Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'Old National Bancorp /IN/ | ' | ' |
Entity Central Index Key | '0000707179 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 99,930,000 | ' |
Entity Public Float | ' | ' | $1,358,788,399 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $190,606 | $218,276 |
Money market and other interest-earning investments | 16,117 | 45,784 |
Total cash and cash equivalents | 206,723 | 264,060 |
Trading securities-at fair value | 3,566 | 3,097 |
Securities-available-for-sale, at fair value | 2,372,201 | 2,500,784 |
Securities-held-to-maturity, at amortized cost (fair value $780,758 and $433,201 respectively) | 762,734 | 402,828 |
Federal Home Loan Bank stock, at cost | 40,584 | 37,927 |
Residential loans held for sale, at fair value | 7,705 | 12,591 |
Loans, net of unearned income | 4,865,132 | 4,824,261 |
Covered loans, net of discount | 217,832 | 372,333 |
Total loans | 5,082,964 | 5,196,594 |
Allowance for loan losses | -41,741 | -49,047 |
Allowance for loan losses-covered loans | -5,404 | -5,716 |
Net loans | 5,035,819 | 5,141,831 |
FDIC indemnification asset | 88,513 | 116,624 |
Premises and equipment, net | 108,306 | 89,868 |
Accrued interest receivable | 50,205 | 46,979 |
Goodwill | 352,729 | 338,820 |
Other intangible assets | 25,957 | 29,220 |
Company-owned life insurance | 275,121 | 270,629 |
Other real estate owned and repossessed personal property | 7,562 | 11,179 |
Other real estate owned-covered | 13,670 | 26,137 |
Assets held for sale | 9,056 | 15,047 |
Other assets | 221,293 | 236,002 |
Total assets | 9,581,744 | 9,543,623 |
Deposits: | ' | ' |
Noninterest-bearing demand | 2,026,490 | 2,007,770 |
Interest-bearing: | ' | ' |
NOW | 1,775,938 | 1,827,665 |
Savings | 1,941,652 | 1,869,377 |
Money market | 448,848 | 292,860 |
Time | 1,017,975 | 1,281,281 |
Total deposits | 7,210,903 | 7,278,953 |
Short-term borrowings | 462,332 | 589,815 |
Other borrowings | 556,388 | 237,493 |
Accrued expenses and other liabilities | 189,481 | 242,797 |
Total liabilities | 8,419,104 | 8,349,058 |
Commitments and contingencies (Note 19) | ' | ' |
Shareholders' Equity | ' | ' |
Preferred stock, series A, 1,000 shares authorized, no shares issued or outstanding | ' | ' |
Common stock, $1.00 per share stated value, 150,000 shares authorized, 99,859 and 101,179 shares issued and outstanding, respectively | 99,859 | 101,179 |
Capital surplus | 900,254 | 916,918 |
Retained earnings | 206,993 | 146,667 |
Accumulated other comprehensive income (loss), net of tax | -44,466 | 29,801 |
Total shareholders' equity | 1,162,640 | 1,194,565 |
Total liabilities and shareholders' equity | $9,581,744 | $9,543,623 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Investment securities - held-to-maturity, fair value | $780,758 | $433,201 |
Common stock, stated value | $1 | $1 |
Authorized and unissued common shares reserved for issuance | 150,000 | 150,000 |
Common stock, shares issued | 99,859 | 101,179 |
Common stock, shares outstanding | 99,859 | 101,179 |
Series A Preferred Stock [Member] | ' | ' |
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loans including fees: | ' | ' | ' |
Taxable | $252,499 | $257,176 | $228,480 |
Nontaxable | 9,411 | 8,858 | 9,419 |
Investment securities, available-for-sale: | ' | ' | ' |
Taxable | 44,486 | 44,059 | 51,682 |
Nontaxable | 14,453 | 15,722 | 13,571 |
Investment securities, held-to-maturity: | ' | ' | ' |
Taxable | 15,885 | 18,830 | 23,079 |
Nontaxable | 5,038 | ' | ' |
Money market and other interest-earning investments | 38 | 54 | 362 |
Total interest income | 341,810 | 344,699 | 326,593 |
Interest Expense | ' | ' | ' |
Deposits | 18,124 | 27,042 | 35,911 |
Short-term borrowings | 641 | 539 | 550 |
Other borrowings | 5,621 | 8,361 | 17,259 |
Total interest expense | 24,386 | 35,942 | 53,720 |
Net interest income | 317,424 | 308,757 | 272,873 |
Provision for loan losses | -2,319 | 5,030 | 7,473 |
Net interest income after provision for loan losses | 319,743 | 303,727 | 265,400 |
Noninterest Income | ' | ' | ' |
Wealth management fees | 23,493 | 21,549 | 20,460 |
Service charges on deposit accounts | 49,562 | 51,483 | 51,862 |
Debit card and ATM fees | 25,019 | 24,006 | 25,199 |
Mortgage banking revenue | 4,420 | 3,742 | 3,250 |
Insurance premiums and commissions | 38,483 | 37,103 | 36,957 |
Investment product fees | 16,018 | 12,714 | 11,068 |
Company-owned life insurance | 7,454 | 6,452 | 5,322 |
Net securities gains | 4,341 | 15,052 | 8,691 |
Total other-than-temporary impairment losses | -1,000 | -1,414 | -3,252 |
Loss recognized in other comprehensive income | ' | ' | 1,843 |
Impairment losses recognized in earnings | -1,000 | -1,414 | -1,409 |
Gain on derivatives | 176 | 820 | 974 |
Recognition of deferred gain on sale leaseback transactions | 6,476 | 6,423 | 7,864 |
Gain on branch divestitures-deposit premium | 2,894 | ' | ' |
Change in FDIC indemnification asset | -9,288 | -3,375 | 426 |
Other income | 16,710 | 15,261 | 12,219 |
Total noninterest income | 184,758 | 189,816 | 182,883 |
Noninterest Expense | ' | ' | ' |
Salaries and employee benefits | 202,435 | 193,874 | 189,539 |
Occupancy | 48,360 | 50,929 | 51,054 |
Equipment | 11,879 | 11,744 | 11,720 |
Marketing | 7,212 | 7,451 | 5,990 |
Data processing | 21,608 | 22,014 | 22,971 |
Communication | 10,521 | 10,939 | 10,406 |
Professional fees | 11,948 | 12,030 | 14,959 |
Loan expense | 6,972 | 7,037 | 4,734 |
Supplies | 2,361 | 2,719 | 3,762 |
FDIC assessment | 5,097 | 5,991 | 7,523 |
Other real estate owned expense | 4,129 | 17,136 | 1,992 |
Amortization of intangibles | 8,162 | 7,941 | 8,829 |
Other expense | 21,300 | 15,953 | 15,042 |
Total noninterest expense | 361,984 | 365,758 | 348,521 |
Income before income taxes | 142,517 | 127,785 | 99,762 |
Income tax expense | 41,597 | 36,110 | 27,302 |
Net Income | $100,920 | $91,675 | $72,460 |
Net income per common share: | ' | ' | ' |
Basic earnings per share | $1 | $0.95 | $0.76 |
Diluted earnings per share | $1 | $0.95 | $0.76 |
Weighted average number of common shares outstanding | ' | ' | ' |
Basic | 100,712 | 96,440 | 94,467 |
Diluted | 101,198 | 96,833 | 94,772 |
Dividends per common share | $0.40 | $0.36 | $0.28 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $100,920 | $91,675 | $72,460 |
Change in securities available-for-sale: | ' | ' | ' |
Unrealized holding gains for the period | -125,761 | 37,178 | 43,221 |
Reclassification for securities transferred to held-to-maturity | 31,005 | ' | ' |
Reclassification adjustment for securities gains realized in income | -4,341 | -15,052 | -8,691 |
Other-than-temporary-impairment on available-for-sale debt securities recorded in other comprehensive income | ' | ' | -1,843 |
Other-than-temporary-impairment on available-for-sale debt securities associated with credit loss realized in income | 1,000 | 1,414 | 1,409 |
Income tax effect | 37,935 | -9,099 | -13,273 |
Unrealized gains on available-for-sale securities | -60,162 | 14,441 | 20,823 |
Change in securities held-to-maturity: | ' | ' | ' |
Adjustment for securities transferred to available-for-sale | ' | -1,588 | ' |
Adjustment for securities transferred from available-for-sale | -31,005 | ' | ' |
Amortization of fair value for securities held-to-maturity previously recognized into accumulated other comprehensive income | 225 | -870 | -1,535 |
Income tax effect | 10,744 | 982 | 613 |
Changes from securities held-to-maturity | -20,036 | -1,476 | -922 |
Cash flow hedges: | ' | ' | ' |
Net unrealized derivative gains (losses) on cash flow hedges | -306 | -240 | -1,387 |
Reclassification adjustment on cash flow hedges | ' | ' | 216 |
Income tax effect | 116 | 96 | 470 |
Changes from cash flow hedges | -190 | -144 | -701 |
Defined benefit pension plans: | ' | ' | ' |
Net loss, settlement cost and amortization of net (gain) loss recognized in income | 10,337 | 3,294 | -4,878 |
Income tax effect | -4,216 | -1,318 | 1,951 |
Changes from defined benefit pension plans | 6,121 | 1,976 | -2,927 |
Net current-period other comprehensive income (loss) | -74,267 | 14,797 | 16,273 |
Comprehensive income | $26,653 | $106,472 | $88,733 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | |||||
Balance at Dec. 31, 2010 | $878,805 | $87,183 | $748,873 | $44,018 | ($1,269) |
Net income | 72,460 | ' | ' | 72,460 | ' |
Other comprehensive income (loss) | 16,273 | ' | ' | ' | 16,273 |
