risk associated with standby letters of credit is essentially the same as that associated with extending loans to clients and is subject to normal credit policies. The term of these standby letters of credit is typically one year or less. These commitments are not recorded in the consolidated financial statements.
The following table summarizes Old National Bank’s unfunded loan commitments and standby letters of credit:
(dollars in thousands)June 30,
2025		December 31,
2024
Unfunded loan commitments (1)
$11,405,665 $8,533,433 
Standby letters of credit (2)
267,722 194,323 
(1)Excludes cancellable loan commitments of $2.9 billion at June 30, 2025 and $2.5 billion at December 31, 2024.
(2)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.8 million at June 30, 2025 and $1.7 million at December 31, 2024.
At June 30, 2025, approximately 3% of the unfunded loan commitments had fixed rates, with the remainder having floating rates ranging from 0.01% to 21.49%. The allowance for unfunded loan commitments totaled $29.6 million at June 30, 2025 and $21.7 million at December 31, 2024.
Old National is a party in risk participation transactions of interest rate swaps, which had total notional amounts of $1.0 billion at June 30, 2025 and $730.5 million at December 31, 2024.
v3.25.2
Fair Value
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value FAIR VALUE
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:
•Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.
•Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.
•Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.
Old National used the following methods and significant assumptions to estimate the fair value of each type of financial instrument:
Investment securities and equity securities: The fair values for investment securities and equity securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Discounted cash flows are calculated using swap and SOFR curves plus spreads that adjust for loss severities, volatility, credit risk, and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations.
Loans held-for-sale: The fair value of loans held-for-sale is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan (Level 2).
Derivative financial instruments: The fair values of derivative financial instruments are based on market quotes developed using observable inputs as of the valuation date (Level 2).
Recurring Basis
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which we have elected the fair value option, are summarized below: 
Fair Value Measurements at June 30, 2025 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets for
Identical Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
Equity securities$121,025 $121,025 $— $— 
Investment securities available-for-sale:
U.S. Treasury261,292 261,292 — — 
U.S. government-sponsored entities and agencies1,347,779 — 1,347,779 — 
Mortgage-backed securities - Agency8,690,742 — 8,690,742 — 
States and political subdivisions441,880 — 441,880 — 
Pooled trust preferred securities11,319 — 11,319 — 
Other securities252,184 — 252,184 — 
Loans held-for-sale77,618 — 77,618 — 
Derivative assets178,064 — 178,064 — 
Financial Liabilities
Derivative liabilities288,689 — 288,689 — 
  Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets for
Identical Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
Equity securities$91,996 $91,996 $— $— 
Investment securities available-for-sale:
U.S. Treasury199,013 199,013 — — 
U.S. government-sponsored entities and agencies1,257,906 — 1,257,906 — 
Mortgage-backed securities - Agency5,204,891 — 5,204,891 — 
States and political subdivisions485,544 — 485,544 — 
Pooled trust preferred securities11,322 — 11,322 — 
Other securities299,783 — 299,783 — 
Loans held-for-sale34,483 — 34,483 — 
Derivative assets146,478 — 146,478 — 
Financial Liabilities
Derivative liabilities244,313 — 244,313 — 
Non-Recurring Basis
Assets measured at fair value at June 30, 2025 on a non-recurring basis are summarized below:
  Fair Value Measurements at June 30, 2025 Using
(dollars in thousands)Carrying
Value		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral Dependent Loans:    
Commercial loans$51,725 $— $— $51,725 
Commercial real estate loans108,763 — — 108,763 
Foreclosed Assets:
Commercial975 — — 975 
Residential1,809 — — 1,809 
Commercial and commercial real estate loans that are deemed collateral dependent are valued using the discounted cash flows. The liquidation amounts are based on the fair value of the underlying collateral using the most recently available appraisals with certain adjustments made based on the type of property, age of appraisal, current status of the property, and other related factors to estimate the current value of the collateral. These commercial and commercial real estate loans had a principal amount of $213.5 million, with a valuation allowance of $53.0 million at June 30, 2025. Old National recorded provision expense associated with these loans totaling $15.0 million and $24.6 million for the three and six months ended June 30, 2025, respectively, compared to $7.4 million and $17.0 million for the three and six months ended June 30, 2024, respectively.
Other real estate owned and other repossessed property is measured at fair value less costs to sell on a non-recurring basis and had a net carrying amount of $2.8 million at June 30, 2025. There were $0.5 million of write-downs on other real estate owned for the three and six months ended June 30, 2025, respectively, compared to $0.4 million for the three and six months ended June 30, 2024.
Assets measured at fair value at December 31, 2024 on a non-recurring basis are summarized below:
  Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets for
Identical Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
Collateral Dependent Loans:    
Commercial loans$33,658 $— $— $33,658 
Commercial real estate loans121,393 — — 121,393 
Foreclosed Assets:
Commercial real estate975 — — 975 
Residential244 — — 244 
At December 31, 2024, commercial and commercial real estate loans that are deemed collateral dependent had a principal amount of $213.8 million, with a valuation allowance of $58.7 million. Net carrying amount of other real estate owned and other repossessed property totaled $1.2 million at December 31, 2024.
The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy:
(dollars in thousands)Fair ValueValuation TechniquesUnobservable Input
Range (Weighted Average) (1)
June 30, 2025    
Collateral Dependent Loans    
Commercial loans$51,725 DiscountedDiscount for type of property,
11% - 50% (30%)
 cash flowage of appraisal, and current status
Commercial real estate loans108,763 DiscountedDiscount for type of property,
0% - 32% (11%)
cash flowage of appraisal, and current status
Foreclosed Assets
Commercial real estate975 Fair value ofDiscount for type of property,28%
collateralage of appraisal, and current status
Residential (2)
1,809 Fair value ofDiscount for type of property,
24% (24%)
collateralage of appraisal, and current status
December 31, 2024  
Collateral Dependent Loans  
Commercial loans$33,658 DiscountedDiscount for type of property,
9% - 49% (31%)
 cash flowage of appraisal, and current status
Commercial real estate loans121,393 DiscountedDiscount for type of property,
3% - 46% (18%)
 cash flowage of appraisal, and current status
Foreclosed Assets  
Commercial real estate (2)
975 Fair value ofDiscount for type of property,
28%
collateralage of appraisal, and current status
Residential (2)
244 Fair value ofDiscount for type of property,
24%
  collateralage of appraisal, and current status 
(1)Unobservable inputs were weighted by the relative fair value of the instruments.
(2)There was only one foreclosed commercial real estate property at June 30, 2025 and December 31, 2024 with write-downs during the six months ended June 30, 2025 and the year ended December 31, 2024, respectively, so no range or weighted average is reported.
Fair Value Option
Old National may elect to report most financial instruments and certain other items at fair value on an instrument-by-instrument basis with changes in fair value reported in net income. After the initial adoption, the election is made at the acquisition of an eligible financial asset, financial liability, or firm commitment or when certain specified reconsideration events occur. The fair value election may not be revoked once an election is made.
Loans Held-For-Sale
Old National has elected the fair value option for loans held-for-sale. For these loans, interest income is recorded in the consolidated statements of income based on the contractual amount of interest income earned on the financial assets (except any that are on nonaccrual status). None of these loans are 90 days or more past due, nor are any on nonaccrual status. Interest income for loans held-for-sale is included in the income statement totaling $1.1 million and $1.7 million for the three and six months ended June 30, 2025, respectively, compared to $0.5 million and $0.8 million for the three and six months ended June 30, 2024, respectively.
Newly originated conforming fixed-rate and adjustable-rate first mortgage loans are intended for sale and are hedged with derivative instruments. Old National has elected the fair value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplification. The fair value option was not elected for loans held for investment.
The difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows: 
(dollars in thousands)Aggregate
Fair Value		Difference Contractual Principal
June 30, 2025   
Loans held-for-sale$77,618 $1,749 $75,869 
December 31, 2024
Loans held-for-sale$34,483 $271 $34,212 
Accrued interest at period end is included in the fair value of the instruments.
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value:
(dollars in thousands)Other
Gains and (Losses)		Interest IncomeInterest (Expense)Total Changes
in Fair Values
Included in
Current Period Earnings
Three Months Ended June 30, 2025    
Loans held-for-sale$783 $101 $— $884 
Three Months Ended June 30, 2024
Loans held-for-sale$105 $6 $— $111 
Six Months Ended June 30, 2025
Loans held-for-sale$1,386 $101 $(9)$1,478 
Six Months Ended June 30, 2024
Loans held-for-sale$(97)$6 $(5)$(96)
Financial Instruments Not Carried at Fair Value
The carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows: 
  Fair Value Measurements at June 30, 2025 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets
for Identical
Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
Financial Assets    
Cash, due from banks, money market,
   and other interest-earning investments		$1,808,571 $1,808,571 $— $— 
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies836,662 — 694,377 — 
Mortgage-backed securities - Agency941,464 — 796,079 — 
State and political subdivisions1,148,242 — 979,891 — 
Loans, net:
Commercial14,445,657 — — 14,450,834 
Commercial real estate21,584,336 — — 21,549,689 
Residential real estate8,180,392 — — 7,426,652 
Consumer credit3,127,325 — — 2,991,794 
Accrued interest receivable270,373 898 76,033 193,442 
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits$12,652,556 $12,652,556 $— $— 
Checking, NOW, savings, and money market
   interest-bearing deposits		32,493,898 32,493,898 — — 
Time deposits9,211,229 — 9,169,678 — 
Federal funds purchased and interbank borrowings340,246 340,246 — — 
Securities sold under agreements to repurchase297,637 297,637 — — 
FHLB advances5,835,918 — 5,796,841 — 
Other borrowings872,297 — 874,585 — 
Accrued interest payable67,275 — 67,275 — 
Standby letters of credit1,804 — — 1,804 
Off-Balance Sheet Financial Instruments
Commitments to extend credit$— $— $— $6,271 
  Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets
for Identical
Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
Financial Assets    
Cash, due from banks, money market,
   and other interest-earning investments		$1,227,968 $1,227,968 $— $— 
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies832,984 — 664,331 — 
Mortgage-backed securities - Agency970,212 — 800,666 — 
State and political subdivisions1,151,685 — 1,006,141 — 
Loans, net:
Commercial10,138,241 — — 10,158,299 
Commercial real estate16,105,961 — — 15,961,968 
Residential real estate6,774,664 — — 6,080,709 
Consumer credit2,874,499 — — 2,800,060 
Accrued interest receivable233,010 912 60,459 171,639 
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits$9,399,019 $9,399,019 $— $— 
Checking, NOW, savings, and money market
   interest-bearing deposits		24,668,802 24,668,802 — — 
Time deposits6,755,739 — 6,727,453 — 
Federal funds purchased and interbank borrowings385 385 —— 
Securities sold under agreements to repurchase268,975 268,975 —— 
FHLB advances4,452,559 — 4,340,188 — 
Other borrowings689,618 — 689,246 — 
Accrued interest payable65,057 — 65,057 — 
Standby letters of credit1,742 — — 1,742 
Off-Balance Sheet Financial Instruments
Commitments to extend credit$— $— $— $3,403 
The methods utilized to measure the fair value of financial instruments at June 30, 2025 and December 31, 2024 represent an approximation of exit price, however, an actual exit price may differ.
v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in assessing performance and in deciding how to allocate resources. Old National’s CODM is the Chairman and CEO of the Company.
Through our wholly owned banking subsidiary and non-bank affiliates, we provide a wide range of services primarily throughout the Midwest and Southeast regions of the United States and elsewhere, including commercial and consumer loan and depository services, private banking, capital markets, brokerage, wealth management, trust, investment advisory, and other traditional banking services. The Company’s business activities are predominantly similar in their nature, operations, and economic characteristics, largely serving commercial and specialty banking clients with products and services that are offered through overall similar processes and platforms. The accounting policies for the services discussed here are the same as those described in Note 1 to the consolidated financial statements included in Old National’s Annual Report on Form 10-K for the year ended December 31, 2024. We earn interest income on loans as well as fee income from the origination of loans and from fees charged on deposit accounts. Lending activities include loans to individuals, which primarily consist of home equity lines of credit, residential real estate loans, and consumer loans, and loans to commercial clients, which include commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing. Residential real estate loans are either kept in our loan portfolio or sold to secondary investors, with gains or losses from the sales being recognized.
The CODM uses consolidated net income to monitor results, evaluate budget-to-actual variances, perform competitive analyses that benchmark the Company to competitors, and determine whether to reinvest earnings in the
Company or to deploy capital in other ways to maximize shareholder value. The CODM is regularly provided with the consolidated income and expenses, as well as assets, as presented on the Consolidated Statements of Income and Consolidated Balance Sheets, respectively, to assess performance and decide how to allocate resources on a Company-wide basis. The CODM also uses such information to monitor the level of expenses incurred associated with the various aspects of the Company’s business that support our clients, generate revenues, and are associated with the overall administration of the Company’s operations. In addition, certain internal financial information is also used by the CODM to monitor credit quality and credit loss expense. As a result, the Company has determined that it has only one reportable segment.
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Pay vs Performance Disclosure            
Net income $ 125,408 $ 144,659 $ 121,229 $ 120,284 $ 270,067 $ 241,513
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Basis of Presentation (Policies)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation BASIS OF PRESENTATION
The accompanying unaudited consolidated financial statements include the accounts of Old National Bancorp and its wholly owned subsidiaries (hereinafter collectively referred to as “Old National”) and have been prepared in conformity with accounting principles generally accepted in the United States of America and prevailing practices within the banking industry. Such principles require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosures of contingent assets and liabilities at the date of the financial statements and amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, the consolidated financial statements contain all the normal and recurring adjustments necessary for a fair statement of the financial position of Old National as of June 30, 2025 and December 31, 2024, and the results of its operations for the three and six months ended June 30, 2025 and 2024. Interim results do not necessarily represent annual results. Certain information and disclosures normally included in notes to consolidated annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted in this Quarterly Report on Form 10-Q pursuant to SEC rules and regulations. These financial statements should be read in conjunction with Old National’s Annual Report on Form 10-K for the year ended December 31, 2024.
All intercompany transactions and balances have been eliminated. Certain prior year amounts have been reclassified to conform to the current presentation. Such reclassifications had no effect on prior period net income or shareholders’ equity and were insignificant amounts.
Recent Accounting Pronouncements RECENT ACCOUNTING PRONOUNCEMENTS
Accounting Guidance Pending Adoption 
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740 – In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Among other things, these amendments require that public business entities on an annual basis disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income (loss) by the applicable statutory income tax rate). In addition, the ASU requires information pertaining to taxes paid (net of refunds received) to be disaggregated for federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts are equal to or greater than 5 percent of total income taxes paid (net of refunds received). The amendments in this ASU are effective for annual periods beginning after December 15, 2024. Old National does not expect the adoption of this guidance will have a material impact on the consolidated financial statements.
FASB ASC 220 – In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires public business entities to disclose specified information about certain costs and expenses in the notes to financial statements at each interim and annual reporting period. Specifically, public business entities will be required to disclose the amounts of (a) purchases of inventory; (b) employee compensation; (c) depreciation; (d) intangible asset amortization; and (e) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption. Within the same tabular disclosure, an entity must disclose certain expense, gain, or loss amounts that are already required under current GAAP. Further, an entity must disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. In addition, an entity must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in this ASU are effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
FASB ASC 470 – In November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This ASU clarifies requirements for determining whether certain settlements of convertible debt instruments, including convertible debt instruments
with cash conversion features or convertible debt instruments that are not currently convertible, should be accounted for as an induced conversion. The amendments in this ASU are effective for annual periods beginning after December 15, 2025, and interim periods within those annual reporting periods. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
FASB ASC 805 and 810 – In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity. The ASU revises the guidance in ASC 805 to clarify that, in determining the accounting acquirer in “a business combination that is effected primarily by exchanging equity interests in which a VIE is acquired,” an entity would be required to consider the factors in ASC 805-10-55-12 through 55-15. Previously, the accounting acquirer in such transactions was always the primary beneficiary. The amendments in this ASU are effective for annual periods beginning after December 15, 2026, including interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an interim or annual reporting period. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
FASB ASC 718 and 606 – In May 2025, the FASB issued ASU 2025-04, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer. The ASU is intended to reduce diversity in practice and improve existing guidance, primarily by revising the definition of a “performance condition” and eliminating a forfeiture policy election for service conditions associated with share-based consideration payable to a customer. In addition, the ASU clarifies that the guidance in ASC 606 on the variable consideration constraint does not apply to share-based consideration payable to a customer regardless of whether an award’s grant date has occurred (as determined under ASC 718). The amendments in this ASU are effective for fiscal years beginning after December 15, 2026, and interim periods within those fiscal years. Early adoption is permitted. Old National is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
v3.25.2
Acquisition and Divestiture Activity (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Summary of Business Acquisition The following table presents the preliminary valuation of the assets acquired and liabilities assumed and the fair value of consideration as of the merger date:
(dollars and shares in thousands)May 1,
2025
Assets
Cash and cash equivalents$511,157 
Equity securities26,070 
Investment securities2,811,133 
FHLB/Federal Reserve Bank stock93,924 
Loans held-for-sale9,883 
Loans, net of allowance for credit losses11,123,355 
Premises and equipment100,489 
Goodwill234,635 
Other intangible assets440,099 
Company-owned life insurance181,909 
Other assets770,925 
Total assets$16,303,579 
Liabilities
Deposits$12,880,842 
Securities sold under agreements to repurchase49,131 
Federal Home Loan Bank advances1,559,227 
Other borrowings193,279 
Accrued expenses and other liabilities273,205 
Total liabilities$14,955,684 
Fair value of consideration
Common stock (50,183 shares issued at $20.67 per share)
$1,033,262 
Cash314,633 
Total consideration$1,347,895 
The following table presents a summary of the assets acquired and liabilities assumed, net of the fair value adjustments and the fair value of consideration as of the merger date:
(dollars and shares in thousands)April 1,
2024
Assets
Cash and cash equivalents$177,791 
Investment securities342,490 
FHLB/Federal Reserve Bank stock14,426 
Loans held-for-sale21,159 
Loans, net of allowance for credit losses2,120,627 
Premises and equipment22,481 
Goodwill176,535 
Other intangible assets46,125 
Company-owned life insurance91,475 
Other assets95,922 
Total assets$3,109,031 
Liabilities
Deposits$2,560,124 
Federal Home Loan Bank advances75,000 
Other borrowings30,000 
Accrued expenses and other liabilities26,309 
Total liabilities$2,691,433 
Fair value of consideration
Common stock (24,014 shares issued at $17.41 per share)
$417,598 
Total consideration$417,598 
Summary of Business Combination, Pro Forma Information
The following table presents supplemental unaudited pro-forma financial information as if the Bremer merger had occurred on January 1, 2024. The pro-forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effective as of this assumed date.
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Total revenues (1)
$694,351 $660,328 $1,363,086 $1,295,485 
Income before income taxes229,090 180,291 482,014 339,091 
(1)    Includes net interest income and total noninterest income.
v3.25.2
Net Income Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Summary of Table Reconciling Basic and Diluted Net Income Per Share
The following table presents the calculation of basic and diluted net income per common share:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars and shares in thousands, except per share data)2025202420252024
Net income$125,408 $121,229 $270,067 $241,513 
Preferred dividends(4,033)(4,033)(8,067)(8,067)
Net income applicable to common shares$121,375 $117,196 $262,000 $233,446 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)360,155 315,585 338,162 303,283 
Effect of dilutive securities:
Restricted stock1,281 876 2,088 924 
Weighted average diluted shares outstanding361,436 316,461 340,250 304,207 
Basic Net Income Per Common Share$0.34 $0.37 $0.78 $0.77 
Diluted Net Income Per Common Share$0.34 $0.37 $0.77 $0.77 
v3.25.2
Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Investment Securities Portfolio
The following table summarizes the amortized cost and fair value of the available-for-sale portfolio and the corresponding amounts of gross unrealized gains, unrealized losses, and basis adjustments in accumulated other comprehensive income (loss) (“AOCI”).
(dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses
Basis
Adjustments (1)
Fair
Value
June 30, 2025    
Available-for-Sale    
U.S. Treasury$318,626 $86 $(11,823)$(45,597)$261,292 
U.S. government-sponsored entities and agencies1,567,522 244 (159,198)(60,789)1,347,779 
Mortgage-backed securities - Agency9,204,788 40,827 (554,873)— 8,690,742 
States and political subdivisions466,812 1,009 (28,517)2,576 441,880 
Pooled trust preferred securities13,813 — (2,494)— 11,319 
Other securities259,880 911 (8,607)— 252,184 
Total available-for-sale securities$11,831,441 $43,077 $(765,512)$(103,810)$11,005,196 
December 31, 2024
Available-for-Sale
U.S. Treasury$261,421 $67 $(12,659)$(49,816)$199,013 
U.S. government-sponsored entities and agencies1,521,610 7 (181,360)(82,351)1,257,906 
Mortgage-backed securities - Agency5,861,067 6,005 (662,181)— 5,204,891 
States and political subdivisions510,630 148 (25,881)647 485,544 
Pooled trust preferred securities13,807 — (2,485)— 11,322 
Other securities311,973 760 (12,950)— 299,783 
Total available-for-sale securities$8,480,508 $6,987 $(897,516)$(131,520)$7,458,459 
(1)    Basis adjustments represent the amount of fair value hedging adjustments included in the carrying amounts of fixed-rate investment securities assets designated in fair value hedging arrangements. See Note 15 to the consolidated financial statements for additional information regarding these derivative financial instruments.
