onb-20220930FALSE2022Q30000707179--12-31http://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2022#OtherBorrowingshttp://fasb.org/us-gaap/2022#OtherBorrowings00007071792022-01-012022-09-300000707179us-gaap:CommonStockMember2022-01-012022-09-300000707179onb:DepositarySharesEachRepresentingA140thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesAMember2022-01-012022-09-300000707179onb:DepositarySharesEachRepresentingA140thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesCMember2022-01-012022-09-3000007071792022-10-31xbrli:shares00007071792022-09-30iso4217:USD00007071792021-12-310000707179us-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:USTreasurySecuritiesMember2021-12-310000707179us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000707179us-gaap:MortgageBackedSecuritiesMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMember2021-12-310000707179us-gaap:USStatesAndPoliticalSubdivisionsMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000707179onb:OtherDebtSecuritiesIncludingPooledTrustPreferredSecuritiesMember2022-09-300000707179onb:OtherDebtSecuritiesIncludingPooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMember2021-12-310000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:ConsumerPortfolioSegmentMember2022-09-300000707179us-gaap:ConsumerPortfolioSegmentMember2021-12-31iso4217:USDxbrli:shares00007071792022-07-012022-09-3000007071792021-07-012021-09-3000007071792021-01-012021-09-300000707179us-gaap:PreferredStockMember2020-12-310000707179us-gaap:CommonStockMember2020-12-310000707179us-gaap:AdditionalPaidInCapitalMember2020-12-310000707179us-gaap:RetainedEarningsMember2020-12-310000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-3100007071792020-12-310000707179us-gaap:RetainedEarningsMember2021-01-012021-03-3100007071792021-01-012021-03-310000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000707179us-gaap:CommonStockMember2021-01-012021-03-310000707179us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310000707179us-gaap:PreferredStockMember2021-03-310000707179us-gaap:CommonStockMember2021-03-310000707179us-gaap:AdditionalPaidInCapitalMember2021-03-310000707179us-gaap:RetainedEarningsMember2021-03-310000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100007071792021-03-310000707179us-gaap:RetainedEarningsMember2021-04-012021-06-3000007071792021-04-012021-06-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000707179us-gaap:CommonStockMember2021-04-012021-06-300000707179us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300000707179us-gaap:PreferredStockMember2021-06-300000707179us-gaap:CommonStockMember2021-06-300000707179us-gaap:AdditionalPaidInCapitalMember2021-06-300000707179us-gaap:RetainedEarningsMember2021-06-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-3000007071792021-06-300000707179us-gaap:RetainedEarningsMember2021-07-012021-09-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000707179us-gaap:CommonStockMember2021-07-012021-09-300000707179us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300000707179us-gaap:PreferredStockMember2021-09-300000707179us-gaap:CommonStockMember2021-09-300000707179us-gaap:AdditionalPaidInCapitalMember2021-09-300000707179us-gaap:RetainedEarningsMember2021-09-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-3000007071792021-09-300000707179us-gaap:PreferredStockMember2021-12-310000707179us-gaap:CommonStockMember2021-12-310000707179us-gaap:AdditionalPaidInCapitalMember2021-12-310000707179us-gaap:RetainedEarningsMember2021-12-310000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000707179us-gaap:RetainedEarningsMember2022-01-012022-03-3100007071792022-01-012022-03-310000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000707179us-gaap:CommonStockMember2022-01-012022-03-310000707179us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310000707179us-gaap:PreferredStockMember2022-01-012022-03-310000707179us-gaap:PreferredStockMember2022-03-310000707179us-gaap:CommonStockMember2022-03-310000707179us-gaap:AdditionalPaidInCapitalMember2022-03-310000707179us-gaap:RetainedEarningsMember2022-03-310000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100007071792022-03-310000707179us-gaap:RetainedEarningsMember2022-04-012022-06-3000007071792022-04-012022-06-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000707179us-gaap:CommonStockMember2022-04-012022-06-300000707179us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300000707179us-gaap:PreferredStockMember2022-06-300000707179us-gaap:CommonStockMember2022-06-300000707179us-gaap:AdditionalPaidInCapitalMember2022-06-300000707179us-gaap:RetainedEarningsMember2022-06-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-3000007071792022-06-300000707179us-gaap:RetainedEarningsMember2022-07-012022-09-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000707179us-gaap:CommonStockMember2022-07-012022-09-300000707179us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300000707179us-gaap:PreferredStockMember2022-09-300000707179us-gaap:CommonStockMember2022-09-300000707179us-gaap:AdditionalPaidInCapitalMember2022-09-300000707179us-gaap:RetainedEarningsMember2022-09-300000707179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300000707179us-gaap:CommonStockMember2022-01-012022-09-300000707179us-gaap:CommonStockMember2021-01-012021-09-300000707179us-gaap:PreferredStockMember2022-01-012022-09-300000707179us-gaap:PreferredStockMember2021-01-012021-09-300000707179onb:FirstMidwestBancorpIncMember2021-05-30xbrli:pure0000707179us-gaap:SeriesAPreferredStockMemberonb:FirstMidwestBancorpIncMember2021-05-302021-05-300000707179onb:FirstMidwestBancorpIncMemberus-gaap:SeriesCPreferredStockMember2021-05-302021-05-300000707179us-gaap:SeriesAPreferredStockMember2022-02-152022-02-150000707179us-gaap:SeriesCPreferredStockMember2022-02-152022-02-1500007071792022-02-15onb:agreement0000707179onb:DepositarySharesEachRepresentingA140thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesAMember2022-02-152022-02-150000707179onb:DepositarySharesEachRepresentingA140thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesCMember2022-02-152022-02-150000707179onb:FirstMidwestBancorpIncMember2022-02-162022-09-300000707179onb:FirstMidwestBancorpIncMember2022-02-150000707179us-gaap:PreferredStockMemberonb:FirstMidwestBancorpIncMember2022-02-152022-02-150000707179us-gaap:CommonStockMember2022-02-152022-02-150000707179us-gaap:CommonStockMember2022-02-150000707179us-gaap:CommonStockMemberonb:FirstMidwestBancorpIncMember2022-02-152022-02-150000707179onb:FirstMidwestBancorpIncMember2022-02-152022-02-150000707179onb:FirstMidwestBancorpIncMemberus-gaap:CoreDepositsMember2022-02-150000707179onb:FirstMidwestBancorpIncMemberus-gaap:CoreDepositsMember2022-02-152022-02-150000707179onb:FirstMidwestBancorpIncMemberus-gaap:CustomerRelationshipsMember2022-02-150000707179onb:FirstMidwestBancorpIncMemberus-gaap:CustomerRelationshipsMember2022-02-152022-02-1500007071792022-02-152022-02-150000707179onb:FirstMidwestBancorpIncMember2022-01-012022-09-300000707179onb:FirstMidwestBancorpIncMember2022-07-012022-09-300000707179onb:FirstMidwestBancorpIncMemberus-gaap:UnfundedLoanCommitmentMember2022-09-300000707179onb:FirstMidwestBancorpIncMember2022-09-300000707179onb:PooledTrustPreferredSecuritiesMember2022-09-300000707179us-gaap:OtherDebtSecuritiesMember2022-09-300000707179onb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:OtherDebtSecuritiesMember2021-12-31onb:security0000707179us-gaap:OtherAssetsMember2022-09-300000707179srt:PartnershipInterestMemberus-gaap:OtherAssetsMember2022-09-300000707179onb:InitiativesInLowToModerateIncomeNeighborhoodsMemberus-gaap:OtherAssetsMember2022-09-300000707179us-gaap:OtherAssetsMember2021-12-31onb:portfolioonb:segment0000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2022-09-300000707179onb:SegmentPortfolioReclassificationMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179us-gaap:ResidentialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:ConsumerPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:IndirectPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179onb:DirectPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMember2022-09-300000707179onb:HomeEquityPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2021-12-310000707179onb:SegmentPortfolioReclassificationMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:BusinessBankingCreditCenterPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179us-gaap:ResidentialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:ConsumerPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:IndirectPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179onb:DirectPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMember2021-12-310000707179onb:HomeEquityPortfolioSegmentMemberonb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMember2021-12-310000707179us-gaap:FinanceLeasesPortfolioSegmentMember2022-09-300000707179us-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:PaycheckProtectionProgramLoansMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:PaycheckProtectionProgramLoansMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMember2022-06-300000707179us-gaap:CommercialPortfolioSegmentMember2022-07-012022-09-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2022-06-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2022-07-012022-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2022-06-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2022-07-012022-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179us-gaap:ResidentialPortfolioSegmentMember2022-06-300000707179us-gaap:ResidentialPortfolioSegmentMember2022-07-012022-09-300000707179onb:IndirectPortfolioSegmentMember2022-06-300000707179onb:IndirectPortfolioSegmentMember2022-07-012022-09-300000707179onb:IndirectPortfolioSegmentMember2022-09-300000707179onb:DirectPortfolioSegmentMember2022-06-300000707179onb:DirectPortfolioSegmentMember2022-07-012022-09-300000707179onb:DirectPortfolioSegmentMember2022-09-300000707179onb:HomeEquityPortfolioSegmentMember2022-06-300000707179onb:HomeEquityPortfolioSegmentMember2022-07-012022-09-300000707179onb:HomeEquityPortfolioSegmentMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMember2021-06-300000707179us-gaap:CommercialPortfolioSegmentMember2021-07-012021-09-300000707179us-gaap:CommercialPortfolioSegmentMember2021-09-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2021-06-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2021-07-012021-09-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2021-06-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2021-07-012021-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2021-09-300000707179us-gaap:ResidentialPortfolioSegmentMember2021-06-300000707179us-gaap:ResidentialPortfolioSegmentMember2021-07-012021-09-300000707179us-gaap:ResidentialPortfolioSegmentMember2021-09-300000707179onb:IndirectPortfolioSegmentMember2021-06-300000707179onb:IndirectPortfolioSegmentMember2021-07-012021-09-300000707179onb:IndirectPortfolioSegmentMember2021-09-300000707179onb:DirectPortfolioSegmentMember2021-06-300000707179onb:DirectPortfolioSegmentMember2021-07-012021-09-300000707179onb:DirectPortfolioSegmentMember2021-09-300000707179onb:HomeEquityPortfolioSegmentMember2021-06-300000707179onb:HomeEquityPortfolioSegmentMember2021-07-012021-09-300000707179onb:HomeEquityPortfolioSegmentMember2021-09-300000707179us-gaap:CommercialPortfolioSegmentMember2022-01-012022-09-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2022-01-012022-09-300000707179us-gaap:ResidentialPortfolioSegmentMember2022-01-012022-09-300000707179onb:IndirectPortfolioSegmentMember2021-12-310000707179onb:IndirectPortfolioSegmentMember2022-01-012022-09-300000707179onb:DirectPortfolioSegmentMember2021-12-310000707179onb:DirectPortfolioSegmentMember2022-01-012022-09-300000707179onb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:HomeEquityPortfolioSegmentMember2022-01-012022-09-300000707179us-gaap:CommercialPortfolioSegmentMember2020-12-310000707179us-gaap:CommercialPortfolioSegmentMember2021-01-012021-09-300000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000707179us-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2020-12-310000707179onb:BusinessBankingCreditCenterPortfolioSegmentMember2021-01-012021-09-300000707179us-gaap:ResidentialPortfolioSegmentMember2020-12-310000707179us-gaap:ResidentialPortfolioSegmentMember2021-01-012021-09-300000707179onb:IndirectPortfolioSegmentMember2020-12-310000707179onb:IndirectPortfolioSegmentMember2021-01-012021-09-300000707179onb:DirectPortfolioSegmentMember2020-12-310000707179onb:DirectPortfolioSegmentMember2021-01-012021-09-300000707179onb:HomeEquityPortfolioSegmentMember2020-12-310000707179onb:HomeEquityPortfolioSegmentMember2021-01-012021-09-300000707179us-gaap:UnfundedLoanCommitmentMember2022-06-300000707179us-gaap:UnfundedLoanCommitmentMember2021-06-300000707179us-gaap:UnfundedLoanCommitmentMember2021-12-310000707179us-gaap:UnfundedLoanCommitmentMember2020-12-310000707179us-gaap:UnfundedLoanCommitmentMember2022-07-012022-09-300000707179us-gaap:UnfundedLoanCommitmentMember2021-07-012021-09-300000707179us-gaap:UnfundedLoanCommitmentMember2022-01-012022-09-300000707179us-gaap:UnfundedLoanCommitmentMember2021-01-012021-09-300000707179us-gaap:UnfundedLoanCommitmentMember2022-09-300000707179us-gaap:UnfundedLoanCommitmentMember2021-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:PassMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CriticizedMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:SubstandardMember2022-09-300000707179onb:NonAccrualMemberus-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:DoubtfulMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CriticizedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:NonAccrualMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:PassMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:CriticizedMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:SubstandardMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:NonAccrualMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:DoubtfulMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:PassMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CriticizedMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:SubstandardMember2021-12-310000707179onb:NonAccrualMemberus-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:DoubtfulMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CriticizedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:NonAccrualMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:PassMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:CriticizedMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:SubstandardMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:NonAccrualMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:DoubtfulMember2021-12-310000707179us-gaap:PerformingFinancingReceivableMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:PerformingFinancingReceivableMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179us-gaap:NonperformingFinancingReceivableMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179us-gaap:PerformingFinancingReceivableMemberonb:DirectPortfolioSegmentMember2022-09-300000707179us-gaap:NonperformingFinancingReceivableMemberonb:DirectPortfolioSegmentMember2022-09-300000707179us-gaap:PerformingFinancingReceivableMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179us-gaap:NonperformingFinancingReceivableMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179us-gaap:PerformingFinancingReceivableMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:PerformingFinancingReceivableMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179us-gaap:NonperformingFinancingReceivableMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179us-gaap:PerformingFinancingReceivableMemberonb:DirectPortfolioSegmentMember2021-12-310000707179us-gaap:NonperformingFinancingReceivableMemberonb:DirectPortfolioSegmentMember2021-12-310000707179us-gaap:PerformingFinancingReceivableMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179us-gaap:NonperformingFinancingReceivableMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberonb:DirectPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:DirectPortfolioSegmentMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMember2022-09-300000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberonb:DirectPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:DirectPortfolioSegmentMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:DirectPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000707179onb:SegmentPortfolioReclassificationAdjustedBalanceMemberus-gaap:FinancialAssetPastDueMember2021-12-310000707179us-gaap:FinancialAssetNotPastDueMemberonb:SegmentPortfolioReclassificationAdjustedBalanceMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:BlanketLienCollateralMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:InvestmentSecuritiesAndCashCollateralMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:AutomobilesMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:OtherCollateralMember2022-09-300000707179us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:BlanketLienCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:AutomobilesMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:OtherCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:RealEstateMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:BlanketLienCollateralMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179us-gaap:AutomobilesMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2022-09-300000707179onb:BusinessBankingCreditCenterPortfolioSegmentMemberonb:OtherCollateralMember2022-09-300000707179us-gaap:RealEstateMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179onb:BlanketLienCollateralMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:AutomobilesMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:ResidentialPortfolioSegmentMemberonb:OtherCollateralMember2022-09-300000707179onb:IndirectPortfolioSegmentMemberus-gaap:RealEstateMember2022-09-300000707179onb:BlanketLienCollateralMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:IndirectPortfolioSegmentMember2022-09-300000707179onb:IndirectPortfolioSegmentMemberus-gaap:AutomobilesMember2022-09-300000707179onb:IndirectPortfolioSegmentMemberonb:OtherCollateralMember2022-09-300000707179us-gaap:RealEstateMemberonb:DirectPortfolioSegmentMember2022-09-300000707179onb:BlanketLienCollateralMemberonb:DirectPortfolioSegmentMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:DirectPortfolioSegmentMember2022-09-300000707179us-gaap:AutomobilesMemberonb:DirectPortfolioSegmentMember2022-09-300000707179onb:DirectPortfolioSegmentMemberonb:OtherCollateralMember2022-09-300000707179us-gaap:RealEstateMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179onb:BlanketLienCollateralMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179us-gaap:AutomobilesMemberonb:HomeEquityPortfolioSegmentMember2022-09-300000707179onb:HomeEquityPortfolioSegmentMemberonb:OtherCollateralMember2022-09-300000707179us-gaap:RealEstateMember2022-09-300000707179onb:BlanketLienCollateralMember2022-09-300000707179onb:InvestmentSecuritiesAndCashCollateralMember2022-09-300000707179us-gaap:AutomobilesMember2022-09-300000707179onb:OtherCollateralMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:BlanketLienCollateralMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:InvestmentSecuritiesAndCashCollateralMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:AutomobilesMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:OtherCollateralMember2021-12-310000707179us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:BlanketLienCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:AutomobilesMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:OtherCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:RealEstateMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:BlanketLienCollateralMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179us-gaap:AutomobilesMemberonb:BusinessBankingCreditCenterPortfolioSegmentMember2021-12-310000707179onb:BusinessBankingCreditCenterPortfolioSegmentMemberonb:OtherCollateralMember2021-12-310000707179us-gaap:RealEstateMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179onb:BlanketLienCollateralMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:AutomobilesMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:ResidentialPortfolioSegmentMemberonb:OtherCollateralMember2021-12-310000707179onb:IndirectPortfolioSegmentMemberus-gaap:RealEstateMember2021-12-310000707179onb:BlanketLienCollateralMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:IndirectPortfolioSegmentMember2021-12-310000707179onb:IndirectPortfolioSegmentMemberus-gaap:AutomobilesMember2021-12-310000707179onb:IndirectPortfolioSegmentMemberonb:OtherCollateralMember2021-12-310000707179us-gaap:RealEstateMemberonb:DirectPortfolioSegmentMember2021-12-310000707179onb:BlanketLienCollateralMemberonb:DirectPortfolioSegmentMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:DirectPortfolioSegmentMember2021-12-310000707179us-gaap:AutomobilesMemberonb:DirectPortfolioSegmentMember2021-12-310000707179onb:DirectPortfolioSegmentMemberonb:OtherCollateralMember2021-12-310000707179us-gaap:RealEstateMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:BlanketLienCollateralMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179us-gaap:AutomobilesMemberonb:HomeEquityPortfolioSegmentMember2021-12-310000707179onb:HomeEquityPortfolioSegmentMemberonb:OtherCollateralMember2021-12-310000707179us-gaap:RealEstateMember2021-12-310000707179onb:BlanketLienCollateralMember2021-12-310000707179onb:InvestmentSecuritiesAndCashCollateralMember2021-12-310000707179us-gaap:AutomobilesMember2021-12-310000707179onb:OtherCollateralMember2021-12-31onb:loan0000707179onb:TroubledDebtRestructuringsDuringPeriodMember2022-01-012022-09-300000707179onb:TroubledDebtRestructuringsDuringPeriodMember2021-01-012021-09-300000707179us-gaap:LandMember2022-09-300000707179us-gaap:LandMember2021-12-310000707179us-gaap:BuildingMember2022-09-300000707179us-gaap:BuildingMember2021-12-310000707179onb:FurnitureFixturesAndEquipmentMember2022-09-300000707179onb:FurnitureFixturesAndEquipmentMember2021-12-310000707179us-gaap:LeaseholdImprovementsMember2022-09-300000707179us-gaap:LeaseholdImprovementsMember2021-12-310000707179srt:MinimumMember2022-09-300000707179srt:MaximumMember2022-09-300000707179onb:OccupancyOrEquipmentExpenseMember2022-07-012022-09-300000707179