Acquisition | 90,070 | 7,575 | 82,495 | ' | ' |
Dividends-common stock | -26,513 | ' | ' | -26,513 | ' |
Common stock issued | 222 | 22 | 200 | ' | ' |
Common stock repurchased | -1,526 | -145 | -1,381 | ' | ' |
Stock based compensation expense | 3,436 | ' | 3,436 | ' | ' |
Stock activity under incentive comp plans | 329 | 19 | 410 | -100 | ' |
Balance at Dec. 31, 2011 | 1,033,556 | 94,654 | 834,033 | 89,865 | 15,004 |
Net income | 91,675 | ' | ' | 91,675 | ' |
Other comprehensive income (loss) | 14,797 | ' | ' | ' | 14,797 |
Acquisition | 88,497 | 6,626 | 81,871 | ' | ' |
Dividends-common stock | -34,657 | ' | ' | -34,657 | ' |
Common stock issued | 254 | 21 | 233 | ' | ' |
Common stock repurchased | -3,990 | -326 | -3,664 | ' | ' |
Stock based compensation expense | 3,317 | ' | 3,317 | ' | ' |
Stock activity under incentive comp plans | 1,116 | 204 | 1,128 | -216 | ' |
Balance at Dec. 31, 2012 | 1,194,565 | 101,179 | 916,918 | 146,667 | 29,801 |
Net income | 100,920 | ' | ' | 100,920 | ' |
Other comprehensive income (loss) | -74,267 | ' | ' | ' | -74,267 |
Dividends-common stock | -40,278 | ' | ' | -40,278 | ' |
Common stock issued | 290 | 22 | 268 | ' | ' |
Common stock repurchased | -24,292 | -1,728 | -22,564 | ' | ' |
Stock based compensation expense | 3,958 | ' | 3,958 | ' | ' |
Stock activity under incentive comp plans | 1,744 | 386 | 1,674 | -316 | ' |
Balance at Dec. 31, 2013 | $1,162,640 | $99,859 | $900,254 | $206,993 | ($44,466) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities | ' | ' | ' |
Net income | $100,920 | $91,675 | $72,460 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' |
Depreciation | 11,227 | 11,306 | 9,674 |
Amortization and impairment of other intangible assets | 8,162 | 7,941 | 8,829 |
Net premium amortization on investment securities | 16,573 | 13,816 | 12,135 |
(Increase) decrease in FDIC indemnification asset | 28,111 | 51,976 | -1,592 |
Stock compensation expense | 3,958 | 3,317 | 3,436 |
Provision expense (income) for loan losses | -2,319 | 5,030 | 7,473 |
Net securities gains | -4,341 | -15,052 | -8,691 |
Impairment on available-for-sale securities | 1,000 | 1,414 | 1,409 |
Recognition of deferred gain on sale leaseback transactions | -6,476 | -6,423 | -7,864 |
Gain on derivatives | -176 | -820 | -974 |
Gain on branch divestitures | -2,894 | ' | ' |
Net gains on sales and write-downs of loans and other assets | -3,331 | -1,547 | -2,677 |
Loss on retirement of debt | 993 | 1,949 | 789 |
Increase in cash surrender value of company-owned life insurance | -4,492 | -6,103 | -5,295 |
Residential real estate loans originated for sale | -143,387 | -86,665 | -84,303 |
Proceeds from sale of residential real estate loans | 152,225 | 83,912 | 93,757 |
(Increase) decrease in interest receivable | -3,222 | -13 | 4,725 |
Decrease in other real estate owned | 16,084 | 6,356 | 11,156 |
(Increase) decrease in other assets | -14,927 | -33,149 | 16,363 |
Increase (decrease) in accrued expenses and other liabilities | 11,723 | -14,630 | 12,276 |
Total adjustments | 64,491 | 22,615 | 70,626 |
Net cash flows provided by operating activities | 165,411 | 114,290 | 143,086 |
Cash Flows From Investing Activities | ' | ' | ' |
Cash and cash equivalents of acquired banks and branches | 530,000 | 78,540 | 398,558 |
Payments related to branch divestitures | -168,268 | ' | -106,392 |
Cash paid in bank and trust assets | ' | ' | -152,565 |
Purchases of investment securities available-for-sale | -1,231,117 | -1,031,124 | -550,934 |
Purchases of investment securities held-to-maturity | -31,841 | ' | ' |
Proceeds from maturities, prepayments and calls of investment securities available-for-sale | 632,614 | 591,735 | 521,553 |
Proceeds from sale of trading securities | ' | ' | 1,078 |
Proceeds from sales of investment securities available-for-sale | 231,806 | 227,566 | 545,995 |
Proceeds from maturities, prepayments and calls of investment securities held-to-maturity | 25,208 | 31,507 | 154,675 |
Proceeds from redemption of Federal Home Loan Bank stock | ' | ' | 18,622 |
Purchase of Federal Home Loan Bank stock | -2,657 | ' | ' |
Proceeds from sale of loans and leases | 114,527 | 2,355 | 5,364 |
Reimbursement under FDIC loss share agreements | 19,527 | 48,223 | 660 |
Net principal collected from (loans made to) loan customers | -3,622 | 54,720 | 180,358 |
Proceeds from sale of premises and equipment and other assets | 3,394 | 3,498 | 487 |
Purchases of premises and equipment and other assets | -18,617 | -18,712 | -11,486 |
Net cash flows provided by (used in) investing activities | 100,954 | -11,692 | 1,005,973 |
Cash Flows From Financing Activities | ' | ' | ' |
Deposits | -454,837 | -117,663 | -841,885 |
Short-term borrowings | -127,483 | 164,965 | 56,434 |
Payments for maturities on other borrowings | -2,521 | -3,087 | -153,383 |
Payments related to retirement of debt | -50,993 | -67,949 | -211,228 |
Proceeds from issuance of other borrowings | 375,000 | ' | ' |
Cash dividends paid on common stock | -40,278 | -34,657 | -26,513 |
Common stock repurchased | -24,292 | -3,990 | -1,526 |
Proceeds from exercise of stock options, including tax benefit | 1,412 | 717 | 140 |
Common stock issued | 290 | 254 | 222 |
Net cash flows provided by (used in) financing activities | -323,702 | -61,410 | -1,177,739 |
Net increase (decrease) in cash and cash equivalents | -57,337 | 41,188 | -28,680 |
Cash and cash equivalents at beginning of period | 264,060 | 222,872 | 251,552 |
Cash and cash equivalents at end of period | $206,723 | $264,060 | $222,872 |
Nature_of_Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Nature of Operations | ' |
NATURE OF OPERATIONS | |
Old National Bancorp, a financial holding company headquartered in Evansville, Indiana, operates primarily in Indiana, southeast Illinois, western Kentucky, and southwest Michigan. Its principal subsidiaries include Old National Bank, ONB Insurance Group, Inc., and American National Trust & Investment Management Corp. Through its bank and non-bank affiliates, Old National Bancorp provides to its clients an array of financial services including loan, deposit, wealth management, investment consulting, investment and insurance products. |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation and Significant Accounting Policies | ' | ||||||||||||
NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||
BASIS OF PRESENTATION | |||||||||||||
The accompanying consolidated financial statements include the accounts of Old National Bancorp and its wholly-owned affiliates (hereinafter collectively referred to as “Old National”) and have been prepared in conformity with accounting principles generally accepted in the United States and prevailing practices within the banking industry. Such principles require management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The allowance for loan losses, valuation of purchased loans, FDIC indemnification asset, valuation and impairment of securities, goodwill and intangibles, derivative financial instruments, and income taxes are particularly subject to change. In the opinion of management, the consolidated financial statements contain all the normal and recurring adjustments necessary for a fair statement of the financial position of Old National as of December 31, 2013 and 2012, and the results of its operations and cash flows for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
All significant intercompany transactions and balances have been eliminated. A summary of the more significant accounting and reporting policies used in preparing the statements is presented below. | |||||||||||||
TRADING SECURITIES | |||||||||||||
Trading securities consist of investments in various mutual funds held in grantor trusts formed by Monroe Bancorp in connection with a deferred compensation plan. These mutual funds are recorded as trading securities at fair value. Gains and losses are included in net securities gains. | |||||||||||||
INVESTMENT SECURITIES | |||||||||||||
