8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2008

OLD NATIONAL BANCORP
(Exact name of registrant as specified in its charter)

Indiana	001-15817	35-1539838
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One Main Street Evansville, Indiana	47708
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (812) 464-1294

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On July 28, 2008, Old National Bancorp reported its results for the second quarter and full year of 2008. The press release is included as Exhibit 99.1 hereto and is incorporated herein by reference. Old National Bancorp also released the financial trends including its second-quarter and full-year 2008 results. The financial trends are included as Exhibit 99.2 hereto and are incorporated herein by reference. In connection therewith, a slide presentation outlining second-quarter and full-year 2008 earnings, recent strategic developments and the company’s financial outlook will be available on Old National’s website to compliment the conference call to be held on July 28, 2008, at 10:00 a.m. CST and will be accessible at http://www.oldnational.com before the conference call begins.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits. The following exhibits are furnished herewith:

The following exhibits are furnished herewith and this list constitutes the exhibit index:

99.1 Press Release issued by Old National Bancorp on July 28, 2008

99.2 Financial Trends issued by Old National Bancorp on July 28, 2008

* * * * * * *

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 28, 2008

OLD NATIONAL BANCORP

By: /s/ Christopher A. Wolking
Christopher A. Wolking
Senior Executive Vice President and
Chief Financial Officer

3

EXHIBIT INDEX

Exhibit
No.	Description
99.1 99.2	Press Release issued by Old National Bancorp on July 28, 2008 Financial Trends issued by Old National Bancorp on July 28, 2008

4

EX-99.1

Exhibit: 99.1

NYSE: ONB
www.oldnational.com

FINANCIAL NEWS
July 28, 2008

OLD NATIONAL REPORTS SECOND-QUARTER EARNINGS OF
$19.5 MILLION, OR $.30 PER SHARE

• CONTINUED IMPROVEMENT IN NET INTEREST MARGIN

• DECREASES IN NON-PERFORMING, PROBLEM AND SPECIAL MENTION LOANS

• GROWTH IN COMMERCIAL AND CONSUMER LOANS

• CAPITAL REMAINS STRONG

Contacts:

Financial Community:	Media:
Lynell J. Walton — (812) 464-1366 Vice President — Investor Relations	Kathy A. Schoettlin — (812) 465-7269 Senior Vice President — Communications

Second-Quarter vs. First-Quarter Highlights:

• Earnings per share increase 3.4%

• End-of-period commercial loans increase $85.8 million, or 4.9%

• Net interest margin expands 17 bps to 3.85%

• Special mention and problem loans decline $6.3 million and $3.9 million, respectively

• Non-performing loans decline $2.1 million

Old National Bancorp (NYSE: ONB) today announced second-quarter net income of $19.5 million, or $.30 per share, up $.01 per share from the $.29 per share earned in the first quarter of the year and unchanged from the $.30 per share earned in the second quarter of 2007.

President and CEO Bob Jones commented, “Given the challenges that exist in the economy today and unprecedented challenges that exist in the financial markets, we are particularly pleased with our positive second quarter results. These results demonstrate the sound operating fundamentals and strong capital position of Old National. The expansion of our net interest margin, growth in commercial and consumer loans and declines in nonperforming, special mention and problem loans are a reflection of our focused approach to true community banking.

“The management team and board of directors remain committed to the consistent execution of the Company’s strategy,” continued Jones. “This consistent approach has resulted in five straight quarters of exceeding Wall Street analyst consensus estimates. Given the uncertainty that exists in today’s financial markets, I am pleased that we can once again reaffirm our original earnings guidance for 2008 at $1.13 to $1.19 per share.”

Page 1 of 8

Strategic Imperatives

Old National continues to be guided by three strategic imperatives that are critical in establishing the Company’s presence as a high-performing financial institution:

1. Strengthen the risk profile.
2. Enhance management discipline.
3. Achieve consistent quality earnings.

Strengthen the Risk Profile

Despite the current economic environment, Old National’s credit administration practices continue to yield encouraging results. Following first-quarter increases, largely due to the previously disclosed fraud-related incident in the Company’s Indianapolis market, credit quality metrics were well controlled, as demonstrated by the table below:

($ in millions)	2003			2004			2005			2006			2007			1Q08			2Q08
Non-Performing Loans	$	104.6		$	54.9		$	55.6		$	41.6		$	40.8		$	70.2		$	68.1
Problem Loans	$	343.9		$	192.2		$	136.6		$	153.2		$	115.1		$	153.7		$	149.8
Special Mention Loans	$	215.7		$	148.1		$	83.2		$	119.8		$	103.2		$	103.8		$	97.5
Net Charge-Off Ratio		1.21	%		.61	%		.60	%		.37	%		.44	%		.52	%		1.35	%
Provision for Loan Losses	$	85.0		$	22.4		$	23.1		$	7.0		$	4.1		$	21.9		$	5.7

Impact associated with Indianapolis fraud incident ($ in millions)	1Q08			2Q08
Non-Performing Loans	$	23.0		$	15.9
Problem Loans	$	31.8		$	18.4
Special Mention Loans	$	13.3		$	11.3
Net Charge-Off Ratio*		.26	%		.93	%
Provision for Loan Losses	$	17.0		$	1.5

*Refer to Table 1 for Non-GAAP reconciliation of net charge-off ratios

Old National recorded provision for loan losses of $5.7 million during the second quarter of 2008. This compares favorably to the $21.9 million recorded during the first quarter of the year. Included in the first quarter total was the $17.0 million associated with the misconduct of a former Indianapolis loan officer and subsequent deterioration of the credits.

At June 30, 2008, the reserve for loan losses was $62.1 million, or 1.31% of total loans. This compared to a reserve of $72.2 million, or 1.54% of total loans, and $67.5 million, or 1.39% of total loans, at March 31, 2008, and June 30, 2007, respectively.

Chief Credit Officer Daryl Moore stated, “While we are pleased with our credit quality results at the end of the second quarter, we are also mindful of the unprecedented challenges that exist in the banking environment today and continue to work hard at promptly identifying and managing through issues as they arise in the portfolio. We remain focused on ensuring the consistent application of our underwriting standards, as we anticipate that challenges in the area of credit will continue to develop.”

Page 2 of 8

Enhance Management Discipline

Capital Management

Old National did not repurchase shares of common stock through the open market during the first six months of 2008. In December 2005, the board approved the repurchase of up to 6.0 million shares of stock over a three-year period ending December 31, 2008. As of June 30, 2008, the Company has 4.3 million shares available to repurchase during 2008, the final year covered under this three-year authorization.

Old National continues to strengthen its capital position, as average equity as a percentage of average assets increased to 8.86% from 8.75% at March 31, 2008. Tangible common equity as a percentage of tangible assets increased to 6.75% from 6.56% at March 31, 2008. Refer to Table 2 for Non-GAAP reconciliation of the tangible capital ratios.

Chief Financial Officer Chris Wolking noted, “Old National continues to maintain a strong capital position, and the current credit cycle and economic environment reinforces the importance of capital. We are pleased that our consistent focus on a strong capital management benefits us in these challenging times. Our capital ratios are a reflection of both our balance sheet strength and our disciplined approach to capital management. It is this strong capital position that has allowed us to provide cash dividend increases to our shareholders for the past 26 years and once again declare a $.23 per share cash quarterly dividend just last week.”

Expense Management

For the second quarter of 2008, noninterest expenses were $74.8 million compared to $70.9 million and $68.4 million reported for the first quarter of 2008 and the second quarter of 2007, respectively. Increases from prior periods are primarily attributable to salaries and employee benefits as well as occupancy expenses. Rent expense, primarily relating to the sale leaseback transactions, amounted to $6.4 million for the second quarter of 2008, compared to $6.2 million and $2.6 million for the first quarter of 2008 and the second quarter of 2007, respectively.

