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Other Borrowings (Tables)
3 Months Ended
Mar. 31, 2021
Other Liabilities Disclosure [Abstract]  
Summary of Other Borrowings
The following table summarizes Old National’s other borrowings:
(dollars in thousands)March 31,
2021
December 31,
2020
Old National Bancorp:  
Senior unsecured notes (fixed rate 4.125% maturing August 2024)
$175,000 $175,000 
Unamortized debt issuance costs related to senior unsecured notes(520)(559)
Junior subordinated debentures (variable rates of
   1.75% to 1.93%) maturing March 2035 to June 2037
42,000 42,000 
Other basis adjustments(3,157)(3,195)
Old National Bank:
Finance lease liabilities11,561 11,813 
Subordinated debentures (variable rate 4.56%)
12,000 12,000 
Leveraged loans for NMTC (fixed rates of 1.00% to 1.43%)
   maturing December 2046 to December 2052
25,655 15,300 
Other3,743 428 
Total other borrowings$266,282 $252,787 
The following table summarizes the terms of our outstanding junior subordinated debentures:
(dollars in thousands)   
Rate at
March 31,
2021
 
Name of TrustIssuance DateIssuance
Amount
RateMaturity Date
St. Joseph Capital Trust IIMarch 2005$5,000 
3-month LIBOR plus 1.75%
1.93%March 17, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month LIBOR plus 1.55%
1.75%September 30, 2035
Home Federal Statutory
   Trust I
September 200615,000 
3-month LIBOR plus 1.65%
1.83%September 15, 2036
Monroe Bancorp Capital
   Trust I
July 20063,000 
3-month LIBOR plus 1.60%
1.82%October 7, 2036
Tower Capital Trust 3December 20069,000 
3-month LIBOR plus 1.69%
1.88%March 1, 2037
Monroe Bancorp Statutory
   Trust II
March 20075,000 
3-month LIBOR plus 1.60%
1.78%June 15, 2037
Total$42,000 
Contractual Maturities of Other Borrowings
Contractual maturities of other borrowings at March 31, 2021 were as follows:
(dollars in thousands) 
Due in 2021$774 
Due in 20221,073 
Due in 20231,132 
Due in 2024176,170 
Due in 20251,198 
Thereafter85,869 
Unamortized debt issuance costs and other basis adjustments66 
Total$266,282