Federal Home Loan Bank Advances

3 Months Ended

Mar. 31, 2017

Banking and Thrift [Abstract]

Federal Home Loan Bank Advances

NOTE 15 – FEDERAL HOME LOAN BANK ADVANCES

The following table summarizes Old National Bank’s Federal Home Loan Bank (“FHLB”) advances at March 31, 2017 and December 31, 2016:

	March 31,			December 31,
(dollars in thousands)	2017			2016
Federal Home Loan Bank advances (fixed rates 0.66% to 6.08% and variable rates 0.95% to 1.32%) maturing April 2017 to January 2025	$	1,441,395		$	1,353,225
ASC 815 fair value hedge and other basis adjustments		(365	)		(133	)
Total other borrowings	$	1,441,030		$	1,353,092

FHLB advances had weighted-average rates of 1.07% at March 31, 2017 and 0.94% at December 31, 2016. These borrowings are collateralized by investment securities and residential real estate loans up to 143% of outstanding debt.

Contractual maturities of FHLB advances at March 31, 2017 were as follows:

(dollars in thousands)
Due in 2017	$	753,818
Due in 2018		200,046
Due in 2019		202,358
Due in 2020		50,000
Due in 2021		—
Thereafter		235,173
ASC 815 fair value hedge and other basis adjustments		(365	)
Total	$	1,441,030