Other Borrowings (Tables)

3 Months Ended

Mar. 31, 2023

Other Liabilities Disclosure [Abstract]

Summary of Other Borrowings

The following table summarizes Old National’s other borrowings:

(dollars in thousands)	March 31, 2023		December 31, 2022
Old National Bancorp:
Senior unsecured notes (fixed rate 4.125%) maturing August 2024	$	175,000	$	175,000
Unamortized debt issuance costs related to senior unsecured notes	(208)		(247)
Subordinated debentures (fixed rate 5.875%) maturing September 2026	150,000		150,000
Junior subordinated debentures (variable rates of    6.27% to 8.41%) maturing July 2031 to September 2037	136,643		136,643
Other basis adjustments	22,073		23,363
Old National Bank:
Finance lease liabilities	21,983		13,469
Subordinated debentures (variable rate 9.16%) maturing October 2025	12,000		12,000
Leveraged loans for NMTC (fixed rates of 1.00% to 1.43%)    maturing December 2046 to June 2060	143,745		143,187
Other (1)	85,633		89,588
Total other borrowings	$	746,869	$	743,003

(1)Includes overnight borrowings to collateralize certain derivative positions totaling $84.4 million at March 31, 2023 and $88.0 million at December 31, 2022.

The following table summarizes the terms of our outstanding junior subordinated debentures at March 31, 2023:

(dollars in thousands)					Rate at March 31, 2023
Name of Trust	Issuance Date	Issuance Amount		Rate		Maturity Date
Bridgeview Statutory Trust I	July 2001	$	15,464	3-month LIBOR plus 3.58%	8.41%	July 31, 2031
Bridgeview Capital Trust II	December 2002	15,464		3-month LIBOR plus 3.35%	8.18%	January 7, 2033
First Midwest Capital Trust I	November 2003	37,825		6.95% fixed	6.95%	December 1, 2033
St. Joseph Capital Trust II	March 2005	5,155		3-month LIBOR plus 1.75%	6.66%	March 17, 2035
Northern States Statutory Trust I	September 2005	10,310		3-month LIBOR plus 1.80%	6.67%	September 15, 2035
Anchor Capital Trust III	August 2005	5,000		3-month LIBOR plus 1.55%	6.71%	September 30, 2035
Great Lakes Statutory Trust II	December 2005	6,186		3-month LIBOR plus 1.40%	6.27%	December 15, 2035
Home Federal Statutory    Trust I	September 2006	15,464		3-month LIBOR plus 1.65%	6.52%	September 15, 2036
Monroe Bancorp Capital    Trust I	July 2006	3,093		3-month LIBOR plus 1.60%	6.43%	October 7, 2036
Tower Capital Trust 3	December 2006	9,279		3-month LIBOR plus 1.69%	6.65%	March 1, 2037
Monroe Bancorp Statutory    Trust II	March 2007	5,155		3-month LIBOR plus 1.60%	6.47%	June 15, 2037
Great Lakes Statutory Trust III	June 2007	8,248		3-month LIBOR plus 1.70%	6.57%	September 15, 2037
Total		$	136,643

The following table summarizes Old National Bank’s unfunded loan commitments and standby letters of credit:

(dollars in thousands)	March 31, 2023		December 31, 2022
Unfunded loan commitments	$	9,386,866	$	8,979,334
Standby letters of credit (1)	181,476		174,070

(1)Notional amount, which represents the maximum amount of future funding requirements. The carrying value was $0.9 million at March 31, 2023 and $0.8 million at December 31, 2022.

Summary of Contractual Maturities of Other Borrowings

Contractual maturities of other borrowings at March 31, 2023 were as follows:

(dollars in thousands)
Due in 2023	$	86,291
Due in 2024	177,609
Due in 2025	14,696
Due in 2026	151,529
Due in 2027	1,587
Thereafter	292,059
Unamortized debt issuance costs and other basis adjustments	23,098
Total	$	746,869