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Parent Company Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheets | The following are the condensed parent company only financial statements of Old National:
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS |  |  |
| December 31,
(dollars in thousands) | 2023 |  | 2022
Assets |  |  |
Deposits in affiliate bank | $ | 284,294 |  |  | $ | 418,959 |
Equity securities | 51,241 |  |  | 30,717 |
Investment securities - available-for-sale | 15,886 |  |  | 16,814 |
Investment in affiliates: |  |  |
Banking subsidiaries | 5,530,637 |  |  | 5,000,153 |
Non-banks | 44,395 |  |  | 44,938 |
Goodwill | 59,506 |  |  | 59,506 |
Other assets | 127,540 |  |  | 135,025 |
Total assets | $ | 6,113,499 |  |  | $ | 5,706,112 |
Liabilities and Shareholders’ Equity |  |  |
Other liabilities | $ | 70,840 |  |  | $ | 92,758 |
Other borrowings | 479,759 |  |  | 484,759 |
Shareholders’ equity | 5,562,900 |  |  | 5,128,595 |
Total liabilities and shareholders’ equity | $ | 6,113,499 |  |  | $ | 5,706,112 |
Schedule of Condensed Statements of Income |
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENTS OF INCOME |  |  |  |  |
| Years Ended December 31,
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Income |  |  |  |  |
Dividends from affiliates | $ | 150,000 |  |  | $ | — |  |  | $ | 125,000 |
Other income | 2,919 |  |  | 1,733 |  |  | 3,364 |
Other income from affiliates | 5 |  |  | 5 |  |  | 5 |
Total income | 152,924 |  |  | 1,738 |  |  | 128,369 |
Expense |  |  |  |  |
Interest on borrowings | 20,700 |  |  | 16,662 |  |  | 8,285 |
Other expenses | 43,185 |  |  | 37,629 |  |  | 13,951 |
Total expense | 63,885 |  |  | 54,291 |  |  | 22,236 |
Income (loss) before income taxes and equity in undistributed earnings of affiliates | 89,039 |  |  | (52,553) |  |  | 106,133 |
Income tax expense (benefit) | (11,325) |  |  | (9,901) |  |  | (5,113) |
Income (loss) before equity in undistributed earnings of affiliates | 100,364 |  |  | (42,652) |  |  | 111,246 |
Equity in undistributed earnings of affiliates | 481,628 |  |  | 470,939 |  |  | 166,292 |
Net income | 581,992 |  |  | 428,287 |  |  | 277,538 |
Preferred dividends | (16,135) |  |  | (14,118) |  |  | — |
Net income applicable to common shareholders | $ | 565,857 |  |  | $ | 414,169 |  |  | $ | 277,538 |
Schedule of Condensed Statement of Cash Flows |
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) CONDENSED STATEMENT OF CASH FLOWS |  |  |  |  |
| Years Ended December 31,
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Cash Flows From Operating Activities |  |  |  |  |
Net income | $ | 581,992 |  |  | $ | 428,287 |  |  | $ | 277,538 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |
Depreciation | 18 |  |  | 26 |  |  | 30 |
Share-based compensation expense | 27,910 |  |  | 28,656 |  |  | 7,497 |
(Increase) decrease in other assets | (19,353) |  |  | (40,620) |  |  | 10,213 |
Increase (decrease) in other liabilities | (2,561) |  |  | 10,455 |  |  | (4,918) |
Equity in undistributed earnings of affiliates | (481,628) |  |  | (470,939) |  |  | (166,292) |
Net cash flows provided by (used in) operating activities | 106,378 |  |  | (44,135) |  |  | 124,068 |
Cash Flows From Investing Activities |  |  |  |  |
Net cash and cash equivalents of acquisitions | — |  |  | 573,099 |  |  | — |
Proceeds from sales of investment securities | — |  |  | — |  |  | 1,000 |
Proceeds from sales of equity securities | — |  |  | 44,038 |  |  | 540 |
Purchase of equity securities | (17,773) |  |  | — |  |  | — |
Purchases of investment securities | — |  |  | (9,000) |  |  | (15) |
Purchases of premises and equipment | (8) |  |  | — |  |  | (3) |
Net cash flows provided by (used in) investing activities | (17,781) |  |  | 608,137 |  |  | 1,522 |
Cash Flows From Financing Activities |  |  |  |  |
Cash dividends paid | (180,030) |  |  | (177,623) |  |  | (92,829) |
Common stock repurchased | (44,308) |  |  | (71,182) |  |  | (3,731) |
Common stock issued | 1,076 |  |  | 809 |  |  | 583 |
Net cash flows provided by (used in) financing activities | (223,262) |  |  | (247,996) |  |  | (95,977) |
Net increase (decrease) in cash and cash equivalents | (134,665) |  |  | 316,006 |  |  | 29,613 |
Cash and cash equivalents at beginning of period | 418,959 |  |  | 102,953 |  |  | 73,340 |
Cash and cash equivalents at end of period | $ | 284,294 |  |  | $ | 418,959 |  |  | $ | 102,953 |

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