Achieve Consistent Quality Earnings

Balance Sheet & Margin

Total commercial loans and leases increased $85.8 million, or 4.9%, from $1.740 billion at March 31, 2008, to $1.826 billion at June 30, 2008. Total consumer loans also increased from $1.177 billion at March 31, 2008, to $1.188 billion at June 30, 2008. The Company’s disciplined approach to the commercial real estate sector continues to drive down outstandings in that portfolio with a $38.8 million decline from March 31, 2008, levels.

At June 30, 2008, total investments were $2.039 billion, down $180.8 million from March 31, 2008. This change was primarily attributable to $99.6 million in securities that were called by the issuers and $96.9 million that were sold during the quarter, resulting in gains of $1.1 million and $1.0 million, respectively. The investment portfolio declined to 26.8% of total assets at June 30, 2008, compared to 28.7% at March 31, 2008.

Page 3 of 8

Total core deposits, including demand and interest-bearing deposits, totaled $5.227 billion at June 30, 2008, up $10.3 million from the $5.216 billion at March 31, 2008. Total borrowed funds at June 30, 2008, were $1.359 billion, a $116.7 million decrease from the $1.475 billion at March 31, 2008.

During the second quarter of 2008, net interest income on a fully tax equivalent basis was $65.9 million and represented a net interest margin on total average earning assets of 3.85%. This compared favorably to net interest income of $64.2 million and a margin of 3.68% for the first quarter of 2008 and net interest income of $58.6 million and a margin of 3.20% for the second quarter of 2007.

“We were pleased with the expansion of net interest margin,” stated Chief Financial Officer Chris Wolking. “We maintained our disciplined approach to deposit pricing in the second quarter and at the same time saw growth in key deposit categories. We remain committed to this approach, particularly given the recent actions by the Federal Reserve to halt rate cuts.”

Fees, Service Charges and Other Revenue

Total fees, service charges and other revenue were $41.8 million for the second quarter of 2008, compared to $43.0 million for the first quarter of 2008 and $39.0 million in the second quarter of 2007. The first quarter of 2008 contained $2.4 million in seasonal contingency revenue from the insurance business. Also included in the first quarter of 2008 was a $1.5 million gain related to the redemption of Class B VISA shares. The second quarter of 2008 contained an increase of $1.1 million in service charges on deposit accounts.

About Old National

Old National Bancorp is the largest financial services holding company headquartered in Indiana and, with $7.6 billion in assets, ranks among the top 100 banking companies in the United States. Since its founding in Evansville in 1834, Old National has focused on community banking by building long-term, highly valued partnerships with clients in its primary footprint of Indiana, Illinois and Kentucky. In addition to providing extensive services in retail and commercial banking, wealth management, investments and brokerage, Old National also owns one of the largest independent insurance agencies headquartered in Indiana, offering complete personal and commercial insurance solutions. For more information and financial data, please visit the Company’s website at www.oldnational.com.

Conference Call

Old National will hold a conference call at 10:00 a.m. Central on Monday, July 28, 2008, to discuss second-quarter 2008 financial results, strategic developments, and the Company’s earnings outlook for 2008. The live audio web cast of the call, along with the corresponding presentation slides, will be available on the Company’s Investor Relations web page at www.oldnational.com and will be archived there for 12 months. A replay of the call will also be available from 1:00 p.m. Central on July 28 through August 11. To access the replay, dial 1-800-642-1687, conference code 32127175.

Page 4 of 8

Forward-Looking Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends and profitability. Forward-looking statements can be identified by the use of the words “anticipate,” “believe,” “expect,” “intend,” “could” and “should,” and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties and there are a number of factors that could cause actual results to differ materially from those in such statements. Factors that might cause such a difference include, but are not limited to, market, economic, operational, liquidity, credit and interest rate risks associated with Old National’s business, competition, government legislation and policies, ability of Old National to execute its business plan and to remediate the credit issues identified in this release, changes in the economy which could materially impact credit quality trends and the ability to generate loans and gather deposits, failure or circumvention of our internal controls, failure or disruption of our information systems, significant changes in accounting, tax or regulatory practices or requirements, other matters discussed in this press release and other factors identified in the Company’s Annual Report on Form 10-K and other periodic filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this press release, and Old National undertakes no obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this release.

Table 1: Non-GAAP Reconciliation-Net Charge-Offs

($ in millions)	June 30, 2008			March 31, 2008
Net Charge-Offs ($) Associated with Indianapolis Fraud Incident	$	10.9		$	3.0
Average Loans Outstanding	$	4,709.3		$	4,684.9
Net Charge-Offs (%) Associated with Indianapolis Fraud Incident		.93	%		.26	%

Table 2: Non-GAAP Reconciliation-Tangible Common Equity

(end of period balances - $ in millions)	June 30, 2008			March 31, 2008
Total Shareholders’ Equity	$	649.0		$	675.4
Deduct: Goodwill and Intangible Assets		(188.7	)		(190.3	)
Tangible Shareholders’ Equity	$	460.3		$	485.1
Deduct: Other Comprehensive Income		(40.2	)		(8.9	)
Tangible Common Shareholders’ Equity	$	500.5		$	494.0
Total Assets	$	7,601.8		$	7,723.5
Add: Trust Overdrafts		.1			.1
Deduct: Goodwill and Intangible Assets		(188.7	)		(190.3	)
Tangible Assets	$	7,413.1		$	7,533.2
Tangible Equity to Tangible Assets		6.21	%		6.44	%
Tangible Common Equity to Tangible Assets		6.75	%		6.56	%

Page 5 of 8

OLD NATIONAL BANCORP
Financial Highlights

	Three-Months Ended
($ in thousands except per-share data)	June 30
(FTE) Fully taxable equivalent basis.	2008			2007			Change			% Change
Income Data:
Net Interest Income (FTE)	$	65,945		$	58,593		$	7,352			12.5
Fees, Service Charges and Other Revenues		41,809			38,969			2,840			7.3
Securities Gains (Losses)		2,061			(24	)		2,085			N/M
Derivative Gains (Losses)		(357	)		(206	)		(151	)		N/M
Total Revenue (FTE)		109,458			97,332			12,126			12.5
Provision for Loan Losses		5,700			-0-			5,700			N/M
Noninterest Expense		74,834			68,434			6,400			9.4
Income before Taxes		28,924			28,898			26			.01
Provision for Taxes (FTE)		9,449			9,347			102			1.1
Net Income		19,475			19,551			(76	)		(.4	)
Per Share Data: (Diluted) (a)
Net Income		.30			.30			-0-			-0-
Average Diluted Shares Outstanding		65,812			65,804			8			-0-
Book Value		9.80			9.45			.35			3.7
Stock Price		14.26			16.61			(2.35	)		(14.1	)
Performance Ratios:
Return on Average Assets		1.03	%		.96	%		.07	%		7.3
Return on Average Equity (b)		11.58			12.30			(.72	)		(5.9	)
Net Interest Margin (FTE)		3.85			3.20			.65			20.3
Other Expense to Revenue (Efficiency Ratio)		68.37			70.31			(1.94	)		(2.8	)
Net Charge-offs to Average Loans (c)		1.35			.31			1.04			N/M
Reserve for Loan Losses to Ending Loans		1.31			1.39			(.08	)		(5.8	)
Non-Performing Loans to Ending Loans (c)		1.43			1.20			.23			19.2
Balance Sheet:
Average Assets	$	7,593,955		$	8,119,015		$	(525,060	)		(6.5	)
End of Period Balances:
Assets		7,601,786			7,987,742			(385,956	)		(4.8	)
Investments (Including Money Market Investments)		2,038,799			2,283,427			(244,628	)		(10.7	)
Commercial Loans		1,826,091			1,717,162			108,929			6.3
Commercial Real Estate Loans		1,196,511			1,379,391			(182,880	)		(13.3	)
Consumer Loans		1,188,130			1,211,694			(23,564	)		(1.9	)
Residential Real Estate Loans		516,010			545,275			(29,265	)		(5.4	)
Residential Real Estate Loans Held for Sale		16,620			19,599			(2,979	)		(15.2	)
Earning Assets		6,782,161			7,156,548			(374,387	)		(5.2	)
Core Deposits (Excluding Brokered CDs)		5,226,487			5,901,153			(674,666	)		(11.4	)
Borrowed Funds (Including Brokered CDs)		1,504,606			1,345,938			158,668			11.8
Shareholders’ Equity		649,015			625,582			23,433			3.7

