Other Borrowings (Tables)

6 Months Ended

Jun. 30, 2018

Other Borrowings

The following table summarizes Old National’s other borrowings at June 30, 2018 and December 31, 2017:

	June 30,			December 31,
(dollars in thousands)	2018			2017
Old National Bancorp:
Senior unsecured notes (fixed rate 4.125%) maturing August 2024	$	175,000		$	175,000
Unamortized debt issuance costs related to senior unsecured notes		(949	)		(1,026	)
Junior subordinated debentures (variable rates of 3.68% to 6.22%) maturing April 2032 to September 2037		60,310			60,310
Other basis adjustments		(3,318	)		(3,585	)
Old National Bank:
Capital lease obligations		5,326			5,389
Subordinated debentures (fixed rate 5.75%)		12,000			12,000
Other		1,872			694
Total other borrowings	$	250,241		$	248,782

Contractual Maturities of Other Borrowings

Contractual maturities of other borrowings at June 30, 2018 were as follows:

(dollars in thousands)
Due in 2018	$	1,286
Due in 2019		137
Due in 2020		147
Due in 2021		160
Due in 2022		172
Thereafter		251,956
Unamortized debt issuance costs and other basis adjustments		(3,617	)
Total	$	250,241

Future Minimum Lease Payments under Capital Lease Arrangements

At June 30, 2018, the future minimum lease payments under the capital lease arrangements were as follows:

(dollars in thousands)
2018	$	284
2019		589
2020		589
2021		589
2022		589
Thereafter		9,275
Total minimum lease payments		11,915
Less amounts representing interest		(6,589	)
Present value of net minimum lease payments	$	5,326

Junior Subordinated Debt [Member]

Other Borrowings

The following table summarizes the terms of our outstanding junior subordinated debentures at June 30, 2018:

(dollars in thousands)					Rate at
		Issuance			June 30,
Name of Trust	Issuance Date	Amount		Rate	2018			Maturity Date
VFSC Capital Trust I	April 2002	$	3,093	3-month LIBOR plus 3.70%		6.22	%	April 22, 2032
VFSC Capital Trust II	October 2002		4,124	3-month LIBOR plus 3.45%		5.79	%	November 7, 2032
VFSC Capital Trust III	April 2004		3,093	3-month LIBOR plus 2.80%		5.12	%	September 8, 2034
St. Joseph Capital Trust II	March 2005		5,000	3-month LIBOR plus 1.75%		4.08	%	March 20, 2035
Anchor Capital Trust III	August 2005		5,000	3-month LIBOR plus 1.55%		3.89	%	September 30, 2035
Tower Capital Trust 2	December 2005		8,000	3-month LIBOR plus 1.34%		3.68	%	December 4, 2035
Home Federal Statutory Trust I	September 2006		15,000	3-month LIBOR plus 1.65%		3.99	%	September 15, 2036
Monroe Bancorp Capital Trust I	July 2006		3,000	3-month LIBOR plus 1.60%		3.95	%	October 7, 2036
Monroe Bancorp Statutory Trust II	March 2007		5,000	3-month LIBOR plus 1.60%		3.94	%	June 15, 2037
Tower Capital Trust 3	December 2006		9,000	3-month LIBOR plus 1.69%		3.99	%	September 15, 2037
Total		$	60,310