8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 1, 2011

OLD NATIONAL BANCORP

(Exact name of registrant as specified in its charter)

Indiana	001-15817	35-1539838
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One Main Street Evansville, Indiana	47708
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (812) 464-1294

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On August 1, 2011, Old National Bancorp reported its results for the second quarter and full year of 2011. The press release is included as Exhibit 99.1 hereto and is incorporated herein by reference. Old National Bancorp also released the financial trends including its second-quarter and full-year 2011 results. The financial trends are included as Exhibit 99.2 hereto and are incorporated herein by reference. In connection therewith, a slide presentation outlining second-quarter and full-year 2011 earnings, recent strategic developments and the company’s financial outlook will be available on Old National’s website to compliment the conference call to be held on August 1, 2011, at 10:00 a.m. CST and will be accessible at http://www.oldnational.com before the conference call begins.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits. The following exhibits are furnished herewith:

The following exhibits are furnished herewith and this list constitutes the exhibit index:

99.1	Press Release issued by Old National Bancorp on August 1, 2011
99.2	Financial Trends issued by Old National Bancorp on August 1, 2011

* * * * * * *

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 1, 2011

OLD NATIONAL BANCORP
By:	/s/ Christopher A. Wolking
	Christopher A. Wolking
	Senior Executive Vice President and Chief Financial Officer

3

EX-99.1

Exhibit 99.1

	Contacts:
FOR IMMEDIATE RELEASE —
August 1, 2011	Media:
	Kathy A. Schoettlin — (812) 465-7269
	Executive Vice President — Communications
	Financial Community:
	Lynell J. Walton — (812) 464-1366
	Senior Vice President — Investor Relations

Old National’s strong 2^nd quarter results reflect growth in
revenue and net income

2^nd Quarter Highlights:

• Quarterly net income increases 61.7% over 2^nd quarter 2010

• Results exceed analysts’ estimates

• Net interest margin continues climb to 3.67%

• Total revenues, net of securities gains, increases 11.1% over 2^nd quarter 2010 and 2.3% over 1^st quarter 2011

• Credit quality remains well controlled and capital position remains strong

• Board of Directors declares cash dividend of $.07 per common share

Evansville, Ind. (August 1, 2011) — Old National Bancorp (NYSE: ONB) continued its strong, consistent 2011 performance today when it reported 2^nd quarter net income of $17.0 million, or $.18 per share. These results — which exceeded analysts’ consensus estimates for the quarter — outpaced the net income of $16.4 million, or $.17 per share, reported in 1^st quarter 2011. They also represent a substantial increase of 61.7% over Old National’s 2^nd quarter 2010 net income of $10.5 million, or $.12 per share.

“These strong results demonstrate Old National’s ability to grow revenue while managing risk and expenses, and they reinforce our continued strength as a secure, client-focused community bank,” said Bob Jones, Old National Bancorp President and CEO. “Not only did our net income increase nearly 62% over 2^nd quarter 2010, our net interest margin continued to improve and our credit remained well controlled.

“We were also successful in controlling non-interest expenses for the quarter despite having to account for merit increases and one-time costs of $2.2 million related to the Monroe Bank acquisition we completed earlier this year,” Jones continued. “When you consider our early success with Monroe and its positive impact on our revenue and income, and then factor in our just-announced FDIC-assisted acquisition of all 52 Integra Bank branches, you can see that Old National is well-positioned for future success.” (See FDIC-Assisted Acquisition below for more details about this transaction, which was publicly announced Friday, July 29).

Old National Bancorp’s Board of Directors declared a common stock dividend of $.07 per share on the Company’s outstanding shares. This dividend is payable September 15, 2011, to shareholders of record on September 1, 2011. For purposes of broker trading, the ex-date of the cash dividend is August 30, 2011.

FDIC-Assisted Acquisition

As detailed in a news release distributed on Friday, July 29, Old National Bancorp has entered into a purchase and assumption agreement with loss share arrangements with the Federal Deposit Insurance Corporation (FDIC) to assume substantially all deposits of Integra Bank, a full service community bank headquartered in Evansville, Ind. With this acquisition, Old National now operates a total of 52 former Integra banking centers in Southern Illinois, Southern Indiana and Western Kentucky resulting in more than 220 total banking centers within its footprint. This acquisition is expected to be immediately accretive to 2011 earnings, excluding anticipated one-time charges.

Committed to our Strategic Imperatives

Old National’s strong, consistent 2011 performance can be attributed to our unwavering commitment to the following strategic imperatives:

1.	Strengthen the risk profile.
2.	Enhance management discipline.
3.	Achieve consistent quality earnings.

1. Strengthen the Risk Profile

Provision expense for the 2^nd quarter — at $3.2 million — was slightly lower than the $3.3 million recorded in 1^st quarter 2011 and significantly lower than the $8.0 million recorded in 2^nd quarter 2010. Old National’s net charge-offs for the quarter were $5.8 million, an increase of $2.9 million from the $2.9 million reported in 1^st quarter 2011 and a $2.4 million decrease from the $8.2 million in net charge-offs reported in 2^nd quarter 2010.

Old National’s allowance for loan losses at June 30, 2011, was $70.2 million, or 1.70% of total loans, compared to an allowance of $72.7 million, or 1.74% of total loans at March 31, 2011, and $71.9 million, or 1.93% of total loans, at June 30, 2010. The coverage of allowance to non-performing loans remained relatively stable at 59% at June 30, 2011, compared to 60% at March 31, 2011.

“Our 2^nd quarter 2011 results continued to reflect the impact of loans acquired as part of our Monroe Bank partnership, which was completed in the 1^st quarter of 2011,” said Chief Credit Officer Daryl Moore. “The Monroe Bancorp loan portfolio, in accordance with accounting for business combinations, was recorded at fair value with no allowance brought forward on these acquired loans. This was an expected result of our Monroe acquisition, and I’m pleased to say that our overall credit quality remains well-controlled.”

($ in millions)	2009			2010			3Q10			4Q10			1Q11			1Q11*			2Q11			2Q11*
Non-Performing Loans(NPLs)	$	67.0		$	70.9		$	69.8		$	70.9		$	121.4		$	82.4		$	118.4		$	79.7
Problem Loans (Including NPLs)	$	157.1		$	174.3		$	170.9		$	174.3		$	223.4		$	165.3		$	229.3		$	178.3
Special Mention Loans	$	103.5		$	84.0		$	75.0		$	84.0		$	115.8		$	94.6		$	105.6		$	85.8
Net Charge-Off Ratio		1.40	%		.75	%		.66	%		.74	%		.27	%		.30	%		.56	%		.53	%
Provision for Loan Losses	$	63.3		$	30.8		$	6.4		$	7.1		$	3.3		$	3.3		$	3.2		$	-0-

* Excludes the effect of the Monroe acquisition

2. Enhance Management Discipline

Expense Management

For the 2^nd quarter, Old National reported total noninterest expenses of $79.8 million, which were comparable to 1^st quarter 2011 noninterest expenses of $79.9 million. Noninterest expenses for 2^nd quarter 2011 included $7.0 million of Monroe-related expenses — of which $2.2 million were integration and conversion charges. Noninterest expenses for 1^st quarter 2011 included $7.9 million of Monroe-related expenses — of which $3.6 million were integration and conversion charges.

“Expense management continues to be an important part of our strategy in the current economic environment,” said President and CEO Bob Jones. “I’m extremely pleased that reported noninterest expenses were flat despite the fact that 2^nd quarter 2011 included approximately $.9 million in annual merit increases.”

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Capital Management

Old National’s capital position remained well above industry requirements at June 30, 2011, with regulatory tier 1 and total risk-based capital ratios of 13.4% and 14.9%, respectively, compared to 12.8% and 14.3% at March 31, 2011, and 15.1% and 17.0% at June 30, 2010.

The ratio of tangible common equity to tangible assets rose to 9.52% at June 30, 2011, compared to 9.12% at March 31, 2011, and 9.03% at June 30, 2010. Refer to Table 1 for Non-GAAP reconciliations.

Chris Wolking, Chief Financial Officer, noted: “Old National continues to operate from a very strong capital and liquidity position, which not only provides comfort to our clients, shareholders and the communities we serve, but which also positions Old National to continue to actively pursue merger and acquisition opportunities.”

