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ONB 2019-06-30

Note 1 - Basis of Presentation

Note 2 - Recent Accounting Pronouncements

Note 3 - Acquisition and Divestiture Activity

Note 4 - Net Income per Share

Note 5 - Investment Securities

Note 6 - Loans Held for Sale

Note 7 - Loans and Allowance for Loan Losses

Note 8 - Other Real Estate Owned

Note 9 - Premises and Equipment

Note 10 - Leases

Note 11 - Goodwill and Other Intangible Assets

Note 12 - Loan Servicing Rights

Note 13 - Qualified Affordable Housing Projects and Other Tax Credit Investments

Note 14 - Securities Sold Under Agreements To Repurchase

Note 15 - Federal Home Loan Bank Advances

Note 16 - Other Borrowings

Note 17 - Accumulated Other Comprehensive Income (Loss)

Note 18 - Share-Based Compensation

Note 19 - Income Taxes

Note 20 - Derivative Financial Instruments

Note 21 - Commitments and Contingencies

Note 22 - Financial Guarantees

Note 23 - Segment Information

Note 24 - Fair Value

Note 25 - Revenue From Contracts with Customers

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 3. Quantitive and Qualitative Disclosures About Market Risk

Item 4. Controls and Procedures

Part II

Item 1A. Risk Factors

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 5. Other Information

Item 6. Exhibits

EX-31.1	onb-ex311_8.htm
EX-31.2	onb-ex312_6.htm
EX-32.1	onb-ex321_9.htm
EX-32.2	onb-ex322_7.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

For the quarterly period ended June 30, 2019

For the transition period from ____________ to ____________

Commission File Number 1-15817

 

OLD NATIONAL BANCORP

(Exact name of Registrant as specified in its charter)

 

 

 

(800) 731-2265

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

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 the filing requirements for at least 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 (s232.405 of this chapter) during the preceding 12 months (or for 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.

 

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 Act).    Yes  ☐    No  ☑

Indicate the number of shares outstanding of each of the issuer’s classes of common stock.  The registrant has one class of common stock (no par value) with 172,231,000 shares outstanding at June 30, 2019.

 

 

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OLD NATIONAL BANCORP

FORM 10-Q

TABLE OF CONTENTS

 

 

 

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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’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 Bank (MN):  Anchor Bank, N.A.

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

Common Stock:  Old National Bancorp common stock, without par value

CReED:  Indiana Community Revitalization Enhancement District Tax Credit

DTI:  debt-to-income

EITF:  Emerging Issues Task Force

FASB:  Financial Accounting Standards Board

FDIC:  Federal Deposit Insurance Corporation

FHLB:  Federal Home Loan Bank

FHTC:  Federal Historic Tax Credit

FICO:  Fair Isaac Corporation

GAAP:  U.S. generally accepted accounting principles

Klein:  Klein Financial, Inc.

LGD:  loss given default

LIBOR:  London Interbank Offered Rate

LIHTC:  Low Income Housing Tax Credit

LTV:  loan-to-value

N/A:  not applicable

N/M:  not meaningful

NASDAQ:  The NASDAQ Stock Market LLC

NOW:  negotiable order of withdrawal

OTTI:  other-than-temporary impairment

PCI:  purchased credit impaired

PD:  probability of default

PSA:  prepayment speed assumptions

Renewable Energy:  investment tax credits for solar projects

SAB:  Staff Accounting Bulletin

SEC:  Securities and Exchange Commission

TBA:  to be announced

TDR:  troubled debt restructuring

 

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OLD NATIONAL BANCORP

CONSOLIDATED BALANCE SHEETS