XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.22.2

Loan Servicing Rights | 6 Months Ended
--- | ---
Jun. 30, 2022
Transfers and Servicing [Abstract] |
Loan Servicing Rights | LOAN SERVICING RIGHTS Loan servicing rights are included in other assets on the balance sheet. At June 30, 2022, loan servicing rights derived from mortgage loans sold with servicing retained totaled $38.1 million, compared to $30.0 million at December 31, 2021. Loans serviced for others are not reported as assets. The principal balance of mortgage loans serviced for others was $4.4 billion at June 30, 2022, compared to $3.7 billion at December 31, 2021. Custodial escrow balances maintained in connection with serviced loans were $58.1 million at June 30, 2022 and $18.2 million at December 31, 2021. The following table summarizes the carrying values and activity related to loan servicing rights and the related valuation allowance:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Balance at beginning of period | $ | 38,246 |  |  | $ | 28,262 |  |  | $ | 30,085 |  |  | $ | 28,124 |
Additions (1) | 1,347 |  |  | 3,058 |  |  | 11,013 |  |  | 6,171 |
Amortization | (1,472) |  |  | (2,434) |  |  | (2,977) |  |  | (5,409) |
Balance before valuation allowance at end of period | 38,121 |  |  | 28,886 |  |  | 38,121 |  |  | 28,886 |
Valuation allowance: |  |  |  |  |  |  |
Balance at beginning of period | (1) |  |  | (146) |  |  | (46) |  |  | (1,407) |
(Additions)/recoveries | 1 |  |  | 41 |  |  | 46 |  |  | 1,302 |
Balance at end of period | — |  |  | (105) |  |  | — |  |  | (105) |
Loan servicing rights, net | $ | 38,121 |  |  | $ | 28,781 |  |  | $ | 38,121 |  |  | $ | 28,781 |
(1)Additions in the six months ended June 30, 2022 include loan servicing rights of $7.7 million acquired in the First Midwest merger on February 15, 2022. At June 30, 2022, the fair value of servicing rights was $46.8 million, which was determined using a discount rate of 9% and a conditional prepayment rate of 9%. At December 31, 2021, the fair value of servicing rights was $33.8 million, which was determined using a discount rate of 9% and a conditional prepayment rate of 10%.

X
- Definition The entire disclosure for loan servicing rights, which are recorded when loans are sold with servicing retained. + References No definition available. + Details
Name: | onb_LoanServicingDisclosureTextBlock
Namespace Prefix: | onb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TransfersAndServicingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration