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Shareholders' Equity
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Shareholders' Equity SHAREHOLDERS' EQUITY
Dividend Reinvestment and Stock Purchase Plan
Old National has a dividend reinvestment and stock purchase plan under which common shares issued may be either repurchased shares or authorized and previously unissued shares.  A new plan became effective on August 13, 2018, with total authorized and unissued common shares reserved for issuance of 3.3 million.  At December 31, 2020, 3.3 million authorized and unissued common shares were available for issuance under the plan.
Employee Stock Purchase Plan
Old National has an employee stock purchase plan under which eligible employees can purchase common shares at a price not less than 95% of the fair market value of the common shares on the purchase date.  The amount of common shares purchased cannot exceed 10% of the employee’s compensation.  The maximum number of shares that may be purchased under this plan is 500,000 shares.  In 2020, 43,000 shares were issued related to this plan with proceeds of approximately $577,000.  In 2019, 36,000 shares were issued related to this plan with proceeds of approximately $567,000.
Share Repurchase Plan
In the first quarter of 2020, the Board of Directors approved the repurchase of up to 7.0 million of the Company’s common shares to be repurchased, as conditions warrant, through January 31, 2021.  During 2020, Old National repurchased 4.9 million common shares under the plan, which reduced equity by $78.7 million. The program was suspended in March 2020 given the uncertain economic conditions.
On January 28, 2021, the Board of Directors approved the adoption of a stock repurchase plan that authorizes the repurchase of up to $100 million of shares of Common Stock, as conditions warrant, through January 31, 2022.
Net Income per Share
Basic and diluted net income per share are calculated using the two-class method.  Net income is divided by the weighted-average number of common shares outstanding during the period.  Adjustments to the weighted average number of common shares outstanding are made only when such adjustments will dilute net income per common share.  Net income is then divided by the weighted-average number of common shares and common share equivalents during the period.
The following table reconciles basic and diluted net income per share.
(dollars and shares in thousands,
except per share data)		Years Ended December 31,
202020192018
Basic Net Income Per Share
Net income
$226,409 $238,206 $190,830 
Weighted average common shares outstanding165,509 171,907 155,675 

Basic Net Income Per Share		$1.37 $1.39 $1.23 
Diluted Net Income Per Share
Net income
$226,409 $238,206 $190,830 
Weighted average common shares outstanding165,509 171,907 155,675 
Effect of dilutive securities:
Restricted stock632 733 796 
Stock options and appreciation rights36 47 68 
Weighted average shares outstanding166,177 172,687 156,539 

Diluted Net Income Per Share		$1.36 $1.38 $1.22