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Other Borrowings
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Other Borrowings OTHER BORROWINGS
The following table summarizes Old National’s other borrowings:
 December 31,
(dollars in thousands)20212020
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		(403)(559)
Junior subordinated debentures (variable rates
   of 1.72% to 1.97%) maturing March 2035
   to June 2037
42,000 42,000 
Other basis adjustments(3,044)(3,195)
Old National Bank:
Finance lease liabilities17,233 11,813 
Subordinated debentures (variable rate 4.49%)
12,000 12,000 
Leveraged loans for NMTC (fixed rates of
   1.00% to 1.43%) maturing December
   2046 to December 2052
51,045 15,300 
Other2,839 428 
Total other borrowings$296,670 $252,787 
Contractual maturities of other borrowings at December 31, 2021 were as follows:
(dollars in thousands) 
Due in 2022
$2,497 
Due in 2023
2,582 
Due in 2024
177,649 
Due in 2025
2,686 
Due in 2026
1,495 
Thereafter110,369 
Unamortized debt issuance costs and other basis adjustments(608)
Total$296,670 
Senior Notes
In August 2014, Old National issued $175.0 million of senior unsecured notes with a 4.125% interest rate.  These notes pay interest on February 15 and August 15.  The notes mature on August 15, 2024.
Junior Subordinated Debentures
Junior subordinated debentures related to trust preferred securities are classified in “other borrowings.”  Junior subordinated debentures qualify as Tier 2 capital for regulatory purposes, subject to certain limitations.
Through various acquisitions, Old National assumed junior subordinated debenture obligations related to various trusts that issued trust preferred securities.  Old National guarantees the payment of distributions on the trust preferred securities issued by the trusts.  Proceeds from the issuance of each of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by the trusts.
Old National, at any time, may redeem the junior subordinated debentures at par and, thereby cause a redemption of the trust preferred securities in whole or in part.
The following table summarizes the terms of our outstanding junior subordinated debentures as of December 31, 2021:
(dollars in thousands)

Name of Trust
Issuance DateIssuance
Amount		Rate
Rate at
December 31,
2021
Maturity Date
St. Joseph Capital Trust IIMarch 2005$5,000 
3-month LIBOR plus 1.75%
1.97 %March 17, 2035
Anchor Capital Trust IIIAugust 20055,000 
3-month LIBOR plus 1.55%
1.77 %September 30, 2035
Home Federal Statutory
   Trust I		September 200615,000 
3-month LIBOR plus 1.65%
1.85 %September 15, 2036
Monroe Bancorp Capital
   Trust I		July 20063,000 
3-month LIBOR plus 1.60%
1.72 %October 7, 2036
Tower Capital Trust 3December 20069,000 
3-month LIBOR plus 1.69%
1.86 %March 1, 2037
Monroe Bancorp Statutory
   Trust II		March 20075,000 
3-month LIBOR plus 1.60%
1.80 %June 15, 2037
Total$42,000 
Subordinated Debentures
On November 1, 2017, Old National assumed $12.0 million of subordinated fixed-to-floating notes related to the acquisition of Anchor (MN).  The subordinated debentures had a 5.75% fixed rate of interest through October 29, 2020.  From October 30, 2020 to the October 30, 2025 maturity date, the debentures have a floating rate of interest equal to the three-month LIBOR rate plus 4.356%.
Leveraged Loans
The leveraged loans are directly related to the New Markets Tax Credit structure. As part of the transaction structure, Old National has the right to sell its interest in the entity that received the leveraged loans at an agreed upon price to the leveraged lender at the end of the New Markets Tax Credit seven year compliance period. See Note 10 to the consolidated financial statements for additional information on the Company’s New Markets Tax Credit investments.
Finance Lease Liabilities
Old National has long-term finance lease liabilities for certain banking centers and equipment totaling $17.2 million at December 31, 2021.  See Note 7 to the consolidated financial statements for a maturity analysis of the Company’s finance lease liabilities.