	Well Capitalized			ONB at June 30, 2011
Tier 1 Risk-Based Capital Ratio		> 6	%		13.4	%
Total Risk-Based Capital Ratio		> 10	%		14.9	%
Tier 1 Leverage Capital Ratio		> 5	%		8.7	%

3. ACHIEVE CONSISTENT QUALITY EARNINGS

Balance Sheet and Net Interest Margin

Old National continues to enjoy growth in its residential real estate portfolio, which increased to $801.5 million at June 30, 2011, compared to $782.9 million at March 31, 2011. Loan demand in all other categories remains challenging, as Old National’s total loan portfolio decreased $70.5 million to $4.123 billion at June 30, 2011, from $4.194 billion at March 31, 2011. On average, total loans were $4.157 billion for 2^nd quarter 2011 compared to $4.206 billion for the 1^st quarter of 2011.

Total investments, including money market accounts, totaled $2.989 billion at June 30, 2011, a slight increase of $7.3 million compared to $2.982 billion at March 31, 2011. Average total investments were $2.960 billion for the 2^nd quarter compared to $2.913 billion in the 1^st quarter. Securities gains for the 2^nd quarter (net of $.2 million of other-than-temporary impairment) totaled $.5 million, compared to 1^st quarter securities gains (net of $.3 million of other-than-temporary impairment) of $1.2 million.

Total core deposits, including demand and interest-bearing deposits, decreased by $31.7 million in the 2^nd quarter to $5.954 billion at June 30, 2011, compared to $5.986 billion at March 31, 2011. While the period end balances to total core deposits declined, the mix of the deposit base improved. Noninterest-bearing demand deposits increased $83.2 million during the 2^nd quarter as did savings account balances with an increase of $112.2 million. Higher priced other time deposits declined $73.4 million in the 2^nd quarter.

Old National reported net interest income of $62.3 million for 2^nd quarter 2011 compared to $61.4 million in 1^st quarter 2011, and $55.2 million for 2^nd quarter 2010. Included in 2^nd quarter 2011 net interest income is $6.7 million associated with the Monroe acquisition and accretion of the purchase accounting marks. Included in 1^st quarter 2011 net interest income is $3.7 million associated with the Monroe acquisition and accretion of the purchase accounting marks. Net interest income on a fully taxable equivalent basis was $65.2 million for 2^nd quarter 2011 and represented a net interest margin on total average earning assets of 3.67%. This compares to net interest income on a fully taxable equivalent basis of $64.4 million and a margin of 3.62% in 1^st quarter 2011 and net interest income on a fully taxable equivalent basis of $58.6 million and a margin of 3.40% for 2^nd quarter 2010. Refer to Tables A and B for Non-GAAP taxable equivalent reconciliations.

Fees, Service Charges and Other Revenue

Total fees, service charges and other revenue were $42.9 million for 2^nd quarter 2011 compared to $41.3 million in 1^st quarter 2011 and $39.3 million in 2^nd quarter 2011. The Monroe acquisition contributed an additional $2.7 million in fees, service charges and other revenue during 2^nd quarter 2011 and an additional $2.3 million in 1^st quarter 2011. The 1^st quarter of 2011 contained $1.7 million in seasonal contingency revenue from the insurance business, compared to none in 2^nd quarter 2011 and 2^nd quarter 2010.

Page 3 of 8

About Old National

Old National Bancorp is the largest financial services holding company headquartered in Indiana and, with $8.0 billion in assets, ranks among the top 100 banking companies in the United States. Since its founding in Evansville in 1834, Old National has focused on community banking by building long-term, highly valued partnerships with clients in its primary footprint of Indiana, Illinois and Kentucky. In addition to providing extensive services in retail and commercial banking, wealth management, investments and brokerage, Old National also owns Old National Insurance which is one of the top 100 largest agencies in the US and the 10th largest bank-owned insurance agency. For more information and financial data, please visit Investor Relations at oldnational.com.

Conference Call

Old National will hold a conference call at 10:00 a.m. Central on Monday, August 1, 2011, to discuss second-quarter 2011 financial results, the acquisition of Integra Bank, strategic developments, and the Company’s financial outlook. The live audio web cast of the call, along with the corresponding presentation slides, will be available on the Company’s Investor Relations web page at oldnational.com and will be archived there for 12 months. A replay of the call will also be available from Noon Central on August 1 through August 15. To access the replay, dial 1-800-642-1687, conference code 82000278.

Use of Non-GAAP Financial Measures

This earnings release contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Old National’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this release or the Quarterly Financial Trends supplement to this earnings release, which can be found on the Investor Relations section of Old National’s website at oldnational.com.

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Forward-Looking Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends, profitability and statements about the financial benefits and other effects of the acquisition of certain assets and assumption of certain liabilities of Integra Bank from the FDIC. Forward-looking statements can be identified by the use of the words “anticipate,” “believe,” “expect,” “intend,” “could” and “should,” and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties and there are a number of factors that could cause actual results to differ materially from those in such statements. Factors that might cause such a difference include, but are not limited to; market, economic, operational, liquidity, credit and interest rate risks associated with Old National’s business, competition, government legislation and policies (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act and its related regulations), ability of Old National to execute its business plan, including the integration of the acquired Integra Bank assets and liabilities, changes in the economy which could materially impact credit quality trends and the ability to generate loans and gather deposits, failure or circumvention of Old National’s internal controls, failure or disruption of our information systems, significant changes in accounting, tax or regulatory practices or requirements, new legal obligations or liabilities or unfavorable resolutions of litigations, other matters discussed in this press release and other factors identified in the Company’s Annual Report on Form 10-K and other periodic filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this press release, and Old National undertakes no obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this release.

Table 1: Non-GAAP Reconciliation-Tangible Equity to Tangible Assets

(end of period balances - $ in millions)	June 30, 2011			March 31, 2011
Total Shareholders’ Equity	$	1,008.3		$	984.0
Deduct: Goodwill and Intangible Assets		(270.4	)		(271.0	)
Tangible Shareholders’ Equity	$	737.8		$	713.0
Total Assets	$	8,018.8		$	8,085.3
Add: Trust Overdrafts		.4			.1
Deduct: Goodwill and Intangible Assets		(270.4	)		(271.0	)
Tangible Assets	$	7,748.8		$	7,814.4
Tangible Equity to Tangible Assets		9.52	%		9.12	%

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OLD NATIONAL BANCORP
Financial Highlights (Table A)

	Three-Months Ended
($ in thousands except per-share data)	June 30,			March 31,
(FTE) Fully taxable equivalent basis.	2011			2011			Change			% Change
Income Data:
Net Interest Income	$	62,319		$	61,367		$	952			1.6	%
Taxable Equivalent Adjustment		2,908			3,020			(112	)		(3.7	)
Net Interest Income (FTE)		65,227			64,387			840			1.3
Fees, Service Charges and Other Revenues		42,902			41,289			1,613			3.9
Securities Gains (Losses) (a)		466			1,200			(734	)		(61.2	)
Derivative Gains (Losses)		221			332			(111	)		(33.4	)
Total Revenue (FTE)		108,816			107,208			1,608			1.5
Provision for Loan Losses		3,207			3,312			(105	)		(3.2	)
Noninterest Expense		79,758			79,925			(167	)		(.2	)
Income before Taxes		25,851			23,971			1,880			7.8
Provision for Taxes (FTE)		8,835			7,538			1,297			17.2
Net Income		17,016			16,433			583			3.5
Per Common Share Data: (Diluted) (b)
Net Income Attributable to Common Shareholders		.18			.17			.01			5.9
Average Diluted Shares Outstanding		94,701			94,670			31			-0-
Book Value		10.64			10.39			.25			2.4
Stock Price		10.80			10.72			.08			.7
Performance Ratios:
Return on Average Assets		.85	%		.82	%		.03	%		3.7
Return on Average Common Equity (c)		6.87			6.78			.09			1.3
Net Interest Margin (FTE)		3.67			3.62			.05			1.4
Other Expense to Revenue (Efficiency Ratio)		73.30			74.55			(1.25	)		(1.7	)
Net Charge-offs to Average Loans (d)		.56			.27			.29			107.4
Reserve for Loan Losses to Ending Loans		1.70			1.74			(.04	)		(2.3	)
Non-Performing Loans to Ending Loans (d)		2.88			2.90			(.02	)		(.7	)
Balance Sheet:
Average Assets	$	8,021,350		$	8,038,362		$	(17,012	)		(.2	)
End of Period Balances:
Assets		8,018,848			8,085,310			(66,462	)		(.8	)
Investments		2,793,152			2,696,689			96,463			3.6
Money Market Investments (e)		195,796			285,030			(89,234	)		(31.3	)
Commercial Loans and Leases		1,269,607			1,274,312			(4,705	)		(.4	)
Commercial Real Estate Loans		1,170,401			1,218,415			(48,014	)		(3.9	)
Consumer Loans		881,891			918,265			(36,374	)		(4.0	)
Residential Real Estate Loans		795,442			779,764			15,678			2.0
Residential Real Estate Loans Held for Sale		6,104			3,144			2,960			94.1
Earning Assets		7,112,393			7,175,619			(63,226	)		(.9	)
Core Deposits (Excluding Brokered CDs)		5,954,376			5,986,144			(31,768	)		(.5	)
Borrowed Funds (Including Brokered CDs)		806,386			887,610			(81,224	)		(9.2	)
Common Shareholders’ Equity		1,008,274			984,015			24,259			2.5

