diff --git a/spring-core/src/main/java/org/springframework/core/io/support/PropertySourceProcessor.java b/spring-core/src/main/java/org/springframework/core/io/support/PropertySourceProcessor.java
index d24acd63275d..407c5019e71d 100644
--- a/spring-core/src/main/java/org/springframework/core/io/support/PropertySourceProcessor.java
+++ b/spring-core/src/main/java/org/springframework/core/io/support/PropertySourceProcessor.java
@@ -34,6 +34,7 @@
 import org.springframework.core.env.PropertySource;
 import org.springframework.core.io.Resource;
 import org.springframework.core.io.ResourceLoader;
+import org.springframework.lang.Nullable;
 import org.springframework.util.Assert;
 import org.springframework.util.ReflectionUtils;
 
@@ -44,6 +45,7 @@
  * single {@link PropertySource} rather than creating dedicated ones.
  *
  * @author Stephane Nicoll
+ * @author Sam Brannen
  * @since 6.0
  * @see PropertySourceDescriptor
  */
@@ -88,9 +90,10 @@ public void processPropertySource(PropertySourceDescriptor descriptor) throws IO
 				Resource resource = this.resourceLoader.getResource(resolvedLocation);
 				addPropertySource(factory.createPropertySource(name, new EncodedResource(resource, encoding)));
 			}
-			catch (IllegalArgumentException | FileNotFoundException | UnknownHostException | SocketException ex) {
-				// Placeholders not resolvable or resource not found when trying to open it
-				if (ignoreResourceNotFound) {
+			catch (RuntimeException | IOException ex) {
+				// Placeholders not resolvable (IllegalArgumentException) or resource not found when trying to open it
+				if (ignoreResourceNotFound && (ex instanceof IllegalArgumentException || isIgnorableException(ex) ||
+						isIgnorableException(ex.getCause()))) {
 					if (logger.isInfoEnabled()) {
 						logger.info("Properties location [" + location + "] not resolvable: " + ex.getMessage());
 					}
@@ -150,4 +153,14 @@ private static PropertySourceFactory instantiateClass(Class<? extends PropertySo
 		}
 	}
 
+	/**
+	 * Determine if the supplied exception can be ignored according to
+	 * {@code ignoreResourceNotFound} semantics.
+	 */
+	private static boolean isIgnorableException(@Nullable Throwable ex) {
+		return (ex instanceof FileNotFoundException ||
+				ex instanceof UnknownHostException ||
+				ex instanceof SocketException);
+	}
+
 }
diff --git a/spring-core/src/test/java/org/springframework/core/io/support/PropertySourceProcessorTests.java b/spring-core/src/test/java/org/springframework/core/io/support/PropertySourceProcessorTests.java
new file mode 100644
index 000000000000..ee663ec93422
--- /dev/null
+++ b/spring-core/src/test/java/org/springframework/core/io/support/PropertySourceProcessorTests.java
@@ -0,0 +1,182 @@
+/*
+ * Copyright 2002-2023 the original author or authors.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *      https://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.springframework.core.io.support;
+
+import java.io.FileNotFoundException;
+import java.io.IOException;
+import java.io.UncheckedIOException;
+import java.net.SocketException;
+import java.net.UnknownHostException;
+import java.util.List;
+
+import org.junit.jupiter.api.BeforeEach;
+import org.junit.jupiter.api.Nested;
+import org.junit.jupiter.api.Test;
+
+import org.springframework.core.env.PropertySource;
+import org.springframework.core.env.StandardEnvironment;
+import org.springframework.core.io.DefaultResourceLoader;
+import org.springframework.core.io.ResourceLoader;
+import org.springframework.util.ClassUtils;
+
+import static org.assertj.core.api.Assertions.assertThat;
+import static org.assertj.core.api.Assertions.assertThatExceptionOfType;
+import static org.assertj.core.api.Assertions.assertThatNoException;
+
+/**
+ * Unit tests for {@link PropertySourceProcessor}.
