8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): April 30, 2012

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:

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

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

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

¨ 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 April 30, 2012, Old National Bancorp reported its results for the first quarter of 2012. 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 first-quarter 2012 results. The financial trends are included as Exhibit 99.2 hereto and are incorporated herein by reference. In connection therewith, a slide presentation outlining first-quarter 2012 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 April 30, 2012, at 10:00 a.m. CST and will be accessible at http://www.oldnational.com before the conference call begins.

Item 8.01 Other Events

On April 30, 2012, Old National Bancorp issued a press release disclosing certain information relevant to the previously announced pending merger of Indiana Community Bancorp with and into Old National Bancorp. A copy of the press release is included as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

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

Exhibit No.	Description
99.1	Press Release issued by Old National Bancorp on April 30, 2012
99.2	Financial Trends issued by Old National Bancorp on April 30, 2012

*  *  *  *   *  *  *

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: April 30, 2012

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

3

Exhibit Index

Exhibit No.	Description
99.1	Press Release issued by Old National Bancorp on April 30, 2012
99.2	Financial Trends issued by Old National Bancorp on April 30, 2012

4

EX-99.1

Exhibit 99.1

Filed by Old National Bancorp

Pursuant to Rule 425 under the Securities Act of 1933

Subject Company: Indiana Community Bancorp

Commission File No.: 000-18847

  FOR IMMEDIATE RELEASE April 30, 2012 NYSE: ONB   oldnational.com   Contacts:   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 Bancorp begins year with strong first quarter results

1^st QUARTER HIGHLIGHTS:

• Quarterly net income increases 32% over 1^st quarter 2011

• EPS of $.23 includes $.8 million of acquisition and integration expenses and $1.9 million of net Integra-related OREO expenses

• Credit quality metrics and capital position remain strong and continue to improve

• Board of Directors declares cash dividend of $.09 per common share

Evansville, Ind. (April 30, 2012) – Today Old National Bancorp (NYSE: ONB) reported 1^st quarter net income of $21.7 million, or $.23 per share. Included in these results were $.8 million of acquisition and integration expenses and $1.9 million of net Integra-related other real estate owned (OREO) expenses. These 1^st quarter results compare to the net income of $22.2 million, or $.23 per share, that Old National reported in 4^th quarter 2011, and reflect a 32.2% increase over 1^st quarter 2011 net income.

First quarter 2012 results included $.8 million in acquisition-related expenses, half of which resulted from the July 29, 2011, FDIC –assisted acquisition of Integra Bank with the other half from the pending acquisition of Indiana Community Bancorp (announced January 25, 2012). Excluding these acquisition expenses, Old National’s 1^st quarter earnings would have been $22.3 million, or $.24 per share. Fourth quarter 2011 results also included a total of $5.2 million in acquisition-related expenses: $.8 million from the Monroe Bancorp acquisition that was completed 1^st quarter of 2011 and $4.4 million from the Integra Bank acquisition. Excluding these acquisition expenses, Old National’s 4^th quarter 2011 earnings would have been $25.9 million, or $.27 per share. Refer to Table 1 and Table 2 for Non-GAAP reconciliations.

Old National Bancorp’s Board of Directors also declared a common stock dividend of $.09 per share on the Company’s outstanding shares. This dividend is payable June 15, 2012, to shareholders of record on June 1, 2012. For purposes of broker trading, the ex-date of the cash dividend is May 30, 2012.

“The positive impact from our recent acquisitions, along with our focus on improving already strong capital and credit metrics, maintaining a low-cost core funding base, and improving efficiencies within our core bank, have resulted in another strong quarter for Old National,” stated Old National President and CEO Bob Jones. “While our C&I portfolio has been negatively impacted by runoff associated with the acquisitions and moderate organic growth, the economy is slowly improving and we have seen loan growth in key consumer segments.”

FDIC-Assisted Acquisition

On July 29, 2011, Old National Bancorp acquired certain assets and assumed substantially all deposits and certain liabilities of Integra Bank, N.A. (Integra) from the Federal Deposit Insurance Corporation (FDIC) in an FDIC-assisted transaction.

As part of this transaction, Old National entered into loss sharing agreements with the FDIC that cover, as of March 31, 2012, $548.6 million in fair value of loans (covered loans) and $24.7 million in fair value of other real estate owned. According to the terms of the loss sharing agreements, the FDIC will reimburse Old National for 80% of the losses up to $275.0 million, 0% of losses from $275.0 million up to $467.2 million and 80% of losses in excess of $467.2 million. The loss sharing agreement applicable to single-family residential mortgage loans remains in effect for 10 years. The loss sharing agreement applicable to other covered assets is five years for losses and eight years for recoveries.

Committed to our Strategic Imperatives

Old National’s strong 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

Credit Quality

Old National reported provision expense in the 1^st quarter of 2012 of $2.1 million, compared to $1.0 million in the 4^th quarter of 2011 and $3.3 million in the 1^st quarter of 2011. Old National’s net charge-offs for 1^st quarter 2012 were $4.2 million, or .36% of total loans, compared to $8.5 million, or .71% of total loans in 4^th quarter 2011 and $2.9 million, or .27% of total loans, in 1^st quarter 2011.

Excluding covered loans, provision expense for the 1^st quarter of 2012 was $1.0 million, compared to essentially none in 4^th quarter 2011 and $3.3 million in 1^st quarter 2011. Old National’s net charge-offs for the 1^st quarter, excluding covered loans, were $3.4 million, a decrease of $4.8 million from the $8.2 million reported in 4^th quarter 2011 and an increase of $.5 million from the $2.9 million in net charge-offs reported in 1^st quarter 2011.

Excluding covered loans, Old National’s allowance for loan losses at March 31, 2012, was $54.7 million, or 1.33% of total loans, compared to an allowance of $57.1 million, or 1.38% of total loans at December 31, 2011, and $72.7 million, or 1.74% of total loans, at March 31, 2011. Excluding covered loans, the coverage of allowance to non-performing loans stood at 48% at March 31, 2012, compared to 49% at December 31, 2011.

“We continue to be pleased with consistent improvement in our already strong credit metrics as well as the performance of the covered Integra portfolio,” stated Chief Credit Officer Daryl Moore. “In the quarter we saw meaningful reductions in Special Mention and Problem Loans, both in our covered Integra portfolio as well as our non-FDIC related portfolio. In addition, on a consolidated basis, we saw declines in our OREO balances as well as in our 30+ day delinquent loan levels. Overall, it was a strong quarter from a credit standpoint.”

The following table presents certain credit quality metrics related to Old National’s loan portfolio:

($ in millions)	2009			2010			2011			4Q11			4Q11*			1Q12			1Q12*
Non-Performing Loans(NPLs)	$	67.0		$	70.9		$	299.5		$	299.5		$	116.7		$	272.6		$	114.1
Problem Loans (Including NPLs)	$	157.1		$	174.3		$	404.3		$	404.3		$	204.1		$	370.0		$	184.0
Special Mention Loans	$	103.5		$	84.0		$	103.2		$	103.2		$	80.1		$	97.2		$	77.1
Net Charge-Off Ratio		1.40	%		.75	%		.49	%		.71	%		.79	%		.36	%		.33	%
Provision for Loan Losses	$	63.3		$	30.8		$	7.5		$	1.0		$	.1		$	2.1		$	1.0

* Excludes covered loans.

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2. ENHANCE MANAGEMENT DISCIPLINE

Expense Management

Old National reported total noninterest expenses of $91.3 million for the 1^st quarter of 2012, compared to $93.7 million in the 4^th quarter of 2011 and $79.9 million for the 1^st quarter of 2011. Noninterest expenses for 1^st quarter 2012 included $9.7 million in OREO expenses related to Integra Bank assets of which 80% are reimbursable to Old National under the terms of the loss share agreement and recorded as a change to the indemnification asset in other income. The 1^st quarter of 2012 also included $.4 million and $.4 million, respectively, of Integra Bank and Indiana Community Bancorp-related acquisition costs. Noninterest expenses for 4^th quarter 2011 included $4.4 million and $.8 million, respectively, of Integra Bank and Monroe Bancorp-related acquisition costs.

Capital Management

Old National’s capital position remained well above industry requirements at March 31, 2012, with regulatory tier 1 and total risk-based capital ratios of 14.0% and 15.4%, respectively, compared to 13.5% and 15.0% at December 31, 2011, and 12.8% and 14.3% at March 31, 2011.

