Short-Term Borrowings

12 Months Ended

Dec. 31, 2011

Short-Term Borrowings [Abstract]

Short-Term Borrowings

NOTE 10 - SHORT-TERM BORROWINGS

The following table presents the distribution of Old National's short-term borrowings and related weighted-average interest rates for each of the years ended December 31:

								Other
		Federal Funds			Repurchase			Short-term
(dollars in thousands)		Purchased			Agreements			Borrowings			Total
2011
Outstanding at year-end	$	103,010		$	321,725		$	114		$	424,849
Average amount outstanding		14,302			340,053			9,268			363,623
Maximum amount outstanding at
any month-end		103,010			366,915			11,336
Weighted average interest rate:
During year		0.09	%		0.15	%		0.17	%		0.15	%
End of year		0.12			0.31			0.04			0.26
2010
Outstanding at year-end	$	1,663		$	287,414		$	9,155		$	298,232
Average amount outstanding		7,012			312,773			8,750			328,535
Maximum amount outstanding at
any month-end		41,365			348,403			10,423
Weighted average interest rate:
During year		0.18	%		0.17	%		1.27	%		0.20	%
End of year		0			0.16			0			0.16

Other Short-term Borrowings

Line of Credit

During the second quarter of 2009, Old National entered into a $30 million revolving credit facility at the parent level. The facility had an interest rate of LIBOR plus 2.00% and a maturity of 364 days. Old National did not use the facility. The facility matured in April 2010 and Old National did not renew the facility.

Treasury Investment Program

As of December 31, 2011, Old National had a $0.1 million note payable to a life insurance company which was assumed as part of the Integra Bank acquisition. This note payable, which carries an effective interest rate of 7.26%, matured in January 2012.

As of December 31, 2010, Old National had $9.2 million of Treasury funds under the Treasury Tax and Loan Account program. These funds typically have a short duration, are collateralized and can be withdrawn by the Treasury Department at any time. At December 31, 2010, the effective interest rate on these funds was 0%.