(a)	Assumes conversion of stock options and restricted stock.
(b)	Based on average shareholders’ equity of $672,852 and $635,814, respectively, for June 30, 2008, and 2007.
(c)	Includes residential loans held for sale.
N/M	Not meaningful.

Page 6 of 8

OLD NATIONAL BANCORP
Financial Highlights

	Three-Months Ended
($ in thousands except per-share data)	June 30,			March 31,
(FTE) Fully taxable equivalent basis.	2008			2008			Change			% Change
Income Data:
Net Interest Income (FTE)	$	65,945		$	64,186		$	1,759			2.7
Fees, Service Charges and Other Revenues		41,809			42,973			(1,164	)		(2.7	)
Securities Gains (Losses)		2,061			4,519			(2,458	)		(54.4	)
Derivative Gains (Losses)		(357	)		(616	)		259			N/M
Total Revenue (FTE)		109,458			111,062			(1,604	)		(1.4	)
Provision for Loan Losses		5,700			21,905			(16,205	)		(74.0	)
Noninterest Expense		74,834			70,936			3,898			5.5
Income before Taxes		28,924			18,221			10,703			58.7
Provision for Taxes (FTE)		9,449			(1,119	)		10,568			N/M
Net Income		19,475			19,340			135			.7
Per Share Data: (Diluted) (a)
Net Income		.30			.29			.01			3.4
Average Diluted Shares Outstanding		65,812			65,754			58			.1
Book Value		9.80			10.20			(.40	)		(3.9	)
Stock Price		14.26			18.00			(3.74	)		(20.8	)
Performance Ratios:
Return on Average Assets		1.03	%		1.01	%		.02	%		2.0
Return on Average Equity (b)		11.58			11.51			.07			.6
Net Interest Margin (FTE)		3.85			3.68			.17			4.6
Other Expense to Revenue (Efficiency Ratio)		68.37			63.87			4.50			7.0
Net Charge-offs to Average Loans (c)		1.35			.52			.83			N/M
Reserve for Loan Losses to Ending Loans		1.31			1.54			(.23	)		(14.9	)
Non-Performing Loans to Ending Loans (c)		1.43			1.50			(.07	)		(4.7	)
Balance Sheet:
Average Assets	$	7,593,955		$	7,682,000		$	(88,045	)		(1.1	)
End of Period Balances:
Assets		7,601,786			7,723,466			(121,680	)		(1.6	)
Investments (Including Money Market Investments)		2,038,799			2,219,628			(180,829	)		(8.1	)
Commercial Loans		1,826,091			1,740,278			85,813			4.9
Commercial Real Estate Loans		1,196,511			1,235,302			(38,791	)		(3.1	)
Consumer Loans		1,188,130			1,176,708			11,422			1.0
Residential Real Estate Loans		516,010			528,534			(12,524	)		(2.4	)
Residential Real Estate Loans Held for Sale		16,620			10,155			6,465			63.7
Earning Assets		6,782,161			6,910,605			(128,444	)		(1.9	)
Core Deposits (Excluding Brokered CDs)		5,226,487			5,216,228			10,259			.2
Borrowed Funds (Including Brokered CDs)		1,504,606			1,605,648			(101,042	)		(6.3	)
Shareholders’ Equity		649,015			675,393			(26,378	)		(3.9	)

(a)	Assumes conversion of stock options and restricted stock.
(b)	Based on average shareholders’ equity of $672,852 and $672,288, respectively, for June 30, 2008, and March 31, 2008.
(c)	Includes residential loans held for sale.
N/M	Not meaningful.

Page 7 of 8

OLD NATIONAL BANCORP
Financial Highlights

	Six-Months Ended
($ in thousands except per-share data)	June 30
(FTE) Fully taxable equivalent basis.	2008			2007			Change			% Change
Income Data:
Net Interest Income (FTE)	$	130,131		$	114,624		$	15,507			13.5
Fees, Service Charges and Other Revenues		84,782			76,379			8,403			11.0
Securities Gains (Losses)		6,580			(2,691	)		9,271			N/M
Derivative Gains (Losses)		(973	)		(192	)		(781	)		N/M
Total Revenue (FTE)		220,520			188,120			32,400			17.2
Provision for Loan Losses		27,605			2,445			25,160			N/M
Noninterest Expense		145,770			141,467			4,303			3.0
Income before Taxes		47,145			44,208			2,937			6.6
Provision for Taxes (FTE)		8,330			13,867			(5,537	)		(39.9	)
Net Income		38,815			30,341			8,474			27.9
Per Share Data: (Diluted) (a)
Net Income		.59			.46			.13			28.3
Average Diluted Shares Outstanding		65,784			65,836			(52	)		(.1	)
Book Value		9.80			9.45			.35			3.7
Stock Price		14.26			16.61			(2.35	)		(14.1	)
Performance Ratios:
Return on Average Assets		1.02	%		.74	%		.28	%		37.8
Return on Average Equity (b)		11.54			9.51			2.03			21.3
Net Interest Margin (FTE)		3.76			3.10			.66			21.3
Other Expense to Revenue (Efficiency Ratio)		66.10			75.20			(9.10	)		(12.1	)
Net Charge-offs to Average Loans (c)		.94			.35			.59			N/M
Reserve for Loan Losses to Ending Loans		1.31			1.39			(.08	)		(5.8	)
Non-Performing Loans to Ending Loans (c)		1.43			1.20			.23			19.2
Balance Sheet:
Average Assets	$	7,637,977		$	8,180,185		$	(542,208	)		(6.6	)
End of Period Balances:
Assets		7,601,786			7,987,742			(385,956	)		(4.8	)
Investments (Including Money Market Investments)		2,038,799			2,283,427			(244,628	)		(10.7	)
Commercial Loans		1,826,091			1,717,162			108,929			6.3
Commercial Real Estate Loans		1,196,511			1,379,391			(182,880	)		(13.3	)
Consumer Loans		1,188,130			1,211,694			(23,564	)		(1.9	)
Residential Real Estate Loans		516,010			545,275			(29,265	)		(5.4	)
Residential Real Estate Loans Held for Sale		16,620			19,599			(2,979	)		(15.2	)
Earning Assets		6,782,161			7,156,548			(374,387	)		(5.2	)
Core Deposits (Excluding Brokered CDs)		5,226,487			5,901,153			(674,666	)		(11.4	)
Borrowed Funds (Including Brokered CDs)		1,504,606			1,345,938			158,668			11.8
Shareholders’ Equity		649,015			625,582			23,433			3.7

(a)	Assumes conversion of stock options and restricted stock.
(b)	Based on average shareholders’ equity of $672,570 and $637,891, respectively, for 2008 and 2007.
(c)	Includes residential loans held for sale.
N/M	Not meaningful.