Schedule of Held-to-Maturity Investment Securities with Unrecognized Losses
The following table summarizes the amortized cost and fair value of the held-to-maturity investment securities portfolio and the corresponding amounts of gross unrecognized gains and losses.
(dollars in thousands)Amortized
Cost		Unrecognized
Gains		Unrecognized
Losses		Fair
Value
June 30, 2025   
Held-to-Maturity
U.S. government-sponsored entities and agencies$836,662 $— $(142,285)$694,377 
Mortgage-backed securities - Agency941,464 — (145,385)796,079 
States and political subdivisions1,148,392 7 (168,358)980,041 
Allowance for securities held-to-maturity(150)— — (150)
Total held-to-maturity securities$2,926,368 $7 $(456,028)$2,470,347 
December 31, 2024
Held-to-Maturity
U.S. government-sponsored entities and agencies$832,984 $— $(168,653)$664,331 
Mortgage-backed securities - Agency970,212 — (169,546)800,666 
States and political subdivisions1,151,835 317 (145,861)1,006,291 
Allowance for securities held-to-maturity(150)— — (150)
Total held-to-maturity securities$2,954,881 $317 $(484,060)$2,471,138 
The following table summarizes the held-to-maturity investment securities with unrecognized losses aggregated by major security type and length of time in a continuous loss position:
 Less than 12 months12 months or longerTotal
(dollars in thousands)Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
June 30, 2025
Held-to-Maturity
U.S. government-sponsored entities
   and agencies		$— $— $694,377 $(142,285)$694,377 $(142,285)
Mortgage-backed securities - Agency— — 796,079 (145,385)796,079 (145,385)
States and political subdivisions63,800 (2,767)914,539 (165,591)978,339 (168,358)
Total held-to-maturity$63,800 $(2,767)$2,404,995 $(453,261)$2,468,795 $(456,028)
December 31, 2024
Held-to-Maturity
U.S. government-sponsored entities
   and agencies		$— $— $664,331 $(168,653)$664,331 $(168,653)
Mortgage-backed securities - Agency— — 800,666 (169,546)800,666 (169,546)
States and political subdivisions37,007 (430)937,364 (145,431)974,371 (145,861)
Total held-to-maturity$37,007 $(430)$2,402,361 $(483,630)$2,439,368 $(484,060)
Schedule of Proceeds from Sales or Calls and Realized Gain and Losses of Available-for-Sale Investment Securities and Other Securities
Proceeds from sales or calls of available-for-sale investment securities and the resulting realized gains and realized losses were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Proceeds$2,092,486 $287,075 $2,163,445 $348,325 
Realized gains11 4 90 8 
Realized losses(52)(2)(207)(22)
Schedule of Expected Maturities of Investment Securities Portfolio
The table below shows the amortized cost and fair value of the investment securities portfolio by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Weighted average yield is based on amortized cost.
 June 30, 2025
(dollars in thousands)Amortized
Cost		Fair
Value		Weighted
Average
Yield
Maturity
Available-for-Sale   
Within one year$291,158 $290,051 3.92 %
One to five years3,181,494 3,139,051 4.48 
Five to ten years7,175,378 6,646,934 3.80 
Beyond ten years1,183,411 929,160 2.65 
Total$11,831,441 $11,005,196 3.87 %
Held-to-Maturity
Within one year$18,232 $18,101 3.21 %
One to five years51,266 46,861 2.02 
Five to ten years1,344,104 1,167,923 2.57 
Beyond ten years1,512,766 1,237,462 2.75 
Total$2,926,368 $2,470,347 2.66 %
Schedule of Available-for-Sale and Held-to-Maturity Investment Securities with Unrealized Losses by Aggregated Major Security Type and Length of Time in Continuous Unrealized Loss Position
The following table summarizes the available-for-sale investment securities with unrealized losses for which an allowance for credit losses has not been recorded by aggregated major security type and length of time in a continuous unrealized loss position:
 Less than 12 months12 months or longerTotal
(dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized Losses
June 30, 2025
Available-for-Sale
U.S. Treasury$2,992 $(9)$180,172 $(11,814)$183,164 $(11,823)
U.S. government-sponsored entities
   and agencies		107,447 (796)1,158,392 (158,402)1,265,839 (159,198)
Mortgage-backed securities - Agency372,714 (2,174)3,309,123 (552,699)3,681,837 (554,873)
States and political subdivisions70,158 (720)258,259 (27,797)328,417 (28,517)
Pooled trust preferred securities— — 11,319 (2,494)11,319 (2,494)
Other securities26,361 (107)179,433 (8,500)205,794 (8,607)
Total available-for-sale$579,672 $(3,806)$5,096,698 $(761,706)$5,676,370 $(765,512)
December 31, 2024
Available-for-Sale
U.S. Treasury$3,977 $(26)$177,691 $(12,633)$181,668 $(12,659)
U.S. government-sponsored entities
   and agencies		98,280 (1,713)1,144,618 (179,647)1,242,898 (181,360)
Mortgage-backed securities - Agency857,440 (9,172)3,406,350 (653,009)4,263,790 (662,181)
States and political subdivisions133,906 (1,462)279,121 (24,419)413,027 (25,881)
Pooled trust preferred securities— — 11,322 (2,485)11,322 (2,485)
Other securities33,292 (295)199,631 (12,655)232,923 (12,950)
Total available-for-sale$1,126,895 $(12,668)$5,218,733 $(884,848)$6,345,628 $(897,516)
v3.25.2
Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
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)
June 30, 2025
Commercial (1)
$14,662,916 $(218,095)$14,444,821 
Commercial real estate21,879,785 (175,181)21,704,604 
BBCCN/A393,276 393,276 
Residential real estate8,212,242 — 8,212,242 
Consumer3,147,876 (3,147,876)N/A
IndirectN/A1,073,024 1,073,024 
DirectN/A586,841 586,841 
Home equityN/A1,488,011 1,488,011 
Total loans (2)
$47,902,819 $— $47,902,819 
Allowance for credit losses on loans(565,109)— (565,109)
Net loans$47,337,710 $— $47,337,710 
December 31, 2024
Commercial (1)
$10,288,560 $(232,301)$10,056,259 
Commercial real estate16,307,486 (174,438)16,133,048 
BBCCN/A406,739 406,739 
Residential real estate6,797,586 — 6,797,586 
Consumer2,892,255 (2,892,255)N/A
IndirectN/A1,096,778 1,096,778 
DirectN/A514,144 514,144 
Home equityN/A1,281,333 1,281,333 
Total loans (2)
$36,285,887 $— $36,285,887 
Allowance for credit losses on loans(392,522)— (392,522)
Net loans$35,893,365 $— $35,893,365 
(1)Includes direct finance leases of $96.3 million at June 30, 2025 and $120.6 million at December 31, 2024.
(2)    Includes unamortized premiums and discounts, and unamortized deferred fees and costs of $634.4 million at June 30, 2025 and $163.3 million at December 31, 2024.
Schedule of Activity in Allowance for Loan Losses Old National’s activity in the allowance for credit losses on loans 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 June 30, 2025  
Commercial$157,587 $30,492 $(16,805)$973 $43,670 $215,917 
Commercial real estate198,110 59,611 (9,438)123 45,897 294,303 
BBCC2,695 — (53)99 (253)2,488 
Residential real estate24,214 148 (247)150 7,585 31,850 
Indirect9,063 6 (1,766)905 222 8,430 
Direct2,053 47 (1,480)701 1,243 2,564 
Home equity8,210 138 (165)475 899 9,557 
Total$401,932 $90,442 $(29,954)$3,426 $99,263 $565,109 
Three Months Ended June 30, 2024
Commercial$123,437 $14,593 $(9,927)$462 $9,895 $138,460 
Commercial real estate160,640 8,483 (3,101)542 23,347 189,911 
BBCC3,163 — (935)230 439 2,897 
Residential real estate21,899 134 — 762 340 23,135 
Indirect1,218 — (1,084)335 764 1,233 
Direct2,952 59 (1,884)565 1,439 3,131 
Home equity6,404 653 (110)100 521 7,568 
Total$319,713 $23,922 $(17,041)$2,996 $36,745 $366,335 
Six Months Ended June 30, 2025
Commercial$148,722 $30,492 $(26,116)$2,253 $60,566 $215,917 
Commercial real estate200,309 59,611 (21,098)393 55,088 294,303 
BBCC2,813 — (57)399 (667)2,488 
Residential real estate22,922 148 (277)238 8,819 31,850 
Indirect8,434 6 (3,700)1,344 2,346 8,430 
Direct2,304 47 (3,081)1,213 2,081 2,564 
Home equity7,018 138 (165)510 2,056 9,557 
Total$392,522 $90,442 $(54,494)$6,350 $130,289 $565,109 
Six Months Ended June 30, 2024
Commercial$118,333 $14,593 $(13,586)$796 $18,324 $138,460 
Commercial real estate155,099 8,483 (9,742)1,577 34,494 189,911 
BBCC2,887 — (1,011)248 773 2,897 
Residential real estate20,837 134 — 781 1,383 23,135 
Indirect1,236 — (2,222)667 1,552 1,233 
Direct3,169 59 (4,312)1,052 3,163 3,131 
Home equity6,049 653 (188)145 909 7,568 
Total$307,610 $23,922 $(31,061)$5,266 $60,598 $366,335 
Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Allowance for credit losses on unfunded loan commitments: 
Balance at beginning of period$22,031 $26,264 $21,654 $31,226 
Provision for credit losses on unfunded loan commitments
   acquired during the period		6,458 1,763 6,458 1,763 
Provision (release) for credit losses on unfunded loan
   commitments		1,114 (2,294)1,491 (7,256)
Balance at end of period$29,603 $25,733 $29,603 $25,733 
Schedule of Risk Category of Loans and Amortized Cost
The following table summarizes the amortized cost of term loans by risk category of commercial, commercial real estate, and BBCC loans by loan portfolio segment, class of loan, and origination year:
(dollars in thousands)Origination YearRevolving to Term
20252024202320222021PriorRevolvingTotal
June 30, 2025
Commercial:
Pass$1,305,740 $2,173,224 $1,400,313 $1,254,431 $833,070 $1,746,219 $3,796,721 $641,312 $13,151,030 
Special Mention4,117 54,285 101,152 39,978 9,368 40,046 145,198 26,793 420,937 
Classified:
Substandard7,268 33,353 111,274 86,661 71,764 111,648 188,832 53,383 664,183 
Nonaccrual7 1,829 9,674 21,521 3,220 9,571 4,400 4,368 54,590 
Doubtful408 6,378 19,972 36,567 2,197 10,569 20,370 57,620 154,081 
Total$1,317,540 $2,269,069 $1,642,385 $1,439,158 $919,619 $1,918,053 $4,155,521 $783,476 $14,444,821 
Commercial real estate:
Pass$1,297,803 $2,333,656 $2,993,887 $3,787,067 $2,240,728 $5,790,999 $200,024 $889,312 $19,533,476 
Special Mention4,361 33,943 43,107 200,210 162,745 108,328 2,909 24,213 579,816 
Classified:
Substandard1,153 12,591 126,234 422,703 177,428 441,460 39,748 77,330 1,298,647 
Nonaccrual— 3,020 3,036 39,549 28,337 33,654 — 24,262 131,858 
Doubtful— — 7,806 12,585 18,332 89,564 — 32,520 160,807 
Total$1,303,317 $2,383,210 $3,174,070 $4,462,114 $2,627,570 $6,464,005 $242,681 $1,047,637 $21,704,604 
BBCC:
Pass$25,569 $57,920 $59,656 $40,620 $24,128 $85,692 $63,751 $17,712 $375,048 
Special Mention— 578 500 523 274 2,406 1,522 2,160 7,963 
Classified:
Substandard95 415 1,014 35 68 476 132 4,196 6,431 
Nonaccrual— — 33 68 270 517 — 324 1,212 
Doubtful— — 386 253 149 1,085 — 749 2,622 
Total$25,664 $58,913 $61,589 $41,499 $24,889 $90,176 $65,405 $25,141 $393,276 
Origination YearRevolving to Term
20242023202220212020PriorRevolvingTotal
December 31, 2024
Commercial:
Pass$1,852,046 $1,267,721 $1,145,488 $699,429 $450,332 $624,522 $2,577,941 $593,232 $9,210,711 
Special Mention46,935 102,372 32,250 40,221 21,538 20,535 80,625 28,978 373,454 
Classified:
Substandard27,139 49,340 77,835 35,036 19,307 25,503 78,210 40,217 352,587 
Nonaccrual2,221 1,072 4,199 1,530 604 1,357 719 829 12,531 
Doubtful3,419 20,145 27,016 1,774 5,451 1,494 15,405 32,272 106,976 
Total$1,931,760 $1,440,650 $1,286,788 $777,990 $497,232 $673,411 $2,752,900 $695,528 $10,056,259 
Commercial real estate:
Pass$2,196,306 $2,555,236 $3,825,305 $2,065,037 $1,362,703 $1,641,611 $122,708 $891,682 $14,660,588 
Special Mention72,020 31,203 158,254 48,524 37,693 64,357 — 111,900 523,951 
Classified:
Substandard47,079 55,923 249,269 102,913 39,466 142,110 996 76,897 714,653 
Nonaccrual3,693 411 3,579 15,922 1,930 3,231 — 118 28,884 
Doubtful7,787 9,689 16,501 37,455 22,817 59,879 — 50,844 204,972 
Total$2,326,885 $2,652,462 $4,252,908 $2,269,851 $1,464,609 $1,911,188 $123,704 $1,131,441 $16,133,048 
BBCC:
Pass$79,760 $78,420 $55,687 $33,857 $30,215 $22,797 $67,668 $16,265 $384,669 
Special Mention1,579 1,067 807 917 21 224 3,582 3,028 11,225 
Classified:
Substandard468 976 56 136 598 308 755 2,876 6,173 
Nonaccrual— 114 312 177 63 119 — 551 1,336 
Doubtful— 397 841 350 15 845 — 888 3,336 
Total$81,807 $80,974 $57,703 $35,437 $30,912 $24,293 $72,005 $23,608 $406,739 
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)20252024202320222021PriorRevolvingTotal
June 30, 2025
Residential real estate:
Risk Rating:
Performing$322,748 $609,589 $659,834 $1,777,593 $2,108,457 $2,672,799 $— $258 $8,151,278 
Nonperforming225 1,988 7,728 14,049 6,244 30,730 — — 60,964 
Total$322,973 $611,577 $667,562 $1,791,642 $2,114,701 $2,703,529 $— $258 $8,212,242 
Indirect:
Risk Rating:
Performing$211,857 $370,286 $221,363 $171,636 $64,620 $28,802 $— $— $1,068,564 
Nonperforming28 630 1,306 1,165 933 398 — — 4,460 
Total$211,885 $370,916 $222,669 $172,801 $65,553 $29,200 $— $— $1,073,024 
Direct:
Risk Rating:
Performing$36,359 $77,720 $60,193 $57,844 $53,698 $140,154 $149,619 $4,876 $580,463 
Nonperforming— 363 762 535 414 3,713 10 581 6,378 
Total$36,359 $78,083 $60,955 $58,379 $54,112 $143,867 $149,629 $5,457 $586,841 
Home equity:
Risk Rating:
Performing$4,181 $32 $251 $1,112 $579 $17,328 $1,400,491 $46,300 $1,470,274 
Nonperforming40 19 53 959 95 3,988 1,002 11,581 17,737 
Total$4,221 $51 $304 $2,071 $674 $21,316 $1,401,493 $57,881 $1,488,011 
Origination YearRevolving to Term
20242023202220212020PriorRevolvingTotal
December 31, 2024
Residential real estate:
Risk Rating:
Performing$509,704 $476,698 $1,455,085 $1,662,195 $1,574,961 $1,058,175 $43 $271 $6,737,132 
Nonperforming480 5,060 11,210 6,298 5,208 32,198 — — 60,454 
Total$510,184 $481,758 $1,466,295 $1,668,493 $1,580,169 $1,090,373 $43 $271 $6,797,586 
Indirect:
Risk Rating:
Performing$438,835 $279,910 $227,691 $92,223 $37,937 $14,810 $— $— $1,091,406 
Nonperforming714 1,147 1,498 1,378 373 262 — — 5,372 
Total$439,549 $281,057 $229,189 $93,601 $38,310 $15,072 $— $— $1,096,778 
Direct:
Risk Rating:
Performing$83,773 $72,838 $66,563 $61,317 $34,159 $80,188 $108,572 $3,327 $510,737 
Nonperforming96 313 365 352 468 1,730 1 82 3,407 
Total$83,869 $73,151 $66,928 $61,669 $34,627 $81,918 $108,573 $3,409 $514,144 
Home equity:
Risk Rating:
Performing$— $— $259 $210 $1,135 $11,005 $1,216,226 $31,787 $1,260,622 
Nonperforming— — 1,278 91 209 4,920 2,594 11,619 20,711 
Total$— $— $1,537 $301 $1,344 $15,925 $1,218,820 $43,406 $1,281,333 
The following table summarizes the gross charge-offs of loans by loan portfolio segment and origination year:
Origination Year
(dollars in thousands)20252024202320222021PriorRevolvingTotal
Three Months Ended June 30, 2025
Commercial$— $6,459 $676 $6,970 $583 $2,117 $— $16,805 
Commercial real estate— — — 1,205 4,000 4,233 — 9,438 
BBCC— — 13 31 9 — — 53 
Residential real estate— — — — — 247 — 247 
Indirect12 631 557 317 193 56 — 1,766 
Direct171 205 223 300 304 251 26 1,480 
Home equity— — — — — 165 — 165 
Total gross charge-offs$183 $7,295 $1,469 $8,823 $5,089 $7,069 $26 $29,954 
Origination Year
20242023202220212020PriorRevolvingTotal
Three Months Ended June 30, 2024
Commercial$— $2,358 $6,149 $389 $43 $566 $422 $9,927 
Commercial real estate— — 23 468 — 2,610 — 3,101 
BBCC— 605 153 35 112 30 — 935 
Residential real estate— — — — — — — — 
Indirect54 531 377 96 6 20 — 1,084 
Direct75 79 394 347 173 172 644 1,884 
Home equity— — — — — 110 — 110 
Total gross charge-offs$129 $3,573 $7,096 $1,335 $334 $3,508 $1,066 $17,041 
Origination Year
20252024202320222021PriorRevolvingTotal
Six Months Ended June 30, 2025
Commercial$— $6,881 $4,795 $11,056 $589 $2,795 $— $26,116 
Commercial real estate— — 303 1,956 11,996 6,843 — 21,098 
BBCC— — 13 31 13 — — 57 
Residential real estate— — — — — 277 — 277 
Indirect12 1,330 1,234 704 293 127 — 3,700 
Direct214 335 333 743 842 588 26 3,081 
Home equity— — — — — 165 — 165 
Total gross charge-offs$226 $8,546 $6,678 $14,490 $13,733 $10,795 $26 $54,494 
Origination Year
20242023202220212020PriorRevolvingTotal
Six Months Ended June 30, 2024
Commercial$— $2,358 $9,630 $422 $51 $570 $555 $13,586 
Commercial real estate— — 23 2,644 — 7,075 — 9,742 
BBCC— 605 229 35 112 30 — 1,011 
Residential real estate— — — — — — — — 
Indirect54 901 849 321 39 58 — 2,222 
Direct75 195 970 876 286 395 1,515 4,312 
Home equity— — — 34 — 154 — 188 
Total gross charge-offs$129 $4,059 $11,701 $4,332 $488 $8,282 $2,070 $31,061 
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
June 30, 2025
Commercial$26,962 $18,401 $62,918 $108,281 $14,336,540 $14,444,821 
Commercial real estate47,550 16,438 113,743 177,731 21,526,873 21,704,604 
BBCC2,173 230 2,393 4,796 388,480 393,276 
Residential33,354 14,188 37,414 84,956 8,127,286 8,212,242 
Indirect7,088 2,166 906 10,160 1,062,864 1,073,024 
Direct1,524 1,346 2,502 5,372 581,469 586,841 
Home equity6,053 4,133 7,167 17,353 1,470,658 1,488,011 
Total$124,704 $56,902 $227,043 $408,649 $47,494,170 $47,902,819 
December 31, 2024
Commercial$5,970 $12,021 $47,257 $65,248 $9,991,011 $10,056,259 
Commercial real estate19,240 12,728 60,145 92,113 16,040,935 16,133,048 
BBCC1,227 861 1,430 3,518 403,221 406,739 
Residential49,331 12,085 26,698 88,114 6,709,472 6,797,586 
Indirect9,700 2,675 1,463 13,838 1,082,940 1,096,778 
Direct2,004 970 1,470 4,444 509,700 514,144 
Home equity4,765 3,399 7,567 15,731 1,265,602 1,281,333 
Total$92,237 $44,739 $146,030 $283,006 $36,002,881 $36,285,887 
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:
June 30, 2025December 31, 2024
(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$208,671 $15,375 $3,680 $119,507 $30,551 $861 
Commercial real estate292,665 73,828 12,709 233,856 64,453 3,126 
BBCC3,834 — — 4,672 — — 
Residential60,964 — 225 60,454 — — 
Indirect4,460 — 233 5,372 — — 
Direct6,378 — 46 3,407 — — 
Home equity17,737 — — 20,711 — 73 
Total$594,709 $89,203 $16,893 $447,979 $95,004 $4,060 
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
June 30, 2025
Commercial$22,397 $142,003 $9,707 $6,286 $4,340 
Commercial real estate283,893 4,409 1,464 — 123 
BBCC2,389 694 310 196 — 
Residential60,964 — — — — 
Indirect— — — 4,460 — 
Direct4,761 20 4 319 22 
Home equity17,737 — — — — 
Total loans$392,141 $147,126 $11,485 $11,261 $4,485 
December 31, 2024
Commercial$17,520 $68,985 $6,980 $6,544 $5,215 
Commercial real estate228,952 542 1,046 — — 
BBCC3,201 1,137 86 248 — 
Residential60,454 — — — — 
Indirect— — — 5,372 — 
Direct2,623 16 23 396 34 
Home equity20,711 — — — — 
Total loans$333,461 $70,680 $8,135 $12,560 $5,249 
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		Total
Class of
Loans
Three Months Ended June 30, 2025
Commercial$39,797 0.3 %
Commercial real estate44,835 0.2 %
Total$84,632 0.2 %
Three Months Ended June 30, 2024
Commercial$3,859 0.0 %
Commercial real estate58,232 0.4 %
Total$62,091 0.2 %
Six Months Ended June 30, 2025
Commercial$94,248 0.7 %
Commercial real estate146,609 0.7 %
Total$240,857 0.5 %
Six Months Ended June 30, 2024
Commercial$14,867 0.1 %
Commercial real estate73,406 0.5 %
Total$88,273 0.2 %
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
June 30, 2025
Commercial$1,468 $2,449 $4,511 $8,428 $85,820 $94,248 
Commercial real estate6,311 — 4,566 10,877 135,732 146,609 
Total$7,779 $2,449 $9,077 $19,305 $221,552 $240,857 
June 30, 2024
Commercial$1,077 $2,813 $980 $4,870 $14,866 $19,736 
Commercial real estate8,854 5,077 27,017 40,948 72,083 113,031 
Total$9,931 $7,890 $27,997 $45,818 $86,949 $132,767 
The following table summarizes the nature of the financial difficulty modifications by class of loans:
(dollars in thousands)Weighted-
Average
Term
Extension
(in months)
Three Months Ended June 30, 2025
Commercial6.5
Commercial real estate9.8
Total8.2
Three Months Ended June 30, 2024
Commercial10.0
Commercial real estate10.6
Total10.6
Six Months Ended June 30, 2025
Commercial7.1
Commercial real estate8.4
Total7.9
Six Months Ended June 30, 2024
Commercial9.9
Commercial real estate9.2
Total9.3
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)
CapStar (2)
Purchase price of loans at acquisition$1,889,330 $610,691 
Allowance for credit losses at acquisition90,442 26,725 
Non-credit discount at acquisition75,817 41,886 
Par value of acquired loans at acquisition$2,055,589 $679,302 
(1)Old National acquired Bremer effective May 1, 2025.
