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v3.22.1

Other Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2022
Other Liabilities Disclosure [Abstract] |
Summary of Other Borrowings | The following table summarizes Old National’s other borrowings:
(dollars in thousands) | March 31, 2022 |  | December 31, 2021
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 | (364) |  |  | (403) |
Subordinated debentures (fixed rate 5.875%) maturing September 2026 | 150,000 |  |  | — |
Junior subordinated debentures (variable rates of 1.84% to 6.95%) maturing July 2031 to September 2037 | 136,643 |  |  | 42,000 |
Other basis adjustments | 27,231 |  |  | (3,044) |
Old National Bank: |  |  |
Finance lease liabilities | 16,621 |  |  | 17,233 |
Subordinated debentures (variable rate 4.66%) maturing October 2025 | 12,000 |  |  | 12,000 |
Leveraged loans for NMTC (fixed rates of 1.00% to 1.43%) maturing December 2046 to December 2052 | 77,550 |  |  | 51,045 |
Other | 2,526 |  |  | 2,839 |
Total other borrowings | $ | 597,207 |  |  | $ | 296,670 |
The following table summarizes the terms of our outstanding junior subordinated debentures at March 31, 2022:
(dollars in thousands) |  |  |  |  |  | Rate at March 31, 2022 |  |
Name of Trust | Issuance Date |  | Issuance Amount |  | Rate |  | Maturity Date
St. Joseph Capital Trust II | March 2005 |  | $ | 5,155 |  |  | 3-month LIBOR plus 1.75% | 2.66% |  | March 17, 2035
Anchor Capital Trust III | August 2005 |  | 5,000 |  |  | 3-month LIBOR plus 1.55% | 2.56% |  | September 30, 2035
Home Federal Statutory Trust I | September 2006 |  | 15,464 |  |  | 3-month LIBOR plus 1.65% | 2.48% |  | September 15, 2036
Monroe Bancorp Capital Trust I | July 2006 |  | 3,093 |  |  | 3-month LIBOR plus 1.60% | 1.84% |  | October 7, 2036
Tower Capital Trust 3 | December 2006 |  | 9,279 |  |  | 3-month LIBOR plus 1.69% | 2.21% |  | March 1, 2037
Monroe Bancorp Statutory Trust II | March 2007 |  | 5,155 |  |  | 3-month LIBOR plus 1.60% | 2.43% |  | June 15, 2037
First Midwest Capital Trust I | November 2003 |  | 37,825 |  |  | 6.95% fixed | 6.95% |  | December 1, 2033
Great Lakes Statutory Trust II | December 2005 |  | 6,186 |  |  | 3-month LIBOR plus 1.40% | 2.23% |  | December 15, 2035
Great Lakes Statutory Trust III | June 2007 |  | 8,248 |  |  | 3-month LIBOR plus 1.70% | 2.53% |  | September 15, 2037
Northern States Statutory Trust I | September 2005 |  | 10,310 |  |  | 3-month LIBOR plus 1.80% | 2.63% |  | September 15, 2035
Bridgeview Statutory Trust I | July 2001 |  | 15,464 |  |  | 3-month LIBOR plus 3.58% | 3.88% |  | July 31, 2031
Bridgeview Capital Trust II | December 2002 |  | 15,464 |  |  | 3-month LIBOR plus 3.35% | 3.58% |  | January 7, 2033
Total |  |  | $ | 136,643 |  |  |  |  |  |
Contractual Maturities of Other Borrowings | Contractual maturities of other borrowings at March 31, 2022 were as follows:
(dollars in thousands) |
Due in 2022 | $ | 1,880 |
Due in 2023 | 2,582 |
Due in 2024 | 177,649 |
Due in 2025 | 14,686 |
Due in 2026 | 151,495 |
Thereafter | 219,522 |
Unamortized debt issuance costs and other basis adjustments | 29,393 |
Total | $ | 597,207 |

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