Other Borrowings (Tables)

9 Months Ended

Sep. 30, 2018

Other Borrowings

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

	September 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		(910	)		(1,026	)
Junior subordinated debentures (variable rates of    3.74% to 6.22%) maturing April 2032    to June 2037		60,310			60,310
Other basis adjustments		(3,182	)		(3,585	)
Old National Bank:
Capital lease obligations		5,294			5,389
Subordinated debentures (fixed rate 5.75%)		12,000			12,000
Other		3,150			694
Total other borrowings	$	251,662		$	248,782

Contractual Maturities of Other Borrowings

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

(dollars in thousands)
Due in 2018	$	2,554
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		(3,464	)
Total	$	251,662

Future Minimum Lease Payments under Capital Lease Arrangements

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

(dollars in thousands)
2018	$	142
2019		589
2020		589
2021		589
2022		589
Thereafter		9,275
Total minimum lease payments		11,773
Less amounts representing interest		(6,479	)
Present value of net minimum lease payments	$	5,294

Junior Subordinated Debt [Member]

Other Borrowings

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

(dollars in thousands)					Rate at
		Issuance			September 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%	5.13%	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%	3.95%	September 30, 2035
Tower Capital Trust 2	December 2005		8,000	3-month LIBOR plus 1.34%	3.74%	December 30, 2035
Home Federal Statutory    Trust I	September 2006		15,000	3-month LIBOR plus 1.65%	3.98%	September 15, 2036
Monroe Bancorp Capital    Trust I	July 2006		3,000	3-month LIBOR plus 1.60%	3.94%	October 7, 2036
Tower Capital Trust 3	December 2006		9,000	3-month LIBOR plus 1.69%	4.01%	March 1, 2037
Monroe Bancorp Statutory    Trust II	March 2007		5,000	3-month LIBOR plus 1.60%	3.93%	June 15, 2037
Total		$	60,310