Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Financial Instruments

The following tables summarize the fair value of derivative financial instruments utilized by Old National:

	Asset Derivatives
	June 30, 2013			December 31, 2012
(dollars in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other assets	$	4,537	Other assets	$	6,458
Total derivatives designated as hedging instruments		$	4,537		$	6,458
Derivatives not designated as hedging instruments
Interest rate contracts	Other assets	$	20,963	Other assets	$	29,475
Mortgage contracts	Other assets		1,222	Other assets		579
Total derivatives not designated as hedging instruments		$	22,185		$	30,054
Total derivative assets		$	26,722		$	36,512
	Liability Derivatives
	June 30, 2013			December 31, 2012
(dollars in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives not designated as hedging instruments
Interest rate contracts	Other liabilities	$	21,217	Other liabilities	$	29,909
Mortgage contracts	Other liabilities		—	Other liabilities		101
Total derivatives not designated as hedging instruments		$	21,217		$	30,010
Total derivative liabilities		$	21,217		$	30,010

Schedule of Effect of Derivative Instruments on the Consolidated Statements of Income

The effect of derivative instruments on the Consolidated Statement of Income for the three and six months ended June 30, 2013 and 2012 are as follows:

(dollars in thousands)		Three months ended June 30, 2013			Three months ended June 30, 2012
Derivatives in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
Interest rate contracts (1)	Interest income / (expense)	$	467		$	552
Interest rate contracts (2)	Other income / (expense)		(75	)		222
Total		$	392		$	774
Derivatives in Cash Flow Hedging Relationships	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
Interest rate contracts (1)	Interest income / (expense)	$	—		$	—
Total		$	—		$	—
Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
Interest rate contracts (3)	Other income / (expense)	$	218		$	28
Mortgage contracts	Mortgage banking revenue		598			(53	)
Total		$	816		$	(25	)
(dollars in thousands)		Six months ended June 30, 2013			Six months ended June 30, 2012
Derivatives in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
Interest rate contracts (1)	Interest income / (expense)	$	944		$	1,173
Interest rate contracts (2)	Other income / (expense)		(48	)		393
Total		$	896		$	1,566
Derivatives in Cash Flow Hedging Relationships	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
Interest rate contracts (1)	Interest income / (expense)	$	—		$	241
Total		$	—		$	241
Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
Interest rate contracts (3)	Other income / (expense)	$	179		$	38
Mortgage contracts	Mortgage banking revenue		745			94
Total		$	924		$	132

(1) Amounts represent the net interest payments as stated in the contractual agreements.

(2) Amounts represent ineffectiveness on derivatives designated as fair value hedges.

(3) Includes the valuation differences between the customer and offsetting counterparty swaps.