(a)	Includes $200 and $299, respectively, for other-than-temporary impairment in second quarter 2011 and first quarter 2011.
(b)	Assumes conversion of stock options, restricted stock and warrants.
(c)	Based on average common shareholders’ equity of $990,673 and $969,465, respectively, for June 30, 2011 and March 31, 2011.
(d)	Excludes residential loans held for sale and finance leases held for sale.
(e)	Includes money market investments and Federal Reserve interest earning accounts.
N/M = Not meaningful.

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OLD NATIONAL BANCORP
Financial Highlights (Table B)

	Three-Months Ended
($ in thousands except per-share data)	June 30,			June 30,
(FTE) Fully taxable equivalent basis.	2011			2010			Change			% Change
Income Data:
Net Interest Income	$	62,319		$	55,154		$	7,165			13.0	%
Taxable Equivalent Adjustment		2,908			3,470			(562	)		(16.2	)
Net Interest Income (FTE)		65,227			58,624			6,603			11.3
Fees, Service Charges and Other Revenues		42,902			39,335			3,567			9.1
Securities Gains (Losses) (a)		466			3,244			(2,778	)		(85.6	)
Derivative Gains (Losses)		221			395			(174	)		(44.1	)
Total Revenue (FTE)		108,816			101,598			7,218			7.1
Provision for Loan Losses		3,207			8,000			(4,793	)		(59.9	)
Noninterest Expense		79,758			77,871			1,887			2.4
Income before Taxes		25,851			15,727			10,124			64.4
Provision for Taxes (FTE)		8,835			5,204			3,631			69.8
Net Income		17,016			10,523			6,493			61.7
Per Common Share Data: (Diluted) (b)
Net Income Attributable to Common Shareholders		.18			.12			.06			50.0
Average Diluted Shares Outstanding		94,701			86,911			7,790			9.0
Book Value		10.64			10.03			.61			6.1
Stock Price		10.80			10.36			.44			4.2
Performance Ratios:
Return on Average Assets		.85	%		.55	%		.30	%		54.5
Return on Average Common Equity (c)		6.87			4.91			1.96			39.9
Net Interest Margin (FTE)		3.67			3.40			.27			7.9
Other Expense to Revenue (Efficiency Ratio)		73.30			76.65			(3.35	)		(4.4	)
Net Charge-offs to Average Loans (d)		.56			.90			(.34	)		(37.8	)
Reserve for Loan Losses to Ending Loans		1.70			1.93			(.23	)		(11.9	)
Non-Performing Loans to Ending Loans (d)		2.88			1.85			1.03			55.7
Balance Sheet:
Average Assets	$	8,021,350		$	7,671,155		$	350,195			4.6
End of Period Balances:
Assets		8,018,848			7,701,064			317,784			4.1
Investments		2,793,152			2,882,625			(89,473	)		(3.1	)
Money Market Investments (e)		195,796			307,672			(111,876	)		(36.4	)
Commercial Loans and Leases		1,269,607			1,292,841			(23,234	)		(1.8	)
Commercial Real Estate Loans		1,170,401			1,002,463			167,938			16.8
Consumer Loans		881,891			1,007,961			(126,070	)		(12.5	)
Residential Real Estate Loans		795,442			427,838			367,604			85.9
Residential Real Estate Loans Held for Sale		6,104			5,836			268			4.6
Earning Assets		7,112,393			6,927,236			185,157			2.7
Core Deposits (Excluding Brokered CDs)		5,954,376			5,601,432			352,944			6.3
Borrowed Funds (Including Brokered CDs)		806,386			981,475			(175,089	)		(17.8	)
Common Shareholders’ Equity		1,008,274			874,733			133,541			15.3

(a)	Includes $200 and $2,764, respectively, for other-than-temporary impairment in second quarter 2011 and second quarter 2010.
(b)	Assumes conversion of stock options, restricted stock and warrants.
(c)	Based on average common shareholders’ equity of $990,673 and $857,186, respectively, for 2011 and 2010.
(d)	Excludes residential loans held for sale and finance leases held for sale.
(e)	Includes money market investments and Federal Reserve interest earning accounts.
N/M = Not meaningful.

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OLD NATIONAL BANCORP
Financial Highlights

	Six-Months Ended
($ in thousands except per-share data)	June 30,			June 30,
(FTE) Fully taxable equivalent basis.	2011			2010			Change			% Change
Income Data:
Net Interest Income	$	123,686		$	110,271		$	13,415			12.2	%
Taxable Equivalent Adjustment		5,928			7,181			(1,253	)		(17.4	)
Net Interest Income (FTE)		129,614			117,452			12,162			10.4
Fees, Service Charges and Other Revenues		84,191			78,708			5,483			7.0
Securities Gains (Losses) (a)		1,666			6,242			(4,576	)		(73.3	)
Derivative Gains (Losses)		553			1,016			(463	)		(45.6	)
Total Revenue (FTE)		216,024			203,418			12,606			6.2
Provision for Loan Losses		6,519			17,281			(10,762	)		(62.3	)
Noninterest Expense		159,683			154,931			4,752			3.1
Income before Taxes		49,822			31,206			18,616			59.7
Provision for Taxes (FTE)		16,373			10,614			5,759			54.3
Net Income		33,449			20,592			12,857			62.4
Per Common Share Data: (Diluted) (b)
Net Income Attributable to Common Shareholders		.35			.24			.11			45.8
Average Diluted Shares Outstanding		94,674			86,889			7,785			9.0
Book Value		10.64			10.03			.61			6.1
Stock Price		10.80			10.36			.44			4.2
Performance Ratios:
Return on Average Assets		.83	%		.53	%		.30	%		56.6
Return on Average Common Equity (c)		6.83			4.83			2.00			41.4
Net Interest Margin (FTE)		3.64			3.37			.27			8.0
Other Expense to Revenue (Efficiency Ratio)		73.92			76.16			(2.24	)		(2.9	)
Net Charge-offs to Average Loans (d)		.41			.80			(.39	)		(48.8	)
Reserve for Loan Losses to Ending Loans		1.70			1.93			(.23	)		(11.9	)
Non-Performing Loans to Ending Loans (d)		2.88			1.85			1.03			55.7
Balance Sheet:
Average Assets	$	8,029,856		$	7,760,552		$	269,304			3.5
End of Period Balances:
Assets		8,018,848			7,701,064			317,784			4.1
Investments		2,793,152			2,882,625			(89,473	)		(3.1	)
Money Market Investments (e)		195,796			307,672			(111,876	)		(36.4	)
Commercial Loans and Leases		1,269,607			1,292,841			(23,234	)		(1.8	)
Commercial Real Estate Loans		1,170,401			1,002,463			167,938			16.8
Consumer Loans		881,891			1,007,961			(126,070	)		(12.5	)
Residential Real Estate Loans		795,442			427,838			367,604			85.9
Residential Real Estate Loans Held for Sale		6,104			5,836			268			4.6
Earning Assets		7,112,393			6,927,236			185,157			2.7
Core Deposits (Excluding Brokered CDs)		5,954,376			5,601,432			352,944			6.3
Borrowed Funds (Including Brokered CDs)		806,386			981,475			(175,089	)		(17.8	)
Common Shareholders’ Equity		1,008,274			874,733			133,541			15.3

(a)	Includes $499 and $3,269, respectively, for other-than-temporary impairment in 2011 and 2010.
(b)	Assumes conversion of stock options, restricted stock and warrants.
(c)	Based on average common shareholders’ equity of $980,069 and $853,063, respectively, for 2011 and 2010.
(d)	Excludes residential loans held for sale and finance leases held for sale.
(e)	Includes money market investments and Federal Reserve interest earning accounts.
N/M = Not meaningful.