Old National classifies investment securities as available-for-sale or held-to-maturity on the date of purchase. Securities classified as available-for-sale are recorded at fair value with the unrealized gains and losses, net of tax effect, recorded in other comprehensive income. Realized gains and losses affect income and the prior fair value adjustments are reclassified within shareholders’ equity. Securities classified as held-to-maturity, which management has the intent and ability to hold to maturity, are reported at amortized cost. Premiums and discounts are amortized on the level-yield method. Anticipated prepayments are considered when amortizing premiums and discounts on mortgage backed securities. Gains and losses on the sale of available-for-sale securities are determined using the specific-identification method. | |||||||||||||
Other-Than-Temporary- Impairment – Management evaluates securities for other-than-temporary-impairment at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near term prospects of the issuer including an evaluation of credit ratings, (3) whether the market decline was affected by macroeconomic conditions, (4) the intent of Old National to sell a security, and (5) whether it is more likely than not Old National will have to sell the security before recovery of its cost basis. If Old National intends to sell an impaired security, Old National records an other-than-temporary loss in an amount equal to the entire difference between fair value and amortized cost. If a security is determined to be other-than-temporarily-impaired, but Old National does not intend to sell the security and it is not more likely than not that it will be required to sell the security, only the credit portion of the estimated loss is recognized in earnings, with the other portion of the loss recognized in other comprehensive income. See Note 4 to the consolidated financial statements for a detailed description of the quarterly evaluation process. | |||||||||||||
FEDERAL HOME LOAN BANK (FHLB) STOCK | |||||||||||||
Old National is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |||||||||||||
RESIDENTIAL LOANS HELD FOR SALE | |||||||||||||
Residential loans that Old National has committed to sell are classified as loans held for sale and are recorded in accordance with FASB ASC 825-10 (SFAS No. 159) at fair value, determined individually, as of the balance sheet date. The loans fair value includes the servicing value of the loans as well as any accrued interest. | |||||||||||||
LOANS | |||||||||||||
Loans that Old National intends to hold for investment purposes are classified as portfolio loans. Portfolio loans are carried at the principal balance outstanding, net of earned interest, purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on the principal balances of loans outstanding. For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in the process of collection, or earlier when concern exists as to the ultimate collectibility of principal or interest. Interest accrued during the current year on such loans is reversed against earnings. Interest accrued in the prior year, if any, is charged to the allowance for loan losses. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, remain current for six months and future payments are reasonably assured. | |||||||||||||
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan and lease losses. In determining the estimated fair value of purchased loans, management considers a number of factors including the remaining life of the acquired loans, estimated prepayments, estimated loss ratios, estimated value of the underlying collateral, net present value of cash flows expected to be received, among others. Purchased loans are accounted for in accordance with guidance for certain loans acquired in a transfer, when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the acquirer will not collect all contractually required principal and interest payments. The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference. Subsequent decreases to the expected cash flows will generally result in a provision for loan and lease losses. Subsequent increases in cash flows will result in a reversal of the provision for loan losses to the extent of prior charges and then an adjustment to accretable yield, which would have a positive impact on interest income. | |||||||||||||
ALLOWANCE FOR LOAN LOSSES | |||||||||||||
The allowance for loan losses is maintained at a level believed adequate by management to absorb probable losses incurred in the loan portfolio. Management’s evaluation of the adequacy of the allowance is an estimate based on reviews of individual loans, pools of homogeneous loans, assessments of the impact of current economic conditions on the portfolio, and historical loss experience. The allowance is increased through a provision charged to operating expense. Loans deemed to be uncollectible are charged to the allowance. Recoveries of loans previously charged-off are added to the allowance. | |||||||||||||
For all loan classes, a loan is considered impaired when it is probable that contractual interest and principal payments will not be collected either for the amounts or by the dates as scheduled in the loan agreement. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Old National’s policy for recognizing income on impaired loans is to accrue interest unless a loan is placed on nonaccrual status. | |||||||||||||
Acquired loans accounted for under ASC Topic 310-30 accrue interest, even though they may be contractually past due, as any nonpayment of contractual principal or interest is considered in the periodic re-estimation of expected cash flows and is included in the resulting recognition of current period covered loan loss provision or prospective yield adjustments. | |||||||||||||
It is Old National’s policy to charge off small commercial loans scored through our small business credit center with contractual balances under $250,000 that have been placed on nonaccrual status or became ninety days or more delinquent, without regard to the collateral position. | |||||||||||||
For all portfolio segments, the general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by Old National over the most relevant three years. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. | |||||||||||||
Further information regarding Old National’s policies and methodology used to estimate the allowance for loan losses is presented in Note 6. | |||||||||||||
PREMISES AND EQUIPMENT | |||||||||||||
Premises and equipment are stated at cost less accumulated depreciation. Land is stated at cost. Depreciation is charged to operating expense over the useful lives of the assets, principally on the straight-line method. Useful lives for premises and equipment are as follows: buildings and building improvements – 15 to 39 years; and furniture and equipment – 3 to 10 years. Leasehold improvements are depreciated over the lesser of their useful lives or the term of the lease. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Interest costs on construction of qualifying assets are capitalized. | |||||||||||||
Premises and equipment are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are adjusted to fair value. Such impairments are included in other expense. | |||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||
The excess of the cost of acquired entities over the fair value of identifiable assets acquired less liabilities assumed is recorded as goodwill. In accordance with FASB ASC 350 (SFAS No. 142, Goodwill and Other Intangible Assets), amortization on goodwill and indefinite-lived assets is not recorded. However, the recoverability of goodwill and other intangible assets are annually tested for impairment. Other intangible assets, including core deposits and customer business relationships, are amortized primarily on an accelerated cash flow basis over their estimated useful lives, generally over a period of 7 to 25 years. | |||||||||||||
COMPANY OWNED LIFE INSURANCE | |||||||||||||
Old National has purchased life insurance policies on certain key executives. Old National records company owned life insurance at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. The amount of company owned life insurance at December 31, 2013 and 2012 was $275.1 million and $270.6 million, respectively. | |||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | |||||||||||||