The ratio of tangible common equity to tangible assets improved to 9.23% at March 31, 2012, compared to 8.97% at December 31, 2011, and 9.12% at March 31, 2011. Refer to Table 3 for Non-GAAP reconciliations.

	Well Capitalized			ONB at March 31, 2012
Tier 1 Risk-Based Capital Ratio		> 6	%		14.0	%
Total Risk-Based Capital Ratio		> 10	%		15.4	%
Tier 1 Leverage Capital Ratio		> 5	%		8.8	%

3. ACHIEVE CONSISTENT QUALITY EARNINGS

Balance Sheet and Net Interest Margin

At March 31, 2012, Old National’s total loans were $4.667 billion compared to $4.772 billion at December 31, 2011, a decrease of $104.6 million. The majority of the decrease ($77.8 million) occurred in the covered loan portfolio and came primarily as a result of payoffs and paydown activity. For 1^st quarter 2012 average total loans were $4.711 billion, a $101.7 million decrease from the $4.813 billion for the 4^th quarter 2011.

Total investments, including money market accounts, amounted to $2.775 billion at March 31, 2012, an increase of $154.5 million compared to $2.621 billion at December 31, 2011. Average total investments were $2.651 billion for the 1^st quarter compared to $2.761 billion in the 4^th quarter. Securities gains for the 1^st quarter (net of $.1 million of other-than-temporary impairment) totaled $.5 million, compared to 4^th quarter securities gains of $2.8 million (net of $.9 million of other-than-temporary impairment).

Total core deposits, including demand and interest-bearing deposits, continued to increase with a balance of $6.647 billion at March 31, 2012, compared to $6.590 billion at December 31, 2011. Importantly, Old National’s noninterest-bearing demand deposits increased $39.5 million during the 1^st quarter, from $1.729 billion at December 31, 2011, to $1.768 billion at March 31, 2012.

Old National reported net interest income of $74.3 million for 1^st quarter 2012 compared to $76.6 million in 4^th quarter 2011, and $61.4 million for 1^st quarter 2011. Included in 1^st quarter 2012 net interest income is $3.0 million associated with the Monroe acquisition, and $9.6 million associated with the Integra acquisition, related to the purchase accounting marks. Included in 4^th quarter 2011 net interest income is $7.1 million associated with the Monroe acquisition, and $6.3 million associated with the Integra acquisition, related to the purchase accounting marks.

On a fully taxable equivalent basis, net interest income was $77.3 million for 1^st quarter 2012 and represented a net interest margin on total average earning assets of 4.20%. This compares to net interest income on a fully taxable equivalent basis of $79.6 million and a margin of 4.20% in 4^th quarter 2011 and net interest income on a fully taxable equivalent basis of $64.4 million and a margin of 3.62% for 1^st quarter 2011. Included in 1^st quarter 2012 net interest margin is 16 basis points associated with the Monroe acquisition, and 52 basis points associated with the Integra acquisition, related to the purchase accounting marks. Included in 4^th quarter 2011 net interest margin is 37 basis points associated with the Monroe acquisition, and 32 basis points associated with the Integra acquisition, related to the purchase accounting marks. Refer to Tables A and B for Non-GAAP taxable equivalent reconciliations.

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Fees, Service Charges and Other Revenue

Total fees, service charges and other revenue were $48.4 million for 1^st quarter 2012 compared to $46.1 million in 4^th quarter 2011 and $41.3 million in 1^st quarter 2011. The 1^st quarter of 2012 contained $1.2 million in seasonal contingency revenue from the insurance business, compared to none in 4^th quarter 2011 and $1.7 million in 1^st quarter 2011.

Acquisition Update

In a press release dated January 25, 2012, Old National Bancorp announced its intent to acquire Indiana Community Bancorp in an all stock transaction. Under the terms of the merger agreement, which was approved by the boards of both companies, Indiana Community Bancorp shareholders will receive 1.90 shares of Old National Bancorp common stock for each share of Indiana Community Bancorp common stock held by them. As provided in the merger agreement, the exchange ratio is subject to certain adjustments (calculated prior to closing) under circumstances where the consolidated shareholders’ equity of Indiana Community Bancorp is below a specified amount, the loan delinquencies of Indiana Community Bancorp exceed a specified amount or, the credit mark for certain “Special Loans” of Indiana Community Bancorp (as defined in the merger agreement) falls outside a specified range. Based upon current estimates, no adjustments to the 1.90 exchange ratio would be required as a result of the shareholders’ equity or delinquent loan levels. However, the credit mark for the Special Loans as determined under the merger agreement (and as adjusted for net charge-offs on those loans after December 31, 2011), was $36.792 million as of March 31, 2012. If the exchange ratio adjustment was measured as of March 31, 2012, this would have resulted in a reduction in the exchange ratio from 1.90 shares of Old National Bancorp common stock for each share of Indiana Community Bancorp common stock, to 1.8241 shares. It is important to note, however, that the exchange ratio may be adjusted up or down between March 31, 2012, and 10 days before the closing of the merger based on further changes in the credit mark for the certain loans. The transaction is expected to close in the third quarter of 2012, subject to approval by federal and state regulatory authorities and Indiana Community Bancorp’s shareholders and the satisfaction of the closing conditions provided in the merger agreement.

About Old National

Old National Bancorp is the largest financial services holding company headquartered in Indiana and, with $8.6 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, April 30, 2012, to discuss 1^st quarter 2012 financial results, 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 1:00 p.m. Central on April 30 through May 14. To access the replay, dial 1-855-859-2056, conference code 70347875.

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 Investor Relations at oldnational.com.

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Additional Information for Shareholders

In connection with the proposed merger, Old National Bancorp will file with the Securities and Exchange Commission a Registration Statement on Form S-4 that will include a Proxy Statement of Indiana Community Bancorp and a Prospectus of Old National Bancorp, as well as other relevant documents concerning the proposed transaction. Shareholders are urged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. A free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Old National Bancorp and Indiana Community Bancorp, may be obtained at the SEC’s Internet site (http://www.sec.gov). You will also be able to obtain these documents, free of charge, from Old National Bancorp at www.oldnational.com under the tab “Investor Relations” and then under the heading “Financial Information” or from Indiana Community Bancorp by accessing Indiana Community Bancorp’s website at www.myindianabank.com under the tab “Shareholder Relations” and then under the heading “Documents.”

Old National Bancorp and Indiana Community Bancorp and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Indiana Community Bancorp in connection with the proposed merger. Information about the directors and executive officers of Old National Bancorp is set forth in the proxy statement for Old National’s 2012 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on March 14, 2012. Information about the directors and executive officers of Indiana Community Bancorp is set forth in Item 12 of Indiana Community Bancorp’s Form 10-K for its fiscal year ended December 31, 2011, as filed with the SEC on March 15, 2012. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the Proxy Statement/Prospectus regarding the proposed merger when it becomes available. Free copies of this document may be obtained as described in the preceding paragraph.

Table 1: Non-GAAP Reconciliation- 1Q12 Adjusted Earnings Per Share

($ in millions, except per-share data)	Reported 1Q12		Adjustments			Adjusted 1Q12
Total Revenues	$	123.4	$	-0-		$	123.4
Noninterest Expenses		91.3		(.8	)*	$	90.5
Provision Expense		2.1		-0-			2.1
Income Before Income Taxes	$	30.1		.8		$	30.9
Income Taxes	$	8.3		.2		$	8.5
Net Income	$	21.7	$	.6		$	22.3
Common Shares Outstanding (in millions)		94.8		94.8			94.8
Earnings Per Share	$	.23	$	.01		$	.24

* Represents $.8 million of acquisition expenses

Table 2: Non-GAAP Reconciliation- 4Q11 Adjusted Earnings Per Share

($ in millions, except per-share data)	Reported 4Q11		Adjustments			Adjusted 4Q11
Total Revenues	$	125.7	$	-0-		$	125.7
Noninterest Expenses		93.7		(5.2	)*		88.5
Provision Expense		1.0		-0-			1.0
Income Before Income Taxes		31.0		5.2			36.2
Income Taxes		8.8		1.5			10.3
Net Income	$	22.2	$	3.7		$	25.9
Common Shares Outstanding (in millions)		94.9		94.9			94.9
Earnings Per Share	$	.23	$	.04		$	.27

* Represents $5.2 million of acquisition expenses

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Table 3: Non-GAAP Reconciliation-Tangible Equity to Tangible Assets

(end of period balances - $ in millions)	December 31, 2011			March 31, 2012
Total Shareholders’ Equity	$	1,033.6		$	1,050.4
Deduct: Goodwill and Intangible Assets		(286.8	)		(284.8	)
Tangible Shareholders’ Equity	$	746.8		$	765.6
Total Assets	$	8,609.7		$	8,581.1
Add: Trust Overdrafts		.6			.1
Deduct: Goodwill and Intangible Assets		(286.8	)		(284.8	)
Tangible Assets	$	8,323.5		$	8,296.4
Tangible Equity to Tangible Assets		8.97	%		9.23	%

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 and profitability. 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 proposed acquisition of Indiana Community Bancorp), 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, failure to adhere to or 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.