Page 8 of 8

EX-99.2

Exhibit: 99.2

Old National Bancorp

Financial Trends
Second Quarter 2008
July 28, 2008

Please direct inquiries to:

Christopher A. Wolking, Senior Executive Vice President & Chief Financial Officer (812) 464-1322 or Joan M. Kissel, Senior Vice President & Corporate Controller (812) 465-7290

Notes: -All share and per share data have been adjusted for stock dividends.

-Summations may not equal due to rounding.

-In connection with certain derivative transactions related to interest rate swap agreements, the Company restated the year ended December 31, 2004. For additional information regarding this restatement, see Form 8-K filed on January 31, 2006.

Old National Bancorp

Financial Summary
Second Quarter 2008

													2007												2008
2004			2005			2006			2007			Profitability (in millions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
$	63.1		$	63.8		$	79.4		$	74.9		NET INCOME	$	10.8		$	19.6		$	22.6		$	22.0		$	19.3		$	19.5
	2.8			(14.8	)		—			—		INCOME from Discontinued Operations (net of tax)		—			—			—			—			—			—
	60.3			78.6			79.4			74.9		INCOME from Continuing Operations (net of tax)		10.8			19.6			22.6			22.0			19.3			19.5
												Diluted EPS
$	0.90		$	0.93		$	1.20		$	1.14		Net Income	$	0.16		$	0.30		$	0.34		$	0.34		$	0.29		$	0.30
	0.04			(0.22	)		—			—		Income from Discontinued Operations		—			—			—			—			—			—
	0.86			1.15			1.20			1.14		Income from Continuing Operations		0.16			0.30			0.34			0.34			0.29			0.30
												Ratios — Net Income
	8.83	%		9.31	%		12.43	%		11.67	%	Return on Average Common Equity		6.74	%		12.30	%		14.22	%		13.39	%		11.51	%		11.58	%
	0.69	%		0.74	%		0.97	%		0.94	%	Return on Average Assets		0.52	%		0.96	%		1.15	%		1.14	%		1.01	%		1.03	%
												Ratios — Income from Continuing Operations
	8.44	%		11.47	%		12.43	%		11.67	%	Return on Average Common Equity		6.74	%		12.30	%		14.22	%		13.39	%		11.51	%		11.58	%
	0.66	%		0.91	%		0.97	%		0.94	%	Return on Average Assets		0.52	%		0.96	%		1.15	%		1.14	%		1.01	%		1.03	%
	73.92	%		65.58	%		68.54	%		71.01	%	Efficiency Ratio		80.44	%		70.31	%		67.46	%		66.84	%		63.87	%		68.37	%
	3.08	%		3.09	%		3.15	%		3.28	%	Net Interest Margin (FTE)		3.00	%		3.20	%		3.37	%		3.56	%		3.68	%		3.85	%
												Capital Ratios:
												Risk-Based Capital Ratios (EOP):
	11.2	%		10.6	%		11.1	%		10.6	%	Tier 1		9.8	%		10.1	%		10.5	%		10.6	%		11.0	%		11.2	%
	14.9	%		14.4	%		14.5	%		13.3	%	Total		13.1	%		13.4	%		13.9	%		13.3	%		13.8	%		14.1	%
	7.7	%		7.7	%		8.0	%		7.7	%	Leverage Ratio (to Average Assets)		7.1	%		7.3	%		7.7	%		7.7	%		8.0	%		8.2	%
	7.83	%		7.94	%		7.81	%		8.04	%	Total Equity to Assets (Averages)		7.77	%		7.83	%		8.08	%		8.51	%		8.75	%		8.86	%
												Per Common Share Data:
	0.72			0.76			0.84			1.11		Cash Dividends Declared (1)		0.22			0.22			0.22			0.45			—			0.23
	80	%		81	%		70	%		97	%	Dividend Payout Ratio (1)		134	%		74	%		64	%		134	%		—			77	%
	10.16			9.61			9.66			9.86		Book Value (EOP)		9.65			9.45			9.78			9.86			10.20			9.80
	24.63			21.64			18.92			14.96		Market Value (EOP)		18.18			16.61			16.57			14.96			18.00			14.26
												Other Statistics
	2,565			2,572			2,568			2,494		Full Time Equivalent Employees (2)		2,572			2,535			2,481			2,494			2,478			2,499

FTE — Fully taxable equivalent basis
EOP — End of period actual balances
(1)	The 1st Qtr 2008 dividend was declared in December 2007 and is included in the 2007 totals.
(2)	Based on the number of employees associated with continuing operations.

PAGE 1

Old National Bancorp

INCOME STATEMENT
($ In Millions except EPS information)

Six Months						Change							Second Quarter						Change
2008			2007			$			%				2008			2007			$			%
$	210.5		$	242.7		$	(32.2	)		-13.3	%	Interest Income (FTE)	$	102.0		$	122.2		$	(20.2	)		-16.5	%
	80.4			128.1			(47.7	)		-37.3	%	Less: Interest Expense		36.0			63.6			(27.6	)		-43.3	%
	130.1			114.6			15.5			13.5	%	Net Interest Income (FTE)		65.9			58.6			7.4			12.5	%
	9.5			9.7			(0.2	)		-2.4	%	Wealth Management Fees		4.9			4.8			0.1			1.9	%
	21.5			21.5			0.1			0.2	%	Service Charges on Deposit Accounts		11.3			11.2			0.0			0.4	%
	8.5			6.7			1.8			26.6	%	ATM Fees		4.5			3.5			0.9			26.3	%
	2.6			2.1			0.5			24.6	%	Mortgage Banking Revenue		1.4			1.1			0.2			20.9	%
	21.4			20.8			0.6			2.8	%	Insurance Premiums and Commissions		9.3			10.2			(0.9	)		-8.4	%
	5.1			5.6			(0.5	)		-8.6	%	Investment Product Fees		2.4			2.8			(0.3	)		-12.6	%
	5.5			4.8			0.7			15.7	%	Company-owned Life Insurance		2.8			2.4			0.4			15.3	%
	10.7			5.2			5.4			104.2	%	Other Income		5.2			2.9			2.3			77.8	%
	84.8			76.4			8.4			11.0	%	Total Fees, Service Charges & Other Rev.		41.7			39.0			2.8			7.1	%
	6.6			(2.7	)		9.3			N/M		Gains (Losses) Sales of Securities		2.1			(0.0	)		2.1			N/M
	(1.0	)		(0.2	)		(0.8	)		N/M		Gains (Losses) Derivatives		(0.3	)		(0.2	)		(0.1	)		N/M
	90.4			73.5			16.9			23.0	%	Total Noninterest Income		43.5			38.7			4.8			12.3	%
	220.5			188.1			32.4			17.2	%	Total Revenues (FTE)		109.5			97.3			12.1			12.5	%
	85.5			82.9			2.6			3.1	%	Salaries and Employee Benefits		43.2			41.5			1.6			3.9	%
	19.2			11.9			7.3			61.5	%	Occupancy		9.6			5.5			4.0			72.7	%
	5.1			5.9			(0.8	)		-14.1	%	Equipment		2.5			2.8			(0.3	)		-12.1	%
	4.7			4.6			0.1			3.1	%	Marketing		2.7			2.2			0.4			20.3	%
	9.6			9.9			(0.3	)		-3.3	%	Data Processing		4.9			4.8			0.1			2.1	%
	4.5			4.7			(0.2	)		-4.4	%	Communication		2.2			2.3			(0.1	)		-5.9	%
	3.5			3.8			(0.3	)		-6.8	%	Professional Fees		1.9			1.9			0.0			2.1	%
	3.0			3.0			(0.0	)		-1.6	%	Loan Expenses		1.7			1.9			(0.1	)		-6.1	%
	1.6			1.8			(0.2	)		-8.7	%	Supplies		0.7			0.8			(0.0	)		-1.6	%
	9.1			13.0			(3.9	)		-30.2	%	Other Expense		5.4			4.7			0.8			16.4	%
	145.8			141.5			4.3			3.0	%	Total Noninterest Expense		74.8			68.4			6.4			9.4	%
	27.6			2.4			25.2			NM		Provision for loan losses		5.7			—			5.7			N/M
	47.1			44.2			2.9			6.6	%	Income before Income Taxes and Discontinued Operations (FTE)		28.9			28.9			0.0			0.1	%
	(0.7	)		5.4			(6.1	)		-112.4	%	Income Taxes on Continuing Ops.		4.8			5.1			(0.2	)		-4.9	%
	9.0			8.5			0.5			6.1	%	FTE Adjustment		4.6			4.3			0.3			8.2	%
	8.3			13.9			(5.5	)		-39.9	%	Total Taxes (FTE)		9.4			9.3			0.1			1.1	%
$	38.8		$	30.3		$	8.5			27.9	%	Net Income	$	19.5		$	19.6		$	(0.1	)		-0.4	%
												EPS
$	0.59		$	0.46		$	0.13			28.0	%	Diluted Net Income	$	0.30		$	0.30		$	(0.00	)		-0.3	%
												Average Common Shares Outstanding (000’s)
	65,631			65,764			(133	)		-0.2	%	Basic		65,640			65,723			(83	)		-0.1	%
	65,784			65,836			(52	)		-0.1	%	Diluted		65,812			65,804			8			0.0	%
	66,206			66,194			12			0.0	%	Common Shares Outstanding (EOP) (000’s)		66,206			66,194			12			0.0	%