Page 8 of 8

EX-99.2

Exhibit 99.2

Old National Bancorp

Financial Trends
Second Quarter 2011
August 1, 2011

Please direct inquiries to:

Christopher A. Wolking, Senior Executive Vice President & Chief Financial Officer (812) 464-1322 or Joan M. Kissel, Senior Vice President & Corporate Controller (812) 465-7290

Notes: -Summations may not equal due to rounding.

Old National Bancorp
Financial Summary
Second Quarter 2011

										2010												2011
2008			2009			2010				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
									Profitability (in millions)
$	62.5		$	13.7		$	38.2		Net Income (Loss)	$	10.1		$	10.5		$	11.9		$	5.7		$	16.4		$	17.0
	0.3			3.9			—		Preferred Dividend and Amort on Preferred Stock		—			—			—			—			—			—
	62.2			9.8			38.2		Net Income (Loss) Avail. to Common Shareholders		10.1			10.5			11.9			5.7			16.4			17.0
									Diluted EPS
$	0.95		$	0.14		$	0.44		Net Income (Loss) Avail. to Common Shareholders	$	0.12		$	0.12		$	0.13		$	0.07		$	0.17		$	0.18
									Ratios — Net Income
	9.49	%		1.41	%		4.40	%	Return on Average Common Equity		4.74	%		4.91	%		5.40	%		2.57	%		6.78	%		6.87	%
	0.82	%		0.17	%		0.50	%	Return on Average Assets		0.51	%		0.55	%		0.64	%		0.31	%		0.82	%		0.85	%
	69.18	%		81.54	%		78.18	%	Efficiency Ratio		75.68	%		76.65	%		76.64	%		83.83	%		74.55	%		73.30	%
	3.82	%		3.50	%		3.40	%	Net Interest Margin (FTE)		3.33	%		3.40	%		3.42	%		3.46	%		3.62	%		3.67	%
									Capital Ratios:
									Risk-Based Capital Ratios (EOP):
	12.7	%		14.3	%		13.6	%	Tier 1		14.2	%		15.1	%		15.4	%		13.6	%		12.8	%		13.4	%
	15.1	%		16.1	%		14.8	%	Total		16.1	%		17.0	%		17.3	%		14.8	%		14.3	%		14.9	%
	9.5	%		9.5	%		9.0	%	Leverage Ratio (to Average Assets)		9.4	%		9.8	%		10.2	%		9.0	%		8.4	%		8.7	%
	8.67	%		9.06	%		11.46	%	Total Equity to Assets (Averages)		10.81	%		11.17	%		11.80	%		12.09	%		12.06	%		12.35	%
	5.81	%		8.25	%		9.68	%	Tangible Common Equity to Tangible Assets (2)		8.62	%		9.03	%		9.58	%		9.68	%		9.12	%		9.52	%
									Per Common Share Data:
	0.69			0.44			0.28		Cash Dividends Declared (1)		0.07			0.07			0.07			0.07			0.07			0.07
	73	%		309	%		64	%	Dividend Payout Ratio (1)		60	%		58	%		51	%		106	%		40	%		39	%
	9.56			9.68			10.08		Common Book Value (EOP)		9.82			10.03			10.27			10.08			10.39			10.64
	18.16			12.43			11.89		Market Value (EOP)		11.95			10.36			10.50			11.89			10.72			10.80
	6.74			7.38			7.85		Tangible Common Book Value (2)		7.54			7.77			8.03			7.85			7.53			7.79
									Other Statistics
	2,507			2,812			2,491		Full Time Equivalent Employees		2,708			2,646			2,585			2,491			2,618			2,543

FTE — Fully taxable equivalent basis
EOP — End of period actual balances
(1)	The 1st Qtr 2008 dividend was declared in December 2007 and is included in the 2007 totals.
(2)	See Non-GAAP Reconciliation on Page 8.

PAGE 1

Old National Bancorp
INCOME STATEMENT
($ In Millions except EPS information)

Six Months				Change							Second Quarter				Change
2011		2010		$			%				2011		2010		$			%
$	153.2	$	152.9	$	0.3			0.2	%	Interest Income	$	76.9	$	75.6	$	1.3			1.7	%
	29.5		42.7		(13.2	)		-30.9	%	Less: Interest Expense		14.6		20.4		(5.9	)		-28.8	%
	123.7		110.3		13.4			12.2	%	Net Interest Income		62.3		55.2		7.2			13.0	%
	10.4		8.2		2.2			26.4	%	Wealth Management Fees		5.3		4.0		1.4			34.4	%
	24.0		25.1		(1.1	)		-4.3	%	Service Charges on Deposit Accounts		12.5		13.2		(0.7	)		-5.2	%
	12.0		11.5		0.5			4.5	%	ATM Fees		6.1		5.9		0.1			2.5	%
	1.9		1.1		0.7			66.1	%	Mortgage Banking Revenue		0.9		0.6		0.3			44.0	%
	19.6		19.1		0.5			2.4	%	Insurance Premiums and Commissions		9.0		8.9		0.1			1.1	%
	5.5		4.3		1.2			28.9	%	Investment Product Fees		2.9		2.2		0.7			31.3	%
	2.5		2.0		0.4			22.0	%	Company-owned Life Insurance		1.3		1.2		0.1			10.0	%
	8.3		7.4		1.0			13.5	%	Other Income		4.9		3.3		1.5			46.5	%
	84.2		78.7		5.5			7.0	%	Total Fees, Service Charges & Other Rev.		42.9		39.3		3.6			9.1	%
	1.7		6.2		(4.6	)		-73.3	%	Gains (Losses) Sales of Securities (1)		0.5		3.2		(2.8	)		-85.6	%
	0.6		1.0		(0.5	)		-45.6	%	Gains (Losses) Derivatives		0.2		0.4		(0.2	)		-44.0	%
	86.4		86.0		0.4			0.5	%	Total Noninterest Income		43.6		43.0		0.6			1.4	%
	210.1		196.2		13.9			7.1	%	Total Revenues		105.9		98.1		7.8			7.9	%
	87.6		83.5		4.1			4.9	%	Salaries and Employee Benefits		43.1		41.1		2.0			4.9	%
	24.5		24.1		0.4			1.8	%	Occupancy		12.2		11.8		0.4			3.2	%
	5.8		5.4		0.4			7.7	%	Equipment		2.8		2.6		0.2			8.2	%
	2.9		2.7		0.2			5.5	%	Marketing		1.6		1.4		0.2			14.2	%
	11.8		11.1		0.7			6.2	%	Data Processing		5.8		5.6		0.1			2.4	%
	5.0		5.2		(0.2	)		-3.5	%	Communication		2.6		2.5		0.2			6.9	%
	4.6		3.9		0.7			17.5	%	Professional Fees		2.1		2.2		(0.0	)		-1.9	%
	2.2		2.0		0.2			9.7	%	Loan Expenses		1.1		1.1		0.0			1.5	%
	1.5		1.5		0.1			5.1	%	Supplies		0.9		0.7		0.2			35.1	%
	4.0		4.1		(0.2	)		-3.9	%	FDIC Assessment		1.8		1.7		0.1			5.7	%
	9.7		11.4		(1.6	)		-14.4	%	Other Expense		5.7		7.2		(1.5	)		-21.3	%
	159.7		154.9		4.8			3.1	%	Total Noninterest Expense		79.8		77.9		1.9			2.4	%
	6.5		17.3		(10.8	)		-62.3	%	Provision for loan losses		3.2		8.0		(4.8	)		-59.9	%
	43.9		24.0		19.9			82.7	%	Income (loss) before Income Taxes		22.9		12.3		10.7			87.2	%
	10.4		3.4		7.0			N/M		Total Taxes		5.9		1.7		4.2			N/M
$	33.4	$	20.6	$	12.9			62.4	%	Net Income (Loss)	$	17.0	$	10.5	$	6.5			61.7	%
										Diluted EPS
$	0.35	$	0.24	$	0.12			49.4	%	Net Income (Loss) Avail to Common	$	0.18	$	0.12	$	0.06			48.8	%
										Average Common Shares Outstanding (000’s)
	94,456		86,769		7,687			8.9	%	Basic		94,479		86,786		7,693			8.9	%
	94,674		86,889		7,785			9.0	%	Diluted		94,701		86,911		7,790			9.0	%
	94,752		87,171		7,581			8.7	%	Common Shares Outstanding (EOP) (000’s)		94,752		87,171		7,581			8.7	%