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OLD NATIONAL BANCORP

Financial Highlights (Table A)

	Three-Months Ended
($ in thousands except per-share data) (FTE) Fully taxable equivalent basis.	Mar. 31, 2012			Dec. 31, 2011			Change			% Change
Income Data:
Net Interest Income	$	74,273		$	76,595		$	(2,322	)		(3.0	)%
Taxable Equivalent Adjustment		3,051			2,979			72			2.4
Net Interest Income (FTE)		77,324			79,574			(2,250	)		(2.8	)
Fees, Service Charges and Other Revenues		48,428			46,120			2,308			5.0
Securities Gains (Losses) (a)		523			2,755			(2,232	)		(81.0	)
Derivative Gains (Losses)		182			272			(90	)		(33.1	)
Total Revenue (FTE)		126,457			128,721			(2,264	)		(1.8	)
Provision for Loan Losses		2,056			1,036			1,020			98.5
Noninterest Expense		91,287			93,680			(2,393	)		(2.6	)
Income before Taxes		33,114			34,005			(891	)		(2.6	)
Provision for Taxes (FTE)		11,391			11,791			(400	)		(3.4	)
Net Income		21,723			22,214			(491	)		(2.2	)
Per Common Share Data: (Diluted) (b)
Net Income Attributable to Common Shareholders		.23			.23			-0-			-0-
Average Diluted Shares Outstanding		94,833			94,866			(33	)		-0-
Book Value		11.10			10.92			.18			1.6
Stock Price		13.14			11.65			1.49			12.8
Performance Ratios:
Return on Average Assets		1.02	%		1.01	%		.01	%		1.0
Return on Average Common Equity (c)		8.34			8.64			(.30	)		(3.5	)
Net Interest Margin (FTE)		4.20			4.20			-0-			-0-
Other Expense to Revenue (Efficiency Ratio) (d)		70.88			72.02			(1.14	)		(1.6	)
Net Charge-offs to Average Loans (e)		.33			.79			(.46	)		(58.2	)
Reserve for Loan Losses to Ending Loans (e)		1.33			1.38			(.05	)		(3.6	)
Non-Performing Loans to Ending Loans (e)		2.77			2.82			(.05	)		(1.8	)
Balance Sheet:
Average Assets	$	8,524,398		$	8,759,154		$	(234,756	)		(2.7	)
End of Period Balances:
Assets		8,581,058			8,609,683			(28,625	)		(.3	)
Investments		2,758,366			2,589,517			168,849			6.5
Money Market Investments (f)		16,857			31,246			(14,389	)		(46.1	)
Commercial Loans and Leases		1,276,126			1,341,409			(65,283	)		(4.9	)
Commercial Real Estate Loans		1,317,001			1,393,304			(76,303	)		(5.5	)
Consumer Loans		966,832			990,061			(23,229	)		(2.3	)
Residential Real Estate Loans		1,103,278			1,042,429			60,849			5.8
Residential Real Estate Loans Held for Sale		3,883			4,528			(645	)		(14.2	)
Earning Assets		7,442,343			7,392,494			49,849			.7
Core Deposits (Excluding Brokered CDs)		6,646,520			6,589,813			56,707			.9
Borrowed Funds (Including Brokered CDs)		663,492			737,373			(73,881	)		(10.0	)
Common Shareholders’ Equity		1,050,411			1,033,556			16,855			1.6

(a) Includes $96 and $910, respectively, for other-than-temporary impairment in first quarter 2012 and fourth quarter 2011.

(b) Assumes conversion of stock options, restricted stock and warrants.

(c) Based on average common shareholders’ equity of $1,042,015 and $1,028,564, respectively, for March 31, 2012 and December 31, 2011.

(d) Noninterest expense before amortization of intangibles as a percent of FTE net interest income and noninterest revenues, excluding net gains from securities transactions.

(e) Excludes residential loans held for sale and covered loans.

(f) 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) (FTE) Fully taxable equivalent basis.	March 31, 2012			March 31, 2011			Change			% Change
Income Data:
Net Interest Income	$	74,273		$	61,367		$	12,906			21.0	%
Taxable Equivalent Adjustment		3,051			3,020			31			1.0
Net Interest Income (FTE)		77,324			64,387			12,937			20.1
Fees, Service Charges and Other Revenues		48,428			41,289			7,139			17.3
Securities Gains (Losses) (a)		523			1,200			(677	)		(56.4	)
Derivative Gains (Losses)		182			332			(150	)		(45.2	)
Total Revenue (FTE)		126,457			107,208			19,249			18.0
Provision for Loan Losses		2,056			3,312			(1,256	)		(37.9	)
Noninterest Expense		91,287			79,925			11,362			14.2
Income before Taxes		33,114			23,971			9,143			38.1
Provision for Taxes (FTE)		11,391			7,538			3,853			51.1
Net Income		21,723			16,433			5,290			32.2
Per Common Share Data: (Diluted) (b)
Net Income Attributable to Common Shareholders		.23			.17			.06			35.3
Average Diluted Shares Outstanding		94,833			94,670			163			.2
Book Value		11.10			10.39			.71			6.8
Stock Price		13.14			10.72			2.42			22.6
Performance Ratios:
Return on Average Assets		1.02	%		.82	%		.20	%		24.4
Return on Average Common Equity (c)		8.34			6.78			1.56			23.0
Net Interest Margin (FTE)		4.20			3.62			.58			16.0
Other Expense to Revenue (Efficiency Ratio) (d)		70.88			73.58			(2.70	)		(3.7	)
Net Charge-offs to Average Loans (e)		.33			.27			.06			22.2
Reserve for Loan Losses to Ending Loans (e)		1.33			1.74			(.41	)		(23.6	)
Non-Performing Loans to Ending Loans (e)		2.77			2.90			(.13	)		(4.5	)
Balance Sheet:
Average Assets	$	8,524,398		$	8,038,362		$	486,036			6.0
End of Period Balances:
Assets		8,581,058			8,085,310			495,748			6.1
Investments		2,758,366			2,696,689			61,677			2.3
Money Market Investments (f)		16,857			285,030			(268,173	)		(94.1	)
Commercial Loans and Leases		1,276,126			1,274,312			1,814			.1
Commercial Real Estate Loans		1,317,001			1,218,415			98,586			8.1
Consumer Loans		966,832			918,265			48,567			5.3
Residential Real Estate Loans		1,103,278			779,764			323,514			41.5
Residential Real Estate Loans Held for Sale		3,883			3,144			739			23.5
Earning Assets		7,442,343			7,175,619			266,724			3.7
Core Deposits (Excluding Brokered CDs)		6,646,520			5,986,144			660,376			11.0
Borrowed Funds (Including Brokered CDs)		663,492			887,610			(224,118	)		(25.2	)
Common Shareholders’ Equity		1,050,411			984,015			66,396			6.7

(a) Includes $96 and $299, respectively, for other-than-temporary impairment in first quarter 2012 and first quarter 2011.

(b) Assumes conversion of stock options, restricted stock and warrants.

(c) Based on average common shareholders’ equity of $1,042,015 and $969,465, respectively, for 2012 and 2011.

(d) Noninterest expense before amortization of intangibles as a percent of FTE net interest income and noninterest revenues, excluding net gains from securities transactions.

(e) Excludes residential loans held for sale and covered loans.

