Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

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
	March 31, 2015			December 31, 2014
(dollars in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other assets	$	5,325	Other assets	$	4,278
Total derivatives designated as hedging instruments		$	5,325		$	4,278
Derivatives not designated as hedging instruments
Interest rate contracts	Other assets	$	15,032	Other assets	$	13,780
Mortgage contracts	Other assets		1,611	Other assets		514
Total derivatives not designated as hedging instruments		$	16,643		$	14,294
Total derivative assets		$	21,968		$	18,572
	Liability Derivatives
	March 31, 2015			December 31, 2014
(dollars in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other liabilities	$	15,935	Other liabilities	$	9,951
Total derivatives designated as hedging instruments		$	15,935		$	9,951
Derivatives not designated as hedging instruments
Interest rate contracts	Other liabilities	$	15,169	Other liabilities	$	13,917
Mortgage contracts	Other liabilities		155	Other liabilities		—
Total derivatives not designated as hedging instruments		$	15,324		$	13,917
Total derivative liabilities		$	31,259		$	23,868

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 months ended March 31, 2015 and 2014 are as follows:

		Three Months Ended March 31,
(dollars in thousands)		2015		2014
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)	$	23	$	359
Interest rate contracts (2)	Other income / (expense)		59		106
Total		$	82	$	465
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)	$	—	$	73
Mortgage contracts	Mortgage banking revenue		788		80
Total		$	788	$	153

(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.