(1)	Includes $0.7 million of net gains and $0.2 million of OTTI in 2Q11 and $6.0 million of net gains and $2.8 million of OTTI in 2Q10.
	Includes $2.2 million of net gains and $0.5 million of OTTI in YTD 2011 and $9.5 million of net gains and $3.3 million of OTTI in YTD 2010.

OTTI — Other Than Temporary Impairment

EOP — End of period actual balances

N/M = Not meaningful

PAGE 2

Old National Bancorp
NET INCOME TRENDS
Second Quarter 2011
($ In Millions except EPS information)

									2010								2011
2008			2009			2010			1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		1st Qtr		2nd Qtr		3rd Qtr	4th Qtr
$	392.5		$	340.7		$	296.8	Interest Income	$	77.3	$	75.6	$	72.9	$	71.0	$	76.3	$	76.9
	149.2			109.3			78.4	Less: Interest Expense		22.2		20.4		18.8		17.0		15.0		14.6
	243.3			231.4			218.4	Net Interest Income		55.1		55.2		54.2		54.0		61.4		62.3
	17.4			16.0			16.1	Wealth Management Fees		4.3		4.0		3.8		4.0		5.1		5.3
	45.2			55.2			50.0	Service Charges on Deposit Accounts		11.9		13.2		12.4		12.5		11.6		12.5
	17.2			20.5			23.0	ATM Fees		5.5		5.9		5.8		5.7		5.9		6.1
	5.1			6.2			2.2	Mortgage Banking Revenue		0.5		0.6		0.6		0.5		1.0		0.9
	39.2			37.9			36.5	Insurance Premiums and Commissions		10.2		8.9		8.7		8.7		10.6		9.0
	9.5			8.5			9.2	Investment Product Fees		2.1		2.2		2.3		2.6		2.6		2.9
	9.2			2.4			4.1	Company-owned Life Insurance		0.8		1.2		1.0		1.0		1.2		1.3
	17.9			13.7			14.4	Other Income		4.0		3.3		3.6		3.5		3.5		4.9
	160.6			160.3			155.5	Total Fees, Service Charges & Other Rev.		39.4		39.3		38.4		38.4		41.3		42.9
	7.6			2.5			13.2	Gains (Losses) Sales of Securities (1)		3.0		3.2		3.2		3.7		1.2		0.5
	(1.1	)		0.7			1.5	Gains (Losses) Derivatives		0.6		0.4		0.4		0.1		0.3		0.2
	167.0			163.5			170.1	Total Noninterest Income		43.0		43.0		42.0		42.2		42.8		43.6
	410.3			394.9			388.6	Total Revenues		98.1		98.1		96.1		96.2		104.2		105.9
	167.8			181.4			170.6	Salaries and Employee Benefits		42.4		41.1		41.7		45.4		44.5		43.1
	39.7			47.1			46.4	Occupancy		12.2		11.8		11.7		10.6		12.3		12.2
	9.5			10.4			10.6	Equipment		2.8		2.6		2.6		2.6		3.0		2.8
	9.6			9.6			5.7	Marketing		1.4		1.4		1.5		1.4		1.3		1.6
	19.0			20.7			21.4	Data Processing		5.5		5.6		5.1		5.1		6.1		5.8
	9.3			10.9			9.8	Communication		2.7		2.5		2.3		2.3		2.3		2.6
	7.2			9.5			8.3	Professional Fees		1.7		2.2		1.6		2.8		2.4		2.1
	6.6			4.3			3.9	Loan Expenses		0.9		1.1		1.0		0.9		1.1		1.1
	3.3			4.3			2.9	Supplies		0.8		0.7		0.7		0.8		0.6		0.9
	1.5			12.4			8.4	FDIC Assessment		2.4		1.7		2.1		2.2		2.2		1.8
	23.9			28.3			26.2	Other Expense		4.2		7.2		5.7		9.1		4.1		5.7
	297.2			339.0			314.3	Total Noninterest Expense		77.1		77.9		76.1		83.3		79.9		79.8
	51.5			63.3			30.8	Provision for Loan Losses		9.3		8.0		6.4		7.1		3.3		3.2
	61.6			(7.4	)		43.5	Income (loss) before Income Taxes		11.8		12.3		13.6		5.8		21.0		22.9
	(0.9	)		(21.1	)		5.3	Total Taxes		1.7		1.7		1.7		0.1		4.5		5.9
$	62.5		$	13.7		$	38.2	Net Income (Loss)	$	10.1	$	10.5	$	11.9	$	5.7	$	16.4	$	17.0
$	0.95		$	0.14		$	0.44	Net Income (Loss) Avail to Common	$	0.12	$	0.12	$	0.13	$	0.07	$	0.17	$	0.18
	65,660			71,314			86,785	Average Basic Common Shares (000’s)		86,752		86,786		86,795		86,804		94,433		94,479
	65,776			71,367			86,928	Average Diluted Common Shares (000’s)		86,797		86,911		86,931		87,005		94,670		94,701

(1) Gains (losses) on sales of securities are net of OTTI.

PAGE 3

Old National Bancorp
Balance Sheet (EOP)
Second Quarter 2011
($ in Millions)