(f) 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   First Quarter 2012   April 30, 2012

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

First Quarter 2012

										2011												2012
2009			2010			2011				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr
									Profitability (in millions)
$	13.7		$	38.2		$	72.5		Net Income (Loss)	$	16.4		$	17.0		$	16.8		$	22.2		$	21.7
	3.9			—			—		Preferred Dividend and Amort on Preferred Stock		—			—			—			—			—
	9.8			38.2			72.5		Net Income (Loss) Avail. to Common Shareholders		16.4			17.0			16.8			22.2			21.7
									Diluted EPS
$	0.14		$	0.44		$	0.76		Net Income (Loss) Avail. to Common Shareholders	$	0.17		$	0.18		$	0.18		$	0.23		$	0.23
									Ratios - Net Income
	1.41	%		4.40	%		7.24	%	Return on Average Common Equity		6.78	%		6.87	%		6.61	%		8.64	%		8.34	%
	0.17	%		0.50	%		0.86	%	Return on Average Assets		0.82	%		0.85	%		0.77	%		1.01	%		1.02	%
	80.45	%		79.25	%		73.80	%	Efficiency Ratio (3)		73.58	%		71.92	%		77.56	%		72.02	%		70.88	%
	3.50	%		3.40	%		3.87	%	Net Interest Margin (FTE)		3.62	%		3.67	%		3.96	%		4.20	%		4.20	%
									Capital Ratios:
									Risk-Based Capital Ratios (EOP):
	14.3	%		13.6	%		13.5	%	Tier 1		12.8	%		13.4	%		12.2	%		13.5	%		14.0	%
	16.1	%		14.8	%		15.0	%	Total		14.3	%		14.9	%		13.7	%		15.0	%		15.4	%
	9.5	%		9.0	%		8.3	%	Leverage Ratio (to Average Assets)		8.4	%		8.7	%		7.9	%		8.3	%		8.8	%
	9.06	%		11.46	%		11.94	%	Total Equity to Assets (Averages)		12.06	%		12.35	%		11.65	%		11.74	%		12.22	%
	8.25	%		9.68	%		8.97	%	Tangible Common Equity to Tangible Assets (2)		9.12	%		9.52	%		8.40	%		8.97	%		9.23	%
									Per Common Share Data:
	0.44			0.28			0.28		Cash Dividends Declared (1)		0.07			0.07			0.07			0.07			0.09
	309	%		64	%		37	%	Dividend Payout Ratio (1)		40	%		39	%		39	%		30	%		39	%
	9.68			10.08			10.92		Common Book Value (EOP)		10.39			10.64			10.85			10.92			11.10
	12.43			11.89			11.65		Market Value (EOP)		10.72			10.80			9.32			11.65			13.14
	7.38			7.85			7.89		Tangible Common Book Value (2)		7.53			7.79			7.66			7.89			8.09
									Other Statistics
	2,812			2,491			2,551		Full Time Equivalent Employees (4)		2,618			2,543			2,454			2,551			2,530

FTE—Fully taxable equivalent basis

EOP—End of period actual balances

(1) See Non-GAAP Reconciliation on Page 9.

(2) 1Q12 excludes 0 full time equivalent contract employees for Integra.

(3) Efficiency ratio is defined as noninterest expense before amortization of intangibles as a percent of FTE net interest income and noninterest revenues, excluding net gains from securities transactions. This presentation excludes intangible amortization and net securities gains, as is common in other company releases, and better aligns with true operating performance.

PAGE 1

Old National Bancorp

INCOME STATEMENT

($ In Millions except EPS information)

Three Months				Change							First Quarter				Change
2012		2011		$			%				2012		2011		$			%
$	84.3	$	76.3	$	7.9			10.4	%	Interest Income	$	84.3	$	76.3	$	7.9			10.4	%
	10.0		15.0		(5.0	)		-33.2	%	Less: Interest Expense		10.0		15.0		(5.0	)		-33.2	%
	74.3		61.4		12.9			21.0	%	Net Interest Income		74.3		61.4		12.9			21.0	%
	5.1		5.1		(0.0	)		-0.1	%	Wealth Management Fees		5.1		5.1		(0.0	)		-0.1	%
	12.9		11.6		1.3			11.4	%	Service Charges on Deposit Accounts		12.9		11.6		1.3			11.4	%
	6.3		5.9		0.4			7.5	%	ATM Fees		6.3		5.9		0.4			7.5	%
	0.6		1.0		(0.4	)		-41.3	%	Mortgage Banking Revenue		0.6		1.0		(0.4	)		-41.3	%
	9.6		10.6		(1.0	)		-9.0	%	Insurance Premiums and Commissions		9.6		10.6		(1.0	)		-9.0	%
	2.9		2.6		0.3			13.0	%	Investment Product Fees		2.9		2.6		0.3			13.0	%
	1.5		1.2		0.3			27.6	%	Company-owned Life Insurance		1.5		1.2		0.3			27.6	%
	4.8		—		4.8			N/M		Change in Indemnification Asset		4.8		—		4.8			N/M
	4.8		3.5		1.3			37.9	%	Other Income		4.8		3.5		1.3			38.0	%
	48.4		41.3		7.1			17.3	%	Total Fees, Service Charges & Other Rev.		48.4		41.3		7.1			17.3	%
	0.5		1.2		(0.7	)		-56.4	%	Gains (Losses) Sales of Securities (1)		0.5		1.2		(0.7	)		-56.4	%
	0.2		0.3		(0.2	)		-45.3	%	Gains (Losses) Derivatives		0.2		0.3		(0.2	)		-45.3	%
	49.1		42.8		6.3			14.7	%	Total Noninterest Income		49.1		42.8		6.3			14.7	%
	123.4		104.2		19.2			18.4	%	Total Revenues		123.4		104.2		19.2			18.4	%
	46.0		44.5		1.5			3.4	%	Salaries and Employee Benefits		46.0		44.5		1.5			3.4	%
	12.5		12.3		0.2			1.3	%	Occupancy		12.5		12.3		0.2			1.3	%
	2.9		3.0		(0.1	)		-4.7	%	Equipment		2.9		3.0		(0.1	)		-4.7	%
	1.4		1.3		0.1			9.5	%	Marketing		1.4		1.3		0.1			9.5	%
	5.5		6.1		(0.6	)		-9.8	%	Data Processing		5.5		6.1		(0.6	)		-9.8	%
	2.8		2.3		0.5			21.0	%	Communication		2.8		2.3		0.5			21.0	%
	2.7		2.4		0.3			12.4	%	Professional Fees		2.7		2.4		0.3			12.4	%
	1.6		1.1		0.5			47.9	%	Loan Expenses		1.6		1.1		0.5			47.9	%
	0.8		0.6		0.1			23.6	%	Supplies		0.8		0.6		0.1			23.6	%
	1.4		2.2		(0.8	)		-36.3	%	FDIC Assessment		1.4		2.2		(0.8	)		-36.3	%
	9.8		0.3		9.5			N/M		Other Real Estate Owned Expense		9.8		0.3		9.5			N/M
	3.9		3.7		0.2			4.3	%	Other Expense		3.9		3.7		0.2			4.3	%
	91.3		79.9		11.4			14.2	%	Total Noninterest Expense		91.3		79.9		11.4			14.2	%
	2.1		3.3		(1.3	)		-37.9	%	Provision for loan losses		2.1		3.3		(1.3	)		-37.9	%
	30.1		21.0		9.1			43.5	%	Income (loss) before Income Taxes		30.1		21.0		9.1			43.5	%
	8.3		4.5		3.8			84.6	%	Total Taxes		8.3		4.5		3.8			84.6	%
$	21.7	$	16.4	$	5.3			32.2	%	Net Income (Loss)	$	21.7	$	16.4	$	5.3			32.2	%
										Diluted EPS
$	0.23	$	0.17	$	0.06			31.6	%	Net Income (Loss) Avail to Common	$	0.23	$	0.17	$	0.06			31.6	%
										Average Common Shares Outstanding (000’s)
	94,445		94,433		12			0.0	%	Basic		94,445		94,433		12			0.0	%
	94,833		94,670		162			0.2	%	Diluted		94,833		94,670		162			0.2	%
	94,674		94,734		(60	)		-0.1	%	Common Shares Outstanding (EOP) (000’s)		94,674		94,734		(60	)		-0.1	%

(1) Includes $0.6 million of net gains and $0.1 million of OTTI in 1Q12 and $1.5 million of net gains and $0.3 million of OTTI in 1Q11.