(2)Old National acquired CapStar effective April 1, 2024.
v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Components of Lease Expense
The components of lease expense were as follows:
Affected Line
Item in the
Statement of Income		Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Operating lease costOccupancy/Equipment expense$8,960 $8,268 $17,159 $16,094 
Finance lease cost: 
Amortization of right-of-use assetsOccupancy expense2,276 1,488 4,546 2,239 
Interest on lease liabilitiesInterest expense212 253 441 434 
Sub-lease incomeOccupancy expense(106)(123)(189)(248)
Total $11,342 $9,886 $21,957 $18,519 
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows:
(dollars in thousands)June 30,
2025		December 31,
2024
Operating Leases 
Operating lease right-of-use assets$219,655 $181,920 
Operating lease liabilities237,610 200,068 
Finance Leases
Premises and equipment, net19,489 23,205 
Other borrowings21,207 24,822 
Weighted-Average Remaining Lease Term (in Years)
Operating leases9.07.8
Finance leases8.87.8
Weighted-Average Discount Rate
Operating leases3.69 %3.14 %
Finance leases4.04 %3.96 %
Schedule of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows:
Six Months Ended
June 30,
(dollars in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities: 
Operating cash flows from operating leases$18,019 $16,439 
Operating cash flows from finance leases441 434 
Financing cash flows from finance leases4,446 2,020 
Schedule of Maturity Analysis of Lease Liability by Lease Classification
The following table presents a maturity analysis of the Company’s lease liability by lease classification at June 30, 2025:
(dollars in thousands)Operating
Leases		Finance
Leases
2025$19,579 $4,350 
202638,797 2,619 
202737,232 2,656 
202833,242 2,339 
202930,649 1,498 
Thereafter122,718 11,979 
Total undiscounted lease payments282,217 25,441 
Amounts representing interest(44,607)(4,234)
Lease liability$237,610 $21,207 
v3.25.2
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
The following table presents the changes in the carrying amount of goodwill:
Three Months Ended
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Balance at beginning of period$2,175,251 $1,998,716 $2,175,251 $1,998,716 
Acquisitions and adjustments234,635 171,993 234,635 171,993 
Balance at end of period$2,409,886 $2,170,709 $2,409,886 $2,170,709 
Schedule of Gross Carrying Amounts and Accumulated Amortization of Other Intangible Assets
The gross carrying amounts and accumulated amortization of other intangible assets were as follows: 
(dollars in thousands)Gross
Carrying
Amount		Accumulated
Amortization
and Impairment		Net
Carrying
Amount
June 30, 2025   
Core deposit$586,735 $(119,268)$467,467 
Customer relationship93,892 (26,873)67,019 
Total other intangible assets$680,627 $(146,141)$534,486 
December 31, 2024
Core deposit$189,636 $(95,950)$93,686 
Customer relationship50,892 (23,731)27,161 
Total other intangible assets$240,528 $(119,681)$120,847 
Schedule of Estimated Amortization Expense for Future Years
Estimated amortization expense for future years is as follows:
(dollars in thousands) 
2025 remaining$52,200 
202696,109 
202784,810 
202873,689 
202962,983 
Thereafter164,695 
Total$534,486 
v3.25.2
Qualified Affordable Housing Projects and Other Tax Credit Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Securities Sold under Agreements to Repurchase [Abstract]  
Schedule of Qualified Affordable Housing Projects and Other Tax Credit Investments
The following table summarizes Old National’s investments in qualified affordable housing projects and other tax credit investments:
(dollars in thousands) June 30, 2025December 31, 2024
InvestmentAccounting MethodInvestment
Unfunded
Commitment (1)
InvestmentUnfunded
Commitment
Low Income Housing Tax Credit (“LIHTC”)Proportional amortization$234,674 $130,855 $199,350 $115,345 
Federal Historic Tax Credit (“FHTC”)Proportional amortization28,224 21,228 30,835 24,869 
New Markets Tax Credit (“NMTC”)Consolidation114,142 — 60,462 — 
Renewable EnergyEquity4 — 4 — 
Total $377,044 $152,083 $290,651 $140,214 
(1)All commitments will be paid by Old National by December 31, 2040.
The following table summarizes the amortization expense and tax benefit recognized for Old National’s qualified affordable housing projects and other tax credit investments:
(dollars in thousands)
Amortization
Expense (1)
Tax Expense
(Benefit)
Recognized (2)
Three Months Ended June 30, 2025  
LIHTC$3,205 $(4,516)
FHTC614 (723)
NMTC5,815 (7,049)
Total$9,634 $(12,288)
Three Months Ended June 30, 2024
LIHTC$2,780 $(3,743)
FHTC728 (690)
NMTC2,546 (3,175)
Renewable Energy11 — 
Total$6,065 $(7,608)
Six Months Ended June 30, 2025
LIHTC$6,409 $(8,815)
FHTC1,169 (1,418)
NMTC9,239 (11,309)
Total$16,817 $(21,542)
Six Months Ended June 30, 2024
LIHTC$5,265 $(7,074)
FHTC1,262 (1,353)
NMTC5,092 (6,350)
Renewable Energy197 — 
Total$11,816 $(14,777)
(1)The amortization expense for the LIHTC and FHTC investments is included in our income tax expense. NMTC amortization is recognized in noninterest expense in correlation to the recognition of tax credits on our tax return. Amortization expense for the Renewable Energy tax credits is included in noninterest expense.
(2)All of the tax benefits recognized are included in our income tax expense. The tax benefit recognized for the NMTC investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).
v3.25.2
Securities Sold Under Agreements to Repurchase (Tables)
 6 Months Ended
Jun. 30, 2025
Securities Sold under Agreements to Repurchase [Abstract]  
Schedule of Securities Sold Under Agreements to Repurchase and Weighted-Average Interest Rates The following table presents securities sold under agreements to repurchase and related weighted-average interest rates:
At or for the Six Months
Ended June 30,
(dollars in thousands)20252024
Outstanding at period end$297,637 $240,713 
Average amount outstanding during the period284,518 273,088 
Maximum amount outstanding at any month-end during the period311,335 319,423 
Weighted-average interest rate:
During the period0.84 %1.15 %
At period end0.91 %3.41 %
Schedule of Remaining Contractual Maturity of Secured Borrowings and Class of Collateral Pledged Under Repurchase Agreements
The following table presents the contractual maturity of our secured borrowings and class of collateral pledged:
 At June 30, 2025
 Remaining Contractual Maturity of the Agreements
(dollars in thousands)Overnight and ContinuousUp to
30 Days		 30-90 DaysGreater Than 90 daysTotal
Repurchase Agreements:     
U.S. Treasury and agency securities$297,637 $— $— $— $297,637 
Total$297,637 $— $— $— $297,637 
v3.25.2
Federal Home Loan Bank Advances (Tables)
 6 Months Ended
Jun. 30, 2025
Federal Home Loan Banks [Abstract]  
Summary of FHLB Advances
The following table summarizes Old National Bank’s FHLB advances:
(dollars in thousands)June 30,
2025		December 31,
2024
FHLB advances (fixed rates 2.25% to 5.20%
   and variable rates 4.28% to 4.48%) maturing
   August 2025 to January 2045
$5,830,200 $4,475,285 
Fair value hedge basis adjustments and unamortized
   prepayment fees		5,718 (22,726)
Total$5,835,918 $4,452,559 
Summary of Contractual Maturities of FHLB Advances
Contractual maturities of FHLB advances at June 30, 2025 were as follows:
(dollars in thousands) 
Due in 2025$1,625,000 
Due in 2026230,000 
Due in 2027141,000 
Due in 2028748,000 
Due in 2029906,000 
Thereafter2,180,200 
Fair value hedge basis adjustments and unamortized prepayment fees5,718 
Total$5,835,918 
v3.25.2
Other Borrowings (Tables)
 6 Months Ended
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]  
Summary of Other Borrowings
The following table summarizes Old National’s other borrowings:
(dollars in thousands)June 30,
2025		December 31,
2024
Old National Bancorp:  
Subordinated debentures (fixed rate 5.88%) maturing September 2026
$150,000 $150,000 
Subordinated debentures (fixed rate 9.69%) maturing June 2030
30,000 30,000 
Junior subordinated debentures (rates of 5.98% to 8.12%) maturing
   July 2031 to September 2037
198,499 136,643 
Other basis adjustments10,470 13,049 
Old National Bank:
Finance lease liabilities21,207 24,822 
Subordinated debentures (3-month Secured Overnight Financing
   Rate (“SOFR”) plus 4.618%; variable rate 8.90%) maturing October 2025
12,000 12,000 
Leveraged loans for NMTC (fixed rates of 1.00% to 7.25%)
   maturing December 2027 to June 2060
398,493 210,251 
Other (1)
51,628 112,853 
Total other borrowings$872,297 $689,618 
(1)Includes overnight borrowings to collateralize certain derivative positions totaling $51.6 million at June 30, 2025 and $112.8 million at December 31, 2024.
The following table summarizes the terms of our outstanding junior subordinated debentures at June 30, 2025:
(dollars in thousands)   
Rate at
June 30,
2025
 
Name of TrustIssuance DateIssuance
Amount		RateMaturity Date
Bridgeview Statutory Trust IJuly 2001$15,464 
3-month SOFR plus 3.58%
8.12%July 31, 2031
Bridgeview Capital Trust IIDecember 200215,464 
3-month SOFR plus 3.35%
7.87%January 7, 2033
First Midwest Capital Trust INovember 200337,825 
6.95% fixed
6.95%December 1, 2033
St. Joseph Capital Trust IIMarch 20055,155 
3-month SOFR plus 1.75%
6.32%March 17, 2035
Northern States Statutory Trust ISeptember 200510,310 
3-month SOFR plus 1.80%
6.38%September 15, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month SOFR plus 1.55%
6.11%September 30, 2035
Great Lakes Statutory Trust IIDecember 20056,186 
3-month SOFR plus 1.40%
5.98%December 15, 2035
Bremer Statutory Trust IIJune 200661,856 
3-month SOFR plus 1.60%
6.19%June 1, 2036
Home Federal Statutory
   Trust I		September 200615,464 
3-month SOFR plus 1.65%
6.23%September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,093 
3-month SOFR plus 1.60%
6.12%October 7, 2036
Tower Capital Trust 3December 20069,279 
3-month SOFR plus 1.69%
6.28%March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,155 
3-month SOFR plus 1.60%
6.18%June 15, 2037
Great Lakes Statutory Trust IIIJune 20078,248 
3-month SOFR plus 1.70%
6.28%September 15, 2037
Total$198,499 
The following table summarizes Old National Bank’s unfunded loan commitments and standby letters of credit:
(dollars in thousands)June 30,
2025		December 31,
2024
Unfunded loan commitments (1)
$11,405,665 $8,533,433 
Standby letters of credit (2)
267,722 194,323 
(1)Excludes cancellable loan commitments of $2.9 billion at June 30, 2025 and $2.5 billion at December 31, 2024.
(2)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.8 million at June 30, 2025 and $1.7 million at December 31, 2024.
Summary of Contractual Maturities of Other Borrowings
Contractual maturities of other borrowings at June 30, 2025 were as follows:
(dollars in thousands) 
Due in 2025$67,580 
Due in 2026151,976 
Due in 202718,783 
Due in 20281,846 
Due in 20291,059 
Thereafter620,553 
Unamortized debt issuance costs and other basis adjustments10,500 
Total$872,297 
v3.25.2
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of AOCI
The following table summarizes the changes within each classification of AOCI, net of tax:
(dollars in thousands)Unrealized
Gains and
Losses on
Available-for-Sale Debt
Securities		Unrecognized
Gains and
Losses on
Held-to-Maturity
Securities		Gains and
Losses on
Hedges		Total
Three Months Ended June 30, 2025    
Balance at beginning of period$(582,779)$(79,373)$13,643 $(648,509)
Other comprehensive income (loss) before reclassifications40,590 — 3,365 43,955 
Amounts reclassified from AOCI to income (1)
31 3,037 1,878 4,946 
Balance at end of period$(542,158)$(76,336)$18,886 $(599,608)
Three Months Ended June 30, 2024
Balance at beginning of period$(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)$(791,408)
Six Months Ended June 30, 2025
Balance at beginning of period$(668,063)$(82,294)$4,314 $(746,043)
Other comprehensive income (loss) before reclassifications125,818 — 11,807 137,625 
Amounts reclassified from AOCI to income (1)
87 5,958 2,765 8,810 
Balance at end of period$(542,158)$(76,336)$18,886 $(599,608)
Six Months Ended June 30, 2024
Balance at beginning of period$(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)
(1)See table below for details about reclassifications to income.
Schedule of Reclassifications out of AOCI
The following table summarizes the amounts reclassified out of each component of AOCI for the three months ended June 30, 2025 and 2024:
 Three Months Ended
June 30,		 
(dollars in thousands)20252024 
Details about AOCI ComponentsAmount Reclassified
from AOCI		Affected Line Item in the
Statement of Income
Unrealized gains and losses on
   available-for-sale securities		$(41)$2 Debt securities gains (losses), net
 10 — Income tax (expense) benefit
 $(31)$2 Net income
Amortization of unrecognized losses on
   held-to-maturity securities transferred
   from available-for-sale		$(4,069)$(4,376)Interest income (expense)
 1,032 1,111 Income tax (expense) benefit
 $(3,037)$(3,265)Net income
Gains and losses on hedges
   Interest rate contracts		$(2,533)$(4,747)Interest income (expense)
 655 1,228 Income tax (expense) benefit
 $(1,878)$(3,519)Net income
Total reclassifications for the period$(4,946)$(6,782)Net income
The following table summarizes the amounts reclassified out of each component of AOCI for the six months ended June 30, 2025 and 2024:
 Six Months Ended
June 30,		 
(dollars in thousands)20252024 
Details about AOCI ComponentsAmount Reclassified
from AOCI		Affected Line Item in the
Statement of Income
Unrealized gains and losses on
   available-for-sale securities		$(117)$(14)Debt securities gains (losses), net
 30 4 Income tax (expense) benefit
 $(87)$(10)Net income
Amortization of unrecognized losses on
   held-to-maturity securities transferred
   from available-for-sale		$(7,984)$(8,694)Interest income (expense)
 2,026 2,208 Income tax (expense) benefit
 $(5,958)$(6,486)Net income
Gains and losses on hedges
   Interest rate contracts		$(3,729)$(9,624)Interest income (expense)
 964 2,489 Income tax (expense) benefit
 $(2,765)$(7,135)Net income
Total reclassifications for the period$(8,810)$(13,631)Net income
v3.25.2
Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Summary of Differences in Taxes from Continuing Operations Computed at Statutory Rate
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
June 30,		Six Months Ended
June 30,
(dollars in thousands)2025202420252024
Provision at statutory rate of 21%
$32,698 $32,861 $70,826 $64,943 
Tax-exempt income:
Tax-exempt interest(5,599)(5,027)(9,851)(9,985)
Section 291/265 interest disallowance1,364 957 2,033 1,841 
Company-owned life insurance income(1,397)(1,178)(2,532)(1,872)
Tax-exempt income(5,632)(5,248)(10,350)(10,016)
State income taxes5,094 6,333 11,995 11,480 
Interim period effective rate adjustment(159)(70)(306)873 
Tax credit investments - federal(5,156)(3,106)(9,258)(6,160)
Officer compensation limitation1,436 1,491 1,808 2,256 
Non-deductible FDIC premiums2,816 2,032 4,853 3,779 
Other, net(799)957 (2,366)583 
Income tax expense$30,298 $35,250 $67,202 $67,738 
Effective tax rate19.5 %22.5 %19.9 %21.9 %
v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Derivatives
The following table summarizes Old National’s derivatives designated as hedges:
June 30, 2025December 31, 2024
Fair ValueFair Value
(dollars in thousands)Notional
Assets (1)
Liabilities (2)
Notional
Assets (1)
Liabilities (2)
Cash flow hedges
Interest rate swaps, collars, and floors on loan
   pools		$1,900,000 $13,401 $2,780 $1,900,000 $3,490 $11,196 
Interest rate swaps on borrowings (3)
50,000 — — 150,000 — — 
Fair value hedges
Interest rate swaps on investment securities (3)
927,407 — — 927,407 — — 
Interest rate swaps on borrowings (3)
1,100,000 5,280 — 1,100,000 665 — 
Total$18,681 $2,780 $4,155 $11,196 
(1)Derivative assets are included in other assets on the balance sheet.
(2)Derivative liabilities are included in other liabilities on the balance sheet.
(3)The fair values of certain counterparty interest rate swaps are zero due to the settlement of centrally cleared variation margin rules.
