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Regulatory Restrictions
 12 Months Ended
Dec. 31, 2023
Compliance With Regulatory Capital Requirements Under Banking Regulations [Abstract]  
Regulatory Restrictions REGULATORY RESTRICTIONS
Restrictions on Cash and Due from Banks
Old National had cash and due from banks which was held as collateral for collateralized swap positions totaling $0.3 million at December 31, 2023 and $0.1 million at December 31, 2022.
Restrictions on Transfers from Bank Subsidiary
Regulations limit the amount of dividends a bank subsidiary can declare in any calendar year without obtaining prior regulatory approval. Prior regulatory approval is required if dividends to be declared in any calendar year would exceed the total of net income of the current year combined with retained net income for the preceding two years. Prior regulatory approval to pay dividends was not required in 2021, 2022, or 2023 and is not currently required. A bank subsidiary is prohibited from paying a dividend, if, after making the dividend, the bank would be considered “undercapitalized” (as defined by reference to the OCC’s capital regulations). At December 31, 2023, Old National
Bank could pay dividends of $670.4 million without prior regulatory approval and while maintaining capital levels above regulatory minima and well-capitalized guidelines.
Restrictions on the Payment of Dividends
Old National has traditionally paid a quarterly dividend to common shareholders. The payment of dividends is subject to legal and regulatory restrictions, as well as approval by our Board of Directors. Any payment of dividends in the future will depend, in large part, on Old National’s earnings, capital requirements, financial condition, and other factors considered relevant by our Board of Directors.
Capital Adequacy
Old National and Old National Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can elicit certain mandatory actions by regulators that, if undertaken, could have a direct material effect on Old National’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Old National and Old National Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Quantitative measures established by regulation to ensure capital adequacy require Old National and Old National Bank to maintain minimum amounts and ratios as set forth in the following tables.
At December 31, 2023, Old National and Old National Bank each exceeded the capital ratios required to be considered “well-capitalized” under applicable regulations.
The following table summarizes capital ratios for Old National and Old National Bank:
 Actual
Regulatory Minimum (1)
Prompt Corrective Action
“Well Capitalized”
Guidelines (2)
(dollars in thousands)AmountRatioAmountRatioAmountRatio
December 31, 2023
Total capital to risk-weighted
   assets
Old National Bancorp$4,727,216 12.64 %$3,927,771 10.50 %$3,740,735 10.00 %
Old National Bank4,591,734 12.33 3,911,089 10.50 3,724,847 10.00 
Common equity Tier 1 capital
   to risk-weighted assets
Old National Bancorp4,003,694 10.70 2,618,514 7.00 N/AN/A
Old National Bank4,308,574 11.57 2,607,393 7.00 2,421,150 6.50 
Tier 1 capital to risk-weighted
   assets
Old National Bancorp4,247,413 11.35 3,179,625 8.50 2,244,441 6.00 
Old National Bank4,308,574 11.57 3,166,120 8.50 2,979,878 8.00 
Tier 1 capital to average assets
Old National Bancorp4,247,413 8.83 1,923,360 4.00 N/AN/A
Old National Bank4,308,574 8.99 1,916,002 4.00 2,395,003 5.00 
December 31, 2022
Total capital to risk-weighted
   assets
Old National Bancorp$4,321,716 12.02 %$3,774,845 10.50 %$3,595,090 10.00 %
Old National Bank4,063,363 11.35 3,759,671 10.50 3,580,639 10.00 
Common equity Tier 1 capital
   to risk-weighted assets
Old National Bancorp3,605,393 10.03 2,516,563 7.00 N/AN/A
Old National Bank3,817,402 10.66 2,506,448 7.00 2,327,416 6.50 
Tier 1 capital to risk-weighted
   assets
Old National Bancorp3,849,112 10.71 3,055,827 8.50 2,157,054 6.00 
Old National Bank3,817,402 10.66 3,043,544 8.50 2,864,512 8.00 
Tier 1 capital to average assets
Old National Bancorp3,849,112 8.52 1,808,108 4.00 N/AN/A
Old National Bank3,817,402 8.47 1,803,426 4.00 2,254,282 5.00 
(1)“Regulatory Minimum” capital ratios include the 2.5% “capital conservation buffer” required under the Basel III Capital Rules.
(2)“Well-capitalized” minimum common equity Tier 1 capital to risk-weighted assets and Tier 1 capital to average assets ratios are not formally defined under applicable banking regulations for bank holding companies.

During 2020, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC issued final rules to delay the estimated impact on regulatory capital stemming from the implementation of CECL. The final rules provide banking organizations the option to delay for two years an estimate of CECL’s effect on regulatory capital, relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period (five-year transition option). Old National adopted the capital transition relief over the permissible five-year period.