EOP - End of period actual balances                     N/M = Not meaningful                     OTTI - Other Than Temporary Impairment

PAGE 2

Old National Bancorp

NET INCOME TRENDS

First Quarter 2012

($ In Millions except EPS information)

								2011										2012
2009			2010		2011			1st Qtr		2nd Qtr		3rd Qtr			4th Qtr			1st Qtr		2nd Qtr	3rd Qtr	4th Qtr
$	340.7		$	296.8	$	326.6	Interest Income	$	76.3	$	76.9	$	87.2		$	86.2		$	84.3
	109.3			78.4		53.7	Less: Interest Expense		15.0		14.6		14.6			9.6			10.0
	231.4			218.4		272.9	Net Interest Income		61.4		62.3		72.6			76.6			74.3
	16.0			16.1		20.5	Wealth Management Fees		5.1		5.3		5.1			4.9			5.1
	55.2			50.0		51.9	Service Charges on Deposit Accounts		11.6		12.5		14.0			13.8			12.9
	20.5			23.0		25.2	ATM Fees		5.9		6.1		6.8			6.5			6.3
	6.2			2.2		3.3	Mortgage Banking Revenue		1.0		0.9		0.7			0.7			0.6
	37.9			36.5		37.0	Insurance Premiums and Commissions		10.6		9.0		8.3			9.0			9.6
	8.5			9.2		11.1	Investment Product Fees		2.6		2.9		3.0			2.6			2.9
	2.4			4.1		5.3	Company-owned Life Insurance		1.2		1.3		1.4			1.5			1.5
	—			—		0.4	Change in Indemnification Asset		—		—		0.5			(0.1	)		4.8
	13.7			14.4		20.1	Other Income		3.5		4.9		4.5			7.3			4.8
	160.3			155.5		174.6	Total Fees, Service Charges & Other Rev.		41.3		42.9		44.3			46.1			48.4
	2.5			13.2		7.3	Gains (Losses) Sales of Securities (1)		1.2		0.5		2.9			2.8			0.5
	0.7			1.5		1.0	Gains (Losses) Derivatives		0.3		0.2		0.1			0.3			0.2
	163.5			170.1		182.9	Total Noninterest Income		42.8		43.6		47.3			49.1			49.1
	394.9			388.6		455.8	Total Revenues		104.2		105.9		119.9			125.7			123.4
	181.4			170.6		189.5	Salaries and Employee Benefits		44.5		43.1		52.3			49.6			46.0
	47.1			46.4		51.1	Occupancy		12.3		12.2		13.3			13.2			12.5
	10.4			10.6		11.7	Equipment		3.0		2.8		2.9			3.0			2.9
	9.6			5.7		6.0	Marketing		1.3		1.6		1.3			1.8			1.4
	20.7			21.4		23.0	Data Processing		6.1		5.8		5.7			5.4			5.5
	10.9			9.8		10.4	Communication		2.3		2.6		2.5			2.9			2.8
	9.5			8.3		15.0	Professional Fees		2.4		2.1		5.9			4.5			2.7
	4.3			3.9		4.7	Loan Expenses		1.1		1.1		1.1			1.4			1.6
	4.3			2.9		3.8	Supplies		0.6		0.9		0.6			1.6			0.8
	12.4			8.4		7.5	FDIC Assessment		2.2		1.8		1.7			1.9			1.4
	1.5			2.6		2.0	Other Real Estate Owned Expense		0.3		0.8		0.6			0.3			9.8
	26.8			23.6		23.9	Other Expense		3.7		4.9		7.2			8.1			3.9
	339.0			314.3		348.5	Total Noninterest Expense		79.9		79.8		95.2			93.7			91.3
	63.3			30.8		7.5	Provision for Loan Losses		3.3		3.2		(0.1	)		1.0			2.1
	(7.4	)		43.5		99.8	Income (loss) before Income Taxes		21.0		22.9		24.8			31.0			30.1
	(21.1	)		5.3		27.3	Total Taxes		4.5		5.9		8.0			8.8			8.3
$	13.7		$	38.2	$	72.5	Net Income (Loss)	$	16.4	$	17.0	$	16.8		$	22.2		$	21.7
$	0.14		$	0.44	$	0.76	Net Income (Loss) Avail to Common	$	0.17	$	0.18	$	0.18		$	0.23		$	0.23
	71,314			86,785		94,467	Average Basic Common Shares (000’s)		94,433		94,479		94,492			94,463			94,445
	71,367			86,928		94,772	Average Diluted Common Shares (000’s)		94,670		94,701		94,785			94,866			94,833

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

PAGE 3

Old National Bancorp

Balance Sheet (EOP)

First Quarter 2012

($ in Millions)

																Change from Prior Year
	3/31/2012			12/31/2011			9/30/2011			6/30/2011			3/31/2011			3/31/2012			vs.	3/31/2011			12/31/2010			12/31/2009
Assets
Fed Reserve Bank Account	$	13.4		$	26.4		$	68.4		$	193.3		$	273.9		$	(260.5	)			-95.1	%	$	141.4		$	317.5
Money Market Investments		3.4			4.8			6.2			2.5			11.1			(7.7	)			-69.2	%		2.8			35.6
Investments:
Treasury & Gov’t Sponsored Agencies		517.9			416.1			424.8			695.3			713.0			(195.2	)			-27.4	%		680.9			1,142.7
Mortgage-backed Securities		1,372.7			1,352.2			1,533.2			1,306.0			1,208.0			164.7				13.6	%		1,188.3			1,048.4
States & Political Subdivisions		665.2			619.2			607.8			585.3			559.3			105.9				18.9	%		566.3			534.6
Other Securities		202.6			202.0			218.1			206.6			216.4			(13.8	)			-6.4	%		194.8			192.7
Total Investments		2,758.4			2,589.5			2,784.0			2,793.2			2,696.7			61.7				2.3	%		2,630.4			2,918.3
Residential Real Estate Loans Held for Sale		3.9			4.5			4.7			6.1			3.1			0.7				23.5	%		3.8			17.5
Leases Held for Sale		—			—			—			—			—			—				N/M			—			55.3
Loans:
Commercial		1,107.0			1,137.0			1,159.2			1,176.7			1,175.0			(68.0	)			-5.8	%		1,105.3			1,209.3
Commercial Leases		73.5			79.6			87.0			92.9			99.3			(25.8	)			-26.0	%		106.1			77.9
Commercial & Agriculture Real Estate		1,026.9			1,067.4			1,128.4			1,170.4			1,218.4			(191.5	)			-15.7	%		942.4			1,062.9
Consumer:
Home Equity		207.6			216.2			224.2			255.7			259.5			(51.8	)			-20.0	%		248.3			274.8
Other Consumer Loans		639.7			645.2			675.2			626.2			658.8			(19.2	)			-2.9	%		676.6			807.2
Subtotal of Commercial & Consumer Loans		3,054.7			3,145.4			3,274.1			3,321.9			3,411.0			(356.3	)			-10.4	%		3,078.7			3,432.1
Residential Real Estate		1,060.0			995.5			866.0			795.4			779.8			280.2				35.9	%		664.7			403.4
Covered Loans		548.6			626.4			711.3			—			—			548.6				N/M			—			—
Total Loans		4,663.2			4,767.2			4,851.3			4,117.3			4,190.8			472.5				11.3	%		3,743.5			3,835.5
Total Earning Assets		7,442.3			7,392.5			7,714.7			7,112.4			7,175.6			266.7				3.7	%		6,521.8			7,179.7
Allowance for Loan Losses		(55.9	)		(58.1	)		(65.5	)		(70.2	)		(72.7	)		(16.8	)			-23.1	%		(72.3	)		(69.5	)
Nonearning Assets:
Cash and Due from Banks		143.6			191.6			194.6			139.8			127.9			15.6				12.2	%		107.4			144.2
Premises & Equipment		73.1			71.9			75.3			65.9			66.7			6.4				9.5	%		48.8			52.4
Goodwill & Intangible Assets		284.8			286.8			302.3			270.4			271.0			13.7				5.1	%		194.1			200.2
Company-owned Life Insurance		250.2			248.7			247.2			245.8			244.5			5.6				2.3	%		226.2			224.7
FDIC Indemnification Asset		136.9			147.6			168.1			—			—			136.9				N/M			—			—
Covered ORE		24.7			30.4			31.9			—			—			24.7				N/M			—			—
Other Assets		281.4			298.2			264.1			254.6			272.2			9.2				3.4	%		238.0			273.8
Total Nonearning Assets		1,194.6			1,275.2			1,283.5			976.6			982.4			212.2				21.6	%		814.4			895.2
Total Assets	$	8,581.1		$	8,609.7		$	8,932.7		$	8,018.8		$	8,085.3		$	495.7				6.1	%	$	7,263.9		$	8,005.3
Liabilities & Equity
Noninterest-bearing Demand Deposits	$	1,768.0		$	1,728.5		$	1,728.5		$	1,504.6		$	1,421.4		$	346.5				24.4	%	$	1,276.0		$	1,188.3
NOW Accounts		1,558.0			1,569.1			1,517.1			1,333.0			1,448.0			110.0				7.6	%		1,297.4			1,354.3
Savings Accounts		1,672.2			1,570.4			1,624.8			1,304.2			1,192.0			480.1				40.3	%		1,079.4			972.2
Money Market Accounts		295.3			295.8			306.1			315.3			353.9			(58.6	)			-16.6	%		334.8			381.1
Other Time under $100,000		951.0			1,004.0			1,171.6			1,012.9			1,050.8			(99.8	)			-9.5	%		988.7			1,284.3
Other Time $100,000 & over		402.0			421.9			494.6			484.4			519.9			(117.9	)			-22.7	%		466.3			653.3
Total Core Deposits		6,646.5			6,589.8			6,842.8			5,954.4			5,986.1			660.4				11.0	%		5,442.7			5,833.5
Brokered CD’s		21.3			21.7			24.5			60.7			73.8			(52.5	)			-71.2	%		20.2			69.9
Total Deposits		6,667.8			6,611.6			6,867.3			6,015.1			6,059.9			607.8				10.0	%		5,462.9			5,903.5
Short-term Borrowings		352.8			424.8			341.0			305.2			374.3			(21.5	)			-5.7	%		298.2			331.1
Long-term Borrowings		289.5			290.8			443.9			440.5			439.6			(150.1	)			-34.1	%		421.9			699.1
Total Borrowed Funds		642.2			715.6			784.9			745.7			813.8			(171.6	)			-21.1	%		720.1			1,030.2
Accrued Expenses & Other Liabilities		220.6			248.9			252.9			249.8			227.5			(6.9	)			-3.0	%		202.0			227.8
Total Liabilities		7,530.6			7,576.1			7,905.0			7,010.6			7,101.3			429.4				6.0	%		6,385.1			7,161.5
Preferred Stock & Surplus		—			—			—			—			—			—				—			—			—
Common Stock, Surplus & Retained Earnings		1,031.7			1,018.6			1,003.1			991.9			980.5			51.1				5.2	%		880.1			864.2
Other Comprehensive Income		18.7			15.0			24.6			16.4			3.5			15.3				N/M			(1.3	)		(20.4	)
Total Shareholders Equity		1,050.4			1,033.6			1,027.7			1,008.3			984.0			66.4				6.7	%		878.8			843.8
Total Liabilities & Shareholders Equity	$	8,581.1		$	8,609.7		$	8,932.7		$	8,018.8		$	8,085.3		$	495.7				6.1	%	$	7,263.9		$	8,005.3