Schedule of Derivative Instruments Effect on Consolidated Statement of Income
The effect of derivative instruments in fair value hedging relationships on the consolidated statements of income were as follows:
(dollars in thousands)Gain (Loss)
Recognized
in Income on
Related
Hedged
Items
Derivatives in
Fair Value Hedging
Relationships		Location of Gain or
(Loss) Recognized in
Income on Derivative		Gain (Loss)
Recognized
in Income on
Derivative		Hedged Items
in Fair Value
Hedging
Relationships		Location of Gain or
(Loss) Recognized in
in Income on Related
Hedged Item
Three Months Ended
June 30, 2025
Interest rate contractsInterest income/(expense)$6,088 Fixed-rate debtInterest income/(expense)$(6,075)
Interest rate contractsInterest income/(expense)(8,579)Fixed-rate
investment
securities		Interest income/(expense)8,564 
Total$(2,491)$2,489 
Three Months Ended
June 30, 2024
Interest rate contractsInterest income/(expense)$(317)Fixed-rate debtInterest income/(expense)$272 
Interest rate contractsInterest income/(expense)2,836 Fixed-rate
investment
securities		Interest income/(expense)(2,809)
Total$2,519 $(2,537)
Six Months Ended
June 30, 2025
Interest rate contractsInterest income/(expense)$15,064 Fixed-rate debtInterest income/(expense)$(15,007)
Interest rate contractsInterest income/(expense)(27,746)Fixed-rate
investment
securities		Interest income/(expense)27,711 
Total$(12,682)$12,704 
Six Months Ended
June 30, 2024
Interest rate contractsInterest income/(expense)$(14,288)Fixed-rate debtInterest income/(expense)$14,399 
Interest rate contractsInterest income/(expense)28,684 Fixed-rate
investment
securities		Interest income/(expense)(28,714)
Total$14,396 $(14,315)
The effect of derivative instruments in cash flow hedging relationships on the consolidated statements of income were as follows:
Three Months Ended
June 30,		Three Months Ended
June 30,
(dollars in thousands) 2025202420252024
Derivatives in
Cash Flow Hedging
Relationships		Location of Gain or
(Loss) Reclassified
from AOCI into Income		Gain (Loss)
Recognized in Other
Comprehensive
Income on Derivative		Gain (Loss)
Reclassified from
AOCI into
Income
Interest rate contractsInterest income/(expense)$4,538 $(7,035)$(3,632)$(5,781)
  Six Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Derivatives in
Cash Flow Hedging
Relationships		Location of Gain or
(Loss) Reclassified
from AOCI into Income		Gain (Loss)
Recognized in Other
Comprehensive
Income on Derivative		Gain (Loss)
Reclassified from
AOCI into
Income
Interest rate contractsInterest income/(expense)$15,925 $(26,194)$(5,927)$(11,692)
The effect of derivatives not designated as hedging instruments on the consolidated statements of income were as follows:
Three Months Ended
June 30,
(dollars in thousands) 20252024
Derivatives Not Designated as
Hedging Instruments		Location of Gain or (Loss)
Recognized in Income on
Derivative		Gain (Loss)
Recognized in Income on
Derivative
Interest rate contracts (1)
Other income/(expense)$123 $(160)
Mortgage contractsMortgage banking revenue(122)(693)
Foreign currency contractsOther income/(expense)(66)(47)
Total $(65)$(900)
  Six Months Ended
June 30,
 20252024
Derivatives Not Designated as
Hedging Instruments		Location of Gain or (Loss)
Recognized in Income on
Derivative		Gain (Loss)
Recognized in Income on
Derivative
Interest rate contracts (1)
Other income/(expense)$147 $408 
Mortgage contractsMortgage banking revenue(503)44 
Foreign currency contractsOther income/(expense)13 (81)
Total $(343)$371 
(1)Includes the valuation differences between the customer and offsetting swaps.
Summary of Derivatives Not Designated as Hedging Instruments
The following table summarizes Old National’s derivatives not designated as hedges:
June 30, 2025December 31, 2024
Fair ValueFair Value
(dollars in thousands)Notional
Assets (1)
Liabilities (2)
Notional
Assets (1)
Liabilities (2)
Interest rate lock commitments$105,050 $903 $— $57,380 $— $166 
Forward mortgage loan contracts177,471 — 837 88,808 807 — 
Customer interest rate swaps9,023,697 67,990 216,304 6,255,123 12,827 219,926 
Counterparty interest rate swaps (3)
9,023,697 89,996 68,362 6,255,123 128,469 12,902 
Customer foreign currency contracts10,044 445 39 10,265 28 121 
Counterparty foreign currency contracts10,175 49 367 10,093 192 2 
Total$159,383 $285,909 $142,323 $233,117 
(1)Derivative assets are included in other assets on the balance sheet.
(2)Derivative liabilities are included in other liabilities on the balance sheet.
(3)The fair values of certain counterparty interest rate swaps are zero due to the settlement of centrally cleared variation margin rules.
Schedule of Offsetting Assets The following table presents the fair value of the Company’s derivatives and offsetting positions:
June 30, 2025December 31, 2024
(dollars in thousands)AssetsLiabilitiesAssetsLiabilities
Gross amounts recognized$178,064 $288,689 $146,478 $244,313 
Less: amounts offset in the Consolidated Balance Sheet— — — — 
Net amount presented in the Consolidated Balance Sheet178,064 288,689 146,478 244,313 
Gross amounts not offset in the Consolidated Balance Sheet
Offsetting derivative positions(71,142)(71,142)(24,098)(24,098)
Cash collateral pledged(7,901)(51,759)— (112,499)
Net credit exposure$99,021 $165,788 $122,380 $107,716 
Schedule of Offsetting Liabilities The following table presents the fair value of the Company’s derivatives and offsetting positions:
June 30, 2025December 31, 2024
(dollars in thousands)AssetsLiabilitiesAssetsLiabilities
Gross amounts recognized$178,064 $288,689 $146,478 $244,313 
Less: amounts offset in the Consolidated Balance Sheet— — — — 
Net amount presented in the Consolidated Balance Sheet178,064 288,689 146,478 244,313 
Gross amounts not offset in the Consolidated Balance Sheet
Offsetting derivative positions(71,142)(71,142)(24,098)(24,098)
Cash collateral pledged(7,901)(51,759)— (112,499)
Net credit exposure$99,021 $165,788 $122,380 $107,716 
v3.25.2
Commitments, Contingencies, and Financial Guarantees (Tables)
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary of Loan Commitments
The following table summarizes Old National’s other borrowings:
(dollars in thousands)June 30,
2025		December 31,
2024
Old National Bancorp:  
Subordinated debentures (fixed rate 5.88%) maturing September 2026
$150,000 $150,000 
Subordinated debentures (fixed rate 9.69%) maturing June 2030
30,000 30,000 
Junior subordinated debentures (rates of 5.98% to 8.12%) maturing
   July 2031 to September 2037
198,499 136,643 
Other basis adjustments10,470 13,049 
Old National Bank:
Finance lease liabilities21,207 24,822 
Subordinated debentures (3-month Secured Overnight Financing
   Rate (“SOFR”) plus 4.618%; variable rate 8.90%) maturing October 2025
12,000 12,000 
Leveraged loans for NMTC (fixed rates of 1.00% to 7.25%)
   maturing December 2027 to June 2060
398,493 210,251 
Other (1)
51,628 112,853 
Total other borrowings$872,297 $689,618 
(1)Includes overnight borrowings to collateralize certain derivative positions totaling $51.6 million at June 30, 2025 and $112.8 million at December 31, 2024.
The following table summarizes the terms of our outstanding junior subordinated debentures at June 30, 2025:
(dollars in thousands)   
Rate at
June 30,
2025
 
Name of TrustIssuance DateIssuance
Amount		RateMaturity Date
Bridgeview Statutory Trust IJuly 2001$15,464 
3-month SOFR plus 3.58%
8.12%July 31, 2031
Bridgeview Capital Trust IIDecember 200215,464 
3-month SOFR plus 3.35%
7.87%January 7, 2033
First Midwest Capital Trust INovember 200337,825 
6.95% fixed
6.95%December 1, 2033
St. Joseph Capital Trust IIMarch 20055,155 
3-month SOFR plus 1.75%
6.32%March 17, 2035
Northern States Statutory Trust ISeptember 200510,310 
3-month SOFR plus 1.80%
6.38%September 15, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month SOFR plus 1.55%
6.11%September 30, 2035
Great Lakes Statutory Trust IIDecember 20056,186 
3-month SOFR plus 1.40%
5.98%December 15, 2035
Bremer Statutory Trust IIJune 200661,856 
3-month SOFR plus 1.60%
6.19%June 1, 2036
Home Federal Statutory
   Trust I		September 200615,464 
3-month SOFR plus 1.65%
6.23%September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,093 
3-month SOFR plus 1.60%
6.12%October 7, 2036
Tower Capital Trust 3December 20069,279 
3-month SOFR plus 1.69%
6.28%March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,155 
3-month SOFR plus 1.60%
6.18%June 15, 2037
Great Lakes Statutory Trust IIIJune 20078,248 
3-month SOFR plus 1.70%
6.28%September 15, 2037
Total$198,499 
The following table summarizes Old National Bank’s unfunded loan commitments and standby letters of credit:
(dollars in thousands)June 30,
2025		December 31,
2024
Unfunded loan commitments (1)
$11,405,665 $8,533,433 
Standby letters of credit (2)
267,722 194,323 
(1)Excludes cancellable loan commitments of $2.9 billion at June 30, 2025 and $2.5 billion at December 31, 2024.
(2)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $1.8 million at June 30, 2025 and $1.7 million at December 31, 2024.
v3.25.2
Fair Value (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which we have elected the fair value option, are summarized below: 
Fair Value Measurements at June 30, 2025 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets for
Identical Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
Equity securities$121,025 $121,025 $— $— 
Investment securities available-for-sale:
U.S. Treasury261,292 261,292 — — 
U.S. government-sponsored entities and agencies1,347,779 — 1,347,779 — 
Mortgage-backed securities - Agency8,690,742 — 8,690,742 — 
States and political subdivisions441,880 — 441,880 — 
Pooled trust preferred securities11,319 — 11,319 — 
Other securities252,184 — 252,184 — 
Loans held-for-sale77,618 — 77,618 — 
Derivative assets178,064 — 178,064 — 
Financial Liabilities
Derivative liabilities288,689 — 288,689 — 
  Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets for
Identical Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
Equity securities$91,996 $91,996 $— $— 
Investment securities available-for-sale:
U.S. Treasury199,013 199,013 — — 
U.S. government-sponsored entities and agencies1,257,906 — 1,257,906 — 
Mortgage-backed securities - Agency5,204,891 — 5,204,891 — 
States and political subdivisions485,544 — 485,544 — 
Pooled trust preferred securities11,322 — 11,322 — 
Other securities299,783 — 299,783 — 
Loans held-for-sale34,483 — 34,483 — 
Derivative assets146,478 — 146,478 — 
Financial Liabilities
Derivative liabilities244,313 — 244,313 — 
Schedule of Assets Measured at Fair Value on a Non-Recurring Basis
Assets measured at fair value at June 30, 2025 on a non-recurring basis are summarized below:
  Fair Value Measurements at June 30, 2025 Using
(dollars in thousands)Carrying
Value		Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral Dependent Loans:    
Commercial loans$51,725 $— $— $51,725 
Commercial real estate loans108,763 — — 108,763 
Foreclosed Assets:
Commercial975 — — 975 
Residential1,809 — — 1,809 
Assets measured at fair value at December 31, 2024 on a non-recurring basis are summarized below:
  Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets for
Identical Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
Collateral Dependent Loans:    
Commercial loans$33,658 $— $— $33,658 
Commercial real estate loans121,393 — — 121,393 
Foreclosed Assets:
Commercial real estate975 — — 975 
Residential244 — — 244 
Schedule of Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements
The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy:
(dollars in thousands)Fair ValueValuation TechniquesUnobservable Input
Range (Weighted Average) (1)
June 30, 2025    
Collateral Dependent Loans    
Commercial loans$51,725 DiscountedDiscount for type of property,
11% - 50% (30%)
 cash flowage of appraisal, and current status
Commercial real estate loans108,763 DiscountedDiscount for type of property,
0% - 32% (11%)
cash flowage of appraisal, and current status
Foreclosed Assets
Commercial real estate975 Fair value ofDiscount for type of property,28%
collateralage of appraisal, and current status
Residential (2)
1,809 Fair value ofDiscount for type of property,
24% (24%)
collateralage of appraisal, and current status
December 31, 2024  
Collateral Dependent Loans  
Commercial loans$33,658 DiscountedDiscount for type of property,
9% - 49% (31%)
 cash flowage of appraisal, and current status
Commercial real estate loans121,393 DiscountedDiscount for type of property,
3% - 46% (18%)
 cash flowage of appraisal, and current status
Foreclosed Assets  
Commercial real estate (2)
975 Fair value ofDiscount for type of property,
28%
collateralage of appraisal, and current status
Residential (2)
244 Fair value ofDiscount for type of property,
24%
  collateralage of appraisal, and current status 
(1)Unobservable inputs were weighted by the relative fair value of the instruments.
(2)There was only one foreclosed commercial real estate property at June 30, 2025 and December 31, 2024 with write-downs during the six months ended June 30, 2025 and the year ended December 31, 2024, respectively, so no range or weighted average is reported.
Schedule of Difference Between the Aggregate Fair Value and the Aggregate Remaining Principal Balance
The difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows: 
(dollars in thousands)Aggregate
Fair Value		Difference Contractual Principal
June 30, 2025   
Loans held-for-sale$77,618 $1,749 $75,869 
December 31, 2024
Loans held-for-sale$34,483 $271 $34,212 
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value:
(dollars in thousands)Other
Gains and (Losses)		Interest IncomeInterest (Expense)Total Changes
in Fair Values
Included in
Current Period Earnings
Three Months Ended June 30, 2025    
Loans held-for-sale$783 $101 $— $884 
Three Months Ended June 30, 2024
Loans held-for-sale$105 $6 $— $111 
Six Months Ended June 30, 2025
Loans held-for-sale$1,386 $101 $(9)$1,478 
Six Months Ended June 30, 2024
Loans held-for-sale$(97)$6 $(5)$(96)
Carrying Amounts and Estimated Fair Values of Financial Instruments, Not Carried at Fair Value
The carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows: 
  Fair Value Measurements at June 30, 2025 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets
for Identical
Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
Financial Assets    
Cash, due from banks, money market,
   and other interest-earning investments		$1,808,571 $1,808,571 $— $— 
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies836,662 — 694,377 — 
Mortgage-backed securities - Agency941,464 — 796,079 — 
State and political subdivisions1,148,242 — 979,891 — 
Loans, net:
Commercial14,445,657 — — 14,450,834 
Commercial real estate21,584,336 — — 21,549,689 
Residential real estate8,180,392 — — 7,426,652 
Consumer credit3,127,325 — — 2,991,794 
Accrued interest receivable270,373 898 76,033 193,442 
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits$12,652,556 $12,652,556 $— $— 
Checking, NOW, savings, and money market
   interest-bearing deposits		32,493,898 32,493,898 — — 
Time deposits9,211,229 — 9,169,678 — 
Federal funds purchased and interbank borrowings340,246 340,246 — — 
Securities sold under agreements to repurchase297,637 297,637 — — 
FHLB advances5,835,918 — 5,796,841 — 
Other borrowings872,297 — 874,585 — 
Accrued interest payable67,275 — 67,275 — 
Standby letters of credit1,804 — — 1,804 
Off-Balance Sheet Financial Instruments
Commitments to extend credit$— $— $— $6,271 
  Fair Value Measurements at December 31, 2024 Using
(dollars in thousands)Carrying ValueQuoted Prices in
Active Markets
for Identical
Assets (Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
Financial Assets    
Cash, due from banks, money market,
   and other interest-earning investments		$1,227,968 $1,227,968 $— $— 
Investment securities held-to-maturity:
U.S. government-sponsored entities and agencies832,984 — 664,331 — 
Mortgage-backed securities - Agency970,212 — 800,666 — 
State and political subdivisions1,151,685 — 1,006,141 — 
Loans, net:
Commercial10,138,241 — — 10,158,299 
Commercial real estate16,105,961 — — 15,961,968 
Residential real estate6,774,664 — — 6,080,709 
Consumer credit2,874,499 — — 2,800,060 
Accrued interest receivable233,010 912 60,459 171,639 
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits$9,399,019 $9,399,019 $— $— 
Checking, NOW, savings, and money market
   interest-bearing deposits		24,668,802 24,668,802 — — 
Time deposits6,755,739 — 6,727,453 — 
Federal funds purchased and interbank borrowings385 385 —— 
Securities sold under agreements to repurchase268,975 268,975 —— 
FHLB advances4,452,559 — 4,340,188 — 
Other borrowings689,618 — 689,246 — 
Accrued interest payable65,057 — 65,057 — 
Standby letters of credit1,742 — — 1,742 
Off-Balance Sheet Financial Instruments
Commitments to extend credit$— $— $— $3,403 
v3.25.2
Acquisition and Divestiture Activity - Additional Information (Details)
 3 Months Ended 6 Months Ended
May 01, 2025
USD ($)
$ / shares
shares
Nov. 25, 2024
USD ($)
shares
Apr. 01, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Business Combination [Line Items]              
Purchase price of loans at acquisition     $ 610,700,000        
Par value of acquired loans at acquisition     679,300,000        
Allowance for credit losses at acquisition     26,700,000        
Bremer              
Business Combination [Line Items]              
Cash per share above exchange (in dollars per share) | $ / shares $ 26.22            
Shares exchange ratio 4.182            
Expected tax deductible amount $ 0            
Other intangible assets 440,099,000            
Purchase price of loans at acquisition 1,900,000,000   1,889,330,000        
Par value of acquired loans at acquisition 2,100,000,000   2,055,589,000        
Allowance for credit losses at acquisition 90,400,000   90,442,000 $ 90,400,000      
Transaction costs, expensed       40,200,000   $ 40,900,000  
Payments for merger related costs       40,200,000   40,900,000  
Provision (release) for credit losses on unfunded loan commitments       6,500,000      
Allowance for credit loss, loan purchased       69,100,000      
Adjustment, freezing of benefits       21,000,000.0     $ 21,000,000.0
Business combination, provisional information, initial accounting incomplete, adjustment, financial liabilities           6,500,000  
Business combination, provisional information, initial accounting incomplete, adjustment, financial assets           69,100,000  
Bremer | Core deposit              
Business Combination [Line Items]              
Other intangible assets $ 397,100,000            
Estimated useful lives 10 years            
Bremer | Customer relationship              
Business Combination [Line Items]              
Other intangible assets $ 43,000,000.0            
Estimated useful lives 12 years            
Bremer | Citibank, N.A              
Business Combination [Line Items]              
Forward contract indexed to issuer's equity (in shares) | shares   19,047,619          
Forward contract indexed to equity, settlement, cash   $ 400,000,000          
Bremer | Citigroup Global Markets Inc.              
Business Combination [Line Items]              
Forward contract indexed to issuer's equity (in shares) | shares 21,904,762            
Forward contract indexed to equity, settlement, cash $ 443,200,000            
Additional number of shares to purchase (in shares) | shares   2,857,143          
Additional number of shares (in shares) | shares   2,857,143          
CapStar Financial Holdings, Inc.              
Business Combination [Line Items]              
Other intangible assets     46,125,000        
Purchase price of loans at acquisition     610,691,000        
Par value of acquired loans at acquisition     679,302,000        
Allowance for credit losses at acquisition     $ 26,725,000        
Transaction costs, expensed       $ 1,000,000 $ 19,400,000 $ 1,300,000 $ 22,300,000
CapStar Financial Holdings, Inc. | Core deposit              
Business Combination [Line Items]              
Estimated useful lives     10 years        
v3.25.2
Acquisition and Divestiture Activity - Total Consideration (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
May 01, 2025
Apr. 01, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Assets                    
Goodwill     $ 2,409,886 $ 2,170,709 $ 2,409,886 $ 2,170,709 $ 2,175,251 $ 2,175,251 $ 1,998,716 $ 1,998,716
Liabilities                    
Securities sold under agreements to repurchase     297,637 240,713 297,637 240,713   $ 268,975    
Fair value of consideration                    
Issuance of common stock (in shares)     1,033,262 417,598 $ 1,033,262 $ 417,598        
Common Stock                    
Fair value of consideration                    
Issuance of common stock (in shares)     $ 50,183 $ 24,014            
Bremer                    
Assets                    
Cash and cash equivalents $ 511,157                  
Equity securities 26,070                  
Investment securities 2,811,133                  
FHLB/Federal Reserve Bank stock 93,924                  
Loans held-for-sale 9,883                  
Loans, net of allowance for credit losses 11,123,355                  
Premises and equipment 100,489                  
Goodwill 234,635                  
Other intangible assets 440,099                  
Company-owned life insurance 181,909                  
Other assets 770,925                  
Total assets 16,303,579                  
Liabilities                    
Deposits 12,880,842                  
Securities sold under agreements to repurchase 49,131                  
Federal Home Loan Bank advances 1,559,227                  
Other borrowings 193,279                  
Accrued expenses and other liabilities 273,205                  
Total liabilities 14,955,684                  
Fair value of consideration                    
Cash 314,633                  
Total consideration 1,347,895                  
Bremer | Common Stock                    
Fair value of consideration                    
Issuance of common stock (in shares) $ 1,033,262                  
Issuance of common stock shares for acquisitions of business (in shares) 50,183,000                  
Share price (in dollars per share) $ 20.67                  
CapStar Financial Holdings, Inc.                    
