Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

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, 2014				December 31, 2013
(dollars in thousands)	Balance Sheet Location		Fair Value		Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments
Interest rate contracts		Other assets	$	3,690		Other assets	$	3,545
Total derivatives designated as hedging instruments			$	3,690			$	3,545
Derivatives not designated as hedging instruments
Interest rate contracts		Other assets	$	16,308		Other assets	$	18,279
Mortgage contracts		Other assets		459		Other assets		263
Total derivatives not designated as hedging instruments			$	16,767			$	18,542
Total derivative assets			$	20,457			$	22,087

	Liability Derivatives
	June 30, 2014			December 31, 2013
	Balance			Balance
	Sheet	Fair		Sheet	Fair
(dollars in thousands)	Location	Value		Location	Value
Derivatives designated as hedging instruments
Interest rate contracts	Other liabilities	$	5,446	Other liabilities	$	1,218
Total derivatives designated as hedging instruments		$	5,446		$	1,218
Derivatives not designated as hedging instruments
Interest rate contracts	Other liabilities	$	16,464	Other liabilities	$	18,505
Mortgage contracts	Other liabilities		75	Other liabilities		—
Total derivatives not designated as hedging instruments		$	16,539		$	18,505
Total derivative liabilities		$	21,985		$	19,723

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, 2014 and 2013 are as follows:

		Three months			Three months
		ended			ended
(dollars in thousands)		June 30, 2014			June 30, 2013
Derivatives in	Location of Gain or (Loss)	Amount of Gain or (Loss)
Fair Value Hedging	Recognized in Income on	Recognized in Income on
Relationships	Derivative	Derivative
Interest rate contracts (1)	Interest income / (expense)	$	339		$	467
Interest rate contracts (2)	Other income / (expense)		75			(75	)
Total		$	414		$	392
	Location of Gain or (Loss)	Amount of Gain or (Loss)
Derivatives Not Designated as	Recognized in Income on	Recognized in Income on
Hedging Instruments	Derivative	Derivative
Interest rate contracts (3)	Other income / (expense)	$	(4	)	$	218
Mortgage contracts	Mortgage banking revenue		42			598
Total		$	38		$	816
		Six months			Six months
		ended			ended
(dollars in thousands)		June 30, 2014			June 30, 2013
Derivatives in	Location of Gain or (Loss)	Amount of Gain or (Loss)
Fair Value Hedging	Recognized in Income on	Recognized in Income on
Relationships	Derivative	Derivative
Interest rate contracts (1)	Interest income / (expense)	$	698		$	944
Interest rate contracts (2)	Other income / (expense)		181			(48	)
Total		$	879		$	896
	Location of Gain or (Loss)	Amount of Gain or (Loss)
Derivatives Not Designated as	Recognized in Income on	Recognized in Income on
Hedging Instruments	Derivative	Derivative
Interest rate contracts (3)	Other income / (expense)	$	69		$	179
Mortgage contracts	Mortgage banking revenue		122			745
Total		$	191		$	924

(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.