EOP - End of period actual balances

N/M = Not meaningful

PAGE 4

Old National Bancorp

Balance Sheet Trends

PERIOD AVERAGES

($ in Millions)

2009		2010			2011				2011												2012
									1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr
								Assets
	$41.2	$	152.3		$	146.0		Fed Reserve Bank Account	$	159.8		$	244.4		$	138.2		$	41.5		$	19.7
	38.5		25.4			6.8		Money Market Investments		6.7			7.1			3.9			9.6			5.8
								Investments:
	916.3		1,057.9			613.2		Treasury & Gov’t Sponsored Agencies		746.4			720.9			563.0			422.4			456.6
	1,063.3		1,092.6			1,356.4		Mortgage-backed Securities		1,225.2			1,212.8			1,514.8			1,472.9			1,323.2
	506.7		536.3			580.9		States & Political Subdivisions		561.2			567.8			588.1			606.4			639.6
	214.4		198.7			211.9		Other Securities		214.0			206.9			218.6			207.9			205.8
	2,700.7		2,885.6			2,762.3		Total Investments		2,746.7			2,708.3			2,884.5			2,709.7			2,625.2
	11.7		4.2			3.5		Residential Real Estate Loans Held for Sale		3.6			3.4			3.9			3.1			3.0
	84.9		24.2			—		Leases Held for Sale		—			—			—			—			—
								Loans (includes covered loans):
	1,383.6		1,152.0			1,234.3		Commercial		1,187.3			1,180.7			1,277.0			1,292.1			1,229.2
	216.1		95.3			92.5		Commercial Leases		102.0			95.0			90.1			82.9			76.4
	1,117.3		1,007.6			1,308.4		Commercial & Agriculture Real Estate		1,219.6			1,189.1			1,384.4			1,440.5			1,352.7
								Consumer:
	273.1		264.7			301.5		Home Equity		266.3			257.6			328.0			354.2			337.3
	882.3		742.7			659.5		Other Consumer Loans		674.4			642.0			662.4			659.4			641.2
	3,872.5		3,262.3			3,596.2		Subtotal of Commercial & Consumer Loans		3,449.6			3,364.3			3,741.9			3,829.1			3,636.9
	457.8		460.5			844.2		Residential Real Estate		752.5			789.4			854.2			980.9			1,071.5
	4,330.2		3,722.9			4,440.5		Total Loans		4,202.0			4,153.6			4,596.1			4,810.0			4,708.4
	7,207.2		6,814.6			7,359.1		Total Earning Assets		7,118.9			7,116.9			7,626.7			7,573.9			7,362.1
	(70.1)		(73.9	)		(70.8	)	Allowance for Loan Losses		(73.3	)		(73.8	)		(71.7	)		(64.2	)		(56.6	)
	852.7		845.7			1,096.3		Nonearning Assets		992.8			978.2			1,164.9			1,249.5			1,218.9
	$7,989.8	$	7,586.4		$	8,384.7		Total Assets	$	8,038.4		$	8,021.3		$	8,719.8		$	8,759.2		$	8,524.4
								Liabilities & Equity
	$1,018.4	$	1,182.7		$	1,555.9		Noninterest-bearing Demand Deposits	$	1,395.7		$	1,452.6		$	1,636.5		$	1,739.0		$	1,734.0
	1,250.7		1,221.4			1,472.7		NOW Accounts		1,451.5			1,433.4			1,464.4			1,541.6			1,535.8
	937.6		1,043.3			1,384.3		Savings Accounts		1,159.7			1,252.4			1,513.4			1,611.8			1,612.4
	436.5		361.2			328.6		Money Market Accounts		352.4			336.6			314.7			310.5			292.5
	1,956.9		1,709.2			1,596.8		Other Time		1,616.4			1,530.7			1,711.0			1,529.0			1,392.9
	5,600.2		5,517.7			6,338.3		Total Core Deposits		5,975.6			6,005.7			6,640.0			6,731.9			6,567.6
	97.8		44.4			51.0		Brokered CD’s		79.7			65.1			35.8			23.2			21.5
	5,698.0		5,562.0			6,389.2		Total Deposits		6,055.3			6,070.8			6,675.7			6,755.0			6,589.1
	527.1		328.5			363.6		Short-term Borrowings		370.8			325.5			340.6			417.6			366.1
	812.1		615.0			414.9		Long-term Borrowings		441.5			439.4			461.0			317.6			290.7
	1,339.2		943.5			778.5		Total Borrowed Funds		812.4			764.9			801.7			735.1			656.8
	228.6		211.7			215.7		Accrued Expenses & Other Liabilities		201.2			194.9			226.4			240.4			236.4
	7,265.9		6,717.2			7,383.5		Total Liabilities		7,068.9			7,030.7			7,703.8			7,730.6			7,482.4
	24.1		—			—		Preferred Stock & Surplus		—			—			—			—			—
	735.0		869.6			990.3		Common Stock, Surplus & Retained Earnings		970.8			983.6			998.5			1,008.5			1,022.7
	(35.3)		(0.4	)		10.9		Other Comprehensive Income		(1.3	)		7.1			17.6			20.1			19.4
	723.9		869.2			1,001.2		Total Shareholders Equity		969.5			990.7			1,016.1			1,028.6			1,042.0
	$7,989.8	$	7,586.4		$	8,384.7		Total Liabilities & Shareholders Equity	$	8,038.4		$	8,021.3		$	8,719.8		$	8,759.2		$	8,524.4

PAGE 5

Old National Bancorp

Interest Rate Trends (FTE basis)