																Change from Prior Year
	6/30/2011			3/31/2011			12/31/2010			9/30/2010			6/30/2010			6/30/2011 vs. 6/30/2010						12/31/2009			12/31/2008
																$			%
Assets
Fed Reserve Bank Account	$	193.3		$	273.9		$	141.4		$	18.0		$	283.2		$	(89.9	)		-31.7	%	$	317.5		$	—
Money Market Investments		2.5			11.1			2.8			25.1			24.5			(22.0	)		-89.7	%		35.6			30.1
Investments:
Treasury & Gov’t Sponsored Agencies		695.3			713.0			680.9			995.1			1,159.9			(464.6	)		-40.1	%		1,142.7			389.3
Mortgage-backed Securities		1,306.0			1,208.0			1,188.3			1,232.9			1,015.3			290.7			28.6	%		1,048.4			1,172.6
States & Political Subdivisions		585.3			559.3			566.3			554.7			510.5			74.8			14.7	%		534.6			482.2
Other Securities		206.6			216.4			194.8			198.0			197.0			9.6			4.9	%		192.7			221.7
Total Investments		2,793.2			2,696.7			2,630.4			2,980.7			2,882.6			(89.5	)		-3.1	%		2,918.3			2,265.8
Residential Real Estate Loans Held for Sale		6.1			3.1			3.8			3.5			5.8			0.3			4.6	%		17.5			17.2
Leases Held for Sale		—			—			—			—			—			—			N/M			55.3			—
Loans:
Commercial		1,176.7			1,175.0			1,105.3			1,151.6			1,171.8			4.9			0.4	%		1,209.3			1,510.4
Commercial Leases		92.9			99.3			106.1			115.3			121.0			(28.2	)		-23.3	%		77.9			387.6
Commercial & Agriculture Real Estate		1,170.4			1,218.4			942.4			981.5			1,002.5			167.9			16.8	%		1,062.9			1,154.9
Consumer:
Home Equity		255.7			259.5			248.3			260.0			264.6			(9.0	)		-3.4	%		274.8			270.0
Other Consumer Loans		626.2			658.8			676.6			711.7			743.3			(117.1	)		-15.8	%		807.2			941.0
Subtotal of Commercial & Consumer Loans		3,321.9			3,411.0			3,078.7			3,220.2			3,303.3			18.6			0.6	%		3,432.1			4,263.8
Residential Real Estate		795.4			779.8			664.7			483.0			427.8			367.6			85.9	%		403.4			496.5
Total Loans		4,117.3			4,190.8			3,743.5			3,703.1			3,731.1			386.2			10.4	%		3,835.5			4,760.4
Total Earning Assets		7,112.4			7,175.6			6,521.8			6,730.5			6,927.2			185.2			2.7	%		7,179.7			7,073.4
Allowance for Loan Losses		(70.2	)		(72.7	)		(72.3	)		(72.1	)		(71.9	)		(1.7	)		-2.3	%		(69.5	)		(67.1	)
Nonearning Assets:
Cash and Due from Banks		139.8			127.9			107.4			129.2			119.0			20.9			17.5	%		144.2			162.9
Premises & Equipment		65.9			66.7			48.8			50.1			51.5			14.5			28.1	%		52.4			44.6
Goodwill & Intangible Assets		270.4			271.0			194.1			195.6			197.1			73.4			37.2	%		200.2			186.8
Company-owned Life Insurance		245.8			244.5			226.2			226.0			225.1			20.8			9.2	%		224.7			223.1
Other Assets		254.6			272.2			238.0			247.0			253.2			1.5			0.6	%		273.8			250.1
Total Nonearning Assets		976.6			982.4			814.4			847.8			845.7			131.0			15.5	%		895.2			867.6
Total Assets	$	8,018.8		$	8,085.3		$	7,263.9		$	7,506.1		$	7,701.1		$	317.8			4.1	%	$	8,005.3		$	7,873.9
Liabilities & Equity
Noninterest-bearing Demand Deposits	$	1,504.6		$	1,421.4		$	1,276.0		$	1,267.4		$	1,170.2		$	334.4			28.6	%	$	1,188.3		$	888.6
NOW Accounts		1,333.0			1,448.0			1,297.4			1,163.6			1,295.2			37.8			2.9	%		1,354.3			1,292.6
Savings Accounts		1,304.2			1,192.0			1,079.4			1,046.0			1,037.7			266.5			25.7	%		972.2			874.6
Money Market Accounts		315.3			353.9			334.8			344.3			360.5			(45.1	)		-12.5	%		381.1			420.8
Other Time under $100,000		1,012.9			1,050.8			988.7			1,083.1			1,170.1			(157.2	)		-13.4	%		1,284.3			1,224.2
Other Time $100,000 & over		484.4			519.9			466.3			514.8			567.8			(83.5	)		-14.7	%		653.3			550.0
Total Core Deposits		5,954.4			5,986.1			5,442.7			5,419.2			5,601.4			352.9			6.3	%		5,833.5			5,250.8
Brokered CD’s		60.7			73.8			20.2			20.3			45.5			15.2			33.3	%		69.9			171.5
Total Deposits		6,015.1			6,059.9			5,462.9			5,439.4			5,647.0			368.1			6.5	%		5,903.5			5,422.3
Short-term Borrowings		305.2			374.3			298.2			367.8			331.6			(26.4	)		-8.0	%		331.1			649.6
Long-term Borrowings		440.5			439.6			421.9			578.3			604.4			(163.9	)		-27.1	%		699.1			834.9
Total Borrowed Funds		745.7			813.8			720.1			946.0			935.9			(190.3	)		-20.3	%		1,030.2			1,484.5
Accrued Expenses & Other Liabilities		249.8			227.5			202.0			224.9			243.4			6.4			2.6	%		227.8			236.2
Total Liabilities		7,010.6			7,101.3			6,385.1			6,610.4			6,826.3			184.2			2.7	%		7,161.5			7,143.0
Preferred Stock & Surplus		—			—			—			—			—			—			—			—			97.4
Common Stock, Surplus & Retained Earnings		991.9			980.5			880.1			879.9			873.6			118.3			13.5	%		864.2			687.0
Other Comprehensive Income		16.4			3.5			(1.3	)		15.8			1.2			15.2			N/M			(20.4	)		(53.5	)
Total Shareholders Equity		1,008.3			984.0			878.8			895.7			874.7			133.5			15.3	%		843.8			730.9
Total Liabilities & Shareholders Equity	$	8,018.8		$	8,085.3		$	7,263.9		$	7,506.1		$	7,701.1		$	317.8			4.1	%	$	8,005.3		$	7,873.9

EOP — End of period actual balances

N/M = Not meaningful

PAGE 4

Old National Bancorp
Balance Sheet Trends
PERIOD AVERAGES
($ in Millions)

										2010												2011
2008			2009			2010				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
									Assets
$	1.6		$	0.0		$	—		Fed Funds Sold & Resell Agreements	$	—		$	—		$	—		$	—		$	—		$	—
	—			41.2			152.3		Fed Reserve Bank Account		254.0			174.4			97.9			83.0			159.8			244.4
	20.3			38.5			25.4		Money Market Investments		30.7			30.6			24.3			16.2			6.7			7.1
									Investments:
	439.1			916.3			1,057.9		Treasury & Gov’t Sponsored Agencies		1,170.9			1,212.1			1,023.4			825.3			746.4			720.9
	1,130.7			1,063.3			1,092.6		Mortgage-backed Securities		1,028.5			1,019.7			1,135.0			1,187.3			1,225.2			1,212.8
	329.4			506.7			536.3		States & Political Subdivisions		559.7			530.4			502.7			552.4			561.2			567.8
	251.4			214.4			198.7		Other Securities		197.3			200.3			198.3			199.0			214.0			206.9
	2,150.6			2,700.7			2,885.6		Total Investments		2,956.5			2,962.6			2,859.4			2,764.0			2,746.7			2,708.3
	7.2			11.7			4.2		Residential Real Estate Loans Held for Sale		6.4			3.0			3.7			3.4			3.6			3.4
	—			84.9			24.2		Leases Held for Sale		54.1			42.7			—			—			—			—
									Loans:
	1,429.6			1,383.6			1,152.0		Commercial		1,172.6			1,137.0			1,160.6			1,137.7			1,187.3			1,180.7
	349.9			216.1			95.3		Commercial Leases		73.9			78.0			117.8			111.5			102.0			95.0
	1,205.1			1,117.3			1,007.6		Commercial & Agriculture Real Estate		1,050.2			1,021.6			992.0			966.8			1,219.6			1,189.1
									Consumer:
	254.9			273.1			264.7		Home Equity		273.8			267.7			262.6			254.7			266.3			257.6
	935.7			882.3			742.7		Other Consumer Loans		791.0			757.4			726.7			695.8			674.4			642.0
	4,175.1			3,872.5			3,262.3		Subtotal of Commercial & Consumer Loans		3,361.5			3,261.8			3,259.7			3,166.4			3,449.6			3,364.3
	520.9			457.8			460.5		Residential Real Estate		403.3			418.0			455.2			565.6			752.5			789.4
	4,696.0			4,330.2			3,722.9		Total Loans		3,764.7			3,679.8			3,714.9			3,732.1			4,202.0			4,153.6
	6,875.7			7,207.2			6,814.6		Total Earning Assets		7,066.5			6,893.0			6,700.2			6,598.7			7,118.9			7,116.9
	(62.0	)		(70.1	)		(73.9	)	Allowance for Loan Losses		(71.6	)		(73.7	)		(74.8	)		(75.3	)		(73.3	)		(73.8	)
	804.1			852.7			845.7		Nonearning Assets		855.0			851.9			840.6			835.4			992.8			978.2
$	7,617.8		$	7,989.8		$	7,586.4		Total Assets	$	7,850.0		$	7,671.2		$	7,466.0		$	7,358.7		$	8,038.4		$	8,021.3
									Liabilities & Equity
$	835.0		$	1,018.4		$	1,182.7		Noninterest-bearing Demand Deposits	$	1,146.5		$	1,151.5		$	1,182.7		$	1,249.9		$	1,395.7		$	1,452.6
	1,249.5			1,250.7			1,221.4		NOW Accounts		1,262.4			1,220.4			1,193.7			1,208.8			1,451.5			1,433.4
	886.4			937.6			1,043.3		Savings Accounts		1,011.7			1,051.4			1,039.8			1,070.3			1,159.7			1,252.4
	487.5			436.5			361.2		Money Market Accounts		379.7			372.1			352.7			340.1			352.4			336.6
	1,696.4			1,956.9			1,709.2		Other Time		1,882.3			1,757.1			1,661.4			1,536.0			1,616.4			1,530.7
	5,154.7			5,600.2			5,517.7		Total Core Deposits		5,682.7			5,552.5			5,430.4			5,405.1			5,975.6			6,005.7
	170.7			97.8			44.4		Brokered CD’s		69.9			64.8			22.5			20.3			79.7			65.1
	5,325.4			5,698.0			5,562.0		Total Deposits		5,752.6			5,617.3			5,452.8			5,425.3			6,055.3			6,070.8
	616.9			527.1			328.5		Short-term Borrowings		330.1			334.7			320.0			329.4			370.8			325.5
	810.1			812.1			615.0		Long-term Borrowings		699.1			650.9			593.4			516.6			441.5			439.4
	1,427.0			1,339.2			943.5		Total Borrowed Funds		1,029.2			985.6			913.4			846.0			812.4			764.9
	205.2			228.6			211.7		Accrued Expenses & Other Liabilities		219.2			211.1			218.7			197.6			201.2			194.9
	6,957.7			7,265.9			6,717.2		Total Liabilities		7,001.0			6,814.0			6,584.9			6,468.9			7,068.9			7,030.7
	5.2			24.1			—		Preferred Stock & Surplus		—			—			—			(0.0	)		—			—
	688.7			735.0			869.6		Common Stock, Surplus & Retained Earnings		863.2			865.9			873.8			875.6			970.8			983.6
	(33.7	)		(35.3	)		(0.4	)	Other Comprehensive Income		(14.2	)		(8.7	)		7.2			14.2			(1.3	)		7.1
	660.2			723.9			869.2		Total Shareholders Equity		848.9			857.2			881.0			889.8			969.5			990.7
$	7,617.8		$	7,989.8		$	7,586.4		Total Liabilities & Shareholders Equity	$	7,850.0		$	7,671.2		$	7,466.0		$	7,358.7		$	8,038.4		$	8,021.3

