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Shareholders' Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Shareholders' Equity SHAREHOLDERS' EQUITY
Stock Purchase and Dividend Reinvestment Plan
Old National has a stock purchase and dividend reinvestment plan under which common shares issued may be either repurchased shares or authorized and previously unissued shares.  A new plan became effective on August 12, 2021, with total authorized and unissued common shares reserved for issuance of 3.3 million.  At December 31, 2022, 3.3 million authorized and unissued common shares were available for issuance under the plan.
Employee Stock Purchase Plan
Old National has an employee stock purchase plan under which eligible employees can purchase common shares at a price not less than 95% of the fair market value of the common shares on the purchase date.  The amount of common shares purchased cannot exceed 10% of the employee’s compensation.  In 2022, 52,000 shares were issued related to this plan with proceeds of approximately $809,000.  In 2021, 35,000 shares were issued related to this plan with proceeds of approximately $583,000.
Share Repurchase Plan
In the first quarter of 2022, the Board of Directors approved a stock repurchase program that authorized the Company to repurchase up to $200 million of the Company’s outstanding shares of Common Stock, as conditions warrant, through January 31, 2023. During 2022 and through January 31, 2023, 3.5 million common shares were repurchased under the plan, which reduced equity by $63.8 million.
Net Income per Common Share
Basic and diluted net income per common share are calculated using the two-class method.  Net income applicable to common shares is divided by the weighted-average number of common shares outstanding during the period.  Adjustments to the weighted-average number of common shares outstanding are made only when such adjustments will dilute net income per common share.  Net income applicable to common shares is then divided by the weighted-average number of common shares and common share equivalents during the period.
The following table presents the calculation of basic and diluted net income per common share:
(dollars and shares in thousands,
except per share data)		Years Ended December 31,
202220212020
Net income$428,287 $277,538 $226,409 
Preferred dividends(14,118)— — 
Net income applicable to common shares$414,169 $277,538 $226,409 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)275,179 165,178 165,509 
Effect of dilutive securities:
Restricted stock1,502 729 632 
Stock appreciation rights7 22 36 
Weighted average diluted shares outstanding276,688 165,929 166,177 
Basic Net Income Per Common Share$1.51 $1.68 $1.37 
Diluted Net Income Per Common Share$1.50 $1.67 $1.36