onb:OccupancyOrEquipmentExpenseMember2021-07-012021-09-300000707179onb:OccupancyOrEquipmentExpenseMember2022-01-012022-09-300000707179onb:OccupancyOrEquipmentExpenseMember2021-01-012021-09-300000707179onb:OccupancyExpenseMember2022-07-012022-09-300000707179onb:OccupancyExpenseMember2021-07-012021-09-300000707179onb:OccupancyExpenseMember2022-01-012022-09-300000707179onb:OccupancyExpenseMember2021-01-012021-09-300000707179us-gaap:InterestExpenseMember2022-07-012022-09-300000707179us-gaap:InterestExpenseMember2021-07-012021-09-300000707179us-gaap:InterestExpenseMember2022-01-012022-09-300000707179us-gaap:InterestExpenseMember2021-01-012021-09-3000007071792022-08-312022-08-310000707179us-gaap:CoreDepositsMember2022-09-300000707179us-gaap:CustomerRelationshipsMember2022-09-300000707179us-gaap:CoreDepositsMember2021-12-310000707179us-gaap:CustomerRelationshipsMember2021-12-310000707179onb:CoreDepositsAndOtherIntangibleAssetsMembersrt:MinimumMember2022-01-012022-09-300000707179srt:MaximumMemberonb:CoreDepositsAndOtherIntangibleAssetsMember2022-01-012022-09-300000707179us-gaap:CoreDepositsMember2022-01-012022-09-300000707179us-gaap:CustomerRelationshipsMember2022-01-012022-09-3000007071792021-01-012021-12-310000707179onb:LowIncomeHousingTaxCreditsMember2022-09-300000707179onb:LowIncomeHousingTaxCreditsMember2021-12-310000707179onb:FederalHistoricTaxCreditsMember2022-09-300000707179onb:FederalHistoricTaxCreditsMember2021-12-310000707179onb:NewMarketsTaxCreditMember2022-09-300000707179onb:NewMarketsTaxCreditMember2021-12-310000707179us-gaap:RenewableEnergyProgramMember2022-09-300000707179us-gaap:RenewableEnergyProgramMember2021-12-310000707179onb:LowIncomeHousingTaxCreditsMember2022-07-012022-09-300000707179onb:FederalHistoricTaxCreditsMember2022-07-012022-09-300000707179onb:NewMarketsTaxCreditMember2022-07-012022-09-300000707179us-gaap:RenewableEnergyProgramMember2022-07-012022-09-300000707179onb:LowIncomeHousingTaxCreditsMember2021-07-012021-09-300000707179onb:FederalHistoricTaxCreditsMember2021-07-012021-09-300000707179onb:NewMarketsTaxCreditMember2021-07-012021-09-300000707179us-gaap:RenewableEnergyProgramMember2021-07-012021-09-300000707179onb:LowIncomeHousingTaxCreditsMember2022-01-012022-09-300000707179onb:FederalHistoricTaxCreditsMember2022-01-012022-09-300000707179onb:NewMarketsTaxCreditMember2022-01-012022-09-300000707179us-gaap:RenewableEnergyProgramMember2022-01-012022-09-300000707179onb:LowIncomeHousingTaxCreditsMember2021-01-012021-09-300000707179onb:FederalHistoricTaxCreditsMember2021-01-012021-09-300000707179onb:NewMarketsTaxCreditMember2021-01-012021-09-300000707179us-gaap:RenewableEnergyProgramMember2021-01-012021-09-300000707179us-gaap:MaturityOvernightMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:Maturity30To90DaysMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:MaturityOver90DaysMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:MaturityOvernightMember2022-09-300000707179us-gaap:MaturityUpTo30DaysMember2022-09-300000707179us-gaap:Maturity30To90DaysMember2022-09-300000707179us-gaap:MaturityOver90DaysMember2022-09-300000707179us-gaap:FederalHomeLoanBankAdvancesMembersrt:MinimumMember2022-09-300000707179us-gaap:FederalHomeLoanBankAdvancesMembersrt:MaximumMember2022-09-300000707179us-gaap:FederalHomeLoanBankAdvancesMember2022-09-300000707179srt:ParentCompanyMemberus-gaap:SeniorNotesMember2022-09-300000707179srt:ParentCompanyMemberus-gaap:SeniorNotesMember2021-12-310000707179us-gaap:SubordinatedDebtMember2022-09-300000707179srt:ParentCompanyMemberus-gaap:SubordinatedDebtMember2022-09-300000707179srt:ParentCompanyMemberus-gaap:SubordinatedDebtMember2021-12-310000707179srt:ParentCompanyMemberus-gaap:JuniorSubordinatedDebtMembersrt:MinimumMember2022-09-300000707179srt:ParentCompanyMembersrt:MaximumMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179srt:ParentCompanyMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179srt:ParentCompanyMemberus-gaap:JuniorSubordinatedDebtMember2021-12-310000707179srt:ParentCompanyMember2022-01-012022-09-300000707179srt:ParentCompanyMember2021-01-012021-12-310000707179onb:OldNationalBankMember2022-09-300000707179onb:OldNationalBankMember2021-12-310000707179onb:OldNationalBankMemberus-gaap:SubordinatedDebtMember2022-09-300000707179onb:OldNationalBankMemberus-gaap:SubordinatedDebtMember2021-12-310000707179onb:OldNationalBankMemberus-gaap:NotesPayableToBanksMembersrt:MinimumMember2022-09-300000707179onb:OldNationalBankMemberus-gaap:NotesPayableToBanksMembersrt:MaximumMember2022-09-300000707179onb:OldNationalBankMemberus-gaap:NotesPayableToBanksMember2022-09-300000707179onb:OldNationalBankMemberus-gaap:NotesPayableToBanksMember2021-12-310000707179onb:OldNationalBankMember2022-01-012022-09-300000707179onb:OldNationalBankMember2021-01-012021-12-310000707179srt:ParentCompanyMemberus-gaap:SeniorNotesMember2014-08-310000707179onb:TrustPreferredSecuritiesMemberonb:StJosephCapitalTrustIiMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:StJosephCapitalTrustIiMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:AnchorCapitalTrustIIIMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:AnchorCapitalTrustIIIMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMemberonb:HomeFederalStatutoryTrustIMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMemberonb:HomeFederalStatutoryTrustIMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMemberonb:MonroeBancorpCapitalTrustIMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMemberonb:MonroeBancorpCapitalTrustIMember2022-01-012022-09-300000707179onb:TowerCapitalTrustThreeMemberonb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TowerCapitalTrustThreeMemberonb:TrustPreferredSecuritiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:MonroeBancorpStatutoryTrustIiMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:MonroeBancorpStatutoryTrustIiMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:FirstMidwestCapitalTrustIMemberonb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:GreatLakesStatutoryTrustIIMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:GreatLakesStatutoryTrustIIMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:GreatLakesStatutoryTrustIIIMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:GreatLakesStatutoryTrustIIIMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:NorthernStatesStatutoryTrustIMemberonb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:NorthernStatesStatutoryTrustIMemberonb:TrustPreferredSecuritiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:BridgeviewCapitalTrustIMemberonb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:BridgeviewCapitalTrustIMemberonb:TrustPreferredSecuritiesMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:BridgeviewCapitalTrustIIMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:TrustPreferredSecuritiesMemberonb:BridgeviewCapitalTrustIIMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:JuniorSubordinatedDebtMember2022-01-012022-09-300000707179onb:TrustPreferredSecuritiesMemberus-gaap:JuniorSubordinatedDebtMember2022-09-300000707179onb:SubordinatedDebenturesMemberonb:SubordinatedFixedToFloatingNotesMemberonb:AnchorBankMnMember2017-11-010000707179us-gaap:LondonInterbankOfferedRateLIBORMemberonb:SubordinatedDebenturesMemberonb:SubordinatedFixedToFloatingNotesMemberonb:AnchorBankMnMember2017-11-012017-11-010000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-06-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2022-06-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-06-