Assets                    
Cash and cash equivalents   $ 177,791                
Investment securities   342,490                
FHLB/Federal Reserve Bank stock   14,426                
Loans held-for-sale   21,159                
Loans, net of allowance for credit losses   2,120,627                
Premises and equipment   22,481                
Goodwill   176,535                
Other intangible assets   46,125                
Company-owned life insurance   91,475                
Other assets   95,922                
Total assets   3,109,031                
Liabilities                    
Deposits   2,560,124                
Federal Home Loan Bank advances   75,000                
Other borrowings   30,000                
Accrued expenses and other liabilities   26,309                
Total liabilities   2,691,433                
Fair value of consideration                    
Total consideration   417,598                
CapStar Financial Holdings, Inc. | Common Stock                    
Fair value of consideration                    
Issuance of common stock (in shares)   $ 417,598                
Issuance of common stock shares for acquisitions of business (in shares)   24,014,000                
Share price (in dollars per share)   $ 17.41                
v3.25.2
Acquisition and Divestiture Activity - Schedule of Unaudited Pro-Forma Financial Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]        
Total revenues $ 694,351 $ 660,328 $ 1,363,086 $ 1,295,485
Income before income taxes $ 229,090 $ 180,291 $ 482,014 $ 339,091
v3.25.2
Net Income Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share [Abstract]            
Net income $ 125,408 $ 144,659 $ 121,229 $ 120,284 $ 270,067 $ 241,513
Preferred dividends (4,033)   (4,033)   (8,067) (8,067)
Net income applicable to common shareholders $ 121,375   $ 117,196   $ 262,000 $ 233,446
Weighted average common shares outstanding:            
Weighted average common shares outstanding (basic) (in shares) 360,155   315,585   338,162 303,283
Effect of dilutive securities:            
Restricted stock (in shares) 1,281   876   2,088 924
Weighted average diluted shares outstanding (in shares) 361,436   316,461   340,250 304,207
Basic Net Income Per Common Share (in dollars per share) $ 0.34   $ 0.37   $ 0.78 $ 0.77
Diluted Net Income Per Common Share (in dollars per share) $ 0.34   $ 0.37   $ 0.77 $ 0.77
v3.25.2
Investment Securities - Amortized Cost and Fair Value of Available-for-Sale Investment Securities Portfolio (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Available-for-Sale    
Total $ 11,831,441 $ 8,480,508
Unrealized Gains 43,077 6,987
Unrealized Losses (765,512) (897,516)
Basis adjustments (103,810) (131,520)
Fair Value 11,005,196 7,458,459
U.S. Treasury    
Available-for-Sale    
Total 318,626 261,421
Unrealized Gains 86 67
Unrealized Losses (11,823) (12,659)
Basis adjustments (45,597) (49,816)
Fair Value 261,292 199,013
U.S. government-sponsored entities and agencies    
Available-for-Sale    
Total 1,567,522 1,521,610
Unrealized Gains 244 7
Unrealized Losses (159,198) (181,360)
Basis adjustments (60,789) (82,351)
Fair Value 1,347,779 1,257,906
Mortgage-backed securities - Agency    
Available-for-Sale    
Total 9,204,788 5,861,067
Unrealized Gains 40,827 6,005
Unrealized Losses (554,873) (662,181)
Basis adjustments 0 0
Fair Value 8,690,742 5,204,891
States and political subdivisions    
Available-for-Sale    
Total 466,812 510,630
Unrealized Gains 1,009 148
Unrealized Losses (28,517) (25,881)
Basis adjustments 2,576 647
Fair Value 441,880 485,544
Pooled trust preferred securities    
Available-for-Sale    
Total 13,813 13,807
Unrealized Gains 0 0
Unrealized Losses (2,494) (2,485)
Basis adjustments 0 0
Fair Value 11,319 11,322
Other securities    
Available-for-Sale    
Total 259,880 311,973
Unrealized Gains 911 760
Unrealized Losses (8,607) (12,950)
Basis adjustments 0 0
Fair Value $ 252,184 $ 299,783
v3.25.2
Investment Securities - Amortized Cost and Fair Value Held-to-Maturity (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Held-to-Maturity    
Allowance for securities held-to-maturity $ (150) $ (150)
Total held-to-maturity securities 2,926,368 2,954,881
Unrealized Gains 7 317
Unrealized Losses (456,028) (484,060)
Fair Value 2,470,347 2,471,138
U.S. government-sponsored entities and agencies    
Held-to-Maturity    
Amortized Cost 836,662 832,984
Unrealized Gains 0 0
Unrealized Losses (142,285) (168,653)
Fair Value 694,377 664,331
Mortgage-backed securities    
Held-to-Maturity    
Amortized Cost 941,464 970,212
Unrealized Gains 0 0
Unrealized Losses (145,385) (169,546)
Fair Value 796,079 800,666
States and political subdivisions    
Held-to-Maturity    
Amortized Cost 1,148,392 1,151,835
Unrealized Gains 7 317
Unrealized Losses (168,358) (145,861)
Fair Value $ 980,041 $ 1,006,291
v3.25.2
Investment Securities - Schedule of Proceeds from Sales or Calls and Realized Gain and Losses of Available-for-sale Investment Securities and Other Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Proceeds from Sale, Maturity and Collection of Investments [Abstract]        
Proceeds $ 2,092,486 $ 287,075 $ 2,163,445 $ 348,325
Realized gains 11 4 90 8
Realized losses $ (52) $ (2) $ (207) $ (22)
v3.25.2
Investment Securities - Expected Maturities of Investment Securities Portfolio (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Available-for-sale, Amortized Cost    
Within one year $ 291,158  
One to five years 3,181,494  
Five to ten years 7,175,378  
Beyond ten years 1,183,411  
Total 11,831,441 $ 8,480,508
Available-for-sale, Fair Value    
Within one year 290,051  
One to five years 3,139,051  
Five to ten years 6,646,934  
Beyond ten years 929,160  
Total $ 11,005,196 7,458,459
Available-for-sale, Weighted Average Yield    
Within one year 3.92%  
One to five years 4.48%  
Five to ten years 3.80%  
Beyond ten years 2.65%  
Total 3.87%  
Held-to-Maturity, Amortized Cost    
Within one year $ 18,232  
One to five years 51,266  
Five to ten years 1,344,104  
Beyond ten years 1,512,766  
Total held-to-maturity securities 2,926,368 2,954,881
Held-to-Maturity, Fair Value    
Within one year 18,101  
One to five years 46,861  
Five to ten years 1,167,923  
Beyond ten years 1,237,462  
Total $ 2,470,347 $ 2,471,138
Held-to-Maturity, Weighted Average Yield    
Within one year 3.21%  
One to five years 2.02%  
Five to ten years 2.57%  
Beyond ten years 2.75%  
Total 2.66%  
v3.25.2
Investment Securities - Available-for-Sale and Held-to-Maturity Investment Securities with Unrealized Losses by Aggregated Major Security Type and Length of Time in Continuous Unrealized Loss Position (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value $ 579,672 $ 1,126,895
Available-for-Sale, Less than 12 months, Unrealized Losses (3,806) (12,668)
Available-for-Sale, 12 months or longer, Fair Value 5,096,698 5,218,733
Available-for-Sale, 12 months or longer, Unrealized Losses (761,706) (884,848)
Available-for-Sale, Fair Value 5,676,370 6,345,628
Available-for-Sale, Unrealized Losses (765,512) (897,516)
U.S. Treasury    
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value 2,992 3,977
Available-for-Sale, Less than 12 months, Unrealized Losses (9) (26)
Available-for-Sale, 12 months or longer, Fair Value 180,172 177,691
Available-for-Sale, 12 months or longer, Unrealized Losses (11,814) (12,633)
Available-for-Sale, Fair Value 183,164 181,668
Available-for-Sale, Unrealized Losses (11,823) (12,659)
U.S. government-sponsored entities and agencies    
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value 107,447 98,280
Available-for-Sale, Less than 12 months, Unrealized Losses (796) (1,713)
Available-for-Sale, 12 months or longer, Fair Value 1,158,392 1,144,618
Available-for-Sale, 12 months or longer, Unrealized Losses (158,402) (179,647)
Available-for-Sale, Fair Value 1,265,839 1,242,898
Available-for-Sale, Unrealized Losses (159,198) (181,360)
Mortgage-backed securities    
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value 372,714 857,440
Available-for-Sale, Less than 12 months, Unrealized Losses (2,174) (9,172)
Available-for-Sale, 12 months or longer, Fair Value 3,309,123 3,406,350
Available-for-Sale, 12 months or longer, Unrealized Losses (552,699) (653,009)
Available-for-Sale, Fair Value 3,681,837 4,263,790
Available-for-Sale, Unrealized Losses (554,873) (662,181)
States and political subdivisions    
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value 70,158 133,906
Available-for-Sale, Less than 12 months, Unrealized Losses (720) (1,462)
Available-for-Sale, 12 months or longer, Fair Value 258,259 279,121
Available-for-Sale, 12 months or longer, Unrealized Losses (27,797) (24,419)
Available-for-Sale, Fair Value 328,417 413,027
Available-for-Sale, Unrealized Losses (28,517) (25,881)
Pooled trust preferred securities    
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value 0 0
Available-for-Sale, Less than 12 months, Unrealized Losses 0 0
Available-for-Sale, 12 months or longer, Fair Value 11,319 11,322
Available-for-Sale, 12 months or longer, Unrealized Losses (2,494) (2,485)
Available-for-Sale, Fair Value 11,319 11,322
Available-for-Sale, Unrealized Losses (2,494) (2,485)
Other securities    
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]    
Available-for-Sale, Less than 12 months, Fair Value 26,361 33,292
Available-for-Sale, Less than 12 months, Unrealized Losses (107) (295)
Available-for-Sale, 12 months or longer, Fair Value 179,433 199,631
Available-for-Sale, 12 months or longer, Unrealized Losses (8,500) (12,655)
Available-for-Sale, Fair Value 205,794 232,923
Available-for-Sale, Unrealized Losses $ (8,607) $ (12,950)
v3.25.2
Investment Securities - Held-to-Maturity with Unrecognized Losses (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value    
Less than 12 months $ 63,800 $ 37,007
12 months or longer 2,404,995 2,402,361
Total 2,468,795 2,439,368
Unrecognized Losses    
Less than 12 months (2,767) (430)
12 months or longer (453,261) (483,630)
Total (456,028) (484,060)
U.S. government-sponsored entities and agencies    
Fair Value    
Less than 12 months 0 0
12 months or longer 694,377 664,331
Total 694,377 664,331
Unrecognized Losses    
Less than 12 months 0 0
12 months or longer (142,285) (168,653)
Total (142,285) (168,653)
Mortgage-backed securities    
Fair Value    
Less than 12 months 0 0
12 months or longer 796,079 800,666
Total 796,079 800,666
Unrecognized Losses    
Less than 12 months 0 0
12 months or longer (145,385) (169,546)
Total (145,385) (169,546)
States and political subdivisions    
Fair Value    
Less than 12 months 63,800 37,007
12 months or longer 914,539 937,364
Total 978,339 974,371
Unrecognized Losses    
Less than 12 months (2,767) (430)
12 months or longer (165,591) (145,431)
Total $ (168,358) $ (145,861)
v3.25.2
Investment Securities - Additional Information (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
security
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
security
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Summary of Investment Holdings [Line Items]          
Transferred from available-for-sale to held-for-maturity $ 102,000,000.0   $ 102,000,000.0   $ 110,000,000.0
Allowance for credit losses for available-for-sale debt securities $ 0   $ 0   $ 0
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest   Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest   Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest
Allowance for securities held-to-maturity $ 150,000   $ 150,000   $ 150,000
Accrued interest receivable $ 68,700,000   $ 68,700,000   55,300,000
Number of securities in security portfolio | security 3,215   3,215    
Number of securities in unrealized loss position | security 2,477   2,477    
Equity securities, at fair value $ 121,025,000   $ 121,025,000   91,996,000
(Losses) gains on equity securities (600,000) $ (400,000) (500,000) $ (100,000)  
Impairments on equity securities without readily determinable fair value     0 0  
Downward adjustments on equity securities without readily determinable fair value     0 $ 0  
Other Assets          
Summary of Investment Holdings [Line Items]          
Equity securities without readily determinable fair value 920,500,000   920,500,000   609,200,000
Other Assets | Partnership Interest          
Summary of Investment Holdings [Line Items]          
Equity securities without readily determinable fair value 543,400,000   543,400,000   318,500,000
Other Assets | Initiatives in Low-to-Moderate Income Neighborhoods          
Summary of Investment Holdings [Line Items]          
Equity securities without readily determinable fair value $ 377,000,000.0   $ 377,000,000.0   $ 290,700,000
v3.25.2
Loans and Allowance for Credit Losses - Additional Information (Details)
 3 Months Ended 6 Months Ended
May 01, 2025
USD ($)
Apr. 01, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
portfolio
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
portfolio
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]              
Loan participations     $ 4,200,000,000   $ 4,200,000,000    
Loan participations sold     2,200,000,000   2,200,000,000    
Loan participations retained     $ 2,000,000,000.0   $ 2,000,000,000.0    
Number of loan portfolios | portfolio     4   4    
Number of loan segments | segment     7   7    
Allowance for credit losses at acquisition   $ 26,700,000          
Provision for credit losses     $ 106,835,000 $ 36,214,000 $ 138,238,000 $ 55,105,000  
Loan placed on nonaccrual when past due, number of days         90 days    
Payment defaults     4,600,000 27,000,000 $ 9,100,000 27,000,000  
Unfunded commitments on TDRs     0   0   $ 0
CapStar Financial Holdings, Inc.              
Financing Receivable, Allowance for Credit Losses [Line Items]              
Allowance for credit losses at acquisition   26,725,000          
Provision for credit losses     69,100,000   69,100,000    
Accrued interest receivable on loans     193,400,000   $ 193,400,000   $ 171,600,000
Bremer              
Financing Receivable, Allowance for Credit Losses [Line Items]              
Allowance for credit losses at acquisition $ 90,400,000 $ 90,442,000 $ 90,400,000        
Provision for credit losses       15,300,000   $ 15,300,000  
Bremer | Financial Asset Acquired with Credit Deterioration              
Financing Receivable, Allowance for Credit Losses [Line Items]              
Allowance for credit losses at acquisition       $ 23,900,000      
Commercial real estate              
Financing Receivable, Allowance for Credit Losses [Line Items]              
Percentage of risk-based capital     265.00%   265.00%    
Regulatory guideline limit     300.00%   300.00%    
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Composition of Loans and Impact of Adoption (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income $ 47,902,819   $ 47,902,819   $ 36,285,887      
Allowance for credit losses on loans (565,109) $ (366,335) (565,109) $ (366,335) (392,522) $ (401,932) $ (319,713) $ (307,610)
Net loans 47,337,710   47,337,710   35,893,365      
Taxable 658,508 545,622 1,174,274 1,032,983        
Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 0   0   0      
Net loans 0   0   0      
Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 47,902,819   47,902,819   36,285,887      
Allowance for credit losses on loans (565,109)   (565,109)   (392,522)      
Net loans 47,337,710   47,337,710   35,893,365      
Taxable     634,400   163,300      
Commercial                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 14,662,916   14,662,916   10,288,560      
Allowance for credit losses on loans (215,917) (138,460) (215,917) (138,460) (148,722) (157,587) (123,437) (118,333)
Commercial | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income (218,095)   (218,095)   (232,301)      
Commercial | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 14,444,821   14,444,821   10,056,259      
Commercial real estate                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 21,879,785   21,879,785   16,307,486      
Allowance for credit losses on loans (294,303) (189,911) (294,303) (189,911) (200,309) (198,110) (160,640) (155,099)
Commercial real estate | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income (175,181)   (175,181)   (174,438)      
Commercial real estate | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 21,704,604   21,704,604   16,133,048      
BBCC                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Allowance for credit losses on loans (2,488) (2,897) (2,488) (2,897) (2,813) (2,695) (3,163) (2,887)
BBCC | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 393,276   393,276   406,739      
BBCC | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 393,276   393,276   406,739      
Residential real estate                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 8,212,242   8,212,242   6,797,586      
Allowance for credit losses on loans (31,850) (23,135) (31,850) (23,135) (22,922) (24,214) (21,899) (20,837)
Residential real estate | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 0   0   0      
Residential real estate | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 8,212,242   8,212,242   6,797,586      
Consumer                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 3,147,876   3,147,876   2,892,255      
Consumer | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income (3,147,876)   (3,147,876)   (2,892,255)      
Indirect                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 1,073,024   1,073,024   1,096,778      
Allowance for credit losses on loans (8,430) (1,233) (8,430) (1,233) (8,434) (9,063) (1,218) (1,236)
Indirect | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 1,073,024   1,073,024   1,096,778      
Indirect | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 1,073,024   1,073,024   1,096,778      
Direct                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 586,841   586,841   514,144      
Allowance for credit losses on loans (2,564) (3,131) (2,564) (3,131) (2,304) (2,053) (2,952) (3,169)
Direct | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 586,841   586,841   514,144      
Direct | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 586,841   586,841   514,144      
Home equity                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 1,488,011   1,488,011   1,281,333      
Allowance for credit losses on loans (9,557) $ (7,568) (9,557) $ (7,568) (7,018) $ (8,210) $ (6,404) $ (6,049)
Home equity | Portfolio Segment Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 1,488,011   1,488,011   1,281,333      
Home equity | Portfolio Segment After Reclassifications                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income 1,488,011   1,488,011   1,281,333      
Direct Finance Leases                
Financing Receivable, Allowance for Credit Losses [Line Items]                
Total loans, net of unearned income $ 96,300   $ 96,300   $ 120,600      
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Activity in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period $ 401,932 $ 319,713 $ 392,522 $ 307,610
Charge-offs (29,954) (17,041) (54,494) (31,061)
Recoveries 3,426 2,996 6,350 5,266
Provision for Loan Losses 99,263 36,745 130,289 60,598
Balance at End of Period 565,109 366,335 565,109 366,335
Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 90,442 23,922 90,442 23,922
Commercial        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 157,587 123,437 148,722 118,333
Charge-offs (16,805) (9,927) (26,116) (13,586)
Recoveries 973 462 2,253 796
Provision for Loan Losses 43,670 9,895 60,566 18,324
Balance at End of Period 215,917 138,460 215,917 138,460
Commercial | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 30,492 14,593 30,492 14,593
Commercial real estate        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 198,110 160,640 200,309 155,099
Charge-offs (9,438) (3,101) (21,098) (9,742)
Recoveries 123 542 393 1,577
Provision for Loan Losses 45,897 23,347 55,088 34,494
Balance at End of Period 294,303 189,911 294,303 189,911
Commercial real estate | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 59,611 8,483 59,611 8,483
BBCC        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 2,695 3,163 2,813 2,887
Charge-offs (53) (935) (57) (1,011)
Recoveries 99 230 399 248
Provision for Loan Losses (253) 439 (667) 773
Balance at End of Period 2,488 2,897 2,488 2,897
BBCC | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 0 0 0 0
Residential real estate        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 24,214 21,899 22,922 20,837
Charge-offs (247) 0 (277) 0
Recoveries 150 762 238 781
Provision for Loan Losses 7,585 340 8,819 1,383
Balance at End of Period 31,850 23,135 31,850 23,135
Residential real estate | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 148 134 148 134
Indirect        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 9,063 1,218 8,434 1,236
Charge-offs (1,766) (1,084) (3,700) (2,222)
Recoveries 905 335 1,344 667
Provision for Loan Losses 222 764 2,346 1,552
Balance at End of Period 8,430 1,233 8,430 1,233
Indirect | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 6 0 6 0
Direct        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 2,053 2,952 2,304 3,169
Charge-offs (1,480) (1,884) (3,081) (4,312)
Recoveries 701 565 1,213 1,052
Provision for Loan Losses 1,243 1,439 2,081 3,163
Balance at End of Period 2,564 3,131 2,564 3,131
Direct | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans 47 59 47 59
Home equity        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Balance at Beginning of Period 8,210 6,404 7,018 6,049
Charge-offs (165) (110) (165) (188)
Recoveries 475 100 510 145
Provision for Loan Losses 899 521 2,056 909
Balance at End of Period 9,557 7,568 9,557 7,568
Home equity | Allowance Established for Acquired PCD Loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance Established for Acquired PCD Loans $ 138 $ 653 $ 138 $ 653
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Allowance for Credit Losses on Unfunded Loan Commitments (Details) - Unfunded Loan Commitment - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]        
Balance at beginning of period $ 22,031 $ 26,264 $ 21,654 $ 31,226
Provision (release) for credit losses on unfunded loan commitments 1,114 (2,294) 1,491 (7,256)
Balance at end of period 29,603 25,733 29,603 25,733
Adjusted Balance        
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]        
Provision for credit losses on unfunded loan commitments acquired during the period $ 6,458 $ 1,763 $ 6,458 $ 1,763
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Risk Rating and Payment Performance (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans $ 47,902,819   $ 47,902,819   $ 36,285,887
2025 183 $ 129 226 $ 129  
2024 7,295 3,573 8,546 4,059  
2023 1,469 7,096 6,678 11,701  
2022 8,823 1,335 14,490 4,332  
2021 5,089 334 13,733 488  
Prior 7,069 3,508 10,795 8,282  
Revolving 26 1,066 26 2,070  
Total 29,954 17,041 54,494 31,061  
Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 47,902,819   47,902,819   36,285,887
Commercial          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 14,662,916   14,662,916   10,288,560
Total 16,805 9,927 26,116 13,586  
Commercial | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 1,317,540   1,317,540   1,931,760
Originated one year before current year 2,269,069   2,269,069   1,440,650
Originated two years before current year 1,642,385   1,642,385   1,286,788
Originated three years before current year 1,439,158   1,439,158   777,990
Originated four years before current year 919,619   919,619   497,232
Originated more than five years before current fiscal year 1,918,053   1,918,053   673,411
Revolving 4,155,521   4,155,521   2,752,900
Revolving to Term 783,476   783,476   695,528
Total loans 14,444,821   14,444,821   10,056,259
2025 0 0 0 0  
2024 6,459 2,358 6,881 2,358  
2023 676 6,149 4,795 9,630  
2022 6,970 389 11,056 422  
2021 583 43 589 51  
Prior 2,117 566 2,795 570  
Revolving 0 422 0 555  
Total 16,805 9,927 26,116 13,586  
Commercial real estate          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 21,879,785   21,879,785   16,307,486
Total 9,438 3,101 21,098 9,742  
Commercial real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 1,303,317   1,303,317   2,326,885
Originated one year before current year 2,383,210   2,383,210   2,652,462
Originated two years before current year 3,174,070   3,174,070   4,252,908
Originated three years before current year 4,462,114   4,462,114   2,269,851
Originated four years before current year 2,627,570   2,627,570   1,464,609