FTE — Fully taxable equivalent basis

EOP — End of period actual balances

N/M = Not meaningful

PAGE 2

Old National Bancorp

NET INCOME TRENDS
Second Quarter 2008
($ In Millions except EPS information)

											2007											2008
2004		2005			2006		2007				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr		1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
$	441.0	$	446.8		$	471.2	$	478.5		Interest Income (FTE)	$	120.5		$	122.2		$	120.3		$	115.6	$	108.5		$	102.0
	185.4		206.1			239.0		242.2		Less: Interest Expense		64.5			63.6			60.7			53.4		44.3			36.0
	255.7		240.7			232.2		236.4		Net Interest Income (FTE)		56.0			58.6			59.5			62.2		64.2			65.9
	20.4		20.3			19.5		18.7		Wealth Management Fees		4.9			4.8			4.6			4.4		4.6			4.9
	48.5		47.2			42.3		44.8		Service Charges on Deposit Accounts		10.2			11.2			11.5			11.8		10.2			11.3
	9.5		11.1			12.1		14.5		ATM Fees		3.2			3.5			3.8			4.0		4.0			4.5
	8.5		4.9			4.1		4.4		Mortgage Banking Revenue		1.0			1.1			1.2			1.1		1.2			1.4
	32.8		35.2			41.5		39.0		Insurance Premiums and Commissions		10.6			10.2			8.9			9.3		12.1			9.3
	12.0		9.0			8.7		10.7		Investment Product Fees		2.9			2.8			2.7			2.4		2.7			2.4
	8.0		8.1			9.0		9.8		Company-owned Life Insurance		2.4			2.4			2.4			2.6		2.8			2.8
	9.5		28.3			13.8		16.1		Other Income		2.3			2.9			2.9			8.0		5.4			5.2
	149.2		164.1			150.9		158.0		Total Fees, Service Charges & Other Rev.		37.4			39.0			37.9			43.7		43.1			41.7
	2.9		0.9			1.5		(3.0	)	Gains (Losses) Sales of Securities		(2.7	)		(0.0	)		(0.5	)		0.1		4.5			2.1
	10.8		(3.4	)		1.5		0.2		Gains (Losses) Derivatives		0.0			(0.2	)		0.2			0.2		(0.7	)		(0.3	)
	162.9		161.6			153.9		155.1		Total Noninterest Income		34.8			38.7			37.6			44.1		46.9			43.5
	418.5		402.3			386.2		391.5		Total Revenues (FTE)		90.8			97.3			97.1			106.3		111.1			109.5
	171.9		147.8			157.6		163.7		Salaries and Employee Benefits		41.3			41.5			39.6			41.2		42.3			43.2
	19.3		20.4			19.9		26.5		Occupancy		6.4			5.5			5.9			8.7		9.6			9.6
	14.2		14.4			12.7		11.1		Equipment		3.1			2.8			2.7			2.5		2.6			2.5
	9.8		8.3			10.4		8.4		Marketing		2.3			2.2			1.7			2.1		2.0			2.7
	21.6		21.2			18.0		19.2		Data Processing		5.1			4.8			4.7			4.7		4.6			4.9
	10.7		9.9			9.2		9.3		Communication		2.4			2.3			2.3			2.3		2.3			2.2
	25.9		9.3			7.6		7.7		Professional Fees		2.0			1.9			1.7			2.2		1.7			1.9
	6.5		5.3			5.7		6.0		Loan Expenses		1.2			1.9			1.5			1.4		1.3			1.7
	3.8		3.8			3.4		3.5		Supplies		1.0			0.8			0.8			0.9		0.9			0.7
	25.7		23.5			20.2		22.6		Other Expense		8.3			4.7			4.5			5.1		3.6			5.4
	309.4		263.8			264.7		278.0		Total Noninterest Expense		73.0			68.4			65.5			71.0		70.9			74.8
	22.4		23.1			7.0		4.1		Provision for Loan Losses		2.4			—			—			1.7		21.9			5.7
	86.7		115.4			114.5		109.4		Income before Income Taxes and Discontinued Operations (FTE)		15.3			28.9			31.6			33.6		18.2			28.9
	2.5		15.3			15.6		17.3		Income Taxes on Continuing Ops.		0.3			5.1			4.7			7.2		(5.5	)		4.8
	23.9		21.5			19.5		17.2		FTE Adjustment		4.2			4.3			4.3			4.4		4.4			4.6
	26.4		36.8			35.1		34.5		Total Taxes (FTE)		4.5			9.3			9.0			11.6		(1.1	)		9.4
	60.3		78.6			79.4		74.9		Income from Continuing Ops., (net of tax)		10.8			19.6			22.6			22.0		19.3			19.5
	2.8		(14.8	)		—		—		Income from Discontinued Ops., (net of tax)		—			—			—			—		—			—
$	63.1	$	63.8		$	79.4	$	74.9		Net Income	$	10.8		$	19.6		$	22.6		$	22.0	$	19.3		$	19.5
										Diluted EPS
$	0.86	$	1.15		$	1.20	$	1.14		Income from Continuing Operations	$	0.16		$	0.30		$	0.34		$	0.34	$	0.29		$	0.30
	0.04		(0.22	)		—		—		Income from Discontinued Operations		—			—			—			—		—			—
$	0.90	$	0.93		$	1.20	$	1.14		Net Income	$	0.16		$	0.30		$	0.34		$	0.34	$	0.29		$	0.30
	69,452		68,095			66,226		65,684		Average Basic Common Shares (000’s)		65,806			65,723			65,601			65,607		65,623			65,640
	70,024		68,256			66,261		65,750		Average Diluted Common Shares (000’s)		65,863			65,804			65,658			65,707		65,754			65,812

FTE — Fully taxable equivalent basis

PAGE 3

Old National Bancorp

Balance Sheet (EOP)
Second Quarter 2008
($ in Millions)

																Change from Prior Year
	6/30/2008			3/31/2008			12/31/2007			9/30/2007			6/30/2007			6/30/2008 vs. 6/30/2007						12/31/2006			12/31/2005
																$			%
Assets
Investments:
Treasury & Gov’t Sponsored Agencies	$	333.2		$	469.3		$	688.9		$	661.2		$	637.2		$	(304.0	)		-47.7	%	$	680.2		$	509.7
Mortgage-backed Securities		1,105.3			1,115.6			1,048.8			1,072.5			1,113.7			(8.5	)		-0.8	%		1,147.0			1,253.3
States & Political Subdivisions		328.0			294.3			294.9			259.6			263.2			64.8			24.6	%		273.3			488.4
Other Securities		260.8			267.5			275.9			268.7			260.9			(0.1	)		0.0	%		275.7			265.1
Fed Funds Sold & Resell Agreements		1.2			—			—			0.2			5.1			(3.9	)		-76.3	%		283.5			123.9
Money Market Investments		10.3			72.8			8.5			4.1			3.2			7.0			218.7	%		4.1			33.1
Total Investments		2,038.8			2,219.6			2,317.0			2,266.2			2,283.4			(244.6	)		-10.7	%		2,663.7			2,673.5
Residential Real Estate Loans Held for Sale		16.6			10.2			13.0			13.3			19.6			(3.0	)		-15.2	%		16.6			43.8
Loans:
Commercial Loans & Leases		1,826.1			1,740.3			1,694.7			1,692.5			1,717.2			108.9			6.3	%		1,629.9			1,553.7
Commercial & Agriculture Real Estate		1,196.5			1,235.3			1,270.4			1,308.3			1,379.4			(182.9	)		-13.3	%		1,386.4			1,534.4
Consumer:
Home Equity		252.2			245.9			250.1			256.0			263.0			(10.7	)		-4.1	%		284.8			337.4
Other Consumer Loans		935.9			930.8			937.6			954.3			948.7			(12.8	)		-1.4	%		914.1			924.4
Subtotal of Commercial & Consumer Loans		4,210.7			4,152.3			4,152.9			4,211.1			4,308.2			(97.5	)		-2.3	%		4,215.1			4,349.9
Residential Real Estate		516.0			528.5			533.4			539.3			545.3			(29.3	)		-5.4	%		484.9			543.9
Total Loans		4,726.7			4,680.8			4,686.4			4,750.4			4,853.5			(126.8	)		-2.6	%		4,700.0			4,893.8
Total Earning Assets		6,782.2			6,910.6			7,016.3			7,029.9			7,156.5			(374.4	)		-5.2	%		7,380.3			7,611.2
Allowance for Loan Losses		(62.1	)		(72.2	)		(56.5	)		(64.1	)		(67.5	)		(5.4	)		-8.0	%		(67.8	)		(78.8	)
Nonearning Assets:
Cash and Due from Banks		223.1			228.7			255.2			192.9			201.6			21.4			10.6	%		210.3			245.4
Premises & Equipment		44.3			45.8			48.7			47.3			44.8			(0.5	)		-1.1	%		122.9			199.9
Goodwill & Intangible Assets		188.7			190.3			191.0			191.9			192.8			(4.1	)		-2.1	%		134.2			136.3
Company-owned Life Insurance		219.7			216.9			214.5			211.9			210.5			9.1			4.3	%		198.0			193.5
Other Assets		206.0			203.4			176.9			222.8			249.0			(43.0	)		-17.3	%		171.6			184.7
Total Nonearning Assets		881.7			885.1			886.3			866.7			898.7			(17.0	)		-1.9	%		837.0			959.7
Total Assets	$	7,601.8		$	7,723.5		$	7,846.1		$	7,832.5		$	7,987.7		$	(386.0	)		-4.8	%	$	8,149.5		$	8,492.0
Liabilities & Equity
Noninterest-bearing Demand Deposits	$	858.6		$	861.1		$	855.4		$	840.5		$	861.4		$	(2.8	)		-0.3	%	$	877.9		$	891.5
NOW Accounts		1,322.7			1,312.2			1,410.7			1,427.5			1,591.1			(268.4	)		-16.9	%		1,449.2			1,640.7
Savings Accounts		900.6			923.4			774.1			653.4			605.9			294.6			48.6	%		437.7			480.4
Money Market Accounts		483.2			517.8			562.1			690.4			746.8			(263.7	)		-35.3	%		925.3			869.0
Other Time under $100,000		1,191.2			1,125.3			1,283.0			1,330.8			1,341.0			(149.8	)		-11.2	%		1,369.0			1,378.0
Other Time $100,000 & over		470.3			476.4			562.1			673.3			754.8			(284.5	)		-37.7	%		932.6			840.9
Total Core Deposits		5,226.5			5,216.2			5,447.4			5,615.9			5,901.2			(674.7	)		-11.4	%		5,991.6			6,100.5
Brokered CD’s		145.9			130.3			216.0			258.6			311.5			(165.5	)		-53.1	%		329.9			365.1
Total Deposits		5,372.4			5,346.5			5,663.4			5,874.5			6,212.6			(840.2	)		-13.5	%		6,321.5			6,465.6
Short-term Borrowings		575.3			640.5			638.2			527.0			443.0			132.3			29.9	%		312.9			302.8
Long-term Borrowings		783.4			834.9			656.7			612.1			591.5			191.9			32.4	%		747.5			954.9
Total Borrowed Funds		1,358.7			1,475.4			1,295.0			1,139.2			1,034.5			324.2			31.3	%		1,060.5			1,257.7
Accrued Expenses & Other Liabilities		221.7			226.2			234.9			171.4			115.1			106.6			92.6	%		125.2			118.8
Total Liabilities		6,952.8			7,048.1			7,193.2			7,185.1			7,362.2			(409.4	)		-5.6	%		7,507.1			7,842.1
Common Stock, Surplus & Retained Earnings		689.4			684.2			664.2			671.0			662.9			26.5			4.0	%		667.5			671.7
Other Comprehensive Income		(40.4	)		(8.8	)		(11.3	)		(23.6	)		(37.4	)		(3.0	)		-8.1	%		(25.1	)		(21.8	)
Total Shareholders Equity		649.0			675.4			652.9			647.4			625.6			23.4			3.7	%		642.4			649.9
Total Liabilities & Shareholders Equity	$	7,601.8		$	7,723.5		$	7,846.1		$	7,832.5		$	7,987.7		$	(386.0	)		-4.8	%	$	8,149.5		$	8,492.0

EOP — End of period actual balances

N/M = Not meaningful

PAGE 4

Old National Bancorp

Balance Sheet Trends
PERIOD AVERAGES
($ in Millions)

