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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Summary of Table Reconciling Basic and Diluted Net Income Per Share
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,
202420232022
Net income$539,188 $581,992 $428,287 
Preferred dividends(16,135)(16,135)(14,118)
Net income applicable to common shares$523,053 $565,857 $414,169 
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)309,499 290,748 275,179 
Effect of dilutive securities (1):
Restricted stock1,502 1,107 1,502 
Stock appreciation rights — 
Weighted average diluted shares outstanding311,001 291,855 276,688 
Basic Net Income Per Common Share$1.69 $1.95 $1.51 
Diluted Net Income Per Common Share$1.68 $1.94 $1.50 
(1)Old National had potentially dilutive shares from forward sale contracts for the year ended December 31, 2024 that were determined to be antidilutive and have been excluded from the calculation of diluted net income per share.