NOTE 27 – INTERIM FINANCIAL DATA (UNAUDITED)

The following table details the quarterly results of operations for the years ended December 31, 2017 and 2016.


(unaudited, dollars and shares in thousands, except per share data)	Three Months Ended									Three Months Ended
	12/31/2017			9/30/2017		6/30/2017		3/31/2017		12/31/2016			9/30/2016		6/30/2016		3/31/2016
Interest income	$	135,134		$	123,525	$	118,209	$	118,468	$	121,849		$	119,713	$	110,243	$	95,329
Interest expense		16,578			15,047		13,876		12,667		11,932			11,910		10,903		9,686

Net interest income		118,556			108,478		104,333		105,801		109,917			107,803		99,340		85,643
Provision for loan losses		1,037			311		1,355		347		(1,756	)		1,306		1,319		91
Noninterest income		44,825			46,366		49,271		42,920		62,751			47,243		93,385		49,451
Noninterest expense		140,432			103,702		102,811		101,891		126,258			108,062		121,472		98,355

Income before income taxes		21,912			50,831		49,438		46,483		48,166			45,678		69,934		36,648
Income tax expense		40,405			11,459		10,584		10,491		14,710			10,969		30,812		9,671

Net income (loss)	$	(18,493	)	$	39,372	$	38,854	$	35,992	$	33,456		$	34,709	$	39,122	$	26,977

Net income (loss) per share:
Basic	$	(0.13	)	$	0.30	$	0.28	$	0.27	$	0.25		$	0.25	$	0.31	$	0.24
Diluted		(0.13	)		0.29		0.28		0.27		0.25			0.25		0.31		0.24

Average shares:
Basic		146,073			135,120		135,085		134,912		134,670			134,492		127,508		113,998
Diluted		146,875			135,796		135,697		135,431		135,383			135,011		127,973		114,563

Quarterly results, most notably interest income, noninterest income, and noninterest expense, were impacted by the acquisitions of Anchor (MN) in November 2017 and Anchor (WI) May 2016. In addition, Old National sold its insurance operations, ONI, on May 31, 2016. Income tax expense in the three months ended December 31, 2017 included $39.3 million of additional tax expense to estimate the revaluation of Old National’s deferred tax assets due to the lowering of the federal corporate tax rate to 21%.