													2007												2008
2004			2005			2006			2007				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
												Assets
												Investments:
$	640.4		$	574.1		$	584.3		$	636.8		Treasury & Gov’t Sponsored Agencies	$	648.8		$	595.2		$	641.5		$	661.7		$	653.4		$	405.7
	1,422.5			1,346.9			1,215.0			1,112.9		Mortgage-backed Securities		1,161.4			1,130.5			1,096.5			1,063.0			1,059.5			1,132.1
	638.4			536.9			408.5			263.7		States & Political Subdivisions		269.4			263.7			259.3			262.4			287.6			310.6
	153.3			273.9			254.6			268.6		Other Securities		272.6			263.2			260.9			277.5			276.2			265.8
	71.4			16.0			72.8			109.5		Fed Funds Sold & Resell Agreements		245.3			188.2			4.3			0.4			0.0			0.4
	23.7			21.1			14.8			7.7		Money Market Investments		5.1			11.2			5.2			9.2			12.4			31.6
	2,949.7			2,769.0			2,550.0			2,399.1		Total Investments		2,602.5			2,452.1			2,267.7			2,274.1			2,289.1			2,146.2
												Loans:
	1,611.1			1,578.2			1,592.3			1,679.6		Commercial Loans & Leases		1,675.9			1,687.7			1,677.5			1,677.4			1,710.3			1,772.9
	1,767.5			1,604.2			1,466.2			1,374.7		Commercial & Agriculture Real Estate		1,433.2			1,419.2			1,351.5			1,294.9			1,251.2			1,218.7
												Consumer:
	348.9			357.6			307.1			267.1		Home Equity		285.1			271.1			259.1			253.1			248.3			249.6
	847.6			889.9			929.7			937.4		Other Consumer Loans		915.7			933.4			954.0			946.5			933.0			932.3
	4,575.1			4,429.9			4,295.3			4,258.8		Subtotal of Commercial & Consumer Loans		4,309.9			4,311.3			4,242.1			4,172.0			4,142.9			4,173.5
	765.5			584.7			527.9			556.0		Residential Real Estate (1)		550.3			570.4			557.6			545.9			542.0			535.9
	5,340.7			5,014.7			4,823.1			4,814.9		Total Loans (1)		4,860.3			4,881.7			4,799.7			4,717.9			4,684.9			4,709.3
	8,290.4			7,783.6			7,373.1			7,214.0		Total Earning Assets		7,462.7			7,333.8			7,067.4			6,992.0			6,973.9			6,855.5
	(97.8	)		(82.9	)		(76.5	)		(68.2	)	Allowance for Loan Losses		(71.0	)		(71.7	)		(67.6	)		(62.5	)		(56.1	)		(67.9	)
	930.9			925.8			876.7			839.2		Nonearning Assets		849.6			857.0			856.2			794.0			764.1			806.3
$	9,123.5		$	8,626.5		$	8,173.4		$	7,985.0		Total Assets	$	8,241.4		$	8,119.0		$	7,856.0		$	7,723.6		$	7,682.0		$	7,594.0
												Liabilities & Equity
												Noninterest-bearing Demand
$	803.1		$	837.6		$	800.7		$	828.5		Deposits	$	822.5		$	837.5		$	821.6		$	832.2		$	811.2		$	824.9
	1,735.6			1,754.9			1,429.8			1,490.4		NOW Accounts		1,542.1			1,616.6			1,452.6			1,350.4			1,310.8			1,264.7
	471.3			485.3			441.3			622.4		Savings Accounts		539.4			583.0			619.8			747.4			828.4			906.3
	587.0			695.0			886.2			758.6		Money Market Accounts		882.6			811.9			735.2			604.6			541.0			498.1
	2,449.3			2,202.4			2,277.9			2,134.9		Other Time		2,347.4			2,239.1			2,042.7			1,910.3			1,737.3			1,593.5
	6,046.3			5,975.2			5,835.8			5,834.7		Total Core Deposits		6,134.0			6,088.2			5,671.8			5,444.9			5,228.7			5,087.6
	375.3			376.2			338.4			291.5		Brokered CD’s		321.3			315.6			306.3			222.6			196.8			112.8
	6,421.5			6,351.3			6,174.2			6,126.2		Total Deposits		6,455.3			6,403.8			5,978.2			5,667.5			5,425.5			5,200.4
	406.1			388.2			402.2			461.8		Short-term Borrowings		375.0			376.4			525.0			570.8			625.4			679.6
	1,463.5			1,094.6			835.6			615.9		Long-term Borrowings		644.0			592.8			594.3			632.5			754.7			832.5
	1,869.6			1,482.8			1,237.8			1,077.7		Total Borrowed Funds		1,018.9			969.2			1,119.3			1,203.2			1,380.1			1,512.1
	117.8			107.1			123.0			139.3		Accrued Expenses & Other Liabilities		127.2			110.2			123.9			195.9			204.2			208.6
	8,408.9			7,941.2			7,535.1			7,343.1		Total Liabilities		7,601.4			7,483.2			7,221.3			7,066.6			7,009.7			6,921.1
	708.0			690.9			666.2			666.8		Common Stock, Surplus & Retained Earnings		666.9			659.1			667.5			673.7			675.9			688.7
	6.6			(5.6	)		(27.8	)		(25.0	)	Other Comprehensive Income		(26.9	)		(23.3	)		(32.9	)		(16.7	)		(3.6	)		(15.8	)
	714.6			685.3			638.4			641.8		Total Shareholders Equity		640.0			635.8			634.7			656.9			672.3			672.9
$	9,123.5		$	8,626.5		$	8,173.4		$	7,985.0		Total Liabilities & Shareholders Equity	$	8,241.4		$	8,119.0		$	7,856.0		$	7,723.6		$	7,682.0		$	7,594.0

(1)    Includes residential loans held for sale.