Originated more than five years before current fiscal year 6,464,005   6,464,005   1,911,188
Revolving 242,681   242,681   123,704
Revolving to Term 1,047,637   1,047,637   1,131,441
Total loans 21,704,604   21,704,604   16,133,048
2025 0 0 0 0  
2024 0 0 0 0  
2023 0 23 303 23  
2022 1,205 468 1,956 2,644  
2021 4,000 0 11,996 0  
Prior 4,233 2,610 6,843 7,075  
Revolving 0 0 0 0  
Total 9,438 3,101 21,098 9,742  
BBCC          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total 53 935 57 1,011  
BBCC | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 25,664   25,664   81,807
Originated one year before current year 58,913   58,913   80,974
Originated two years before current year 61,589   61,589   57,703
Originated three years before current year 41,499   41,499   35,437
Originated four years before current year 24,889   24,889   30,912
Originated more than five years before current fiscal year 90,176   90,176   24,293
Revolving 65,405   65,405   72,005
Revolving to Term 25,141   25,141   23,608
Total loans 393,276   393,276   406,739
2025 0 0 0 0  
2024 0 605 0 605  
2023 13 153 13 229  
2022 31 35 31 35  
2021 9 112 13 112  
Prior 0 30 0 30  
Revolving 0 0 0 0  
Total 53 935 57 1,011  
Residential real estate          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 322,973   322,973   510,184
Originated one year before current year 611,577   611,577   481,758
Originated two years before current year 667,562   667,562   1,466,295
Originated three years before current year 1,791,642   1,791,642   1,668,493
Originated four years before current year 2,114,701   2,114,701   1,580,169
Originated more than five years before current fiscal year 2,703,529   2,703,529   1,090,373
Revolving 0   0   43
Revolving to Term 258   258   271
Total loans 8,212,242   8,212,242   6,797,586
2025 0 0 0 0  
2024 0 0 0 0  
2023 0 0 0 0  
2022 0 0 0 0  
2021 0 0 0 0  
Prior 247 0 277 0  
Revolving 0 0 0 0  
Total 247 0 277 0  
Residential real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 8,212,242   8,212,242   6,797,586
Residential real estate | Performing          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 322,748   322,748   509,704
Originated one year before current year 609,589   609,589   476,698
Originated two years before current year 659,834   659,834   1,455,085
Originated three years before current year 1,777,593   1,777,593   1,662,195
Originated four years before current year 2,108,457   2,108,457   1,574,961
Originated more than five years before current fiscal year 2,672,799   2,672,799   1,058,175
Revolving 0   0   43
Revolving to Term 258   258   271
Total loans 8,151,278   8,151,278   6,737,132
Residential real estate | Nonperforming          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 225   225   480
Originated one year before current year 1,988   1,988   5,060
Originated two years before current year 7,728   7,728   11,210
Originated three years before current year 14,049   14,049   6,298
Originated four years before current year 6,244   6,244   5,208
Originated more than five years before current fiscal year 30,730   30,730   32,198
Revolving 0   0   0
Revolving to Term 0   0   0
Total loans 60,964   60,964   60,454
Indirect          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 211,885   211,885   439,549
Originated one year before current year 370,916   370,916   281,057
Originated two years before current year 222,669   222,669   229,189
Originated three years before current year 172,801   172,801   93,601
Originated four years before current year 65,553   65,553   38,310
Originated more than five years before current fiscal year 29,200   29,200   15,072
Revolving 0   0   0
Revolving to Term 0   0   0
Total loans 1,073,024   1,073,024   1,096,778
2025 12 54 12 54  
2024 631 531 1,330 901  
2023 557 377 1,234 849  
2022 317 96 704 321  
2021 193 6 293 39  
Prior 56 20 127 58  
Revolving 0 0 0 0  
Total 1,766 1,084 3,700 2,222  
Indirect | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 1,073,024   1,073,024   1,096,778
Indirect | Performing          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 211,857   211,857   438,835
Originated one year before current year 370,286   370,286   279,910
Originated two years before current year 221,363   221,363   227,691
Originated three years before current year 171,636   171,636   92,223
Originated four years before current year 64,620   64,620   37,937
Originated more than five years before current fiscal year 28,802   28,802   14,810
Revolving 0   0   0
Revolving to Term 0   0   0
Total loans 1,068,564   1,068,564   1,091,406
Indirect | Nonperforming          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 28   28   714
Originated one year before current year 630   630   1,147
Originated two years before current year 1,306   1,306   1,498
Originated three years before current year 1,165   1,165   1,378
Originated four years before current year 933   933   373
Originated more than five years before current fiscal year 398   398   262
Revolving 0   0   0
Revolving to Term 0   0   0
Total loans 4,460   4,460   5,372
Direct          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 36,359   36,359   83,869
Originated one year before current year 78,083   78,083   73,151
Originated two years before current year 60,955   60,955   66,928
Originated three years before current year 58,379   58,379   61,669
Originated four years before current year 54,112   54,112   34,627
Originated more than five years before current fiscal year 143,867   143,867   81,918
Revolving 149,629   149,629   108,573
Revolving to Term 5,457   5,457   3,409
Total loans 586,841   586,841   514,144
2025 171 75 214 75  
2024 205 79 335 195  
2023 223 394 333 970  
2022 300 347 743 876  
2021 304 173 842 286  
Prior 251 172 588 395  
Revolving 26 644 26 1,515  
Total 1,480 1,884 3,081 4,312  
Direct | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 586,841   586,841   514,144
Direct | Performing          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 36,359   36,359   83,773
Originated one year before current year 77,720   77,720   72,838
Originated two years before current year 60,193   60,193   66,563
Originated three years before current year 57,844   57,844   61,317
Originated four years before current year 53,698   53,698   34,159
Originated more than five years before current fiscal year 140,154   140,154   80,188
Revolving 149,619   149,619   108,572
Revolving to Term 4,876   4,876   3,327
Total loans 580,463   580,463   510,737
Direct | Nonperforming          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 0   0   96
Originated one year before current year 363   363   313
Originated two years before current year 762   762   365
Originated three years before current year 535   535   352
Originated four years before current year 414   414   468
Originated more than five years before current fiscal year 3,713   3,713   1,730
Revolving 10   10   1
Revolving to Term 581   581   82
Total loans 6,378   6,378   3,407
Home equity          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 4,221   4,221   0
Originated one year before current year 51   51   0
Originated two years before current year 304   304   1,537
Originated three years before current year 2,071   2,071   301
Originated four years before current year 674   674   1,344
Originated more than five years before current fiscal year 21,316   21,316   15,925
Revolving 1,401,493   1,401,493   1,218,820
Revolving to Term 57,881   57,881   43,406
Total loans 1,488,011   1,488,011   1,281,333
2025 0 0 0 0  
2024 0 0 0 0  
2023 0 0 0 0  
2022 0 0 0 34  
2021 0 0 0 0  
Prior 165 110 165 154  
Revolving 0 0 0 0  
Total 165 $ 110 165 $ 188  
Home equity | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total loans 1,488,011   1,488,011   1,281,333
Home equity | Performing          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 4,181   4,181   0
Originated one year before current year 32   32   0
Originated two years before current year 251   251   259
Originated three years before current year 1,112   1,112   210
Originated four years before current year 579   579   1,135
Originated more than five years before current fiscal year 17,328   17,328   11,005
Revolving 1,400,491   1,400,491   1,216,226
Revolving to Term 46,300   46,300   31,787
Total loans 1,470,274   1,470,274   1,260,622
Home equity | Nonperforming          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 40   40   0
Originated one year before current year 19   19   0
Originated two years before current year 53   53   1,278
Originated three years before current year 959   959   91
Originated four years before current year 95   95   209
Originated more than five years before current fiscal year 3,988   3,988   4,920
Revolving 1,002   1,002   2,594
Revolving to Term 11,581   11,581   11,619
Total loans 17,737   17,737   20,711
Pass | Commercial | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 1,305,740   1,305,740   1,852,046
Originated one year before current year 2,173,224   2,173,224   1,267,721
Originated two years before current year 1,400,313   1,400,313   1,145,488
Originated three years before current year 1,254,431   1,254,431   699,429
Originated four years before current year 833,070   833,070   450,332
Originated more than five years before current fiscal year 1,746,219   1,746,219   624,522
Revolving 3,796,721   3,796,721   2,577,941
Revolving to Term 641,312   641,312   593,232
Total loans 13,151,030   13,151,030   9,210,711
Pass | Commercial real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 1,297,803   1,297,803   2,196,306
Originated one year before current year 2,333,656   2,333,656   2,555,236
Originated two years before current year 2,993,887   2,993,887   3,825,305
Originated three years before current year 3,787,067   3,787,067   2,065,037
Originated four years before current year 2,240,728   2,240,728   1,362,703
Originated more than five years before current fiscal year 5,790,999   5,790,999   1,641,611
Revolving 200,024   200,024   122,708
Revolving to Term 889,312   889,312   891,682
Total loans 19,533,476   19,533,476   14,660,588
Pass | BBCC | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 25,569   25,569   79,760
Originated one year before current year 57,920   57,920   78,420
Originated two years before current year 59,656   59,656   55,687
Originated three years before current year 40,620   40,620   33,857
Originated four years before current year 24,128   24,128   30,215
Originated more than five years before current fiscal year 85,692   85,692   22,797
Revolving 63,751   63,751   67,668
Revolving to Term 17,712   17,712   16,265
Total loans 375,048   375,048   384,669
Special Mention | Commercial | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 4,117   4,117   46,935
Originated one year before current year 54,285   54,285   102,372
Originated two years before current year 101,152   101,152   32,250
Originated three years before current year 39,978   39,978   40,221
Originated four years before current year 9,368   9,368   21,538
Originated more than five years before current fiscal year 40,046   40,046   20,535
Revolving 145,198   145,198   80,625
Revolving to Term 26,793   26,793   28,978
Total loans 420,937   420,937   373,454
Special Mention | Commercial real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 4,361   4,361   72,020
Originated one year before current year 33,943   33,943   31,203
Originated two years before current year 43,107   43,107   158,254
Originated three years before current year 200,210   200,210   48,524
Originated four years before current year 162,745   162,745   37,693
Originated more than five years before current fiscal year 108,328   108,328   64,357
Revolving 2,909   2,909   0
Revolving to Term 24,213   24,213   111,900
Total loans 579,816   579,816   523,951
Special Mention | BBCC | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 0   0   1,579
Originated one year before current year 578   578   1,067
Originated two years before current year 500   500   807
Originated three years before current year 523   523   917
Originated four years before current year 274   274   21
Originated more than five years before current fiscal year 2,406   2,406   224
Revolving 1,522   1,522   3,582
Revolving to Term 2,160   2,160   3,028
Total loans 7,963   7,963   11,225
Substandard | Commercial | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 7,268   7,268   27,139
Originated one year before current year 33,353   33,353   49,340
Originated two years before current year 111,274   111,274   77,835
Originated three years before current year 86,661   86,661   35,036
Originated four years before current year 71,764   71,764   19,307
Originated more than five years before current fiscal year 111,648   111,648   25,503
Revolving 188,832   188,832   78,210
Revolving to Term 53,383   53,383   40,217
Total loans 664,183   664,183   352,587
Substandard | Commercial real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 1,153   1,153   47,079
Originated one year before current year 12,591   12,591   55,923
Originated two years before current year 126,234   126,234   249,269
Originated three years before current year 422,703   422,703   102,913
Originated four years before current year 177,428   177,428   39,466
Originated more than five years before current fiscal year 441,460   441,460   142,110
Revolving 39,748   39,748   996
Revolving to Term 77,330   77,330   76,897
Total loans 1,298,647   1,298,647   714,653
Substandard | BBCC | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 95   95   468
Originated one year before current year 415   415   976
Originated two years before current year 1,014   1,014   56
Originated three years before current year 35   35   136
Originated four years before current year 68   68   598
Originated more than five years before current fiscal year 476   476   308
Revolving 132   132   755
Revolving to Term 4,196   4,196   2,876
Total loans 6,431   6,431   6,173
Nonaccrual | Commercial | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 7   7   2,221
Originated one year before current year 1,829   1,829   1,072
Originated two years before current year 9,674   9,674   4,199
Originated three years before current year 21,521   21,521   1,530
Originated four years before current year 3,220   3,220   604
Originated more than five years before current fiscal year 9,571   9,571   1,357
Revolving 4,400   4,400   719
Revolving to Term 4,368   4,368   829
Total loans 54,590   54,590   12,531
Nonaccrual | Commercial real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 0   0   3,693
Originated one year before current year 3,020   3,020   411
Originated two years before current year 3,036   3,036   3,579
Originated three years before current year 39,549   39,549   15,922
Originated four years before current year 28,337   28,337   1,930
Originated more than five years before current fiscal year 33,654   33,654   3,231
Revolving 0   0   0
Revolving to Term 24,262   24,262   118
Total loans 131,858   131,858   28,884
Nonaccrual | BBCC | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 0   0   0
Originated one year before current year 0   0   114
Originated two years before current year 33   33   312
Originated three years before current year 68   68   177
Originated four years before current year 270   270   63
Originated more than five years before current fiscal year 517   517   119
Revolving 0   0   0
Revolving to Term 324   324   551
Total loans 1,212   1,212   1,336
Doubtful | Commercial | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 408   408   3,419
Originated one year before current year 6,378   6,378   20,145
Originated two years before current year 19,972   19,972   27,016
Originated three years before current year 36,567   36,567   1,774
Originated four years before current year 2,197   2,197   5,451
Originated more than five years before current fiscal year 10,569   10,569   1,494
Revolving 20,370   20,370   15,405
Revolving to Term 57,620   57,620   32,272
Total loans 154,081   154,081   106,976
Doubtful | Commercial real estate | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 0   0   7,787
Originated one year before current year 0   0   9,689
Originated two years before current year 7,806   7,806   16,501
Originated three years before current year 12,585   12,585   37,455
Originated four years before current year 18,332   18,332   22,817
Originated more than five years before current fiscal year 89,564   89,564   59,879
Revolving 0   0   0
Revolving to Term 32,520   32,520   50,844
Total loans 160,807   160,807   204,972
Doubtful | BBCC | Portfolio Segment After Reclassifications          
Financing Receivable, Credit Quality Indicator [Line Items]          
Originated in current fiscal year 0   0   0
Originated one year before current year 0   0   397
Originated two years before current year 386   386   841
Originated three years before current year 253   253   350
Originated four years before current year 149   149   15
Originated more than five years before current fiscal year 1,085   1,085   845
Revolving 0   0   0
Revolving to Term 749   749   888
Total loans $ 2,622   $ 2,622   $ 3,336
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Past Due Loans (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income $ 47,902,819 $ 36,285,887
Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 47,902,819 36,285,887
Commercial    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 14,662,916 10,288,560
Commercial | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 14,444,821 10,056,259
Commercial real estate    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 21,879,785 16,307,486
Commercial real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 21,704,604 16,133,048
BBCC | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 393,276 406,739
Residential real estate    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 8,212,242 6,797,586
Residential real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 8,212,242 6,797,586
Indirect    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,073,024 1,096,778
Indirect | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,073,024 1,096,778
Direct    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 586,841 514,144
Direct | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 586,841 514,144
Home equity    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,488,011 1,281,333
Home equity | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,488,011 1,281,333
Total Past Due | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 408,649 283,006
Total Past Due | Commercial | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 108,281 65,248
Total Past Due | Commercial real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 177,731 92,113
Total Past Due | BBCC | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 4,796 3,518
Total Past Due | Residential real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 84,956 88,114
Total Past Due | Indirect | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 10,160 13,838
Total Past Due | Direct | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 5,372 4,444
Total Past Due | Home equity | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 17,353 15,731
30-59 Days Past Due | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 124,704 92,237
30-59 Days Past Due | Commercial | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 26,962 5,970
30-59 Days Past Due | Commercial real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 47,550 19,240
30-59 Days Past Due | BBCC | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 2,173 1,227
30-59 Days Past Due | Residential real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 33,354 49,331
30-59 Days Past Due | Indirect | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 7,088 9,700
30-59 Days Past Due | Direct | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,524 2,004
30-59 Days Past Due | Home equity | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 6,053 4,765
60-89 Days Past Due | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 56,902 44,739
60-89 Days Past Due | Commercial | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 18,401 12,021
60-89 Days Past Due | Commercial real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 16,438 12,728
60-89 Days Past Due | BBCC | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 230 861
60-89 Days Past Due | Residential real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 14,188 12,085
60-89 Days Past Due | Indirect | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 2,166 2,675
60-89 Days Past Due | Direct | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,346 970
60-89 Days Past Due | Home equity | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 4,133 3,399
Past Due 90 Days or More | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 227,043 146,030
Past Due 90 Days or More | Commercial | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 62,918 47,257
Past Due 90 Days or More | Commercial real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 113,743 60,145
Past Due 90 Days or More | BBCC | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 2,393 1,430
Past Due 90 Days or More | Residential real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 37,414 26,698
Past Due 90 Days or More | Indirect | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 906 1,463
Past Due 90 Days or More | Direct | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 2,502 1,470
Past Due 90 Days or More | Home equity | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 7,167 7,567
Current | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 47,494,170 36,002,881
Current | Commercial | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 14,336,540 9,991,011
Current | Commercial real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 21,526,873 16,040,935
Current | BBCC | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 388,480 403,221
Current | Residential real estate | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 8,127,286 6,709,472
Current | Indirect | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 1,062,864 1,082,940
Current | Direct | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income 581,469 509,700
Current | Home equity | Portfolio Segment After Reclassifications    
Financing Receivable, Past Due [Line Items]    
Total loans, net of unearned income $ 1,470,658 $ 1,265,602
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Nonaccrual Loans (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost $ 594,709 $ 447,979
Nonaccrual With No Related Allowance 89,203 95,004
Past Due 90 Days or More and Accruing 16,893 4,060
Commercial    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 208,671 119,507
Nonaccrual With No Related Allowance 15,375 30,551
Past Due 90 Days or More and Accruing 3,680 861
Commercial real estate    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 292,665 233,856
Nonaccrual With No Related Allowance 73,828 64,453
Past Due 90 Days or More and Accruing 12,709 3,126
BBCC    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 3,834 4,672
Nonaccrual With No Related Allowance 0 0
Past Due 90 Days or More and Accruing 0 0
Residential real estate    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 60,964 60,454
Nonaccrual With No Related Allowance 0 0
Past Due 90 Days or More and Accruing 225 0
Indirect    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 4,460 5,372
Nonaccrual With No Related Allowance 0 0
Past Due 90 Days or More and Accruing 233 0
Direct    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 6,378 3,407
Nonaccrual With No Related Allowance 0 0
Past Due 90 Days or More and Accruing 46 0
Home equity    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Amortized Cost 17,737 20,711
Nonaccrual With No Related Allowance 0 0
Past Due 90 Days or More and Accruing $ 0 $ 73
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Types of Collateral (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income $ 47,902,819 $ 36,285,887
Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 392,141 333,461
Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 147,126 70,680
Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 11,485 8,135
Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 11,261 12,560
Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 4,485 5,249
Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 14,662,916 10,288,560
Commercial | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 22,397 17,520
Commercial | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 142,003 68,985
