Acquisition and Divestiture Activity (Tables) - KleinBank [Member] - Minnesota [Member]

9 Months Ended

Sep. 30, 2019

Summary of Fair Values of Acquired Assets, Liabilities Assumed and Resulting Goodwill

During the three months ended September 30, 2019, immaterial adjustments were made to the provisional valuation of assets acquired and liabilities assumed as Old National finalized the valuation.  These adjustments affected goodwill, premises and equipment, and net deferred tax assets.  A summary of the fair values of the acquired assets, liabilities assumed, and resulting goodwill follows (in thousands):

Cash and cash equivalents	$	60,759
Investment securities		697,951
FHLB/Federal Reserve Bank stock		2,637
Loans held for sale		3,371
Loans		1,049,073
Premises and equipment		32,408
Accrued interest receivable		7,896
Company-owned life insurance		36,380
Net deferred tax assets		6,746
Other real estate owned		954
Other assets		10,299
Deposits		(1,713,086	)
Securities sold under agreements to repurchase		(19,481	)
Accrued expenses and other liabilities		(17,506	)
Net tangible assets acquired		158,401
Definite-lived intangible assets acquired		39,017
Loan servicing rights		285
Goodwill		208,771
Total consideration	$	406,474

Summary of Acquired Loan Data

Acquired loan data for Klein can be found in the table below:

					Best Estimate at
					Acquisition Date of
	Fair Value		Gross Contractual		Contractual Cash
	of Acquired Loans		Cash Flows at		Flows Not Expected
(in thousands)	at Acquisition Date		Acquisition Date		to be Collected
Acquired receivables subject to    ASC 310-30	$	11,663	$	18,568	$	4,521
Acquired receivables not subject    to ASC 310-30	$	1,037,410	$	1,252,954	$	76,534