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Interim Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Interim Financial Data (Unaudited) | INTERIM FINANCIAL DATA (UNAUDITED) The following table details the quarterly results of operations for the years ended December 31, 2020 and 2019.
(unaudited, dollars and shares in thousands, | Three Months Ended |  | Three Months Ended
except per share data) | 12/312020 |  | 9/302020 |  | 6/302020 |  | 3/312020 |  | 12/312019 |  | 9/302019 |  | 6/302019 |  | 3/312019
Interest income | $ | 173,249 |  |  | $ | 160,086 |  |  | $ | 161,974 |  |  | $ | 167,999 |  |  | $ | 176,553 |  |  | $ | 185,853 |  |  | $ | 189,063 |  |  | $ | 178,918 |
Interest expense | 12,170 |  |  | 14,513 |  |  | 16,303 |  |  | 24,228 |  |  | 27,654 |  |  | 32,757 |  |  | 33,833 |  |  | 31,870 |
Net interest income | 161,079 |  |  | 145,573 |  |  | 145,671 |  |  | 143,771 |  |  | 148,899 |  |  | 153,096 |  |  | 155,230 |  |  | 147,048 |
Provision for loan losses (1) | (1,100) |  |  | — |  |  | 22,545 |  |  | 16,950 |  |  | 1,264 |  |  | 1,437 |  |  | 1,003 |  |  | 1,043 |
Noninterest income | 58,552 |  |  | 64,759 |  |  | 58,461 |  |  | 57,502 |  |  | 47,726 |  |  | 53,961 |  |  | 51,214 |  |  | 46,416 |
Noninterest expense (2) | 142,318 |  |  | 120,234 |  |  | 120,121 |  |  | 158,744 |  |  | 134,743 |  |  | 122,585 |  |  | 128,118 |  |  | 123,041 |
Income before income taxes | 78,413 |  |  | 90,098 |  |  | 61,466 |  |  | 25,579 |  |  | 60,618 |  |  | 83,035 |  |  | 77,323 |  |  | 69,380 |
Income tax expense | 4,293 |  |  | 12,154 |  |  | 9,761 |  |  | 2,939 |  |  | 11,433 |  |  | 13,254 |  |  | 14,359 |  |  | 13,104 |
Net income | $ | 74,120 |  |  | $ | 77,944 |  |  | $ | 51,705 |  |  | $ | 22,640 |  |  | $ | 49,185 |  |  | $ | 69,781 |  |  | $ | 62,964 |  |  | $ | 56,276 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.45 |  |  | $ | 0.47 |  |  | $ | 0.32 |  |  | $ | 0.13 |  |  | $ | 0.29 |  |  | $ | 0.41 |  |  | $ | 0.37 |  |  | $ | 0.32 |
Diluted | 0.44 |  |  | 0.47 |  |  | 0.32 |  |  | 0.13 |  |  | 0.29 |  |  | 0.41 |  |  | 0.36 |  |  | 0.32 |
Average shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | 164,799 |  |  | 164,773 |  |  | 164,732 |  |  | 167,748 |  |  | 169,235 |  |  | 170,746 |  |  | 172,985 |  |  | 174,734 |
Diluted | 165,631 |  |  | 165,419 |  |  | 165,302 |  |  | 168,404 |  |  | 170,186 |  |  | 171,551 |  |  | 173,675 |  |  | 175,368 |
(1)Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology. (2)Noninterest expense for the three months ended March 31, 2020 included $31.2 million of charges related to The ONB Way strategic initiative.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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