PAGE 5

Old National Bancorp
Interest Rate Trends (FTE basis)
PERIOD AVERAGES

										2010												2011
2008			2009			2010				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
									Earning Assets:
	3.40	%		0.17	%		0.24	%	Fed Funds Sold, Resell Agr, Fed Reserve Bank Acct, & Money Mkt		0.26	%		0.22	%		0.23	%		0.24	%		0.24	%		0.25	%
									Investments:
	4.90	%		4.01	%		3.21	%	Treasury & Gov’t Sponsored Agencies		3.46	%		3.26	%		3.11	%		2.93	%		2.45	%		2.29	%
	5.01	%		4.93	%		3.96	%	Mortgage-backed Securities		4.39	%		4.22	%		3.82	%		3.48	%		3.24	%		3.07	%
	6.91	%		6.72	%		6.19	%	States & Political Subdivisions		6.34	%		6.26	%		6.08	%		6.06	%		6.14	%		5.91	%
	5.54	%		4.93	%		4.68	%	Other Securities		4.71	%		4.79	%		4.49	%		4.75	%		4.36	%		4.42	%
	5.38	%		4.96	%		3.93	%	Total Investments		4.44	%		4.25	%		4.02	%		3.93	%		3.72	%		3.56	%
									Loans:
	5.65	%		4.00	%		4.21	%	Commercial		4.06	%		4.23	%		4.16	%		4.14	%		4.27	%		4.40	%
	6.82	%		6.72	%		6.45	%	Commercial Leases (1)		6.73	%		6.02	%		6.51	%		6.52	%		6.57	%		6.48	%
	6.22	%		4.62	%		4.47	%	Commercial & Agriculture Real Estate		4.48	%		4.47	%		4.36	%		4.31	%		5.12	%		5.88	%
									Consumer:
	5.51	%		3.57	%		3.68	%	Home Equity		3.63	%		3.67	%		3.70	%		3.71	%		3.79	%		3.80	%
	7.66	%		7.27	%		7.15	%	Other Consumer Loans		7.32	%		7.19	%		7.10	%		6.99	%		7.19	%		6.88	%
	6.35	%		5.08	%		4.76	%	Subtotal of Commercial & Consumer Loans		5.05	%		5.04	%		4.96	%		4.90	%		5.22	%		5.46	%
	5.87	%		5.63	%		5.64	%	Residential Real Estate Loans (1)		5.60	%		5.76	%		5.76	%		5.49	%		4.96	%		4.90	%
	6.30	%		5.14	%		5.07	%	Total Loans (1)		5.07	%		5.08	%		5.02	%		4.95	%		5.13	%		5.31	%
	5.99	%		5.02	%		4.55	%	Total Earning Assets		4.60	%		4.55	%		4.49	%		4.45	%		4.47	%		4.47	%
									Interest-bearing Liabilities:
	0.51	%		0.04	%		0.03	%	NOW Accounts		0.04	%		0.03	%		0.03	%		0.03	%		0.06	%		0.04	%
	1.46	%		0.38	%		0.30	%	Savings Accounts		0.31	%		0.30	%		0.30	%		0.29	%		0.30	%		0.28	%
	1.12	%		0.10	%		0.10	%	Money Market Accounts		0.10	%		0.10	%		0.10	%		0.10	%		0.11	%		0.11	%
	3.74	%		3.01	%		2.50	%	Other Time		2.62	%		2.49	%		2.43	%		2.43	%		2.13	%		2.13	%
	2.04	%		1.39	%		1.07	%	Total Interest-bearing Deposits		1.18	%		1.08	%		1.04	%		0.99	%		0.86	%		0.82	%
	4.25	%		4.26	%		4.51	%	Brokered CD’s		4.44	%		4.47	%		4.78	%		4.80	%		1.75	%		2.01	%
	2.13	%		1.45	%		1.11	%	Total Interest-bearing Deposits & CD’s		1.23	%		1.13	%		1.06	%		1.01	%		0.87	%		0.83	%
	1.77	%		0.27	%		0.20	%	Short-term Borrowings		0.31	%		0.18	%		0.16	%		0.16	%		0.16	%		0.14	%
	5.29	%		4.96	%		4.74	%	Long-term Borrowings		4.60	%		4.70	%		4.79	%		4.76	%		4.35	%		4.39	%
	3.77	%		3.11	%		3.16	%	Total Borrowed Funds		3.27	%		3.19	%		3.19	%		2.98	%		2.47	%		2.60	%
	2.52	%		1.82	%		1.47	%	Total Interest-bearing Liabilities		1.60	%		1.50	%		1.44	%		1.34	%		1.11	%		1.08	%
	3.47	%		3.20	%		3.08	%	Net Interest Rate Spread		3.00	%		3.05	%		3.05	%		3.12	%		3.36	%		3.39	%
	3.82	%		3.50	%		3.40	%	Net Interest Margin (FTE)		3.33	%		3.40	%		3.42	%		3.46	%		3.62	%		3.67	%
$	19.3		$	20.8		$	13.5		FTE Adjustment ($ in millions)	$	3.7		$	3.5		$	3.2		$	3.1		$	3.0		$	2.9

FTE — Fully taxable equivalent basis

(1) Includes residential loans and leases held for sale.