As part of Old National’s overall interest rate risk management, Old National uses derivative instruments, including interest rate swaps, caps and floors. All derivative instruments are recognized on the balance sheet at their fair value in accordance with ASC 815, as amended. At the inception of the derivative contract, Old National will designate the derivative as (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). For derivatives that are designated and qualify as a fair value hedge, the change in value of the derivative, as well as the offsetting change in value of the hedged item attributable to the hedged risk, are recognized in current earnings during the period of the change in fair values. For derivatives that are designated and qualify as a cash flow hedge, the effective portion of the change in value on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. For all hedging relationships, changes in fair value of derivatives that are not effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings during the period of the change. Similarly, the changes in the fair value of derivatives that do not qualify for hedge accounting under ASC Topic 815 are also reported currently in earnings, in noninterest income. | |||||||||||||
The accrued net settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, consistent with the item being hedged. | |||||||||||||
Old National formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivative instruments that are designated as fair-value or cash-flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. Old National also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. Old National discontinues hedge accounting prospectively when it is determined that (1) the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item; (2) the derivative expires, is sold, or terminated; (3) the derivative instrument is de-designated as a hedge because the forecasted transaction is no longer probable of occurring; (4) a hedged firm commitment no longer meets the definition of a firm commitment; (5) or management otherwise determines that designation of the derivative as a hedging instrument is no longer appropriate. | |||||||||||||
When hedge accounting is discontinued, the future changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transaction is still expected to occur, changes in value that were accumulated in other comprehensive income are amortized or accreted into earnings over the same periods which the hedged transactions will affect earnings. | |||||||||||||
Old National enters into various stand-alone mortgage-banking derivatives in order to hedge the risk associated with the fluctuation of interest rates. Changes in fair value are recorded as mortgage banking revenue. Old National also enters into various stand-alone derivative contracts to provide derivative products to customers which are carried at fair value with changes in fair value recorded as other noninterest income. | |||||||||||||
Old National is exposed to losses if a counterparty fails to make its payments under a contract in which Old National is in the net receiving position. Old National anticipates that the counterparties will be able to fully satisfy their obligations under the agreements. In addition, Old National obtains collateral above certain thresholds of the fair value of its hedges for each counterparty based upon their credit standing. All of the contracts to which Old National is a party settle monthly, quarterly or semiannually. Further, Old National has netting agreements with the dealers with which it does business. | |||||||||||||
CREDIT-RELATED FINANCIAL INSTRUMENTS | |||||||||||||
In the ordinary course of business, Old National’s affiliate bank has entered into credit-related financial instruments consisting of commitments to extend credit, commercial letters of credit and standby letters of credit. The notional amount of these commitments is not reflected in the consolidated financial statements until they are funded. | |||||||||||||
FORECLOSED ASSETS | |||||||||||||
Other assets include real estate properties acquired as a result of foreclosure and repossessed personal property and are initially recorded at the fair value of the property less estimated cost to sell. Any excess recorded investment over the fair value of the property received is charged to the allowance for loan losses. Any subsequent write-downs are charged to expense, as are the costs of operating the properties. The amount of foreclosed assets at December 31, 2013 and 2012 was $21.2 million and $37.3 million, respectively. Included in foreclosed assets at December 31, 2013 and 2012 is approximately $13.7 million and $26.1 million, respectively, of covered other real estate owned from the Integra acquisition (see discussion below regarding covered assets). | |||||||||||||
SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | |||||||||||||
We purchase certain securities, generally U.S. government-sponsored entity and agency securities, under agreements to resell. The amounts advanced under these agreements represent short-term secured loans and are reflected as assets in the accompanying consolidated balance sheets. We also sell certain securities under agreements to repurchase. These agreements are treated as collateralized financing transactions. These secured borrowings are reflected as liabilities in the accompanying consolidated balance sheets and are recorded at the amount of cash received in connection with the transaction. Short-term securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements can be repledged by the secured party. Additional collateral may be required based on the fair value of the underlying securities. | |||||||||||||
COVERED ASSETS, LOSS SHARE AGREEMENTS AND INDEMNIFICATION ASSET | |||||||||||||
On July 29, 2011, Old National acquired the banking operations of Integra in an FDIC assisted transaction. As part of the purchase and assumption agreement, Old National and the FDIC entered into loss sharing agreements (each, a “loss sharing agreement” and collectively, the “loss sharing agreements”), whereby the FDIC will cover a substantial portion of any future losses on loans (and related unfunded commitments), OREO and up to 90 days of certain accrued interest on loans. The acquired loans and OREO subject to the loss sharing agreements are referred to collectively as “covered assets.” Under the loss sharing agreements, the FDIC will reimburse Old National for 80% of expenses and valuation write-downs related to covered assets up to $275.0 million, losses in excess of $275.0 million up to $467.2 million at 0%, and 80% of losses in excess of $467.2 million. Old National will reimburse the FDIC for its share of recoveries with respect to losses for which the FDIC has previously reimbursed Old National under the loss sharing agreements. The loss sharing provisions of the agreements for commercial and single family residential mortgage loans are in effect for five and ten years, respectively, from the July 29, 2011 acquisition date and the loss recovery provisions for such loans are in effect for eight years and ten years, respectively, from the acquisition date. | |||||||||||||
Loans were recorded at fair value in accordance with ASC Topic 805, Business Combinations. No allowance for loan losses related to the acquired loans is recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820, exclusive of the loss share agreements with the FDIC. These loans were aggregated into pools of loans based on common risk characteristics such as credit score, loan type and date of origination. The fair value estimates associated with these pools of loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. | |||||||||||||
Because the FDIC will reimburse us for losses incurred on certain acquired loans, an indemnification asset (FDIC loss share receivable) is recorded at fair value at the acquisition date. The indemnification asset is recognized at the same time as the indemnified loans, and measured on the same basis, subject to collectibility or contractual limitations. The loss share agreements on the acquisition date reflect the reimbursements expected to be received from the FDIC, using an appropriate discount rate, which reflects counterparty credit risk and other uncertainties. The carrying value of the indemnification asset at December 31, 2013 and 2012 was $88.5 million and $116.6 million, respectively. In October 2012, the FASB issued ASU No. 2012-06, which provides guidance for when there is a change in the cash flows expected to be collected on an indemnification asset. This update is consistent with our current accounting treatment of changes in expected cash flows and the indemnification asset. | |||||||||||||
