Short-Term Borrowings

9 Months Ended

Sep. 30, 2011

Short-Term Borrowings

Short-Term Borrowings

NOTE 12 – SHORT-TERM BORROWINGS

The following table presents the distribution of Old National's short-term borrowings and related weighted-average interest rates as of September 30, 2011:

								Other
		Federal Funds			Repurchase			Short-term
(dollars in thousands)		Purchased			Agreements			Borrowings			Total
2011
Outstanding at September 30, 2011	$	948		$	328,720		$	11,336		$	341,004
Average amount outstanding		1,580			335,078			8,988			345,646
Maximum amount outstanding at
any month-end		17,178			366,103			11,336
Weighted average interest rate:
During nine months ended
September 30, 2011		0.03	%		0.15	%		0.14	%		0.15	%
At September 30, 2011		0			0.15			0			0.15

Other Short-term Borrowings

As of September 30, 2011, Old National had $10.9 million of Treasury funds under the Treasury Tax and Loan Account program. These funds typically have a short duration, are collateralized and can be withdrawn by the Treasury Department at any time. At September 30, 2011, the effective interest rate on these funds was 0%. The remaining $0.4 million of short-term borrowings is a note payable to a life insurance company which was assumed as part of the Integra Bank acquisition. This note payable, which carries an effective interest rate of 7.26%, will mature in January 2012.