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Fair Value (Tables)
 3 Months Ended
Mar. 31, 2020
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 March 31, 2020 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$6,870  $6,870  $—  $—  
Investment securities available-for-sale:
U.S. Treasury11,733  11,733  —  —  
U.S. government-sponsored entities and agencies519,171  —  519,171  —  
Mortgage-backed securities - Agency3,210,000  —  3,210,000  —  
States and political subdivisions1,302,395  —  1,302,395  —  
Pooled trust preferred securities7,422  —  —  7,422  
Other securities309,304  31,670  277,634  —  
Residential loans held for sale54,209  —  54,209  —  
Derivative assets149,873  —  149,873  —  
Financial Liabilities
Derivative liabilities35,219  —  35,219  —  
  Fair Value Measurements at December 31, 2019 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$6,842  $6,842  $—  $—  
Investment securities available-for-sale:
U.S. Treasury17,682  17,682  —  —  
U.S. government-sponsored entities and agencies592,984  —  592,984  —  
Mortgage-backed securities - Agency3,183,861  —  3,183,861  —  
States and political subdivisions1,275,643  —  1,275,603  40  
Pooled trust preferred securities8,222  —  —  8,222  
Other securities306,699  31,169  275,530  —  
Residential loans held for sale46,898  —  46,898  —  
Derivative assets51,301  —  51,301  —  
Financial Liabilities
Derivative liabilities12,393  —  12,393  —  
Reconciliation of All Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
(dollars in thousands)Pooled Trust
Preferred Securities		States and
Political Subdivisions
Three Months Ended March 31, 2020  
Balance at beginning of period$8,222  $40  
Accretion of discount4  —  
Sales/payments received(17) (40) 
Decrease in fair value of securities(787) —  
Balance at end of period$7,422  $—  
Three Months Ended March 31, 2019
Balance at beginning of period$8,495  $4,108  
Accretion of discount4  —  
Sales/payments received(15) (35) 
Decrease in fair value of securities(361) —  
Transfers out of Level 3—  (4,033) 
Balance at end of period$8,123  $40  
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 Value Valuation Techniques Unobservable Input Range (Weighted Average) (4)
March 31, 2020       
Pooled trust preferred securities$7,422   Discounted cash flow Constant prepayment rate (1) 0.00%
    Additional asset defaults (2) 
6.1% - 9.1% (7.1%)
    Expected asset recoveries (3) 
0.0% - 18.6% (5.8%)
December 31, 2019      
Pooled trust preferred securities$8,222   Discounted cash flow Constant prepayment rate (1) 0.00%
    Additional asset defaults (2) 
6.2% - 8.0% (6.8%)
    Expected asset recoveries (3) 
0.0% - 19.1% (6.0%)
State and political subdivisions40   Discounted cash flow No observable inputs N/A
     Local municipality issuance  
     Old National owns 100%  
     Carried at par  
(1)Assuming no prepayments.
(2)Each currently performing pool asset is assigned a default probability based on the banking environment, which is adjusted for specific issuer evaluation, of 0%, 50%, or 100%.
(3)Each currently defaulted pool asset is assigned a recovery probability based on specific issuer evaluation of 0%, 25%, or 100%.
(4)Unobservable inputs are weighted by the estimated number of defaults and current performing collateral of the instruments.
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 InputRange (Weighted Average) (3)
March 31, 2020    
Collateral Dependent Impaired Loans    
Commercial loans$11,374  Fair value ofDiscount for type of property,
0% - 80% (42%)
 collateralage of appraisal, and current status
Commercial real estate loans (1)27,570  Fair value ofDiscount for type of property,0%
 collateralage of appraisal, and current status
Foreclosed Assets
Commercial real estate (1)214  Fair value ofDiscount for type of property,5%
collateralage of appraisal, and current status
December 31, 2019  
Collateral Dependent Impaired Loans  
Commercial loans$10,361  Fair value ofDiscount for type of property,
0% - 50% (13%)
 collateralage of appraisal, and current status
Commercial real estate loans (2)11,610  Fair value ofDiscount for type of property,45%
 collateralage of appraisal, and current status
Foreclosed Assets  
Commercial real estate (2)21  Fair value ofDiscount for type of property,43%
collateralage of appraisal, and current status
Residential (2)22  Fair value ofDiscount for type of property,21%
  collateralage of appraisal, and current status 
(1)There were no commercial real estate loans large enough to require a discount and there was only one foreclosed commercial real estate asset at March 31, 2020, so no range or weighted average is reported.