The loss share agreements continue to be measured on the same basis as the related indemnified loans. Because the acquired loans are subject to the accounting prescribed by ASC Topic 310, subsequent changes to the basis of the loss share agreements also follow that model. Deterioration in our expectation of credit quality of the loans or OREO would immediately increase the basis of the loss share agreements, with the offset recorded through the consolidated statement of income. Increases in the credit quality or cash flows of loans (reflected as an adjustment to yield and accreted into income over the remaining life of the loans) decrease the basis of the loss share agreements, with the decrease being amortized into income over the same period or the life of the loss share agreements, whichever is shorter. Loss assumptions used in the basis of the indemnified loans are consistent with the loss assumptions used to measure the indemnification asset. Initial fair value accounting incorporates into the fair value of the indemnification asset an element of the time value of money, which is accreted back into income over the life of the loss share agreements. | |||||||||||||
NET INCOME PER SHARE | |||||||||||||
Basic net income per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during each year. Diluted net income per share is computed as above and assumes the conversion of outstanding stock options and restricted stock. | |||||||||||||
The following table reconciles basic and diluted net income per share for the years ended December 31. | |||||||||||||
EARNINGS PER SHARE RECONCILIATION | |||||||||||||
(dollars and shares in thousands, | 2013 | 2012 | 2011 | ||||||||||
except per share data) | |||||||||||||
Basic Earnings Per Share | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Weighted average common shares outstanding | 100,712 | 96,440 | 94,467 | ||||||||||
Basic Earnings Per Share | $ | 1 | $ | 0.95 | $ | 0.76 | |||||||
Diluted Earnings Per Share | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Weighted average common shares outstanding | 100,712 | 96,440 | 94,467 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Restricted stock (1) | 455 | 379 | 285 | ||||||||||
Stock options (2) | 31 | 14 | 20 | ||||||||||
Weighted average shares outstanding | 101,198 | 96,833 | 94,772 | ||||||||||
Diluted Earnings Per Share | $ | 1 | $ | 0.95 | $ | 0.76 | |||||||
-1 | 0, 6 and 6 shares of restricted stock and restricted stock units were not included in the computation of net income per diluted share at December 31, 2013, 2012 and 2011, respectively, because the effect would be antidilutive. | ||||||||||||
-2 | Options to purchase 1,007 shares, 3,284 shares and 4,606 shares outstanding at December 31, 2013, 2012, and 2011, respectively, were not included in the computation of net income per diluted share because the exercise price of these options was greater than the average maket price of the common shares and, therefore, the effect would be antidilutive. | ||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||
Compensation cost is recognized for stock options and restricted stock awards and units issued to employees based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of our common stock at the date of grant is used for restricted stock awards. A third party provider is used to value certain restricted stock units where the performance measure is based on total shareholder return. Compensation expense is recognized over the requisite service period. | |||||||||||||
INCOME TAXES | |||||||||||||
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |||||||||||||
We recognize a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | |||||||||||||
We recognize interest and/or penalties related to income tax matters in income tax expense. | |||||||||||||
LOSS CONTINGENCIES | |||||||||||||
Loss contingencies, including claims and legal actions arising in the normal course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. See Note 20 to the consolidated financial statements for further disclosure. | |||||||||||||
STATEMENT OF CASH FLOWS DATA | |||||||||||||
For the purpose of presentation in the accompanying consolidated statement of cash flows, cash and cash equivalents are defined as cash, due from banks, federal funds sold and resell agreements, and money market investments, which have maturities less than 90 days. Cash paid during 2013, 2012 and 2011 for interest was $25.8 million, $38.4 million and $59.5 million, respectively. Cash paid for income tax, net of refunds, was a payment of $11.8 million during 2013, a payment of $24.2 million during 2012 and a payment of $4.6 million during 2011, respectively. Other noncash transactions include loans transferred to loans held for sale of $102.8 million in 2013, $1.7 million in 2012 and $5.4 million in 2011, leases transferred to held for sale of $11.6 million in 2013, transfers of securities from the available-for-sale portfolio to the held-to-maturity portfolio of $357.8 million in 2013 and transfers of securities from the held-to-maturity portfolio to the available-for-sale portfolio of $46.1 million in 2012. Approximately 6.6 million shares of common stock, valued at approximately $88.5 million, were issued in the acquisition of Indiana Community Bancorp on September 15, 2012. Approximately 7.6 million shares of common stock, valued at approximately $90.1 million, were issued in the acquisition of Monroe Bancorp on January 1, 2011. | |||||||||||||
IMPACT OF ACCOUNTING CHANGES | |||||||||||||
FASB ASC 805 – In October 2012, the FASB issued an update (ASU No. 2012-06, Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution) impacting FASB ASC 805, Business Combinations. This update specifies that when an entity recognizes an indemnification asset as a result of a government-assisted acquisition of a financial institution and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs, the entity should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). This update became effective for interim and annual periods beginning on or after December 15, 2012, and is consistent with our accounting treatment of changes in expected cash flows and the indemnification asset and did not have a material impact on the consolidated financial statements. | |||||||||||||
FASB ASC 220 – In February 2013, the FASB issued an update (ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income) impacting FASB ASC 220, Comprehensive Income. This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about these amounts. This update became effective for Old National for interim and annual periods beginning after December 15, 2012 and did not have a material impact on the consolidated financial statements. | |||||||||||||
FASB ASC 405 – In February 2013, the FASB issued an update (ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date) impacting FASB ASC 405, Liabilities. This update requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date as the sum of (1) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. This update also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. This update becomes effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. | |||||||||||||
FASB ASC 405 – In July 2013, the FASB issued an update (ASU No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes) impacting FASB ASC 815, Derivatives and Hedging. This update permits the Fed Funds Effective Swap Rate (Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate. This will provide a more comprehensive spectrum of interest rate resets to utilize as the designated benchmark interest rate risk component under the hedge accounting guidance. The amendments in this update are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013 and did not have a material impact on the consolidated financial statements. | |||||||||||||
FASB ASC 323 – In January 2014, the FASB issued an update (ASU No. 2014-01, Accounting for Investments in Qualified Affordable Housing Projects) impacting FASB ASC 323, Investments – Equity Method and Joint Ventures. This update permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2014 and should be applied retrospectively. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. | |||||||||||||