Commercial | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 9,707 6,980
Commercial | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 6,286 6,544
Commercial | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 4,340 5,215
Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 21,879,785 16,307,486
Commercial real estate | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 283,893 228,952
Commercial real estate | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 4,409 542
Commercial real estate | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 1,464 1,046
Commercial real estate | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Commercial real estate | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 123 0
BBCC | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 2,389 3,201
BBCC | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 694 1,137
BBCC | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 310 86
BBCC | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 196 248
BBCC | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Residential real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 8,212,242 6,797,586
Residential real estate | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 60,964 60,454
Residential real estate | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Residential real estate | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Residential real estate | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Residential real estate | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Indirect    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 1,073,024 1,096,778
Indirect | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Indirect | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Indirect | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Indirect | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 4,460 5,372
Indirect | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Direct    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 586,841 514,144
Direct | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 4,761 2,623
Direct | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 20 16
Direct | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 4 23
Direct | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 319 396
Direct | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 22 34
Home equity    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 1,488,011 1,281,333
Home equity | Real Estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 17,737 20,711
Home equity | Blanket Lien    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Home equity | Investment Securities/Cash    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Home equity | Auto    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income 0 0
Home equity | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans, net of unearned income $ 0 $ 0
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Amortized Cost Basis of Loans with Modifications (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Financing Receivable, Allowance for Credit Losses [Line Items]        
Term Extension $ 240,857     $ 132,767
Commercial        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Term Extension 94,248     19,736
Commercial real estate        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Term Extension 146,609     113,031
Extended Maturity        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Term Extension $ 84,632 $ 62,091 $ 240,857 $ 88,273
Total Class of Loans 0.20% 0.20% 0.50% 0.20%
Extended Maturity | Commercial        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Term Extension $ 39,797 $ 3,859 $ 94,248 $ 14,867
Total Class of Loans 0.30% 0.00% 0.70% 0.10%
Extended Maturity | Commercial real estate        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Term Extension $ 44,835 $ 58,232 $ 146,609 $ 73,406
Total Class of Loans 0.20% 0.40% 0.70% 0.50%
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Monitors the Performance of Loan Modifications to Borrowers Experiencing Financial Difficulty to Understand the Effectiveness of its Modification Efforts (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension $ 240,857 $ 132,767
30-59 Days Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 7,779 9,931
60-89 Days Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 2,449 7,890
Past Due 90 Days or More    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 9,077 27,997
Total Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 19,305 45,818
Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 221,552 86,949
Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 94,248 19,736
Commercial | 30-59 Days Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 1,468 1,077
Commercial | 60-89 Days Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 2,449 2,813
Commercial | Past Due 90 Days or More    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 4,511 980
Commercial | Total Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 8,428 4,870
Commercial | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 85,820 14,866
Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 146,609 113,031
Commercial real estate | 30-59 Days Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 6,311 8,854
Commercial real estate | 60-89 Days Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 0 5,077
Commercial real estate | Past Due 90 Days or More    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 4,566 27,017
Commercial real estate | Total Past Due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension 10,877 40,948
Commercial real estate | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Term Extension $ 135,732 $ 72,083
v3.25.2
Loans and Allowance for Credit Losses - Schedule of Nature of Loan Modifications to Borrowers Experiencing Financial Difficulty (Details) - Extended Maturity
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Financing Receivable, Allowance for Credit Losses [Line Items]        
Weighted- Average Term Extension (in months) 8 months 6 days 10 months 18 days 7 months 27 days 9 months 9 days
Commercial        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Weighted- Average Term Extension (in months) 6 months 15 days 10 months 7 months 3 days 9 months 27 days
Commercial real estate        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Weighted- Average Term Extension (in months) 9 months 24 days 10 months 18 days 8 months 12 days 9 months 6 days
v3.25.2
Loans and Allowance for Credit Losses - Purchased Credit Deteriorated Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 01, 2025
Apr. 01, 2024
Jun. 30, 2025
Financing Receivable, Allowance for Credit Losses [Line Items]      
Purchase price of loans at acquisition   $ 610,700  
Allowance for credit losses at acquisition   26,700  
Par value of acquired loans at acquisition   679,300  
Bremer      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Purchase price of loans at acquisition $ 1,900,000 1,889,330  
Allowance for credit losses at acquisition 90,400 90,442 $ 90,400
Non-credit discount at acquisition   75,817  
Par value of acquired loans at acquisition $ 2,100,000 2,055,589  
CapStar Financial Holdings, Inc.      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Purchase price of loans at acquisition   610,691  
Allowance for credit losses at acquisition   26,725  
Non-credit discount at acquisition   41,886  
Par value of acquired loans at acquisition   $ 679,302  
v3.25.2
Leases - Additional Information (Details)
Jun. 30, 2025
Minimum  
Lessee, Lease, Description [Line Items]  
Operating lease term 5 years
Finance lease term 5 years
Maximum  
Lessee, Lease, Description [Line Items]  
Operating lease term 30 years
Finance lease term 30 years
v3.25.2
Leases - Schedule of Components of Lease Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Finance lease cost:        
Total $ 11,342 $ 9,886 $ 21,957 $ 18,519
Occupancy/Equipment expense        
Lessee, Lease, Description [Line Items]        
Operating lease cost 8,960 8,268 17,159 16,094
Occupancy expense        
Finance lease cost:        
Amortization of right-of-use assets 2,276 1,488 4,546 2,239
Sub-lease income (106) (123) (189) (248)
Interest expense        
Finance lease cost:        
Interest on lease liabilities $ 212 $ 253 $ 441 $ 434
v3.25.2
Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Operating Leases    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Accrued interest receivable and other assets Accrued interest receivable and other assets
Operating lease right-of-use assets $ 219,655 $ 181,920
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other liabilities Accrued expenses and other liabilities
Operating lease liabilities $ 237,610 $ 200,068
Finance Leases    
Finance lease, right-of-use asset, statement of financial position [extensible enumeration] Premises and equipment, net Premises and equipment, net
Premises and equipment, net $ 19,489 $ 23,205
Finance lease, liability, statement of financial position [extensible enumeration] Other borrowings Other borrowings
Other borrowings $ 21,207 $ 24,822
Weighted-Average Remaining Lease Term (in Years)    
Operating leases 9 years 7 years 9 months 18 days
Finance leases 8 years 9 months 18 days 7 years 9 months 18 days
Weighted-Average Discount Rate    
Operating leases 3.69% 3.14%
Finance leases 4.04% 3.96%
v3.25.2
Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases $ 18,019 $ 16,439
Operating cash flows from finance leases 441 434
Financing cash flows from finance leases $ 4,446 $ 2,020
v3.25.2
Leases - Schedule of Maturity Analysis of Lease Liability by Lease Classification (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Operating Leases    
2025 $ 19,579  
2026 38,797  
2027 37,232  
2028 33,242  
2029 30,649  
Thereafter 122,718  
Total undiscounted lease payments 282,217  
Amounts representing interest (44,607)  
Lease liability 237,610 $ 200,068
Finance Leases    
2025 4,350  
2026 2,619  
2027 2,656  
2028 2,339  
2029 1,498  
Thereafter 11,979  
Total undiscounted lease payments 25,441  
Amounts representing interest (4,234)  
Lease liability $ 21,207 $ 24,822
v3.25.2
Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Goodwill [Roll Forward]        
Balance at beginning of period $ 2,175,251 $ 1,998,716 $ 2,175,251 $ 1,998,716
Acquisitions and adjustments 234,635 171,993 234,635 171,993
Balance at end of period $ 2,409,886 $ 2,170,709 $ 2,409,886 $ 2,170,709
v3.25.2
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended
Aug. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
May 01, 2025
Apr. 01, 2024
Goodwill [Line Items]              
Goodwill impairment $ 0            
Impairment charges       $ 0 $ 0    
Amortization of other intangible assets   $ 19,630,000 $ 7,425,000 $ 26,460,000 $ 12,880,000    
Minimum | Core Deposits and Other Intangible Assets              
Goodwill [Line Items]              
Estimated useful lives   5 years   5 years      
Maximum | Core Deposits and Other Intangible Assets              
Goodwill [Line Items]              
Estimated useful lives   15 years   15 years      
Bremer              
Goodwill [Line Items]              
Goodwill   $ 234,600,000          
Bremer | Core deposit              
Goodwill [Line Items]              
Estimated useful lives           10 years  
Estimated fair value of intangible assets acquired   397,100,000          
Bremer | Customer relationship              
Goodwill [Line Items]              
Estimated useful lives           12 years  
Estimated fair value of intangible assets acquired   $ 43,000,000          
CapStar Financial Holdings, Inc.              
Goodwill [Line Items]              
Goodwill     $ 172,000,000        
CapStar Financial Holdings, Inc. | Core deposit              
Goodwill [Line Items]              
Estimated useful lives             10 years
v3.25.2
Goodwill and Other Intangible Assets - Schedule of Gross Carrying Amounts and Accumulated Amortization of Other Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 680,627 $ 240,528
Accumulated Amortization and Impairment (146,141) (119,681)
Net Carrying Amount 534,486 120,847
Core deposit    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 586,735 189,636
Accumulated Amortization and Impairment (119,268) (95,950)
Net Carrying Amount 467,467 93,686
Customer relationship    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 93,892 50,892
Accumulated Amortization and Impairment (26,873) (23,731)
Net Carrying Amount $ 67,019 $ 27,161
v3.25.2
Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense for Future Years (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
2025 remaining $ 52,200  
2026 96,109  
2027 84,810  
2028 73,689  
2029 62,983  
Thereafter 164,695  
Net Carrying Amount $ 534,486 $ 120,847
v3.25.2
Qualified Affordable Housing Projects and Other Tax Credit Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Summary of Investment Holdings [Line Items]          
Investment $ 377,044   $ 377,044   $ 290,651
Unfunded Commitment 152,083   152,083   140,214
Amortization Expense 9,634 $ 6,065 16,817 $ 11,816  
Tax Expense (Benefit) Recognized (12,288) (7,608) $ (21,542) $ (14,777)  
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]     Noninterest Expense Noninterest Expense  
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration]     Noninterest Expense Noninterest Expense  
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Cash Flows [Extensible Enumeration]     Income tax expense Income tax expense  
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration]     Income tax expense Income tax expense  
Low Income Housing Tax Credit (“LIHTC”)          
Summary of Investment Holdings [Line Items]          
Investment, Proportional amortization 234,674   $ 234,674   199,350
Unfunded commitment, Proportional amortization 130,855   130,855   115,345
Amortization Expense 3,205 2,780 6,409 $ 5,265  
Tax Expense (Benefit) Recognized (4,516) (3,743) (8,815) (7,074)  
Federal Historic Tax Credit (“FHTC”)          
Summary of Investment Holdings [Line Items]          
Investment, Equity 28,224   28,224   30,835
Unfunded commitment, Equity 21,228   21,228   24,869
Amortization Expense 614 728 1,169 1,262  
Tax Expense (Benefit) Recognized (723) (690) (1,418) (1,353)  
New Markets Tax Credit (“NMTC”)          
Summary of Investment Holdings [Line Items]          
Investment, Equity 114,142   114,142   60,462
Unfunded commitment, Equity 0   0   0
Amortization Expense 5,815 2,546 9,239 5,092  
Tax Expense (Benefit) Recognized (7,049) (3,175) (11,309) (6,350)  
Renewable Energy          
Summary of Investment Holdings [Line Items]          
Investment, Equity 4   4   4
Unfunded commitment, Equity $ 0   $ 0   $ 0
Amortization Expense   11   197  
Tax Expense (Benefit) Recognized   $ 0   $ 0  
v3.25.2
Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold under Agreements to Repurchase and Related Weighted-Average Interest Rates (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Securities Sold under Agreements to Repurchase [Abstract]      
Outstanding at period end $ 297,637 $ 240,713 $ 268,975
Average amount outstanding during the period 284,518 273,088  
Maximum amount outstanding at any month-end during the period $ 311,335 $ 319,423  
Weighted-average interest rate during year 0.84% 1.15%  
Weighted-average interest rate at end of year 0.91% 3.41% 0.86%
v3.25.2
Securities Sold Under Agreements to Repurchase - Additional Information (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Securities Sold under Agreements to Repurchase [Abstract]      
Securities sold under agreements to repurchase $ 297,637 $ 268,975 $ 240,713
Weighted-average interest rate at end of year 0.91% 0.86% 3.41%
v3.25.2
Securities Sold Under Agreements to Repurchase - Schedule of Remaining Contractual Maturity of Secured Borrowings and Class of Collateral Pledged Under Repurchase Agreements (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase $ 297,637 $ 268,975 $ 240,713
U.S. Treasury and agency securities      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 297,637    
Overnight and Continuous      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 297,637    
Overnight and Continuous | U.S. Treasury and agency securities      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 297,637    
Up to 30 Days      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 0    
Up to 30 Days | U.S. Treasury and agency securities      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 0    
 30-90 Days      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 0    
 30-90 Days | U.S. Treasury and agency securities      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 0    
Greater Than 90 days      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase 0    
Greater Than 90 days | U.S. Treasury and agency securities      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities sold under agreements to repurchase $ 0    
v3.25.2
Federal Home Loan Bank Advances - Summary of FHLB Advances (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Federal Home Loan Bank, Advances [Line Items]    
FHLB advances (fixed rates 2.25% to 5.20%    and variable rates 4.28% to 4.48%) maturing   August 2025 to January 2045 $ 5,830,200 $ 4,475,285
Fair value hedge basis adjustments and unamortized prepayment fees 5,718 (22,726)
Federal Home Loan Bank advances $ 5,835,918 $ 4,452,559
Minimum | FHLB Advances    
Federal Home Loan Bank, Advances [Line Items]    
Fixed rates 2.25%  
Variable rates 4.28%  
Maximum | FHLB Advances    
Federal Home Loan Bank, Advances [Line Items]    
Fixed rates 5.20%  
Variable rates 4.48%  
v3.25.2
Federal Home Loan Bank Advances - Additional Information (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Federal Home Loan Banks [Abstract]    
Weighted-average rates of FHLB advances 3.82% 3.54%
Modifications, unamortized prepayment fees $ 5.2 $ 8.2
v3.25.2
Federal Home Loan Bank Advances - Summary of Contractual Maturities of FHLB Advances (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Federal Home Loan Banks [Abstract]    
Due in 2025 $ 1,625,000  
Due in 2026 230,000  
Due in 2027 141,000  
Due in 2028 748,000  
Due in 2029 906,000  
Thereafter 2,180,200  
Fair value hedge basis adjustments and unamortized prepayment fees 5,718 $ (22,726)
Federal Home Loan Bank advances $ 5,835,918 $ 4,452,559
v3.25.2
Other Borrowings - Summary of Other Borrowings (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Finance lease liabilities $ 21,207 $ 24,822
Other borrowings 872,297 689,618
Old National Bank    
Debt Instrument [Line Items]    
Other basis adjustments 51,628 112,853
Finance lease liabilities 21,207 24,822
Derivative collateralize position amount $ 51,600 112,800
Old National Bank | Subordinated Debt    
Debt Instrument [Line Items]    
Variable rates 8.90%  
Variable rate 4.618%  
Subordinated debentures $ 12,000 12,000
Old National Bank | Leveraged Loans for NMTC    
Debt Instrument [Line Items]    
Leveraged loans for NMTC (fixed rates of 1.00% to 7.25%) maturing December 2027 to June 2060 $ 398,493 210,251
Old National Bank | Leveraged Loans for NMTC | Minimum    
Debt Instrument [Line Items]    
Fixed rates 1.00%  
Old National Bank | Leveraged Loans for NMTC | Maximum    
Debt Instrument [Line Items]    
Fixed rates 7.25%  
Old National Bancorp    
Debt Instrument [Line Items]    
Other basis adjustments $ 10,470 13,049
Old National Bancorp | Subordinated Debt | Subordinated Debentures, Due September 2026    
Debt Instrument [Line Items]    
Fixed rates 5.88%  
Subordinated debentures $ 150,000 150,000
Old National Bancorp | Subordinated Debt | Subordinated Debt Due on June 2030    
Debt Instrument [Line Items]    
Fixed rates 9.69%  
Subordinated debentures $ 30,000 30,000
Old National Bancorp | Junior Subordinated Debentures    
Debt Instrument [Line Items]    
Junior subordinated debentures (rates of 5.98% to 8.12%) maturing July 2031 to September 2037 $ 198,499 $ 136,643
Old National Bancorp | Junior Subordinated Debentures | Minimum    
Debt Instrument [Line Items]    
Variable rates 5.98%  
Old National Bancorp | Junior Subordinated Debentures | Maximum    
Debt Instrument [Line Items]    
Variable rates 8.12%  
v3.25.2
Other Borrowings - Contractual Maturities of Other Borrowings (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Due in 2025 $ 67,580  
Due in 2026 151,976  
Due in 2027 18,783  
Due in 2028 1,846  
Due in 2029 1,059  
Thereafter 620,553  
Unamortized debt issuance costs and other basis adjustments 10,500  
Total $ 872,297 $ 689,618
v3.25.2
Other Borrowings - Summary of Terms of Outstanding Junior Subordinated Debentures (Details) - Trust Preferred Securities - Junior Subordinated Debentures
 6 Months Ended
Jun. 30, 2025
USD ($)
Debt Instrument [Line Items]  
Issuance Amount $ 198,499,000
Bridgeview Statutory Trust I  
Debt Instrument [Line Items]  
Issuance Amount $ 15,464,000
Variable rate 3.58%
Rate 8.12%
Bridgeview Capital Trust II  
Debt Instrument [Line Items]  
Issuance Amount $ 15,464,000
Variable rate 3.35%
Rate 7.87%
First Midwest Capital Trust I  
Debt Instrument [Line Items]  
Issuance Amount $ 37,825,000
Rate 6.95%
Fixed rates 6.95%
St. Joseph Capital Trust II  
Debt Instrument [Line Items]  
Issuance Amount $ 5,155,000
Variable rate 1.75%
Rate 6.32%
Northern States Statutory Trust I  
Debt Instrument [Line Items]  
Issuance Amount $ 10,310,000
Variable rate 1.80%
Rate 6.38%
Anchor Capital Trust III  
Debt Instrument [Line Items]  
Issuance Amount $ 5,000,000
Variable rate 1.55%
Rate 6.11%
Great Lakes Statutory Trust II  
Debt Instrument [Line Items]  
Issuance Amount $ 6,186,000
Variable rate 1.40%
Rate 5.98%
Bremer Statutory Trust II  
Debt Instrument [Line Items]  
Issuance Amount $ 61,856,000
Variable rate 1.60%
Rate 6.19%
Home Federal Statutory    Trust I  
Debt Instrument [Line Items]  
Issuance Amount $ 15,464,000
Variable rate 1.65%
Rate 6.23%
Monroe Bancorp Capital    Trust I  
Debt Instrument [Line Items]  
Issuance Amount $ 3,093,000
Variable rate 1.60%
Rate 6.12%
Tower Capital Trust 3  
Debt Instrument [Line Items]  
Issuance Amount $ 9,279,000
Variable rate 1.69%
Rate 6.28%
Monroe Bancorp Statutory    Trust II  
Debt Instrument [Line Items]  
Issuance Amount $ 5,155,000
Variable rate 1.60%
Rate 6.18%
Great Lakes Statutory Trust III  
Debt Instrument [Line Items]  
Issuance Amount $ 8,248,000
Variable rate 1.70%
Rate 6.28%
v3.25.2
Other Borrowings - Additional Information (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Other borrowings $ 21,207 $ 24,822
Old National Bank    
Debt Instrument [Line Items]    
Other borrowings $ 21,207 $ 24,822
v3.25.2
Accumulated Other Comprehensive Income (Loss) - Schedule of AOCI (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance $ 6,534,654 $ 5,595,408 $ 6,340,350 $ 5,562,900
Other comprehensive income (loss) before reclassifications 43,955 (18,562) 137,625 (66,230)
Amounts reclassified from AOCI to income 4,946 6,782 8,810 13,631
Ending balance 8,126,387 6,075,072 8,126,387 6,075,072
Accumulated Other Comprehensive Income (Loss)        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (648,509) (779,628) (746,043) (738,809)
Ending balance (599,608) (791,408) (599,608) (791,408)
Unrealized Gains and Losses on Available-for-Sale Debt Securities        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (582,779) (685,969) (668,063) (652,518)
Other comprehensive income (loss) before reclassifications 40,590 (13,347) 125,818 (46,810)
Amounts reclassified from AOCI to income 31 (2) 87 10
Ending balance (542,158) (699,318) (542,158) (699,318)
Unrecognized Gains and Losses on Held-to-Maturity Securities        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (79,373) (92,251) (82,294) (95,472)
Other comprehensive income (loss) before reclassifications 0 0 0 0
Amounts reclassified from AOCI to income 3,037 3,265 5,958 6,486
Ending balance (76,336) (88,986) (76,336) (88,986)
Gains and Losses on Hedges        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance 13,643 (1,408) 4,314 9,181
Other comprehensive income (loss) before reclassifications 3,365 (5,215) 11,807 (19,420)
Amounts reclassified from AOCI to income 1,878 3,519 2,765 7,135
Ending balance $ 18,886 $ (3,104) $ 18,886 $ (3,104)
v3.25.2
Accumulated Other Comprehensive Income (Loss) - Reclassifications out of AOCI (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Debt securities gains (losses), net $ 41   $ (2)   $ 117 $ 14
Income tax (expense) benefit 30,298   35,250   67,202 67,738
Interest income (expense) (514,790)   (388,421)   (902,433) (744,879)
