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Securities Sold Under Agreements to Repurchase
12 Months Ended
Dec. 31, 2021
Securities Sold under Agreements to Repurchase [Abstract]  
Securities Sold Under Agreements to Repurchase SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Securities sold under agreements to repurchase are secured borrowings.  Old National pledges investment securities to secure these borrowings.  The following table presents securities sold under agreements to repurchase and related weighted-average interest rates for each of the years ended December 31:
(dollars in thousands)20212020
Outstanding at year-end$392,275 $431,166 
Average amount outstanding392,777 375,961 
Maximum amount outstanding at any month-end405,278 438,039 
Weighted-average interest rate:
During year0.10 %0.23 %
End of year0.10 0.12 
The following table presents the contractual maturity of our secured borrowings and class of collateral pledged:
At December 31, 2021
Remaining Contractual Maturity of the Agreements
(dollars in thousands)Overnight and
Continuous
Up to
30 Days
30-90 DaysGreater Than
90 days
Total
Repurchase Agreements:
U.S. Treasury and agency securities$392,275 $ $ $ $392,275 
Total$392,275 $ $ $ $392,275 
The fair value of securities pledged to secure repurchase agreements may decline.  Old National has pledged securities valued at 109% of the gross outstanding balance of repurchase agreements at December 31, 2021 to manage this risk.