FASB ASC 310 – In January 2014, the FASB issued an update (ASU No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure) impacting FASB ASC 310-40. The amendments in this update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the property in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments also require disclosure of (1) the amount of foreclosed residential real estate property held by the creditor (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. | |||||||||||||
RECLASSIFICATIONS | |||||||||||||
Certain prior year amounts have been reclassified to conform to the 2013 presentation. Such reclassifications had no effect on net income or shareholders’ equity and were insignificant amounts. |
Acquisition_and_Divestiture_Ac
Acquisition and Divestiture Activity | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Acquisition and Divestiture Activity | ' | ||||||||
NOTE 2 – ACQUISITION AND DIVESTITURE ACTIVITY | |||||||||
Acquisitions | |||||||||
Indiana Community Bancorp | |||||||||
On September 15, 2012, Old National acquired 100% of Indiana Community Bancorp (“IBT”) in an all stock transaction. IBT was headquartered in Columbus, Indiana and had 17 full-service banking centers serving the South Central Indiana area. The acquisition enhanced Old National’s position as the third largest branch network in Indiana and allowed Old National to enter into the vibrant, growing region of south central Indiana in a rapid and cost effective manner. We also believed opportunities to enhance income and improve efficiencies existed. Pursuant to the merger agreement, the shareholders of IBT received approximately 6.6 million shares of Old National stock valued at approximately $88.5 million. | |||||||||
Under the acquisition method of accounting, the total estimated purchase price is allocated to IBT’s net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. The purchase price for the IBT acquisition was allocated as follows (in thousands): | |||||||||
Cash and cash equivalents | $ | 78,540 | |||||||
Investment securities - available for sale | 147,710 | ||||||||
Federal Home Loan Bank stock, at cost | 7,092 | ||||||||
Loans | 497,434 | ||||||||
Premises and equipment | 13,345 | ||||||||
Accrued interest receivable | 2,165 | ||||||||
Other real estate owned | 6,111 | ||||||||
Company-owned life insurance | 15,833 | ||||||||
Other assets | 49,655 | ||||||||
Deposits | (784,589 | ) | |||||||
Other borrowings | (15,464 | ) | |||||||
Accrued expenses and other liabilities | (18,564 | ) | |||||||
Net tangible assets acquired | (732 | ) | |||||||
Definite-lived intangible assets acquired | 3,024 | ||||||||
Goodwill | 86,205 | ||||||||
Purchase price | $ | 88,497 | |||||||
Of the total purchase price, $0.7 million has been allocated to net tangible liabilities acquired and $3.0 million has been allocated to definite-lived intangible assets acquired. The remaining purchase price has been allocated to goodwill. The goodwill will not be deductible for tax purposes and is included in the “Banking” and “Other” segments, as described in Note 24 of these consolidated financial statement footnotes. | |||||||||
The components of the estimated fair value of the acquired identifiable intangible assets are in the table below. These intangible assets will be amortized on an accelerated basis over their estimated lives and are included in the “Banking” and “Other” segments, as described in Note 24 of these consolidated financial statement footnotes. | |||||||||
Estimated | Estimated | ||||||||
Fair Value | Useful Lives (Years) | ||||||||
(in millions) | |||||||||
Core deposit intangible | $ | 1.3 | 7 | ||||||
Trust customer relationship intangible | $ | 1.7 | 12 | ||||||
Bank of America | |||||||||
On January 9, 2013, Old National announced that it had entered into a purchase and assumption agreement to acquire 24 bank branches of Bank of America. Four of the branches are located in northern Indiana and 20 branches are located in southwest Michigan. The Company paid a deposit premium of 2.94%. The acquisition has doubled Old National’s presence in the South Bend/Elkhart area and provided a logical market extension into southwest Michigan. The premium paid for our entrance into a new market drove the goodwill recorded in this transaction. The transaction closed on July 12, 2013. | |||||||||
Under the acquisition method of accounting, the total estimated purchase price is allocated to the net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on management’s preliminary valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on assumptions that are subject to change, the purchase price for the Bank of America branch acquisition is allocated as follows (in thousands): | |||||||||
Cash and cash equivalents | $ | 562,906 | |||||||
Loans | 5,638 | ||||||||
Premises and equipment | 12,559 | ||||||||
Accrued interest receivable | 15 | ||||||||
Other assets | 331 | ||||||||
Deposits | (565,106 | ) | |||||||
Accrued expenses and other liabilities | (246 | ) | |||||||
Net tangible assets acquired | 16,097 | ||||||||
Definite-lived intangible assets acquired | 3,462 | ||||||||
Goodwill | 13,347 | ||||||||
Purchase price | $ | 32,906 | |||||||
The acquired identifiable intangible asset is core deposit intangible and the estimated fair value is approximately $3.5 million. The core deposit intangible asset will be amortized over an estimated useful life of 7 years and is included in the “Banking” segment, as described in Note 24 of these consolidated financial statement footnotes. The goodwill recorded in the transaction will be deductible for tax purposes and is included in the “Banking” segment. | |||||||||
Pending Acquisitions | |||||||||
On September 10, 2013, Old National announced that it had entered into an agreement to acquire Tower Financial Corporation (“Tower”) through a stock and cash merger. Tower is an Indiana bank holding company with Tower Bank & Trust Company as its wholly-owned subsidiary. Headquartered in Fort Wayne, Indiana, Tower has seven banking centers with approximately $691 million in assets and an additional $743 million in trust assets under management at December 31, 2013. The merger would strengthen Old National’s position as the third largest deposit holder in Indiana. Pursuant to the merger agreement, Tower’s shareholders will receive 1.20 shares of Old National common stock and $6.75 in cash for each share of Tower common stock. As of September 5, 2013, the transaction was valued at approximately $107.7 million. The transaction is subject to approval by federal and state regulatory authorities, as well as the satisfaction of customary closing conditions. | |||||||||
On January 8, 2014, Old National announced that it had entered into an agreement to acquire United Bancorp, Inc. (“United”) through a stock and cash merger. United is a Michigan bank holding company with United Bank & Trust as its wholly-owned subsidiary. Headquartered in Ann Arbor, Michigan, United has eighteen banking centers with approximately $899 million in assets and an additional $670 million in trust assets under management at December 31, 2013. Pursuant to the merger agreement, shareholders of United will receive 0.70 shares of Old National common stock and $2.66 in cash for each share of United common stock. As of January 6, 2014, the transaction was valued at approximately $173.1 million. The transaction is subject to approval by federal and state regulatory authorities and United’s shareholders, as well as the satisfaction of customary closing conditions. | |||||||||
Divestitures | |||||||||
On August 16, 2012, Old National announced plans to sell the deposits of nine banking centers located in southern Illinois and western Kentucky. As such, these deposits were considered held for sale as of December 31, 2012. During the first quarter of 2013 these deposits were sold. Deposits at the time of sale were approximately $150.0 million and the Company received a deposit premium of $2.2 million. | |||||||||
On September 5, 2013, Old National entered into branch purchase and assumption agreements to sell three banking centers in the fourth quarter of 2013. The banking centers were sold during the fourth quarter and deposits at the time of sale were approximately $28.2 million and we received a deposit premium of $650 thousand. | |||||||||