Total reclassifications for the period (125,408) $ (144,659) (121,229) $ (120,284) (270,067) (241,513)
Amount Reclassified from AOCI            
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Total reclassifications for the period (4,946)   (6,782)   (8,810) (13,631)
Amount Reclassified from AOCI | Unrealized gains and losses on    available-for-sale securities            
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Debt securities gains (losses), net (41)   2   (117) (14)
Income tax (expense) benefit 10   0   30 4
Total reclassifications for the period (31)   2   (87) (10)
Amount Reclassified from AOCI | Amortization of unrecognized losses on    held-to-maturity securities transferred    from available-for-sale            
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Income tax (expense) benefit 1,032   1,111   2,026 2,208
Interest income (expense) (4,069)   (4,376)   (7,984) (8,694)
Total reclassifications for the period (3,037)   (3,265)   (5,958) (6,486)
Amount Reclassified from AOCI | Gains and losses on hedges    Interest rate contracts            
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Income tax (expense) benefit 655   1,228   964 2,489
Interest income (expense) (2,533)   (4,747)   (3,729) (9,624)
Total reclassifications for the period $ (1,878)   $ (3,519)   $ (2,765) $ (7,135)
v3.25.2
Income Taxes - Summary of Differences in Taxes from Continuing Operations Computed at Statutory Rate (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Tax Disclosure [Abstract]        
Provision at statutory rate $ 32,698 $ 32,861 $ 70,826 $ 64,943
Tax-exempt income:        
Tax-exempt interest (5,599) (5,027) (9,851) (9,985)
Section 291/265 interest disallowance 1,364 957 2,033 1,841
Company-owned life insurance income (1,397) (1,178) (2,532) (1,872)
Tax-exempt income (5,632) (5,248) (10,350) (10,016)
State income taxes 5,094 6,333 11,995 11,480
Interim period effective rate adjustment (159) (70) (306) 873
Tax credit investments - federal (5,156) (3,106) (9,258) (6,160)
Officer compensation limitation 1,436 1,491 1,808 2,256
Non-deductible FDIC premiums 2,816 2,032 4,853 3,779
Other, net (799) 957 (2,366) 583
Income tax expense $ 30,298 $ 35,250 $ 67,202 $ 67,738
Effective tax rate 19.50% 22.50% 19.90% 21.90%
v3.25.2
Income Taxes - Additional Information (Details) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Income Taxes [Line Items]    
Net deferred tax assets $ 527,900,000 $ 456,400,000
Valuation allowance recorded 0 0
Bad debt reserves, created for tax purposes 58,600,000  
Federal    
Income Taxes [Line Items]    
Operating loss carryforwards 183,100,000 60,200,000
Federal | Bremer    
Income Taxes [Line Items]    
Operating loss carryforwards 59,100,000  
State    
Income Taxes [Line Items]    
Operating loss carryforwards $ 148,400,000 $ 106,000,000.0
v3.25.2
Derivative Financial Instruments - Additional Information (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Derivative [Line Items]    
Percentage of periodic changes in fair value qualifies for hedge accounting treatment (in percent) 100.00%  
Hedge gain to be reclassified to interest income during next twelve months, net $ 3,200  
Hedge gain to be reclassified to interest expense during next twelve months, net 15,800  
Interest rate swaps on borrowings | Cash flow hedges | Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount 50,000 $ 150,000
Interest rate swaps on borrowings | Fair value hedges | Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount 1,100,000 1,100,000
Interest rate swaps, collars, and floors on loan pools | Cash flow hedges | Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount 1,900,000 1,900,000
Interest rate swaps on investment securities | Fair value hedges | Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount 927,407 927,407
Interest rate lock commitments | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount 105,050 57,380
Forward mortgage loan contracts | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount 177,471 88,808
Forward commitments | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount   88,800
Customer and offsetting counterparty derivative instruments | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Notional amount $ 9,000,000 $ 6,300,000
v3.25.2
Derivative Financial Instruments - Summary of Fair Value of Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Designated as Hedging Instrument    
Derivative [Line Items]    
Assets $ 18,681 $ 4,155
Liabilities 2,780 11,196
Designated as Hedging Instrument | Cash flow hedges | Interest rate swaps, collars, and floors on loan pools    
Derivative [Line Items]    
Notional 1,900,000 1,900,000
Assets 13,401 3,490
Liabilities 2,780 11,196
Designated as Hedging Instrument | Cash flow hedges | Interest rate swaps on borrowings    
Derivative [Line Items]    
Notional 50,000 150,000
Assets 0 0
Liabilities 0 0
Designated as Hedging Instrument | Fair value hedges | Interest rate swaps on borrowings    
Derivative [Line Items]    
Notional 1,100,000 1,100,000
Assets 5,280 665
Liabilities 0 0
Designated as Hedging Instrument | Fair value hedges | Interest rate swaps on investment securities    
Derivative [Line Items]    
Notional 927,407 927,407
Assets 0 0
Liabilities 0 0
Not Designated as Hedging Instrument    
Derivative [Line Items]    
Assets 159,383 142,323
Liabilities 285,909 233,117
Not Designated as Hedging Instrument | Interest rate lock commitments    
Derivative [Line Items]    
Notional 105,050 57,380
Assets 903 0
Liabilities 0 166
Not Designated as Hedging Instrument | Forward mortgage loan contracts    
Derivative [Line Items]    
Notional 177,471 88,808
Assets 0 807
Liabilities 837 0
Not Designated as Hedging Instrument | Customer interest rate swaps    
Derivative [Line Items]    
Notional 9,023,697 6,255,123
Assets 67,990 12,827
Liabilities 216,304 219,926
Not Designated as Hedging Instrument | Counterparty interest rate swaps    
Derivative [Line Items]    
Notional 9,023,697 6,255,123
Assets 89,996 128,469
Liabilities 68,362 12,902
Not Designated as Hedging Instrument | Customer foreign currency contracts    
Derivative [Line Items]    
Notional 10,044 10,265
Assets 445 28
Liabilities 39 121
Not Designated as Hedging Instrument | Counterparty foreign currency contracts    
Derivative [Line Items]    
Notional 10,175 10,093
Assets 49 192
Liabilities $ 367 $ 2
v3.25.2
Derivative Financial Instruments - Schedule of Effect of Derivative Instruments on the Consolidated Statements of Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Other Comprehensive Income on Derivative $ 4,539 $ (7,035) $ 15,925 $ (26,194)
Gain (Loss) Reclassified from AOCI into Income (2,533) (4,747) (3,729) (9,624)
Not Designated as Hedging Instrument        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative (65) (900) (343) 371
Fair value hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative (2,491) 2,519 (12,682) 14,396
Gain (Loss) Recognized in Income on Related Hedged Items 2,489 (2,537) 12,704 (14,315)
Interest rate swaps on borrowings | Fair value hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative 6,088 (317) 15,064 (14,288)
Gain (Loss) Recognized in Income on Related Hedged Items (6,075) 272 (15,007) 14,399
Interest rate swaps on investment securities | Fair value hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative (8,579) 2,836 (27,746) 28,684
Gain (Loss) Recognized in Income on Related Hedged Items 8,564 (2,809) 27,711 (28,714)
Interest rate contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Other Comprehensive Income on Derivative 4,538 (7,035) 15,925 (26,194)
Gain (Loss) Reclassified from AOCI into Income (3,632) (5,781) (5,927) (11,692)
Interest rate contracts | Not Designated as Hedging Instrument        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative 123 (160) 147 408
Mortgage contracts | Not Designated as Hedging Instrument        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative (122) (693) (503) 44
Foreign currency contracts | Not Designated as Hedging Instrument        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivative $ (66) $ (47) $ 13 $ (81)
v3.25.2
Derivative Financial Instruments - Schedule of Offsetting Assets and Liability (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Gross amounts recognized $ 178,064 $ 146,478
Less: amounts offset in the Consolidated Balance Sheet 0 0
Net amount presented in the Consolidated Balance Sheet 178,064 146,478
Offsetting derivative positions (71,142) (24,098)
Cash collateral pledged (7,901) 0
Net credit exposure 99,021 122,380
Derivative Liability [Abstract]    
Gross amounts recognized 288,689 244,313
Less: amounts offset in the Consolidated Balance Sheet 0 0
Net amount presented in the Consolidated Balance Sheet 288,689 244,313
Offsetting derivative positions (71,142) (24,098)
Cash collateral pledged (51,759) (112,499)
Net credit exposure $ 165,788 $ 107,716
v3.25.2
Commitments, Contingencies, and Financial Guarantees - Additional Information (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Term of standby letters of credit, years 1 year  
Percent of unfunded loan commitments with fixed rates 3.00%  
Loan commitments floating rate, minimum 0.01%  
Loan commitments floating rate, maximum 21.49%  
Allowance for unfunded loan commitments $ 29.6 $ 21.7
Interest Rate Swap    
Loss Contingencies [Line Items]    
Notional amount $ 1,000.0 $ 730.5
v3.25.2
Commitments, Contingencies, and Financial Guarantees - Loan Commitments and Standby Letters of Credit (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Unfunded loan commitments $ 11,405,665 $ 8,533,433
Standby letters of credit 267,722 194,323
Cancellable loan commitments 2,900,000 2,500,000
Carrying value of letters of credit $ 1,800 $ 1,700
v3.25.2
Fair Value - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity securities $ 121,025 $ 91,996
Derivative assets 178,064 146,478
Derivative liabilities 288,689 244,313
Carrying Value | Fair Value on Recurring Basis    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity securities 121,025 91,996
Loans held-for-sale 77,618 34,483
Derivative assets 178,064 146,478
Derivative liabilities 288,689 244,313
Carrying Value | Fair Value on Recurring Basis | U.S. Treasury    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 261,292 199,013
Carrying Value | Fair Value on Recurring Basis | U.S. government-sponsored entities and agencies    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 1,347,779 1,257,906
Carrying Value | Fair Value on Recurring Basis | Mortgage-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 8,690,742 5,204,891
Carrying Value | Fair Value on Recurring Basis | States and political subdivisions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 441,880 485,544
Carrying Value | Fair Value on Recurring Basis | Pooled trust preferred securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 11,319 11,322
Carrying Value | Fair Value on Recurring Basis | Other securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 252,184 299,783
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity securities 121,025 91,996
Loans held-for-sale 0 0
Derivative assets 0 0
Derivative liabilities 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 261,292 199,013
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government-sponsored entities and agencies    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | States and political subdivisions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Pooled trust preferred securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity securities 0 0
Loans held-for-sale 77,618 34,483
Derivative assets 178,064 146,478
Derivative liabilities 288,689 244,313
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | U.S. Treasury    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | U.S. government-sponsored entities and agencies    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 1,347,779 1,257,906
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 8,690,742 5,204,891
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | States and political subdivisions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 441,880 485,544
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | Pooled trust preferred securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 11,319 11,322
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | Other securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 252,184 299,783
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity securities 0 0
Loans held-for-sale 0 0
Derivative assets 0 0
Derivative liabilities 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | U.S. Treasury    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | U.S. government-sponsored entities and agencies    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | States and political subdivisions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Pooled trust preferred securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: 0 0
Estimate of Fair Value Measurement | Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Other securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Investment securities available-for-sale: $ 0 $ 0
v3.25.2
Fair Value - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value on Non-recurring Basis - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Carrying Value | Commercial Real Estate Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 975 $ 975
Carrying Value | Residential Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,809 244
Carrying Value | Commercial    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 51,725 33,658
Carrying Value | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 108,763 121,393
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial Real Estate Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Commercial Real Estate Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Residential Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Commercial Real Estate Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 975 975
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Residential Foreclosed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,809 244
Estimate of Fair Value Measurement | Commercial | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Commercial | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Commercial | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 51,725 33,658
Estimate of Fair Value Measurement | Commercial real estate | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Commercial real estate | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Estimate of Fair Value Measurement | Commercial real estate | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 108,763 $ 121,393
v3.25.2
Fair Value - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]          
Provision for credit losses $ 106,835 $ 36,214 $ 138,238 $ 55,105  
Other real estate owned and other repossessed property 2,800   2,800   $ 1,200
Other real estate owned property write-downs 500 400 $ 500 400  
Past due period of mortgage loans held for sale, days     90 days    
Interest income for residential loans held for sale 1,100 500 $ 1,700 800  
Impaired Commercial and Commercial Real Estate Loans          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]          
Principal amount of impaired commercial and commercial real estate loans 213,500   213,500   213,800
Valuation allowance 53,000   53,000   $ 58,700
Provision for credit losses $ 15,000 $ 7,400 $ 24,600 $ 17,000  
v3.25.2
Fair Value - Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements (Details) - Significant Unobservable Inputs (Level 3)
$ in Thousands
Jun. 30, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
Collateral Dependent Loans | Commercial    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 51,725 $ 33,658
Collateral Dependent Loans | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 108,763 $ 121,393
Collateral Dependent Loans | Minimum | Discount for type of property, age of appraisal, and current status | Commercial    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.11 0.09
Collateral Dependent Loans | Minimum | Discount for type of property, age of appraisal, and current status | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0 0.03
Collateral Dependent Loans | Maximum | Discount for type of property, age of appraisal, and current status | Commercial    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.50 0.49
Collateral Dependent Loans | Maximum | Discount for type of property, age of appraisal, and current status | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.32 0.46
Collateral Dependent Loans | Weighted Average | Discount for type of property, age of appraisal, and current status | Commercial    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.30 0.31
Collateral Dependent Loans | Weighted Average | Discount for type of property, age of appraisal, and current status | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.11 0.18
Foreclosed Assets | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 975 $ 975
Number of real estate properties | property 1  
Foreclosed Assets | Residential real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 1,809 $ 244
Foreclosed Assets | Discount for type of property, age of appraisal, and current status | Commercial real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.28 0.28
Foreclosed Assets | Discount for type of property, age of appraisal, and current status | Residential real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.24 0.24
Foreclosed Assets | Weighted Average | Discount for type of property, age of appraisal, and current status | Residential real estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable Input 0.24  
v3.25.2
Fair Value - Schedule of Difference between the Aggregate Fair Value and the Aggregate Remaining Principal Balance (Details) - Loans held-for-sale - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Option, Quantitative Disclosures [Line Items]    
Aggregate Fair Value $ 77,618 $ 34,483
Difference  1,749 271
Contractual Principal $ 75,869 $ 34,212
v3.25.2
Fair Value - Changes in Fair Value for Items Measured at Fair Value Pursuant to Election of the Fair Value (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Schedule of Trading Securities and Other Trading Assets [Line Items]        
Interest Income $ 514,790 $ 388,421 $ 902,433 $ 744,879
Loans held-for-sale        
Schedule of Trading Securities and Other Trading Assets [Line Items]        
Other Gains and (Losses) 783 105 1,386 (97)
Interest Income 101 6 101 6
Interest (Expense) 0 0 (9) (5)
Total Changes in Fair Values Included in Current Period Earnings $ 884 $ 111 $ 1,478 $ (96)
v3.25.2
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments, Not Carried at Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash, due from banks, money market,    and other interest-earning investments $ 1,808,571 $ 1,227,968  
Loans, net 47,337,710 35,893,365  
Noninterest-bearing demand deposits 12,652,556 9,399,019  
Time deposits 9,211,229 6,755,739  
Federal funds purchased and interbank borrowings 340,246 385  
Securities sold under agreements to repurchase 297,637 268,975 $ 240,713
FHLB advances 5,835,918 4,452,559  
Other borrowings 872,297 689,618  
Carrying Value      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash, due from banks, money market,    and other interest-earning investments 1,808,571 1,227,968  
Accrued interest receivable 270,373 233,010  
Noninterest-bearing demand deposits 12,652,556 9,399,019  
Checking, NOW, savings, and money market    interest-bearing deposits 32,493,898 24,668,802  
Time deposits 9,211,229 6,755,739  
Federal funds purchased and interbank borrowings 340,246 385  
Securities sold under agreements to repurchase 297,637 268,975  
FHLB advances 5,835,918 4,452,559  
Other borrowings 872,297 689,618  
Accrued interest payable 67,275 65,057  
Standby letters of credit 1,804 1,742  
Commitments to extend credit 0 0  
Carrying Value | U.S. government-sponsored entities and agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 836,662 832,984  
Carrying Value | Mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 941,464 970,212  
Carrying Value | States and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 1,148,242 1,151,685  
Carrying Value | Commercial      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 14,445,657 10,138,241  
Carrying Value | Commercial real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 21,584,336 16,105,961  
Carrying Value | Residential real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 8,180,392 6,774,664  
Carrying Value | Consumer credit      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 3,127,325 2,874,499  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash, due from banks, money market,    and other interest-earning investments 1,808,571 1,227,968  
Accrued interest receivable 898 912  
Noninterest-bearing demand deposits 12,652,556 9,399,019  
Checking, NOW, savings, and money market    interest-bearing deposits 32,493,898 24,668,802  
Time deposits 0 0  
Federal funds purchased and interbank borrowings 340,246 385  
Securities sold under agreements to repurchase 297,637 268,975  
FHLB advances 0 0  
Other borrowings 0 0  
Accrued interest payable 0 0  
Standby letters of credit 0 0  
Commitments to extend credit 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government-sponsored entities and agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | States and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1) | Consumer credit      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash, due from banks, money market,    and other interest-earning investments 0 0  
Accrued interest receivable 76,033 60,459  
Noninterest-bearing demand deposits 0 0  
Checking, NOW, savings, and money market    interest-bearing deposits 0 0  
Time deposits 9,169,678 6,727,453  
Federal funds purchased and interbank borrowings 0 0  
Securities sold under agreements to repurchase 0 0  
FHLB advances 5,796,841 4,340,188  
Other borrowings 874,585 689,246  
Accrued interest payable 67,275 65,057  
Standby letters of credit 0 0  
Commitments to extend credit 0 0  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | U.S. government-sponsored entities and agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 694,377 664,331  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 796,079 800,666  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | States and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 979,891 1,006,141  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Commercial      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Commercial real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Residential real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) | Consumer credit      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 0 0  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash, due from banks, money market,    and other interest-earning investments 0 0  
Accrued interest receivable 193,442 171,639  
Noninterest-bearing demand deposits 0 0  
Checking, NOW, savings, and money market    interest-bearing deposits 0 0  
Time deposits 0 0  
Federal funds purchased and interbank borrowings 0 0  
Securities sold under agreements to repurchase 0 0  
FHLB advances 0 0  
Other borrowings 0 0  
Accrued interest payable 0 0  
Standby letters of credit 1,804 1,742  
Commitments to extend credit 6,271 3,403  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | U.S. government-sponsored entities and agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 0 0  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 0 0  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | States and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Investment securities held to maturity 0 0  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Commercial      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 14,450,834 10,158,299  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Commercial real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 21,549,689 15,961,968  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Residential real estate      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net 7,426,652 6,080,709  
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) | Consumer credit      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Loans, net $ 2,991,794 $ 2,800,060  
v3.25.2
Segment Information (Details)
 6 Months Ended
Jun. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable operating segment 1