PAGE 5

Old National Bancorp
Interest Rate Trends (FTE basis)
PERIOD AVERAGES

													2007												2008
2004			2005			2006			2007				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
												Earning Assets:
												Investments:
	3.18	%		3.44	%		4.55	%		5.07	%	Treasury & Gov’t Sponsored Agencies		4.87	%		5.11	%		5.14	%		5.17	%		4.66	%		4.97	%
	4.18	%		4.24	%		4.55	%		4.68	%	Mortgage-backed Securities		4.61	%		4.64	%		4.74	%		4.74	%		4.79	%		5.03	%
	6.92	%		6.88	%		6.93	%		7.07	%	States & Political Subdivisions		7.05	%		7.04	%		7.10	%		7.12	%		6.85	%		6.76	%
	4.14	%		4.55	%		5.14	%		5.25	%	Other Securities		5.32	%		5.11	%		5.22	%		5.33	%		5.31	%		5.30	%
	1.31	%		4.08	%		5.20	%		5.35	%	Fed Funds Sold, Resell Agr & Money Mkt		5.41	%		5.18	%		8.98	%		5.50	%		10.74	%		2.42	%
	4.46	%		4.61	%		5.01	%		5.14	%	Total Investments		5.07	%		5.10	%		5.19	%		5.22	%		5.11	%		5.26	%
												Loans:
	5.41	%		6.39	%		7.32	%		7.47	%	Commercial Loans & Leases		7.54	%		7.57	%		7.54	%		7.25	%		6.64	%		5.86	%
	5.70	%		6.36	%		7.27	%		7.56	%	Commercial & Agriculture Real Estate		7.35	%		7.73	%		7.85	%		7.31	%		6.70	%		6.25	%
												Consumer:
	5.17	%		6.28	%		8.04	%		8.17	%	Home Equity		8.29	%		8.27	%		8.33	%		7.78	%		6.71	%		5.49	%
	7.16	%		6.93	%		7.13	%		7.61	%	Other Consumer Loans		7.40	%		7.60	%		7.70	%		7.71	%		7.79	%		7.66	%
	5.83	%		6.48	%		7.31	%		7.57	%	Subtotal of Commercial & Consumer Loans		7.50	%		7.67	%		7.73	%		7.40	%		6.92	%		6.35	%
	5.60	%		5.47	%		5.54	%		5.86	%	Residential Real Estate Loans (1)		5.73	%		5.90	%		5.89	%		5.91	%		5.92	%		5.85	%
	5.79	%		6.36	%		7.12	%		7.38	%	Total Loans (1)		7.29	%		7.46	%		7.51	%		7.23	%		6.81	%		6.28	%
	5.32	%		5.74	%		6.39	%		6.63	%	Total Earning Assets		6.51	%		6.67	%		6.77	%		6.58	%		6.25	%		5.97	%
												Interest-bearing Liabilities:
	0.94	%		1.44	%		1.92	%		2.12	%	NOW Accounts		2.34	%		2.43	%		2.16	%		1.48	%		0.84	%		0.52	%
	0.47	%		0.87	%		1.28	%		2.43	%	Savings Accounts		2.35	%		2.29	%		2.50	%		2.54	%		2.03	%		1.50	%
	1.10	%		2.71	%		3.32	%		3.11	%	Money Market Accounts		3.55	%		3.31	%		3.06	%		2.32	%		1.71	%		1.14	%
	3.25	%		3.32	%		4.15	%		4.64	%	Other Time		4.64	%		4.70	%		4.63	%		4.58	%		4.26	%		3.67	%
	1.99	%		2.36	%		3.12	%		3.38	%	Total Interest-bearing Deposits		3.56	%		3.52	%		3.38	%		3.04	%		2.51	%		1.98	%
	4.71	%		4.64	%		4.57	%		4.72	%	Brokered CD’s		4.74	%		4.76	%		4.83	%		4.53	%		4.32	%		4.01	%
	2.18	%		2.52	%		3.21	%		3.46	%	Total Interest-bearing Deposits & CD’s		3.62	%		3.59	%		3.47	%		3.11	%		2.59	%		2.03	%
	0.96	%		2.48	%		3.98	%		3.94	%	Short-term Borrowings		4.11	%		4.02	%		4.12	%		3.60	%		2.53	%		1.81	%
	4.05	%		5.26	%		6.03	%		6.64	%	Long-term Borrowings		6.55	%		6.77	%		6.82	%		6.43	%		5.69	%		5.25	%
	3.37	%		4.53	%		5.37	%		5.48	%	Total Borrowed Funds		5.65	%		5.70	%		5.55	%		5.09	%		4.27	%		3.70	%
	2.48	%		2.95	%		3.61	%		3.80	%	Total Interest-bearing Liabilities		3.93	%		3.90	%		3.84	%		3.51	%		2.98	%		2.46	%
	2.84	%		2.79	%		2.78	%		2.83	%	Net Interest Rate Spread		2.58	%		2.77	%		2.93	%		3.07	%		3.27	%		3.51	%
	3.08	%		3.09	%		3.15	%		3.28	%	Net Interest Margin		3.00	%		3.20	%		3.37	%		3.56	%		3.68	%		3.85	%

FTE  — Fully taxable equivalent basis

(1)    Includes residential loans held for sale.

PAGE 6

Old National Bancorp
Asset Quality (EOP)
($ in Millions)

													2007												2008
2004			2005			2006			2007				1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr
$	95.2		$	85.7		$	78.8		$	67.8		Beginning Allowance for Loan Losses	$	67.8		$	71.3		$	67.5		$	64.1		$	56.5		$	72.2
	22.4			23.1			7.0			4.1		Provision for Loan Losses		2.4			—			—			1.7			21.9			5.7
	—			—			—			5.7		Acquired from acquisition		5.7			—			—			—			—			—
	0.7			—			—			—		Transfer to Allow. Unfunded Commitments		—			—			—			—			—			—
	(41.2	)		(36.1	)		(27.9	)		(26.9	)	Gross Charge-offs		(7.7	)		(6.0	)		(4.2	)		(9.0	)		(8.7	)		(18.0	)
	(4.6	)		(5.3	)		(2.8	)		(5.3	)	Write-downs from Loans Sold		—			(1.1	)		(1.4	)		(2.8	)		—			—
	13.2			11.5			12.7			11.1		Gross Recoveries		3.1			3.3			2.3			2.4			2.6			2.1
	(32.6	)		(30.0	)		(18.1	)		(21.1	)	Net Charge-offs		(4.6	)		(3.8	)		(3.3	)		(9.3	)		(6.1	)		(15.9	)
$	85.7		$	78.8		$	67.8		$	56.5		Ending Allowance for Loan Losses	$	71.3		$	67.5		$	64.1		$	56.5		$	72.2		$	62.1
	0.61	%		0.60	%		0.37	%		0.44	%	Net Charge-offs / Average Loans (1)		0.38	%		0.31	%		0.28	%		0.79	%		0.52	%		1.35	%
$	5,340.7		$	5,014.7		$	4,823.1		$	4,814.9		Average Loans Outstanding (1)	$	4,860.3		$	4,881.7		$	4,799.7		$	4,717.9		$	4,684.9		$	4,709.3
$	4,987.3		$	4,937.6		$	4,716.6		$	4,699.4		EOP Loans Outstanding (1)	$	4,900.2		$	4,873.1		$	4,763.7		$	4,699.4		$	4,691.0		$	4,743.4
	1.73	%		1.61	%		1.44	%		1.20	%	Allowance for Loan Loss / EOP Loans (2)		1.46	%		1.39	%		1.35	%		1.20	%		1.54	%		1.31	%
												Underperforming Assets:
$	2.4		$	1.8		$	2.1		$	1.5		Loans 90 Days & over (still accruing)	$	0.5		$	1.0		$	2.2		$	1.5		$	1.5		$	1.6
												Non-performing Loans:
	54.9			55.6			41.5			40.8		Nonaccrual Loans		60.4			58.5			49.3			40.8			70.2			68.1
	—			—			0.1			—		Renegotiated Loans		0.0			0.0			—			—			—			—
	54.9			55.6			41.6			40.8		Total Non-performing Loans		60.5			58.5			49.3			40.8			70.2			68.1
	8.3			3.6			3.3			2.9		Foreclosed properties		3.6			2.3			7.9			2.9			2.3			3.3
$	65.6		$	61.0		$	47.0		$	45.2		Total Underperforming Assets	$	64.6		$	61.8		$	59.4		$	45.2		$	74.1		$	72.9
$	192.2		$	136.6		$	153.2		$	115.1		Classified Loans — “Problem Loans”	$	166.4		$	131.8		$	130.2		$	115.1		$	153.7		$	149.8
	148.1			83.2			119.8			103.2		Criticized Loans — “Special Mention Loans”		97.8			89.8			79.1			103.2			103.8			97.5
$	340.3		$	219.8		$	273.0		$	218.3		Total Classified & Criticized Loans	$	264.2		$	221.6		$	209.3		$	218.3		$	257.5		$	247.3
	1.10	%		1.13	%		0.88	%		0.87	%	Non-performing loans / EOP Loans (1)		1.23	%		1.20	%		1.04	%		0.87	%		1.50	%		1.43	%
	156	%		142	%		163	%		138	%	Allowance to Non-performing Loans		118	%		115	%		130	%		138	%		103	%		91	%
	1.31	%		1.24	%		1.00	%		0.96	%	Under-performing Assets / EOP Loans (1)		1.32	%		1.27	%		1.25	%		0.96	%		1.58	%		1.54	%
$	8,898.3		$	8,492.0		$	8,149.5		$	7,846.1		EOP Total Assets	$	8,331.6		$	7,987.7		$	7,832.5		$	7,846.1		$	7,723.5		$	7,601.8
	0.74	%		0.72	%		0.58	%		0.58	%	Under-performing Assets / EOP Assets		0.77	%		0.77	%		0.76	%		0.58	%		0.96	%		0.96	%

EOP — End of period actual balances
(1)	Includes residential loans held for sale.
(2)	Excludes residential loans held for sale.

PAGE 7