PAGE 6

Old National Bancorp
Asset Quality (EOP)
($ in Millions)

										2010												2011
2008			2009			2010				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
$	56.5		$	67.1		$	69.5		Beginning Allowance for Loan Losses	$	69.5		$	72.1		$	71.9		$	72.1		$	72.3		$	72.7
	51.5			63.3			30.8		Provision for Loan Losses		9.3			8.0			6.4			7.1			3.3			3.2
	—			—			—		Acquired from acquisition		—			—			—			—			—			—
	(51.2	)		(78.0	)		(41.3	)	Gross Charge-offs		(10.9	)		(11.8	)		(8.2	)		(10.4	)		(6.3	)		(8.9	)
	—			(0.6	)		—		Write-downs from Loans Sold		—			—			—			—			—			—
	10.4			17.8			13.3		Gross Recoveries		4.2			3.6			2.1			3.5			3.4			3.1
	(40.8	)		(60.8	)		(28.0	)	Net Charge-offs		(6.7	)		(8.2	)		(6.1	)		(6.9	)		(2.9	)		(5.8	)
$	67.1		$	69.5		$	72.3		Ending Allowance for Loan Losses	$	72.1		$	71.9		$	72.1		$	72.3		$	72.7		$	70.2
	0.87	%		1.40	%		0.75	%	Net Charge-offs / Average Loans (1)		0.72	%		0.90	%		0.66	%		0.74	%		0.27	%		0.56	%
$	4,696.0		$	4,330.2		$	3,722.9		Average Loans Outstanding (1)	$	3,764.7		$	3,679.8		$	3,714.9		$	3,732.1		$	4,202.0		$	4,153.6
$	4,760.4		$	3,835.5		$	3,743.5		EOP Loans Outstanding (1)	$	3,714.9		$	3,731.1		$	3,703.1		$	3,743.5		$	4,190.8		$	4,117.3
	1.41	%		1.81	%		1.93	%	Allowance for Loan Loss / EOP Loans (1)		1.94	%		1.93	%		1.95	%		1.93	%		1.74	%		1.70	%
									Underperforming Assets:
$	2.9		$	3.5		$	0.6		Loans 90 Days & over (still accruing)	$	1.3		$	0.5		$	1.4		$	0.6		$	0.7		$	0.4
									Non-performing Loans:
	64.0			67.0			70.9		Nonaccrual Loans (2)		68.1			68.9			69.8			70.9			121.4			118.4
	—			—			—		Renegotiated Loans		—			—			—			—			—			—
	64.0			67.0			70.9		Total Non-performing Loans		68.1			68.9			69.8			70.9			121.4			118.4
	2.9			8.1			5.6		Foreclosed properties		9.6			7.0			5.9			5.6			14.1			9.9
$	69.9		$	78.7		$	77.1		Total Underperforming Assets	$	79.1		$	76.3		$	77.1		$	77.1		$	136.3		$	128.8
$	180.1		$	157.1		$	174.3		Classified Loans — “Problem Loans”	$	160.5		$	157.7		$	170.9		$	174.3		$	223.4		$	229.3
	34.5			161.2			105.6		Other Classified Assets		158.5			152.3			148.0			105.6			92.5			117.3
	124.9			103.5			84.0		Criticized Loans — “Special Mention Loans”		104.9			100.7			75.0			84.0			115.8			105.6
$	339.5		$	421.7		$	363.9		Total Classified & Criticized Assets	$	423.8		$	410.7		$	393.9		$	363.9		$	431.7		$	452.2
	1.35	%		1.75	%		1.90	%	Non-performing loans / EOP Loans (1)		1.83	%		1.85	%		1.89	%		1.90	%		2.90	%		2.88	%
	105	%		104	%		102	%	Allowance to Non-performing Loans (3)		106	%		104	%		103	%		102	%		60	%		59	%
	1.47	%		2.05	%		2.06	%	Under-performing Assets / EOP Loans (1)		2.13	%		2.05	%		2.08	%		2.06	%		3.25	%		3.13	%
$	7,873.9		$	8,005.3		$	7,263.9		EOP Total Assets	$	7,818.3		$	7,701.1		$	7,506.1		$	7,263.9		$	8,085.3		$	8,018.8
	0.89	%		0.98	%		1.06	%	Under-performing Assets / EOP Assets		1.01	%		0.99	%		1.03	%		1.06	%		1.69	%		1.61	%

EOP — End of period actual balances

(1)	Excludes residential loans and leases held for sale.
(2)	Includes $7.5 million in 2Q11 of renegotiated loans.
(3)	In accordance with accounting for business combinations, there was no allowance brought forward on any of the 1/1/11 acquired loans, as the credit losses evident in the loans were included in the determination of the fair value of the loans at the acquisition date and are generally represented by the nonaccretable balance.

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Old National Bancorp
NON-GAAP MEASURES
Second Quarter 2011
($ In Millions except EPS information)

										2010												2011
2008			2009			2010				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
									Actual EOP Balances
$	730.9		$	843.8		$	878.8		GAAP Shareholders’ Equity	$	855.5		$	874.7		$	895.7		$	878.8		$	984.0		$	1,008.3
									Deduct:
	159.2			167.9			167.9		Goodwill		167.9			167.9			167.9			167.9			236.3			236.3
	27.6			32.3			26.2		Intangibles		30.7			29.2			27.7			26.2			34.7			34.1
	186.8			200.2			194.1				198.6			197.1			195.6			194.1			271.0			270.4
$	544.0		$	643.6		$	684.7		Tangible Shareholders’ Equity	$	657.0		$	677.7		$	700.1		$	684.7		$	713.0		$	737.8
									Deduct:
	97.4			—			—		Preferred Stock, Surplus & Retained Earnings		—			—			—			—			—			—
$	446.7		$	643.6		$	684.7		Tangible Common Shareholders’ Equity	$	657.0		$	677.7		$	700.1		$	684.7		$	713.0		$	737.8
									Actual EOP Balances
$	7,873.9		$	8,005.3		$	7,263.9		GAAP Assets	$	7,818.3		$	7,701.1		$	7,506.1		$	7,263.9		$	8,085.3		$	8,018.8
									Add:
	1.0			0.2			0.5		Trust Overdrafts		0.3			0.1			0.1			0.5			0.1			0.4
									Deduct:
	159.2			167.9			167.9		Goodwill		167.9			167.9			167.9			167.9			236.3			236.3
	27.6			32.3			26.2		Intangibles		30.7			29.2			27.7			26.2			34.7			34.1
	186.8			200.2			194.1				198.6			197.1			195.6			194.1			271.0			270.4
$	7,688.0		$	7,805.4		$	7,070.3		Tangible Assets	$	7,620.0		$	7,504.1		$	7,310.6		$	7,070.3		$	7,814.4		$	7,748.8
	5,555.2			5,173.1			4,720.9		Risk Weighted Assets		5,038.2			4,847.4			4,803.2			4,720.9			5,062.8			4,978.4
									Actual EOP Balances
$	62.5		$	13.7		$	38.2		GAAP Net Income	$	10.1		$	10.5		$	11.9		$	5.7		$	16.4		$	17.0
									Add:
	3.6			4.9			4.6		Intangible Amortization (net of tax)		1.2			1.1			1.1			1.1			1.6			1.5
$	66.1		$	18.6		$	42.8		Tangible Net Income	$	11.3		$	11.7		$	13.0		$	6.9		$	18.0		$	18.5
									Tangible Ratios
	14.79	%		2.89	%		6.26	%	Return on Tangible Common Equity		6.87	%		6.88	%		7.44	%		4.01	%		10.10	%		10.05	%
	0.86	%		0.24	%		0.61	%	Return on Tangible Assets		0.59	%		0.62	%		0.71	%		0.39	%		0.92	%		0.96	%
	5.81	%		8.25	%		9.68	%	Tangible Common Equity to Tangible Assets		8.62	%		9.03	%		9.58	%		9.68	%		9.12	%		9.52	%
	8.04	%		12.44	%		14.50	%	Tangible Common Equity to Risk Wgt Assets		13.04	%		13.98	%		14.58	%		14.50	%		14.08	%		14.82	%
	6.74			7.38			7.85		Tangible Common Book Value (1)		7.54			7.77			8.03			7.85			7.53			7.79

Tangible Common Equity is defined as GAAP Shareholders’ Equity less Preferred Stock, Goodwill and Intangibles.

Tangible Common Equity presentation includes Other Comprehensive Income (OCI) as is common in other company releases.

(1) Tangible Common Shareholders’ Equity Divided By Common Shares Issued and Outstanding at Period-End.

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