PERIOD AVERAGES

										2011												2012
2009			2010			2011				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr
									Earning Assets:
	0.17	%		0.24	%		0.33	%	Fed Funds Sold, Resell Agr, Fed Reserve Bank Acct, & Money Mkt		0.24	%		0.25	%		0.24	%		0.16	%		0.24	%
									Investments:
	4.01	%		3.21	%		2.35	%	Treasury & Gov’t Sponsored Agencies		2.45	%		2.29	%		2.27	%		2.39	%		2.31	%
	4.93	%		3.96	%		2.80	%	Mortgage-backed Securities		3.24	%		3.07	%		2.59	%		2.42	%		2.45	%
	6.72	%		6.19	%		5.88	%	States & Political Subdivisions		6.14	%		5.91	%		5.73	%		5.74	%		5.61	%
	4.93	%		4.68	%		4.23	%	Other Securities		4.36	%		4.42	%		4.39	%		4.01	%		4.20	%
	4.96	%		3.93	%		3.30	%	Total Investments		3.72	%		3.56	%		3.30	%		3.28	%		3.33	%
									Loans:
	4.00	%		4.21	%		4.70	%	Commercial		4.27	%		4.40	%		4.73	%		5.07	%		4.63	%
	6.72	%		6.45	%		6.46	%	Commercial Leases (1)		6.57	%		6.48	%		6.21	%		6.59	%		6.30	%
	4.62	%		4.47	%		6.03	%	Commercial & Agriculture Real Estate		5.12	%		5.88	%		6.67	%		6.12	%		6.92	%
									Consumer:
	3.57	%		3.68	%		3.81	%	Home Equity		3.79	%		3.80	%		3.81	%		3.82	%		3.83	%
	7.27	%		7.15	%		7.10	%	Other Consumer Loans		7.19	%		6.88	%		7.29	%		6.75	%		6.68	%
	5.08	%		4.76	%		5.43	%	Subtotal of Commercial & Consumer Loans		5.22	%		5.46	%		5.91	%		5.72	%		5.87	%
	5.63	%		5.64	%		4.87	%	Residential Real Estate Loans (1)		4.96	%		4.90	%		4.87	%		4.77	%		4.59	%
	5.14	%		5.07	%		5.46	%	Total Loans (1)		5.13	%		5.31	%		5.67	%		5.49	%		5.53	%
	5.02	%		4.55	%		4.60	%	Total Earning Assets		4.47	%		4.47	%		4.67	%		4.65	%		4.73	%
									Interest-bearing Liabilities:
	0.04	%		0.03	%		0.04	%	NOW Accounts		0.06	%		0.04	%		0.03	%		0.03	%		0.03	%
	0.38	%		0.30	%		0.29	%	Savings Accounts		0.30	%		0.28	%		0.29	%		0.27	%		0.25	%
	0.10	%		0.10	%		0.10	%	Money Market Accounts		0.11	%		0.11	%		0.10	%		0.10	%		0.10	%
	3.01	%		2.50	%		1.87	%	Other Time		2.13	%		2.13	%		1.85	%		1.45	%		1.86	%
	1.39	%		1.07	%		0.73	%	Total Interest-bearing Deposits		0.86	%		0.82	%		0.74	%		0.55	%		0.64	%
	4.26	%		4.51	%		1.59	%	Brokered CD’s		1.75	%		2.01	%		0.98	%		0.85	%		0.86	%
	1.45	%		1.11	%		0.74	%	Total Interest-bearing Deposits & CD’s		0.87	%		0.83	%		0.74	%		0.55	%		0.64	%
	0.27	%		0.20	%		0.15	%	Short-term Borrowings		0.16	%		0.14	%		0.15	%		0.15	%		0.14	%
	4.96	%		4.74	%		4.16	%	Long-term Borrowings		4.35	%		4.39	%		4.33	%		3.19	%		2.97	%
	3.11	%		3.16	%		2.29	%	Total Borrowed Funds		2.47	%		2.60	%		2.56	%		1.47	%		1.41	%
	1.82	%		1.47	%		0.96	%	Total Interest-bearing Liabilities		1.11	%		1.08	%		0.99	%		0.66	%		0.73	%
	3.20	%		3.08	%		3.64	%	Net Interest Rate Spread		3.36	%		3.39	%		3.68	%		4.00	%		4.00	%
	3.50	%		3.40	%		3.87	%	Net Interest Margin (FTE)		3.62	%		3.67	%		3.96	%		4.20	%		4.20	%
$	20.8		$	13.5		$	11.8		FTE Adjustment ($ in millions)	$	3.0		$	2.9		$	2.9		$	3.0		$	3.1

FTE - Fully taxable equivalent basis

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

PAGE 6

Old National Bancorp

Asset Quality (EOP) Excludes Covered Assets (4)

($ in Millions)

									2011												2012
2009		2010			2011				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr
	$67.1	$	69.5		$	72.3		Beginning Allowance for Loan Losses	$	72.3		$	72.7		$	70.2		$	65.2		$	57.1
	63.3		30.8			6.5		Provision for Loan Losses		3.3			3.2			(0.1	)		0.1			1.0
	(78.0)		(41.3	)		(34.1	)	Gross Charge-offs		(6.3	)		(8.9	)		(7.5	)		(11.4	)		(6.5	)
	(0.6)		—			—		Write-downs from Loans Sold		—			—			—			—			—
	17.8		13.3			12.4		Gross Recoveries		3.4			3.1			2.6			3.2			3.1
	(60.8)		(28.0	)		(21.7	)	Net Charge-offs		(2.9	)		(5.8	)		(4.9	)		(8.2	)		(3.4	)
	$69.5	$	72.3		$	57.1		Ending Allowance for Loan Losses	$	72.7		$	70.2		$	65.2		$	57.1		$	54.7
	1.40%		0.75	%		0.53	%	Net Charge-offs / Average Loans (1)		0.27	%		0.56	%		0.50	%		0.79	%		0.33	%
	$4,330.2	$	3,722.9		$	4,102.0		Average Loans Outstanding (1)	$	4,202.0		$	4,153.6		$	3,876.8		$	4,141.2		$	4,121.0
	$3,835.5	$	3,743.5		$	4,140.8		EOP Loans Outstanding (1)	$	4,190.8		$	4,117.3		$	4,140.1		$	4,140.8		$	4,114.7
	1.81%		1.93	%		1.38	%	Allowance for Loan Loss / EOP Loans (1)		1.74	%		1.70	%		1.58	%		1.38	%		1.33	%
								Underperforming Assets:
	$3.5	$	0.6		$	1.1		Loans 90 Days & over (still accruing)	$	0.7		$	0.4		$	1.2		$	1.1		$	0.4
								Non-performing Loans:
	67.0		70.9			115.3		Nonaccrual Loans (2)		121.4			118.4			124.8			115.3			113.0
	—		—			1.3		Renegotiated Loans		—			—			—			1.3			1.1
	67.0		70.9			116.7		Total Non-performing Loans		121.4			118.4			124.8			116.7			114.1
	8.1		5.6			7.1		Foreclosed properties		14.1			9.9			9.4			7.1			6.5
	$78.7	$	77.1		$	124.9		Total Underperforming Assets	$	136.3		$	128.8		$	135.3		$	124.9		$	121.0
	$157.1	$	174.3		$	204.1		Classified Loans - “Problem Loans”	$	223.4		$	229.3		$	226.4		$	204.1		$	184.0
	161.2		105.6			106.9		Other Classified Assets		92.5			117.3			113.2			106.9			106.4
	103.5		84.0			80.1		Criticized Loans - “Special Mention Loans”		115.8			105.6			98.5			80.1			77.1
	$421.7	$	363.9		$	391.1		Total Classified & Criticized Assets	$	431.7		$	452.2		$	438.1		$	391.1		$	367.4
	1.75%		1.90	%		2.82	%	Non-performing loans / EOP Loans (1)		2.90	%		2.88	%		3.01	%		2.82	%		2.77	%
	104%		102	%		49	%	Allowance to Non-performing Loans (3)		60	%		59	%		52	%		49	%		48	%
	2.05%		2.06	%		3.02	%	Under-performing Assets / EOP Loans (1)		3.25	%		3.13	%		3.27	%		3.02	%		2.94	%
	$8,005.3	$	7,263.9		$	8,609.7		EOP Total Assets (includes covered assets)	$	8,085.3		$	8,018.8		$	8,932.7		$	8,609.7		$	8,581.1
	0.98%		1.06	%		1.45	%	Under-performing Assets / EOP Assets		1.69	%		1.61	%		1.52	%		1.45	%		1.41	%

EOP - End of period actual balances

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

(2) Includes $14.3 million in 1Q12 of renegotiated loans.

(3) Because the acquired loans from both Monroe and Integra were recorded at fair value in accordance with ASC 805 at the date of acquisition, the credit risk is incorporated in the fair value recorded. No allowance for loan losses is recorded on the acquisition date.