+ *
+ * @author Sam Brannen
+ * @since 6.0.12
+ */
+class PropertySourceProcessorTests {
+
+	private static final String PROPS_FILE = ClassUtils.classPackageAsResourcePath(PropertySourceProcessorTests.class) + "/test.properties";
+
+	private final StandardEnvironment environment = new StandardEnvironment();
+	private final ResourceLoader resourceLoader = new DefaultResourceLoader();
+	private final PropertySourceProcessor processor = new PropertySourceProcessor(environment, resourceLoader);
+
+
+	@BeforeEach
+	void checkInitialPropertySources() {
+		assertThat(environment.getPropertySources()).hasSize(2);
+	}
+
+	@Test
+	void processorRegistersPropertySource() throws Exception {
+		PropertySourceDescriptor descriptor = new PropertySourceDescriptor(List.of(PROPS_FILE), false, null, DefaultPropertySourceFactory.class, null);
+		processor.processPropertySource(descriptor);
+		assertThat(environment.getPropertySources()).hasSize(3);
+		assertThat(environment.getProperty("enigma")).isEqualTo("42");
+	}
+
+	@Nested
+	class FailOnErrorTests {
+
+		@Test
+		void processorFailsOnIllegalArgumentException() {
+			assertProcessorFailsOnError(IllegalArgumentExceptionPropertySourceFactory.class, IllegalArgumentException.class);
+		}
+
+		@Test
+		void processorFailsOnFileNotFoundException() {
+			assertProcessorFailsOnError(FileNotFoundExceptionPropertySourceFactory.class, FileNotFoundException.class);
+		}
+
+		private void assertProcessorFailsOnError(
+				Class<? extends PropertySourceFactory> factoryClass, Class<? extends Throwable> exceptionType) {
+
+			PropertySourceDescriptor descriptor =
+					new PropertySourceDescriptor(List.of(PROPS_FILE), false, null, factoryClass, null);
+			assertThatExceptionOfType(exceptionType).isThrownBy(() -> processor.processPropertySource(descriptor));
+			assertThat(environment.getPropertySources()).hasSize(2);
+		}
+
+	}
+
+	@Nested
+	class IgnoreResourceNotFoundTests {
+
+		@Test
+		void processorIgnoresIllegalArgumentException() {
+			assertProcessorIgnoresFailure(IllegalArgumentExceptionPropertySourceFactory.class);
+		}
+
+		@Test
+		void processorIgnoresFileNotFoundException() {
+			assertProcessorIgnoresFailure(FileNotFoundExceptionPropertySourceFactory.class);
+		}
+
+		@Test
+		void processorIgnoresUnknownHostException() {
+			assertProcessorIgnoresFailure(UnknownHostExceptionPropertySourceFactory.class);
+		}
+
+		@Test
+		void processorIgnoresSocketException() {
+			assertProcessorIgnoresFailure(SocketExceptionPropertySourceFactory.class);
+		}
+
+		@Test
+		void processorIgnoresSupportedExceptionWrappedInIllegalStateException() {
+			assertProcessorIgnoresFailure(WrappedIOExceptionPropertySourceFactory.class);
+		}
+
+		@Test
+		void processorIgnoresSupportedExceptionWrappedInUncheckedIOException() {
+			assertProcessorIgnoresFailure(UncheckedIOExceptionPropertySourceFactory.class);
+		}
+
+		private void assertProcessorIgnoresFailure(Class<? extends PropertySourceFactory> factoryClass) {
+			PropertySourceDescriptor descriptor = new PropertySourceDescriptor(List.of(PROPS_FILE), true, null, factoryClass, null);
+			assertThatNoException().isThrownBy(() -> processor.processPropertySource(descriptor));
+			assertThat(environment.getPropertySources()).hasSize(2);
+		}
+
+	}
+
+
+	private static class IllegalArgumentExceptionPropertySourceFactory implements PropertySourceFactory {
+
+		@Override
+		public PropertySource<?> createPropertySource(String name, EncodedResource resource) throws IOException {
+			throw new IllegalArgumentException("bogus");
+		}
+	}
+
+	private static class FileNotFoundExceptionPropertySourceFactory implements PropertySourceFactory {
+
+		@Override
+		public PropertySource<?> createPropertySource(String name, EncodedResource resource) throws IOException {
+			throw new FileNotFoundException("bogus");
+		}
+	}
+
+	private static class UnknownHostExceptionPropertySourceFactory implements PropertySourceFactory {
+
+		@Override
+		public PropertySource<?> createPropertySource(String name, EncodedResource resource) throws IOException {
+			throw new UnknownHostException("bogus");
+		}
+	}
+
+	private static class SocketExceptionPropertySourceFactory implements PropertySourceFactory {
+
+		@Override
+		public PropertySource<?> createPropertySource(String name, EncodedResource resource) throws IOException {
+			throw new SocketException("bogus");
+		}
+	}
+
+	private static class WrappedIOExceptionPropertySourceFactory implements PropertySourceFactory {
+
+		@Override
+		public PropertySource<?> createPropertySource(String name, EncodedResource resource) {
+			throw new IllegalStateException("Wrapped", new FileNotFoundException("bogus"));
+		}
+	}
+
+	private static class UncheckedIOExceptionPropertySourceFactory implements PropertySourceFactory {
+
+		@Override
+		public PropertySource<?> createPropertySource(String name, EncodedResource resource) {
+			throw new UncheckedIOException("Wrapped", new FileNotFoundException("bogus"));
+		}
+	}
+
+}
diff --git a/spring-core/src/test/resources/org/springframework/core/io/support/test.properties b/spring-core/src/test/resources/org/springframework/core/io/support/test.properties
new file mode 100644
index 000000000000..75456eb3817a
--- /dev/null
+++ b/spring-core/src/test/resources/org/springframework/core/io/support/test.properties
@@ -0,0 +1 @@
+enigma = 42