Other Borrowings (Tables)

12 Months Ended

Dec. 31, 2018

Other Borrowings

The following table summarizes Old National’s other borrowings at December 31:

	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 bank notes		(870	)		(1,026	)
Junior subordinated debentures (variable rates    of 4.01% to 6.39%) maturing April 2032    to June 2037		60,310			60,310
Other basis adjustments		(3,046	)		(3,585	)
Old National Bank:
Capital lease obligations		5,262			5,389
Subordinated debentures (fixed rate 5.75%)		12,000			12,000
Other		(773	)		694
Total other borrowings	$	247,883		$	248,782

Contractual Maturities of Other Borrowings

Contractual maturities of other borrowings at December 31, 2018 were as follows:

(dollars in thousands)
Due in 2019	$	137
Due in 2020		147
Due in 2021		160
Due in 2022		172
Due in 2023		196
Thereafter		250,382
Unamortized debt issuance costs and other    basis adjustments		(3,311	)
Total	$	247,883

Future Minimum Lease Payments under Capital Lease Arrangements

At December 31, 2018, the future minimum lease payments under the capital lease arrangements were as follows:

(dollars in thousands)
2019	$	589
2020		589
2021		589
2022		589
2023		599
Thereafter		8,676
Total minimum lease payments		11,631
Less amounts representing interest		(6,369	)
Present value of net minimum lease payments	$	5,262

Junior Subordinated Debt [Member]

Other Borrowings

The following table summarizes the terms of our outstanding junior subordinated debentures as of December 31, 2018:

(dollars in thousands)					Rate at
		Issuance			December 31,
Name of Trust	Issuance Date	Amount		Rate	2018	Maturity Date
VFSC Capital Trust I	April 2002	$	3,093	6-month LIBOR plus 3.70%	6.39%	April 22, 2032
VFSC Capital Trust II	October 2002		4,124	3-month LIBOR plus 3.45%	6.09%	November 7, 2032
VFSC Capital Trust III	April 2004		3,093	3-month LIBOR plus 2.80%	5.57%	September 8, 2034
St. Joseph Capital Trust II	March 2005		5,000	3-month LIBOR plus 1.75%	4.54%	March 17, 2035
Anchor Capital Trust III	August 2005		5,000	3-month LIBOR plus 1.55%	4.35%	September 30, 2035
Tower Capital Trust 2	December 2005		8,000	3-month LIBOR plus 1.34%	4.14%	December 30, 2035
Home Federal Statutory    Trust I	September 2006		15,000	3-month LIBOR plus 1.65%	4.44%	September 15, 2036
Monroe Bancorp Capital    Trust I	July 2006		3,000	3-month LIBOR plus 1.60%	4.01%	October 7, 2036
Tower Capital Trust 3	December 2006		9,000	3-month LIBOR plus 1.69%	4.43%	March 1, 2037
Monroe Bancorp Statutory    Trust II	March 2007		5,000	3-month LIBOR plus 1.60%	4.39%	June 15, 2037
Total		$	60,310