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-06-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-07-012022-09-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2022-07-012022-09-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-07-012022-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-07-012022-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-09-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2022-09-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-06-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-06-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-06-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-06-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-07-012021-09-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-07-012021-09-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-07-012021-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-07-012021-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-09-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-09-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-12-310000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-09-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2022-01-012022-09-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2020-12-310000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-09-300000707179onb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-01-012021-09-300000707179us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberonb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2022-07-012022-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberonb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-07-012021-09-300000707179us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000707179us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000707179us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberonb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2022-01-012022-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberonb:AccumulatedUnrealizedGainsLossesOnHeldToMaturitySecuritiesParentMember2021-01-012021-09-300000707179us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000707179us-gaap:InterestRateContractMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000707179us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000707179us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-3000007071792022-05-182022-05-180000707179us-gaap:RestrictedStockMember2022-01-012022-09-300000707179us-gaap:RestrictedStockMemberonb:FirstMidwestBancorpIncMember2022-02-152022-02-150000707179onb:CliffVestMember2022-01-012022-09-300000707179us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2022-01-012022-09-300000707179us-gaap:ShareBasedCompensationAwardTrancheTwoMemberus-gaap:RestrictedStockMember2022-01-012022-09-300000707179us-gaap:RestrictedStockMember2022-09-300000707179us-gaap:RestrictedStockMember2022-07-012022-09-300000707179us-gaap:RestrictedStockMember2021-07-012021-09-300000707179us-gaap:RestrictedStockMember2021-01-012021-09-300000707179us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-09-300000707179onb:FirstMidwestBancorpIncMemberus-gaap:RestrictedStockUnitsRSUMember2022-02-152022-02-150000707179us-gaap:RestrictedStockUnitsRSUMembersrt:MinimumMember2022-01-012022-09-300000707179us-gaap:RestrictedStockUnitsRSUMembersrt:MaximumMember2022-01-012022-09-300000707179us-gaap:RestrictedStockUnitsRSUMember2022-09-300000707179us-gaap:RestrictedStockUnitsRSUMember2022-07-012022-09-300000707179us-gaap:RestrictedStockUnitsRSUMember2021-07-012021-09-300000707179us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-09-300000707179srt:ParentCompanyMemberus-gaap:EmployeeStockOptionMember2022-01-012022-09-300000707179us-gaap:StockAppreciationRightsSARSMembersrt:ParentCompanyMember2022-09-300000707179us-gaap:DomesticCountryMember2022-09-300000707179us-gaap:DomesticCountryMember2021-12-310000707179us-gaap:StateAndLocalJurisdictionMember2022-09-300000707179us-gaap:StateAndLocalJurisdictionMember2021-12-310000707179us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberonb:VariableInterestRateSwapBorrowingsMember2022-09-300000707179us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberonb:VariableInterestRateSwapBorrowingsMember2021-12-310000707179us-gaap:DesignatedAsHedgingInstrumentMemberonb:VariableInterestRateCollarsAndFloorsMemberus-gaap:CashFlowHedgingMember2022-09-300000707179us-gaap:DesignatedAsHedgingInstrumentMemberonb:VariableInterestRateCollarsAndFloorsMemberus-gaap:CashFlowHedgingMember2021-12-310000707179us-gaap:DesignatedAsHedgingInstrumentMemberonb:VariableInterestRateSwapBorrowingsMemberus-gaap:FairValueHedgingMember2022-09-300000707179us-gaap:DesignatedAsHedgingInstrumentMemberonb:VariableInterestRateSwapBorrowingsMemberus-gaap:FairValueHedgingMember2021-12-310000707179us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberonb:VariableInterestRateSwapAvailableForSaleInvestmentSecuritiesMember2022-09-300000707179us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberonb:VariableInterestRateSwapAvailableForSaleInvestmentSecuritiesMember2021-12-310000707179us-gaap:DesignatedAsHedgingInstrumentMember2022-09-300000707179us-gaap:DesignatedAsHedgingInstrumentMember2021-12-310000707179onb:VariableInterestRateSwapBorrowingsMemberus-gaap:FairValueHedgingMember2022-07-012022-09-300000707179us-gaap:FairValueHedgingMemberonb:VariableInterestRateSwapAvailableForSaleInvestmentSecuritiesMember2022-07-012022-09-300000707179us-gaap:FairValueHedgingMember2022-07-012022-09-300000707179onb:VariableInterestRateSwapBorrowingsMemberus-gaap:FairValueHedgingMember2021-07-012021-09-300000707179us-gaap:FairValueHedgingMemberonb:VariableInterestRateSwapAvailableForSaleInvestmentSecuritiesMember2021-07-012021-09-300000707179us-gaap:FairValueHedgingMember2021-07-012021-09-300000707179onb:VariableInterestRateSwapBorrowingsMemberus-gaap:FairValueHedgingMember2022-01-012022-09-300000707179us-gaap:FairValueHedgingMemberonb:VariableInterestRateSwapAvailableForSaleInvestmentSecuritiesMember2022-01-012022-09-300000707179us-gaap:FairValueHedgingMember2022-01-012022-09-300000707179onb:VariableInterestRateSwapBorrowingsMemberus-gaap:FairValueHedgingMember2021-01-012021-09-300000707179us-gaap:FairValueHedgingMemberonb:VariableInterestRateSwapAvailableForSaleInvestmentSecuritiesMember2021-01-012021-09-300000707179us-gaap:FairValueHedgingMember2021-01-012021-09-300000707179us-gaap:InterestRateContractMember2022-07-012022-09-300000707179us-gaap:InterestRateContractMember2021-07-012021-09-300000707179us-gaap:InterestRateContractMember2022-01-012022-09-300000707179us-gaap:InterestRateContractMember2021-01-012021-09-300000707179us-gaap:InterestIncomeMember2022-09-300000707179us-gaap:InterestExpenseMember2022-09-300000707179us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2022-09-300000707179us-gaap:NondesignatedMemberonb:ForwardCommitmentsMember2022-09-300000707179us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2021-12-310000707179us-gaap:NondesignatedMemberonb:ForwardCommitmentsMember2021-12-310000707179us-gaap:NondesignatedMemberonb:CustomerDerivativeInstrumentMember2022-09-300000707179us-gaap:NondesignatedMemberonb:OffsettingCounterPartyDerivativeInstrumentMember2022-09-300000707179us-gaap:NondesignatedMemberonb:OffsettingCounterPartyDerivativeInstrumentMember2021-12-310000707179us-gaap:NondesignatedMemberonb:CustomerDerivativeInstrumentMember2021-12-310000707179us-gaap:NondesignatedMemberonb:CustomerForeignExchangeForwardMember2022-09-300000707179us-gaap:NondesignatedMemberonb:CustomerForeignExchangeForwardMember2021-12-310000707179onb:CounterpartyForeignExchangeForwardMemberus-gaap:NondesignatedMember2022-09-300000707179onb:CounterpartyForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-12-310000707179us-gaap:NondesignatedMember2022-09-300000707179us-gaap:NondesignatedMember2021-12-310000707179us-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2022-07-012022-09-300000707179us-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2021-07-012021-09-300000707179us-gaap:NondesignatedMemberonb:MortgageContractMember2022-07-012022-09-300000707179us-gaap:NondesignatedMemberonb:MortgageContractMember2021-07-012021-09-300000707179us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-07-012022-09-300000707179us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300000707179us-gaap:NondesignatedMember2022-07-012022-09-300000707179us-gaap:NondesignatedMember2021-07-012021-09-300000707179us-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2022-01-012022-09-300000707179us-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2021-01-012021-09-300000707179us-gaap:NondesignatedMemberonb:MortgageContractMember2022-01-012022-09-300000707179us-gaap:NondesignatedMemberonb:MortgageContractMember2021-01-012021-09-300000707179us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-01-012022-09-300000707179us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300000707179us-gaap:NondesignatedMember2022-01-012022-09-300000707179us-gaap:NondesignatedMember2021-01-012021-09-300000707179us-gaap:InterestRateSwapMember2022-09-300000707179us-gaap:InterestRateSwapMember2021-12-310000707179onb:ClassBRestrictedSharesMemberonb:VisaIncMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2022-06-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2022-07-012022-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2021-06-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2021-07-012021-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2021-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2022-01-012022-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2020-12-310000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2021-01-012021-09-300000707179onb:PooledTrustPreferredSecuritiesMember2022-01-012022-09-300000707179us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDefaultRateMemberonb:PooledTrustPreferredSecuritiesMembersrt:MinimumMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDefaultRateMembersrt:MaximumMemberonb:PooledTrustPreferredSecuritiesMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDefaultRateMemberonb:PooledTrustPreferredSecuritiesMembersrt:WeightedAverageMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMembersrt:MinimumMemberonb:MeasurementInputExpectedAssetRecoveriesMember2021-12-310000707179us-gaap:FairValueInputsLevel3Membersrt:MaximumMemberonb:PooledTrustPreferredSecuritiesMemberonb:MeasurementInputExpectedAssetRecoveriesMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberonb:PooledTrustPreferredSecuritiesMembersrt:WeightedAverageMemberonb:MeasurementInputExpectedAssetRecoveriesMember2021-12-310000707179onb:PooledTrustPreferredSecuritiesMembersrt:MinimumMember2022-01-012022-09-300000707179srt:MedianMemberonb:PooledTrustPreferredSecuritiesMember2022-01-012022-09-300000707179srt:MaximumMemberonb:PooledTrustPreferredSecuritiesMember2022-01-012022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:CommercialForeclosedAssetsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179onb:CommercialForeclosedAssetsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179onb:CommercialForeclosedAssetsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179onb:CommercialForeclosedAssetsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179onb:ImpairedCommercialAndCommercialRealEstateLoansMember2022-09-300000707179onb:ImpairedCommercialAndCommercialRealEstateLoansMember2022-07-012022-09-300000707179onb:ImpairedCommercialAndCommercialRealEstateLoansMember2022-01-012022-09-300000707179onb:ImpairedCommercialAndCommercialRealEstateLoansMember2021-07-012021-09-300000707179onb:ImpairedCommercialAndCommercialRealEstateLoansMember2021-01-012021-09-300000707179us-gaap:FairValueMeasurementsNonrecurringMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:LoanServicingRightsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179onb:LoanServicingRightsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179onb:LoanServicingRightsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179onb:LoanServicingRightsMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179onb:ImpairedCommercialAndCommercialRealEstateLoansMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Member2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:ForeclosedAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberonb:ForeclosedAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Member2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberonb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000707179onb:CollateralDependentImpairedLoansMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000707179onb:ResidentialLoansHeldForSaleMember2022-09-300000707179onb:ResidentialLoansHeldForSaleMember2021-12-310000707179onb:ResidentialLoansHeldForSaleMember2022-07-012022-09-300000707179onb:ResidentialLoansHeldForSaleMember2021-07-012021-09-300000707179onb:ResidentialLoansHeldForSaleMember2022-01-012022-09-300000707179onb:ResidentialLoansHeldForSaleMember2021-01-012021-09-300000707179us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-09-300000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2022-09-300000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ConsumerPortfolioSegmentMember2022-09-300000707179us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000707179us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000707179us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000707179us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000707179us-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| | | | | |
☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2022
or
| | | | | |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ____________ to ____________
Commission File Number 001-15817
Old National Bancorp
(Exact name of registrant as specified in its charter)
| | | | | | | | | | | |
Indiana | 35-1539838 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| | | |
One Main Street | 47708 |
Evansville, | | Indiana | (Zip Code) |
(Address of principal executive offices) | |
(800) 731-2265
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | | | | | | | | | | | | | | | |
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common stock, no par value | | ONB | | The | NASDAQ | Stock Market LLC |
Depositary Shares, each representing a 1/40th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A | | ONBPP | | The | NASDAQ | Stock Market LLC |
Depositary Shares, each representing a 1/40th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series C | | ONBPO | | The | NASDAQ | Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| | | | | | | | | | | | | | | | | | | | |
Large accelerated filer | | ☑ | | Accelerated filer | | ☐ |
Non-accelerated filer | | ☐ | | Smaller reporting company | | ☐ |
Emerging growth company | | ☐ | | | | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑
The registrant has one class of common stock (no par value) with 292,890,000 shares outstanding at October 31, 2022.