As part of our continuing efforts to provide an efficient and effective branch banking network, Old National has also consolidated 23 banking centers into existing branch locations during the last twelve months. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) (“AOCI”) net of tax for 2013 and summarizes the significant amounts reclassified out of each component of AOCI: | |||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2013 (a) | |||||||||||||||||||||
Unrealized Gains | Unrealized Gains | Gains and | Defined | Total | |||||||||||||||||
and Losses on | and Losses on | Losses on | Benefit | ||||||||||||||||||
Available-for-Sale | Held-to-Maturity | Cash Flow | Pension | ||||||||||||||||||
Securities | Securities | Hedges | Plans | ||||||||||||||||||
AOCI at January 1, 2013 | $ | 39,054 | $ | 3,269 | $ | — | $ | (12,522 | ) | $ | 29,801 | ||||||||||
Other comprehensive income (loss) before reclassifications | (57,958 | ) | (20,224 | ) | (190 | ) | — | (78,372 | ) | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) (b) | (2,204 | ) | 188 | — | 6,121 | 4,105 | |||||||||||||||
Net current-period other comprehensive income (loss) | (60,162 | ) | (20,036 | ) | (190 | ) | 6,121 | (74,267 | ) | ||||||||||||
AOCI at December 31, 2013 | $ | (21,108 | ) | $ | (16,767 | ) | $ | (190 | ) | $ | (6,401 | ) | $ | (44,466 | ) | ||||||
(a) | All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||
(b) | See table below for details about reclassifications. | ||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2013 (a) | |||||||||||||||||||||
Details about Accumulated | Amount Reclassified from | Affected Line Item in the Statement | |||||||||||||||||||
Other Comprehensive Income | Accumulated Other | Where Net Income is Presented | |||||||||||||||||||
(Loss) Components | Comprehensive Income (Loss) | ||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | |||||||||||||||||||||
$ | 4,341 | Net securities gains | |||||||||||||||||||
(1,000 | ) | Impairment losses | |||||||||||||||||||
3,341 | Total before tax | ||||||||||||||||||||
(1,137 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 2,204 | Net of tax | |||||||||||||||||||
Unrealized gains and losses on held-to-maturity securities | |||||||||||||||||||||
$ | (225 | ) | Interest income/(expense) | ||||||||||||||||||
37 | Tax (expense) or benefit | ||||||||||||||||||||
$ | (188 | ) | Net of tax | ||||||||||||||||||
Gains and losses on cash flow hedges Interest rate contracts | $ | — | Interest income/(expense) | ||||||||||||||||||
— | Tax (expense) or benefit | ||||||||||||||||||||
$ | — | Net of tax | |||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||
Acturial gains/(losses) | $ | (10,337 | ) | (b) | |||||||||||||||||
4,216 | Tax (expense) or benefit | ||||||||||||||||||||
$ | (6,121 | ) | Net of tax | ||||||||||||||||||
Total reclassifications for the period | $ | (4,105 | ) | Net of tax | |||||||||||||||||
(a) | Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||||||
(b) | This accumulated other comprehensive income (loss) component is included in the computation of net periodic | ||||||||||||||||||||
pension cost. See Note 14 for additional details on our pension plans. | |||||||||||||||||||||
The following tables summarize the changes within each classification of AOCI net of tax for 2012 and summarizes the significant amounts reclassified out of each component of AOCI: | |||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income by Component | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2012 (a) | |||||||||||||||||||||
Unrealized Gains | Unrealized Gains | Gains and | Defined | ||||||||||||||||||
and Losses on | and Losses on | Losses on | Benefit | ||||||||||||||||||
Available-for-Sale | Held-to-Maturity | Cash Flow | Pension | ||||||||||||||||||
Securities | Securities | Hedges | Plans | Total | |||||||||||||||||
Balance at January 1, 2012 | $ | 24,612 | $ | 4,745 | $ | 145 | $ | (14,498 | ) | $ | 15,004 | ||||||||||
Other comprehensive income (loss) before reclassifications | 22,808 | (954 | ) | — | — | 21,854 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) (b) | (8,366 | ) | (522 | ) | (145 | ) | 1,976 | (7,057 | ) | ||||||||||||
Net current-period other comprehensive income (loss) | 14,442 | (1,476 | ) | (145 | ) | 1,976 | 14,797 | ||||||||||||||
Balance at December 31, 2012 | $ | 39,054 | $ | 3,269 | $ | — | $ | (12,522 | ) | $ | 29,801 | ||||||||||
(a) | All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||
(b) | See table below for details about reclassifications. | ||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2012 | |||||||||||||||||||||
Details about Accumulated | Amount Reclassified from | ||||||||||||||||||||
Other Comprehensive Income | Accumulated Other | Affected Line Item in the Statement | |||||||||||||||||||
(Loss) Components | Comprehensive Income (Loss) | Where Net Income is Presented | |||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | |||||||||||||||||||||
$ | 15,052 | Net securities gains | |||||||||||||||||||
(1,414 | ) | Impairment losses | |||||||||||||||||||
13,638 | Total before tax | ||||||||||||||||||||
(5,272 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 8,366 | Net of tax | |||||||||||||||||||
Unrealized gains and losses on held-to-maturity securities | |||||||||||||||||||||
$ | 870 | Interest income/(expense) | |||||||||||||||||||
(348 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 522 | Net of tax | |||||||||||||||||||
Gains and losses on cash flow hedges Interest rate contracts | $ | 240 | Interest income/(expense) | ||||||||||||||||||
(95 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 145 | Net of tax | |||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||
Acturial gains/(losses) | $ | (3,294 | ) | (b) | |||||||||||||||||
1,318 | Tax (expense) or benefit | ||||||||||||||||||||
$ | (1,976 | ) | Net of tax | ||||||||||||||||||
Total reclassifications for the period | $ | 7,057 | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||||||
(b) | This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost. See Note 14 for additional details on our pension plans. |
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||||||||||||||
NOTE 4—INVESTMENT SECURITIES | |||||||||||||||||||||||||||||||||||||
The following tables summarize the amortized cost and fair value of the available-for-sale and held-to-maturity investment securities portfolio at December 31 and the corresponding amounts of unrealized gains and losses therein: | |||||||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||||||||||||||
(dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 12,995 | $ | 118 | $ | — | $ | 13,113 | |||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | 456,123 | 464 | (20,999 | ) | 435,588 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 1,300,135 | 15,690 | (26,567 | ) | 1,289,258 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Non-agency | 17,036 | 376 | — | 17,412 | |||||||||||||||||||||||||||||||||
States and political subdivisions | 260,398 | 10,112 | (1,715 | ) | 268,795 | ||||||||||||||||||||||||||||||||
Pooled trust prefered securities | 19,215 | — | (11,178 | ) | 8,037 | ||||||||||||||||||||||||||||||||
Other securities | 340,381 | 5,140 | (5,523 | ) | 339,998 | ||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 2,406,283 | $ | 31,900 | $ | (65,982 | ) | $ | 2,372,201 | ||||||||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | $ | 170,621 | $ | 7,749 | $ | — | $ | 178,370 | |||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 35,443 | 906 | (1 | ) | 36,348 | ||||||||||||||||||||||||||||||||
States and political subdivisions | 556,670 | 10,949 | (1,579 | ) | 566,040 | ||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 762,734 | $ | 19,604 | $ | (1,580 | ) | $ | 780,758 | ||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 11,437 | $ | 404 | $ | — | $ | 11,841 | |||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | 515,469 | 2,794 | (938 | ) | 517,325 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 1,130,991 | 33,244 | (447 | ) | 1,163,788 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Non-agency | 29,359 | 1,175 | (338 | ) | 30,196 | ||||||||||||||||||||||||||||||||
States and political subdivisions | 542,559 | 35,805 | (1,040 | ) | 577,324 | ||||||||||||||||||||||||||||||||
Pooled trust preferred securities | 24,884 | — | (15,525 | ) | 9,359 | ||||||||||||||||||||||||||||||||
