Interim Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

The following table details the quarterly results of operations for the years ended December 31, 2020 and 2019.


(unaudited, dollars and shares in thousands,	Three Months Ended								Three Months Ended
except per share data)	12/312020		9/302020		6/302020		3/312020		12/312019		9/302019		6/302019		3/312019
Interest income	$	173,249	$	160,086	$	161,974	$	167,999	$	176,553	$	185,853	$	189,063	$	178,918
Interest expense	12,170		14,513		16,303		24,228		27,654		32,757		33,833		31,870
Net interest income	161,079		145,573		145,671		143,771		148,899		153,096		155,230		147,048
Provision for loan losses (1)	(1,100)		—		22,545		16,950		1,264		1,437		1,003		1,043
Noninterest income	58,552		64,759		58,461		57,502		47,726		53,961		51,214		46,416
Noninterest expense (2)	142,318		120,234		120,121		158,744		134,743		122,585		128,118		123,041
Income before income taxes	78,413		90,098		61,466		25,579		60,618		83,035		77,323		69,380
Income tax expense	4,293		12,154		9,761		2,939		11,433		13,254		14,359		13,104
Net income	$	74,120	$	77,944	$	51,705	$	22,640	$	49,185	$	69,781	$	62,964	$	56,276
Net income per share:
Basic	$	0.45	$	0.47	$	0.32	$	0.13	$	0.29	$	0.41	$	0.37	$	0.32
Diluted	0.44		0.47		0.32		0.13		0.29		0.41		0.36		0.32
Average shares:
Basic	164,799		164,773		164,732		167,748		169,235		170,746		172,985		174,734
Diluted	165,631		165,419		165,302		168,404		170,186		171,551		173,675		175,368

(1)Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.

(2)Noninterest expense for the three months ended March 31, 2020 included $31.2 million of charges related to The ONB Way strategic initiative.