OLD NATIONAL BANCORP
FORM 10-Q
TABLE OF CONTENTS | | | | | | | | | | | |
| | Page |
PART I. | | |
Item 1. | | |
| | |
| | |
| | |
| | |
| | |
| | |
| Note 1. | | |
| Note 2. | | |
| Note 3. | | |
| Note 4. | | |
| Note 5. | | |
| Note 6. | | |
| Note 7. | | |
| Note 8. | | |
| Note 9. | | |
| Note 10. | | |
| Note 11. | | |
| Note 12. | | |
| Note 13. | | |
| Note 14. | | |
| Note 15. | | |
| Note 16. | | |
| Note 17. | | |
| Note 18. | | |
| Note 19. | | |
| Note 20. | | |
Item 2. | | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
Item 3. | | |
Item 4. | | |
PART II. | | |
Item 1A. | | |
Item 2. | | |
Item 5. | | |
Item 6. | | |
| |
GLOSSARY OF ABBREVIATIONS AND ACRONYMS
As used in this report, references to “Old National,” “we,” “our,” “us,” and similar terms refer to the consolidated entity consisting of Old National Bancorp and its wholly-owned affiliates. Old National Bancorp refers solely to the parent holding company, and Old National Bank refers to Old National Bancorp’s bank subsidiary.
The acronyms and abbreviations identified below are used in the Notes to Consolidated Financial Statements (Unaudited) as well as in the Management’s Discussion and Analysis of Financial Condition and Results of Operations. You may find it helpful to refer to this page as you read this report.
Anchor (MN): Anchor Bancorp, Inc.
Anchor (WI): Anchor BanCorp Wisconsin Inc.
AOCI: accumulated other comprehensive income (loss)
AQR: asset quality rating
ASC: Accounting Standards Codification
ASU: Accounting Standards Update
ATM: automated teller machine
BBCC: business banking credit center (small business)
CECL: current expected credit loss
Common Stock: Old National Bancorp common stock, no par value
COVID-19: coronavirus disease 2019
DTI: debt-to-income
FASB: Financial Accounting Standards Board
FDIC: Federal Deposit Insurance Corporation
FHLB: Federal Home Loan Bank
FHTC: Federal Historic Tax Credit
FICO: Fair Isaac Corporation
First Midwest: First Midwest Bancorp, Inc.
GAAP: U.S. generally accepted accounting principles
LGD: loss given default
LIBOR: London Interbank Offered Rate
LIHTC: Low Income Housing Tax Credit
LTV: loan-to-value
N/A: not applicable
NASDAQ: The NASDAQ Stock Market LLC
N/M: not meaningful
NMTC: New Markets Tax Credit
NOW: negotiable order of withdrawal
OCC: Office of the Comptroller of the Currency
PCD: purchased credit deteriorated
PD: probability of default
PPP: Paycheck Protection Program
Renewable Energy: investment tax credits for solar projects
SBA: Small Business Administration
SEC: Securities and Exchange Commission
TBA: to be announced
TDR: troubled debt restructuring
OLD NATIONAL BANCORP
CONSOLIDATED BALANCE SHEETS | | | | | | | | | | | |
(dollars and shares in thousands, except per share data) | September 30, 2022 | | December 31, 2021 |
| (unaudited) | | |
Assets | | | |
Cash and due from banks | $ | 466,846 | | | $ | 172,663 | |
Money market and other interest-earning investments | 334,765 | | | 649,356 | |
Total cash and cash equivalents | 801,611 | | | 822,019 | |
Equity securities, at fair value | 51,846 | | | 13,211 | |
Investment securities - available-for-sale, at fair value: | | | |
U.S. Treasury | 193,605 | | | 235,584 | |
U.S. government-sponsored entities and agencies | 1,175,457 | | | 1,542,773 | |
Mortgage-backed securities | 4,459,527 | | | 3,698,831 | |
States and political subdivisions | 675,047 | | | 1,654,986 | |
Other securities | 359,344 | | | 249,892 | |
Total investment securities - available-for-sale | 6,862,980 | | | 7,382,066 | |
Investment securities - held-to-maturity, at amortized cost (fair value $2,600,440 and $0, respectively) | 3,096,567 | | | — | |
Federal Home Loan Bank/Federal Reserve Bank stock, at cost | 282,263 | | | 169,375 | |
Loans held for sale, at fair value | 19,748 | | | 35,458 | |
Loans: | | | |
Commercial | 9,311,148 | | | 3,391,769 | |
Commercial real estate | 12,227,888 | | | 6,380,674 | |
Residential real estate | 6,267,306 | | | 2,255,289 | |
Consumer credit, net of unearned income | 2,722,591 | | | 1,574,114 | |
Total loans | 30,528,933 | | | 13,601,846 | |
Allowance for credit losses | (302,254) | | | (107,341) | |
Net loans | 30,226,679 | | | 13,494,505 | |
Premises and equipment, net | 588,021 | | | 476,186 | |
Operating lease right-of-use assets | 187,626 | | | 69,560 | |
Accrued interest receivable | 166,699 | | | 84,109 | |
Goodwill | 2,002,599 | | | 1,036,994 | |
Other intangible assets | 133,193 | | | 34,678 | |
Company-owned life insurance | 767,089 | | | 463,324 | |
Other assets | 1,028,605 | | | 372,079 | |
Total assets | $ | 46,215,526 | | | $ | 24,453,564 | |
Liabilities | | | |
Deposits: | | | |
Noninterest-bearing demand | $ | 12,400,077 | | | $ | 6,303,106 | |
Interest-bearing: | | | |
Checking and NOW | 8,963,014 | | | 5,338,022 | |
Savings | 6,616,512 | | | 3,798,494 | |
Money market | 5,602,729 | | | 2,169,160 | |
Time deposits | 2,471,331 | | | 960,413 | |
Total deposits | 36,053,663 | | | 18,569,195 | |
Federal funds purchased and interbank borrowings | 301,031 | | | 276 | |
Securities sold under agreements to repurchase | 438,053 | | | 392,275 | |
Federal Home Loan Bank advances | 2,804,617 | | | 1,886,019 | |
Other borrowings | 721,049 | | | 296,670 | |
Operating lease liabilities | 207,725 | | | 76,236 | |
Accrued expenses and other liabilities | 746,005 | | | 220,875 | |
Total liabilities | 41,272,143 | | | 21,441,546 | |
Shareholders' Equity | | | |
Preferred stock, 2,000 shares authorized, 231 and 0 shares issued and outstanding, respectively | 230,500 | | | — | |
Common stock, $1.00 per share stated value, 600,000 shares authorized, 292,880 and 165,838 shares issued and outstanding, respectively | 292,880 | | | 165,838 | |
Capital surplus | 4,166,583 | | | 1,880,545 | |
Retained earnings | 1,061,870 | | | 968,010 | |
Accumulated other comprehensive income (loss), net of tax | (808,450) | | | (2,375) | |
Total shareholders' equity | 4,943,383 | | | 3,012,018 | |
Total liabilities and shareholders' equity | $ | 46,215,526 | | | $ | 24,453,564 | |
The accompanying notes to consolidated financial statements are an integral part of these statements.
