Stock-Based Compensation	6 Months Ended
Jun. 30, 2011
Stock-Based Compensation
Stock-Based Compensation	NOTE 13 - STOCK-BASED COMPENSATION During May 2008, shareholders approved the Company's 2008 Incentive Compensation Plan which authorizes up to a maximum of 1.0 million shares plus certain shares covered under the 1999 Equity Incentive Plan. At June 30, 2011, 2.5 million shares remained available for issuance. The granting of awards to key employees is typically in the form of restricted stock or options to purchase common shares of stock. Stock Options The Company did not grant any stock options during the first six months of 2011. Old National recorded $41 thousand of stock based compensation expense, net of tax, during the first six months of 2011 as compared to $86 thousand for the first six months of 2010. In connection with the acquisition of Monroe Bancorp on January 1, 2011, 0.3 million options for shares of Monroe Bancorp stock were converted to 0.3 million options for shares of Old National Bancorp stock. Old National recorded no incremental expense associated with the conversion of these options. Restricted Stock Awards The Company granted 119 thousand time-based restricted stock awards to certain key officers during 2011, with shares vesting in either eighteen or thirty-six month periods. Compensation expense is recognized on a straight-line basis over the vesting period. Shares are subject to certain restrictions and risk of forfeiture by the participants. As of June 30, 2011, unrecognized compensation expense was estimated to be $2.2 million for unvested restricted share awards. Old National recorded expense of $0.4 million, net of tax benefit, during the first six months of 2011, compared to expense of $0.4 million during the first six months of 2010 related to the vesting of restricted share awards. Included in the first six months of 2010 is the reversal of $0.1 million of expense associated with certain performance-based restricted stock grants. Restricted Stock Units The Company granted 156 thousand shares of performance based restricted stock units to certain key officers during 2011, with shares vesting at the end of a thirty-six month period based on the achievement of certain targets. Compensation expense is recognized on a straight-line basis over the vesting period. Shares are subject to certain restrictions and risk of forfeiture by the participants. In addition, certain of the restricted stock units are subject to relative performance factors which could increase or decrease the percentage of shares issued. Old National recorded $0.4 million of stock based compensation expense, net of tax, during the first six months of 2011. Old National recorded $0.3 million of stock based compensation expense, net of tax, during the first six months of 2010. Included in the first six months of 2011 is the reversal of $13 thousand of expense associated with certain performance-based restricted stock grants.

NOTE 13 - STOCK-BASED COMPENSATION

During May 2008, shareholders approved the Company's 2008 Incentive Compensation Plan which authorizes up to a maximum of 1.0 million shares plus certain shares covered under the 1999 Equity Incentive Plan. At June 30, 2011, 2.5 million shares remained available for issuance. The granting of awards to key employees is typically in the form of restricted stock or options to purchase common shares of stock.

Stock Options

The Company did not grant any stock options during the first six months of 2011. Old National recorded $41 thousand of stock based compensation expense, net of tax, during the first six months of 2011 as compared to $86 thousand for the first six months of 2010.

In connection with the acquisition of Monroe Bancorp on January 1, 2011, 0.3 million options for shares of Monroe Bancorp stock were converted to 0.3 million options for shares of Old National Bancorp stock. Old National recorded no incremental expense associated with the conversion of these options.

Restricted Stock Awards

The Company granted 119 thousand time-based restricted stock awards to certain key officers during 2011, with shares vesting in either eighteen or thirty-six month periods. Compensation expense is recognized on a straight-line basis over the vesting period. Shares are subject to certain restrictions and risk of forfeiture by the participants. As of June 30, 2011, unrecognized compensation expense was estimated to be $2.2 million for unvested restricted share awards.

Old National recorded expense of $0.4 million, net of tax benefit, during the first six months of 2011, compared to expense of $0.4 million during the first six months of 2010 related to the vesting of restricted share awards. Included in the first six months of 2010 is the reversal of $0.1 million of expense associated with certain performance-based restricted stock grants.

Restricted Stock Units

The Company granted 156 thousand shares of performance based restricted stock units to certain key officers during 2011, with shares vesting at the end of a thirty-six month period based on the achievement of certain targets. Compensation expense is recognized on a straight-line basis over the vesting period. Shares are subject to certain restrictions and risk of forfeiture by the participants. In addition, certain of the restricted stock units are subject to relative performance factors which could increase or decrease the percentage of shares issued.

Old National recorded $0.4 million of stock based compensation expense, net of tax, during the first six months of 2011. Old National recorded $0.3 million of stock based compensation expense, net of tax, during the first six months of 2010. Included in the first six months of 2011 is the reversal of $13 thousand of expense associated with certain performance-based restricted stock grants.