(4) The Company entered into separate loss sharing agreements with the FDIC providing for specified credit loss protection for substantially all acquired single family residential loans, commercial loans, and other real estate owned. At March 31, 2012, approximately $548.6 million of loans and $24.7 million of other real estate owned are covered by the loss sharing agreements. As such, eighty percent of losses incurred on these covered assets will be reimbursed to Old National by the FDIC.

PAGE 7

Old National Bancorp

Asset Quality (EOP) Including Covered Assets (4)

($ in Millions)

										2011												2012
2009			2010			2011				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr
$	67.1		$	69.5		$	72.3		Beginning Allowance for Loan Losses	$	72.3		$	72.7		$	70.2		$	65.5		$	58.1
	63.3			30.8			7.5		Provision for Loan Losses		3.3			3.2			(0.1	)		1.0			2.1
	(78.0	)		(41.3	)		(34.9	)	Gross Charge-offs		(6.3	)		(8.9	)		(7.4	)		(12.3	)		(7.6	)
	(0.6	)		—			—		Write-downs from Loans Sold		—			—			—			—			—
	17.8			13.3			13.2		Gross Recoveries		3.4			3.1			2.9			3.8			3.4
	(60.8	)		(28.0	)		(21.7	)	Net Charge-offs		(2.9	)		(5.8	)		(4.6	)		(8.5	)		(4.2	)
$	69.5		$	72.3		$	58.1		Ending Allowance for Loan Losses	$	72.7		$	70.2		$	65.5		$	58.1		$	55.9
	1.40	%		0.75	%		0.49	%	Net Charge-offs / Average Loans (1)		0.27	%		0.56	%		0.40	%		0.71	%		0.36	%
$	4,330.2		$	3,722.9		$	4,440.5		Average Loans Outstanding (1)	$	4,202.0		$	4,153.6		$	4,596.1		$	4,810.0		$	4,708.4
$	3,835.5		$	3,743.5		$	4,767.2		EOP Loans Outstanding (1)	$	4,190.8		$	4,117.3		$	4,851.3		$	4,767.2		$	4,663.2
	1.81	%		1.93	%		1.22	%	Allowance for Loan Loss /EOP Loans (1)		1.74	%		1.70	%		1.35	%		1.22	%		1.20	%
									Underperforming Assets:
$	3.5		$	0.6		$	3.4		Loans 90 Days & over (still accruing)	$	0.7		$	0.4		$	1.9		$	3.4		$	1.3
									Non-performing Loans:
	67.0			70.9			298.2		Nonaccrual Loans (2)		121.4			118.4			323.8			298.2			271.5
	—			—			1.3		Renegotiated Loans		—			—			—			1.3			1.1
	67.0			70.9			299.5		Total Non-performing Loans		121.4			118.4			323.8			299.5			272.6
	8.1			5.6			37.6		Foreclosed properties		14.1			9.9			41.3			37.6			31.2
$	78.7		$	77.1		$	340.5		Total Underperforming Assets	$	136.3		$	128.8		$	367.0		$	340.5		$	305.0
$	157.1		$	174.3		$	404.3		Classified Loans - “Problem Loans”	$	223.4		$	229.3		$	442.6		$	404.3		$	370.0
	161.2			105.6			106.9		Other Classified Assets		92.5			117.3			113.2			106.9			106.4
	103.5			84.0			103.2		Criticized Loans - “Special Mention Loans”		115.8			105.6			125.4			103.2			97.2
$	421.7		$	363.9		$	614.4		Total Classified & Criticized Assets	$	431.7		$	452.2		$	681.2		$	614.4		$	573.6
	1.75	%		1.90	%		6.28	%	Non-performing loans / EOP Loans (1)		2.90	%		2.88	%		6.67	%		6.28	%		5.85	%
	104	%		102	%		19	%	Allowance to Non-performing Loans (3)		60	%		59	%		20	%		19	%		21	%
	2.05	%		2.06	%		7.14	%	Under-performing Assets /EOP Loans (1)		3.25	%		3.13	%		7.56	%		7.14	%		6.54	%
$	8,005.3		$	7,263.9		$	8,609.7		EOP Total Assets (includes covered assets)	$	8,085.3		$	8,018.8		$	8,932.7		$	8,609.7		$	8,581.1
	0.98	%		1.06	%		3.96	%	Under-performing Assets / EOP Assets		1.69	%		1.61	%		4.11	%		3.96	%		3.55	%

EOP—End of period actual balances

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

(2) Includes $14.3 million in 1Q12 of renegotiated loans.

(3) Because the acquired loans from both Monroe and Integra were recorded at fair value in accordance with ASC 805 at the date of acquisition, the credit risk is incorporated in the fair value recorded. No allowance for loan losses is recorded on the acquisition date.

(4) The Company entered into separate loss sharing agreements with the FDIC providing for specified credit loss protection for substantially all acquired single family residential loans, commercial loans, and other real estate owned. At March 31, 2012, approximately $548.6 million of loans and $24.7 million of other real estate owned are covered by the loss sharing agreements. As such, eighty percent of losses incurred on these covered assets will be reimbursed to Old National by the FDIC.

PAGE 8

Old National Bancorp

NON-GAAP MEASURES

First Quarter 2012

($ In Millions except EPS information)

										2011												2012
2009			2010			2011				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr
									Actual EOP Balances
$	843.8		$	878.8		$	1,033.6		GAAP Shareholders’ Equity	$	984.0		$	1,008.3		$	1,027.7		$	1,033.6		$	1,050.4
									Deduct:
	167.9			167.9			253.2		Goodwill		236.3			236.3			266.0			253.2			253.2
	32.3			26.2			33.6		Intangibles		34.7			34.1			36.3			33.6			31.6
	200.2			194.1			286.8				271.0			270.4			302.3			286.8			284.8
$	643.6		$	684.7		$	746.8		Tangible Shareholders’ Equity	$	713.0		$	737.8		$	725.4		$	746.8		$	765.6
									Deduct:
	—			—			—		Preferred Stock, Surplus & Retained Earnings		—			—			—			—			—
$	643.6		$	684.7		$	746.8		Tangible Common Shareholders’ Equity	$	713.0		$	737.8		$	725.4		$	746.8		$	765.6
									Actual EOP Balances
$	8,005.3		$	7,263.9		$	8,609.7		GAAP Assets	$	8,085.3		$	8,018.8		$	8,932.7		$	8,609.7		$	8,581.1
									Add:
	0.2			0.5			0.6		Trust Overdrafts		0.1			0.4			0.4			0.6			0.1
									Deduct:
	167.9			167.9			253.2		Goodwill		236.3			236.3			266.0			253.2			253.2
	32.3			26.2			33.6		Intangibles		34.7			34.1			36.3			33.6			31.6
	200.2			194.1			286.8				271.0			270.4			302.3			286.8			284.8
$	7,805.4		$	7,070.3		$	8,323.5		Tangible Assets	$	7,814.4		$	7,748.8		$	8,630.8		$	8,323.5		$	8,296.4
	5,173.1			4,720.9			5,163.5		Risk Weighted Assets		5,062.8			4,978.4			5,406.5			5,163.5			5,147.0
									Actual EOP Balances
$	13.7		$	38.2		$	72.5		GAAP Net Income	$	16.4		$	17.0		$	16.8		$	22.2		$	21.7
									Add:
	4.9			4.6			7.0		Intangible Amortization (net of tax)		1.6			1.5			1.7			2.2			1.6
$	18.6		$	42.8		$	79.4		Tangible Net Income	$	18.0		$	18.5		$	18.5		$	24.4		$	23.3
									Tangible Ratios
	2.89	%		6.26	%		10.64	%	Return on Tangible Common Equity		10.10	%		10.05	%		10.20	%		13.08	%		12.19	%
	0.24	%		0.61	%		0.95	%	Return on Tangible Assets		0.92	%		0.96	%		0.86	%		1.17	%		1.13	%
	8.25	%		9.68	%		8.97	%	Tangible Common Equity to Tangible Assets		9.12	%		9.52	%		8.40	%		8.97	%		9.23	%
	12.44	%		14.50	%		14.46	%	Tangible Common Equity to Risk Wgt Assets		14.08	%		14.82	%		13.42	%		14.46	%		14.88	%
	7.38			7.85			7.89		Tangible Common Book Value (1)		7.53			7.79			7.66			7.89			8.09

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.

PAGE 9