Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS
	December 31,
(dollars in thousands)	2020		2019
Assets
Deposits in affiliate bank	$	73,340	$	41,289
Equity securities	2,435		6,724
Investment securities - available-for-sale	14,198		4,018
Investment in affiliates:
Banking subsidiaries	3,037,930		2,966,575
Non-banks	4,969		4,885
Other assets	89,776		89,093
Total assets	$	3,222,648	$	3,112,584
Liabilities and Shareholders' Equity
Other liabilities	$	36,746	$	36,369
Other borrowings	213,246		223,762
Shareholders' equity	2,972,656		2,852,453
Total liabilities and shareholders' equity	$	3,222,648	$	3,112,584

Condensed Statements of Income

OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENTS OF INCOME
	Years Ended December 31,
(dollars in thousands)	2020		2019		2018
Income
Dividends from affiliates	$	230,000	$	165,000	$	105,000
Debt securities gains (losses), net	574		631		49
Other income	3,622		2,209		2,126
Other income from affiliates	5		5		5
Total income	234,201		167,845		107,180
Expense
Interest on borrowings	8,649		10,203		10,425
Other expenses	16,351		15,505		21,936
Total expense	25,000		25,708		32,361
Income before income taxes and equity    in undistributed earnings of affiliates	209,201		142,137		74,819
Income tax expense (benefit)	(5,317)		(6,165)		(5,693)
Income before equity in undistributed    earnings of affiliates	214,518		148,302		80,512
Equity in undistributed earnings of affiliates	11,891		89,904		110,318
Net income	$	226,409	$	238,206	$	190,830

Condensed Statement of Cash Flows

OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENT OF CASH FLOWS
	Years Ended December 31,
(dollars in thousands)	2020		2019		2018
Cash Flows From Operating Activities
Net income	$	226,409	$	238,206	$	190,830
Adjustments to reconcile net income to cash    provided by operating activities:
Depreciation	46		52		53
Debt securities (gains) losses, net	(574)		(631)		(49)
Share-based compensation expense	7,707		7,993		8,118
(Increase) decrease in other assets	(51)		(3,685)		28,754
Increase (decrease) in other liabilities	1,084		1,046		3,147
Equity in undistributed earnings of affiliates	(11,891)		(89,904)		(110,318)
Net cash flows provided by (used in) operating activities	222,730		153,077		120,535
Cash Flows From Investing Activities
Net cash and cash equivalents of acquisitions	—		—		8,281
Proceeds from dissolution of subsidiary	—		224		—
Proceeds from sales of equity securities	4,431		130		128
Purchases of investment securities	(10,073)		(3,085)		(76)
Proceeds from sales of premises and equipment	354		847		1,065
Purchases of premises and equipment	(354)		(869)		(945)
Net cash flows provided by (used in) investing activities	(5,642)		(2,753)		8,453
Cash Flows From Financing Activities
Payments for maturities/redemptions of other borrowings	(10,310)		(8,000)		—
Cash dividends paid on common stock	(92,946)		(89,474)		(82,161)
Common stock repurchased	(82,358)		(102,413)		(1,805)
Proceeds from exercise of stock options	—		280		948
Common stock issued	577		567		497
Net cash flows provided by (used in) financing activities	(185,037)		(199,040)		(82,521)
Net increase (decrease) in cash and cash equivalents	32,051		(48,716)		46,467
Cash and cash equivalents at beginning of period	41,289		90,005		43,538
Cash and cash equivalents at end of period	$	73,340	$	41,289	$	90,005