Parent Company Financial Statements

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Statements

NOTE 26 - PARENT COMPANY FINANCIAL STATEMENTS

The following are the condensed parent company only financial statements of Old National:

OLD NATIONAL BANCORP (PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

	December 31,
(dollars in thousands)	2016		2015
Assets
Deposits in affiliate bank	$	91,650	$	48,000
Trading securities - at fair value		4,982		3,941
Investment securities - available-for-sale		1,535		1,452
Investment in affiliates:
Banking subsidiaries		1,862,244		1,551,924
Non-banks		11,388		49,083
Other assets		90,872		84,598
Total assets	$	2,062,671	$	1,738,998
Liabilities and Shareholders’ Equity
Other liabilities	$	33,407	$	33,608
Other borrowings		214,847		214,220
Shareholders’ equity		1,814,417		1,491,170
Total liabilities and shareholders’ equity	$	2,062,671	$	1,738,998

OLD NATIONAL BANCORP (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF INCOME

	Years Ended December 31,
(dollars in thousands)	2016			2015			2014
Income
Dividends from affiliates	$	160,007		$	67,717		$	65,292
Net securities gains		100			6			170
Other income		40,841			1,892			1,554
Other income from affiliates		6			51			79
Total income		200,954			69,666			67,095
Expense
Interest on borrowings		9,077			8,684			3,837
Other expenses		18,460			13,957			11,357
Total expense		27,537			22,641			15,194
Income before income taxes and equity in undistributed earnings of affiliates		173,417			47,025			51,901
Income tax expense (benefit)		11,952			(5,473	)		(4,020	)
Income before equity in undistributed earnings of affiliates		161,465			52,498			55,921
Equity in undistributed earnings of affiliates		(27,201	)		64,218			47,746
Net income	$	134,264		$	116,716		$	103,667

OLD NATIONAL BANCORP (PARENT COMPANY ONLY)

CONDENSED STATEMENT OF CASH FLOWS

	Years Ended December 31,
(dollars in thousands)	2016			2015			2014
Cash Flows From Operating Activities
Net income	$	134,264		$	116,716		$	103,667
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		29			20			11
Net securities gains		(100	)		(6	)		(270	)
Gain on sale of ONB Insurance Group, Inc.		(41,864	)		—			—
Stock compensation expense		7,318			4,255			4,162
(Increase) decrease in other assets		(3,958	)		6,307			20,040
Increase (decrease) in other liabilities		(225	)		1,441			286
Equity in undistributed earnings of affiliates		27,201			(64,218	)		(47,746	)
Total adjustments		(11,599	)		(52,201	)		(23,517	)
Net cash flows provided by operating activities		122,665			64,515			80,150
Cash Flows From Investing Activities
Net cash and cash equivalents of acquisitions		(100,220	)		(41,070	)		(82,975	)
Proceeds from sale of ONB Insurance Group, Inc.		91,771			—			—
Purchases of investment securities		(52	)		(1,053	)		(45	)
Net advances to affiliates		(3,500	)		—			(3,832	)
Purchases of premises and equipment		(13	)		—			(1,032	)
Net cash flows used in investing activities		(12,014	)		(42,123	)		(87,884	)
Cash Flows From Financing Activities
Proceeds from issuance of other borrowings		—			—			173,500
Cash dividends paid on common stock		(67,536	)		(55,552	)		(48,181	)
Common stock repurchased		(2,202	)		(88,695	)		(25,830	)
Proceeds from exercise of stock options, including tax benefit		2,349			997			749
Common stock issued		388			391			326
Net cash flows provided by (used in) financing activities		(67,001	)		(142,859	)		100,564
Net increase (decrease) in cash and cash equivalents		43,650			(120,467	)		92,830
Cash and cash equivalents at beginning of period		48,000			168,467			75,637
Cash and cash equivalents at end of period	$	91,650		$	48,000		$	168,467