OLD NATIONAL BANCORP
CONSOLIDATED STATEMENTS OF INCOME (unaudited) | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, | | Nine Months Ended September 30, |
(dollars and shares in thousands, except per share data) | 2022 | | 2021 | | 2022 | | 2021 |
Interest Income | | | | | | | |
Loans including fees: | | | | | | | |
Taxable | $ | 331,271 | | | $ | 124,488 | | | $ | 800,535 | | | $ | 370,594 | |
Nontaxable | 6,461 | | | 3,119 | | | 14,770 | | | 9,647 | |
Investment securities: | | | | | | | |
Taxable | 56,765 | | | 24,773 | | | 145,633 | | | 73,305 | |
Nontaxable | 11,086 | | | 9,469 | | | 32,370 | | | 27,862 | |
Money market and other interest-earning investments | 935 | | | 177 | | | 3,073 | | | 313 | |
Total interest income | 406,518 | | | 162,026 | | | 996,381 | | | 481,721 | |
Interest Expense | | | | | | | |
Deposits | 10,820 | | | 2,578 | | | 19,201 | | | 8,469 | |
Federal funds purchased and interbank borrowings | 720 | | | — | | | 722 | | | — | |
Securities sold under agreements to repurchase | 106 | | | 90 | | | 287 | | | 305 | |
Federal Home Loan Bank advances | 13,027 | | | 5,326 | | | 25,915 | | | 15,953 | |
Other borrowings | 5,256 | | | 2,460 | | | 13,410 | | | 7,375 | |
Total interest expense | 29,929 | | | 10,454 | | | 59,535 | | | 32,102 | |
Net interest income | 376,589 | | | 151,572 | | | 936,846 | | | 449,619 | |
Provision for credit losses | 11,287 | | | (4,613) | | | 118,101 | | | (26,898) | |
Net interest income after provision for credit losses | 365,302 | | | 156,185 | | | 818,745 | | | 476,517 | |
Noninterest Income | | | | | | | |
Wealth management fees | 17,317 | | | 10,134 | | | 51,251 | | | 30,576 | |
Service charges on deposit accounts | 20,042 | | | 8,123 | | | 54,392 | | | 23,270 | |
Debit card and ATM fees | 10,608 | | | 5,745 | | | 29,429 | | | 17,962 | |
Mortgage banking revenue | 5,360 | | | 10,870 | | | 19,127 | | | 35,222 | |
Investment product fees | 8,042 | | | 6,475 | | | 23,932 | | | 18,381 | |
Capital markets income | 8,906 | | | 6,017 | | | 20,609 | | | 15,603 | |
Company-owned life insurance | 3,361 | | | 2,355 | | | 11,456 | | | 7,852 | |
Debt securities gains (losses), net | (172) | | | 1,207 | | | 85 | | | 3,892 | |
Other income | 6,921 | | | 3,589 | | | 24,461 | | | 9,977 | |
Total noninterest income | 80,385 | | | 54,515 | | | 234,742 | | | 162,735 | |
Noninterest Expense | | | | | | | |
Salaries and employee benefits | 147,203 | | | 71,005 | | | 433,167 | | | 211,762 | |
Occupancy | 26,418 | | | 12,757 | | | 73,933 | | | 41,683 | |
Equipment | 7,328 | | | 3,756 | | | 20,046 | | | 12,231 | |
Marketing | 10,361 | | | 3,267 | | | 23,756 | | | 7,961 | |
Data processing | 20,269 | | | 11,508 | | | 64,914 | | | 35,558 | |
Communication | 5,392 | | | 2,372 | | | 14,687 | | | 7,661 | |
Professional fees | 6,559 | | | 3,416 | | | 32,686 | | | 14,668 | |
FDIC assessment | 6,249 | | | 1,628 | | | 13,523 | | | 4,461 | |
Amortization of intangibles | 7,089 | | | 2,779 | | | 19,070 | | | 8,763 | |
Amortization of tax credit investments | 2,662 | | | 1,736 | | | 5,703 | | | 4,751 | |
Other expense | 27,117 | | | 7,050 | | | 69,313 | | | 19,133 | |
Total noninterest expense | 266,647 | | | 121,274 | | | 770,798 | | | 368,632 | |
Income before income taxes | 179,040 | | | 89,426 | | | 282,689 | | | 270,620 | |
Income tax expense | 38,887 | | | 17,680 | | | 55,137 | | | 49,270 | |
Net income | 140,153 | | | 71,746 | | | 227,552 | | | 221,350 | |
Preferred dividends | (4,034) | | | — | | | (10,084) | | | — | |
| | | | | | | |
Net income applicable to common shareholders | $ | 136,119 | | | $ | 71,746 | | | $ | 217,468 | | | $ | 221,350 | |
Net income per common share - basic | $ | 0.47 | | | $ | 0.43 | | | $ | 0.81 | | | $ | 1.34 | |
Net income per common share - diluted | 0.47 | | | 0.43 | | | 0.80 | | | 1.33 | |
Weighted average number of common shares outstanding - basic | 290,961 | | | 165,258 | | | 269,843 | | | 165,144 | |
Weighted average number of common shares outstanding - diluted | 292,483 | | | 165,939 | | | 271,123 | | | 165,862 | |
Dividends per common share | $ | 0.14 | | | $ | 0.14 | | | $ | 0.42 | | | $ | 0.42 | |
The accompanying notes to consolidated financial statements are an integral part of these statements.
OLD NATIONAL BANCORP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, | Nine Months Ended September 30, |
(dollars in thousands) | 2022 | | 2021 | 2022 | | 2021 |
Net income | $ | 140,153 | | | $ | 71,746 | | $ | 227,552 | | | $ | 221,350 | |
| | | | | | |
Other comprehensive income (loss): | | | | | | |
| | | | | | |
Change in debt securities available-for-sale: | | | | | | |
Unrealized holding gains (losses) for the period | (285,798) | | | (3,595) | | (1,019,782) | | | (112,927) | |
Reclassification for securities transferred to held-to-maturity | — | | | — | | 165,473 | | | — | |
Reclassification adjustment for securities (gains) losses realized in income | 172 | | | (1,207) | | (85) | | | (3,892) | |
Income tax effect | 68,356 | | | 627 | | 202,999 | | | 26,404 | |
Unrealized gains (losses) on available-for-sale securities | (217,270) | | | (4,175) | | (651,395) | | | (90,415) | |