(2)There was only one collateral dependent impaired commercial real estate loan, one foreclosed commercial real estate asset, and one foreclosed residential asset at December 31, 2019, so no range or weighted average is reported.
(3)Unobservable inputs were weighted by the relative fair value of the instruments.
Assets Measured at Fair Value on a Non-Recurring Basis
Assets measured at fair value on a non-recurring basis are summarized below:
  Fair Value Measurements at March 31, 2020 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 Impaired Loans:    
Commercial loans$11,374  $—  $—  $11,374  
Commercial real estate loans27,570  —  —  27,570  
Foreclosed Assets:
Commercial214  —  —  214  
Loan servicing rights23,927  —  23,927  —  
Assets measured at fair value on a non-recurring basis are summarized below:
  Fair Value Measurements at December 31, 2019 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 Impaired Loans:    
Commercial loans$10,361  $—  $—  $10,361  
Commercial real estate loans11,610  —  —  11,610  
Foreclosed Assets:
Commercial real estate21  —  —  21  
Residential22  —  —  22  
Loan servicing rights4,662  —  4,662  —  
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 ValueDifference Contractual Principal
March 31, 2020   
Residential loans held for sale$54,209  $2,952  $51,257  
December 31, 2019
Residential loans held for sale$46,898  $1,529  $45,369  
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 March 31, 2020    
Residential loans held for sale$1,421  $2  $—  $1,423  
Three Months Ended March 31, 2019
Residential loans held for sale$90  $5  $—  $95  
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 March 31, 2020 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		$343,177  $343,177  $—  $—  
Loans, net:
Commercial3,012,704  —  —  2,984,123  
Commercial real estate5,226,694  —  —  5,184,989  
Residential real estate2,318,214  —  —  2,334,673  
Consumer credit1,720,620  —  —  1,718,474  
Accrued interest receivable77,810  41  23,744  54,025  
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits$4,058,559  $4,058,559  $—  $—  
Checking, NOW, savings, and money market
   interest-bearing deposits		8,705,109  8,705,109  —  —  
Time deposits1,541,694  —  1,563,286  —  
Federal funds purchased and interbank borrowings560,770  560,770  —  —  
Securities sold under agreements to repurchase318,067  318,067  —  —  
FHLB advances2,130,263  —  2,279,323  —  
Other borrowings236,114  —  242,995  —  
Accrued interest payable6,113  —  6,113  —  
Standby letters of credit459  —  —  459  
Off-Balance Sheet Financial Instruments
Commitments to extend credit$—  $—  $—  $15,647  
  Fair Value Measurements at December 31, 2019 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		$276,337  $276,337  $—  $—  
Loans, net:
Commercial2,867,711  —  —  2,831,298  
Commercial real estate5,145,204  —  —  5,130,848  
Residential real estate2,331,990  —  —  2,357,341  
Consumer credit1,718,000  —  —  1,676,253  
Accrued interest receivable85,123  15  28,185  56,923  
Financial Liabilities
Deposits:
Noninterest-bearing demand deposits$4,042,286  $4,042,286  $—  $—  
Checking, NOW, savings, and money market
   interest-bearing deposits		8,828,881  8,828,881  —  —  
Time deposits1,682,230  —  1,692,569  —  
Federal funds purchased and interbank borrowings350,414  350,414  —  —  
Securities sold under agreements to repurchase327,782  327,782  —  —  
FHLB advances1,822,847  —  1,875,089  —  
Other borrowings243,685  —  254,519  —  
Accrued interest payable8,272  —  8,272  —  
Standby letters of credit573  —  —  573  
Off-Balance Sheet Financial Instruments
Commitments to extend credit$—  $—  $—  $4,302