Other securities | 182,070 | 10,473 | (1,592 | ) | 190,951 | ||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 2,436,769 | $ | 83,895 | $ | (19,880 | ) | $ | 2,500,784 | ||||||||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | $ | 173,936 | $ | 14,327 | $ | — | $ | 188,263 | |||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 56,612 | 2,307 | — | 58,919 | |||||||||||||||||||||||||||||||||
States and political subdivisions | 169,282 | 13,739 | — | 183,021 | |||||||||||||||||||||||||||||||||
Other securities | 2,998 | — | — | 2,998 | |||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 402,828 | $ | 30,373 | $ | — | $ | 433,201 | |||||||||||||||||||||||||||||
Proceeds from sales of investment securities available-for-sale were $231.8 million in 2013, $227.6 million in 2012 and $546.0 million in 2011. In 2013, realized gains were $4.7 million and losses were $1.0 million. Included in the losses is $0.1 million of losses that resulted from approximately $172.6 million of investment securities which were called by the issuers. Also impacting earnings in 2013 is $416 thousand of gains associated with the trading securities, $195 thousand of gains from mutual funds and a $1.0 million of other-than-temporary impairment charge related to credit loss on one trust preferred security, described below. In 2012, realized gains were $14.9 million. Included in the realized gains was $0.8 million of gains that resulted from approximately $148.6 million of investment securities which were called by the issuers. Also impacting earnings in 2012 are $165 thousand of gains associated with the trading securities and $1.4 million of other-than-temporary impairment charges related to credit losses on six non-agency mortgage-backed securities and two trust preferred securities, described below. In 2011, realized gains were $9.6 million and losses were $1.1 million. Included in the realized gains is $0.9 million of gains that resulted from approximately $362.4 million of investment securities which were called by the issuers. Also impacting earnings in 2011 are $21 thousand of gains associated with the trading securities, $158 thousand of gains from mutual funds and $1.4 million of other-than-temporary impairment charges related to credit losses on three non-agency mortgage-backed securities and one trust preferred security, described below. At December 31, investment securities were pledged to secure public and other funds with a carrying value of $1.1 billion in 2013 and $834 million in 2012. | |||||||||||||||||||||||||||||||||||||
Trading securities, which consist of mutual funds held in a trust associated with deferred compensation plans for former Monroe Bancorp directors and executives, are recorded at fair value and totaled $3.6 million at December 31, 2013 and $3.1 million at December 31, 2012. | |||||||||||||||||||||||||||||||||||||
At December 31, 2013, Old National had a concentration of investment securities issued by certain states and their political subdivisions with the following aggregate market values: $297.3 million by Indiana, which represented 25.6% of shareholders’ equity, and $136.5 million by Texas, which represented 11.7% of shareholders’ equity. 97% of the Indiana municipal bonds are rated “A” or better, and the remaining 3% generally represent non-rated local interest bonds where Old National has a market presence. All of the Texas municipal bonds are rated “AA” or better, and the majority of issues are backed by the “AAA” rated State of Texas Permanent School Fund Guarantee Program. At December 31, 2012, Old National had a concentration of investment securities issued by Indiana and its political subdivisions totaling $273.8 million, which represented 22.9% of shareholders’ equity. | |||||||||||||||||||||||||||||||||||||
All of the mortgage-backed securities in the investment portfolio are residential mortgage-backed securities. The amortized cost and fair value of the investment securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Weighted average yield is based on amortized cost. | |||||||||||||||||||||||||||||||||||||
2013 | Weighted | 2012 | Weighted | ||||||||||||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair | Average | Amortized | Fair | Average | |||||||||||||||||||||||||||||||
Maturity | Cost | Value | Yield | Cost | Value | Yield | |||||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||||||||||
Within one year | $ | 23,839 | $ | 23,884 | 3.52 | % | $ | 30,284 | $ | 30,544 | 3.19 | % | |||||||||||||||||||||||||
One to five years | 216,236 | 222,293 | 2.79 | 111,294 | 116,982 | 3.33 | |||||||||||||||||||||||||||||||
Five to ten years | 534,720 | 519,692 | 2.39 | 651,094 | 665,199 | 2.48 | |||||||||||||||||||||||||||||||
Beyond ten years | 1,631,488 | 1,606,332 | 2.46 | 1,644,097 | 1,688,059 | 3.17 | |||||||||||||||||||||||||||||||
Total | $ | 2,406,283 | $ | 2,372,201 | 2.48 | % | $ | 2,436,769 | $ | 2,500,784 | 2.99 | % | |||||||||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||||||||||||||
Within one year | $ | 72 | $ | 73 | 3.46 | % | $ | 3,066 | $ | 3,066 | 2.25 | % | |||||||||||||||||||||||||
One to five years | 15,035 | 15,757 | 4.02 | 2,355 | 2,427 | 3.35 | |||||||||||||||||||||||||||||||
Five to ten years | 164,138 | 169,345 | 3.19 | 144,701 | 153,882 | 2.94 | |||||||||||||||||||||||||||||||
Beyond ten years | 583,489 | 595,583 | 5.56 | 252,706 | 273,826 | 4.48 | |||||||||||||||||||||||||||||||
Total | $ | 762,734 | $ | 780,758 | 5.02 | % | $ | 402,828 | $ | 433,201 | 3.9 | % | |||||||||||||||||||||||||
The following table summarizes the investment securities with unrealized losses at December 31 by aggregated major security type and length of time in a continuous unrealized loss position: | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 1,900 | $ | — | $ | — | $ | — | $ | 1,900 | $ | — | |||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | 357,793 | (17,547 | ) | 38,988 | (3,452 | ) | 396,781 | (20,999 | ) | ||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 668,018 | (23,455 | ) | 41,200 | (3,112 | ) | 709,218 | (26,567 | ) | ||||||||||||||||||||||||||||
States and political subdivisions | 45,077 | (1,620 | ) | 2,812 | (95 | ) | 47,889 | (1,715 | ) | ||||||||||||||||||||||||||||
Pooled trust preferrred securities | — | — | 8,037 | (11,178 | ) | 8,037 | (11,178 | ) | |||||||||||||||||||||||||||||
Other securities | 209,915 | (2,706 | ) | 24,082 | (2,817 | ) | 233,997 | (5,523 | ) | ||||||||||||||||||||||||||||
Total available-for-sale | $ | 1,282,703 | $ | (45,328 | ) | $ | 115,119 | $ | (20,654 | ) | $ | 1,397,822 | $ | (65,982 | ) | ||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | $ | 21,370 | $ | (1 | ) | $ | — | $ | — | $ | 21,370 | $ | (1 | ) | |||||||||||||||||||||||
States and political subdivisions | 70,162 | (1,579 | ) | — | — | 70,162 | (1,579 | ) | |||||||||||||||||||||||||||||
Total held-to-maturity | $ | 91,532 | $ | (1,580 | ) | $ | — | $ | — | $ | 91,532 | $ | (1,580 | ) | |||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | $ | 201,151 | $ | (938 | ) | $ | — | $ | — | $ | 201,151 | $ | (938 | ) | |||||||||||||||||||||||
Mortgage-backed securities - Agency | 64,213 | (447 | ) | — | — | 64,213 | (447 | ) | |||||||||||||||||||||||||||||
Mortgage-backed securities - Non-agency | — | — | 5,696 | (338 | ) | 5,696 | (338 | ) | |||||||||||||||||||||||||||||
States and political subdivisions | 63,311 | (1,040 | ) | — | — | 63,311 | (1,040 | ) | |||||||||||||||||||||||||||||
Pooled trust preferrred securities | — | — | 9,359 | (15,525 | ) | 9,359 | (15,525 | ) | |||||||||||||||||||||||||||||
Other securities | 23,617 | (162 | ) | 6,658 | (1,430 | ) | 30,275 | (1,592 | ) | ||||||||||||||||||||||||||||
Total available-for-sale | $ | 352,292 | $ | (2,587 | ) | $ | 21,713 | $ | (17,293 | ) | $ | 374,005 | $ | (19,880 | ) | ||||||||||||||||||||||
During the third quarter of 2013, state and political subdivision securities with a fair value of $357.8 million were transferred from the available-for-sale portfolio to the held-to-maturity portfolio. The $31.0 million unrealized holding loss at the date of transfer shall continue to be reported as a separate component of shareholders’ equity and will be amortized over the remaining life of the securities as an adjustment of yield. The corresponding discount on these securities will offset this adjustment to yield as it is amortized. We moved these securities to our held-to-maturity portfolio to better align with the percentage of these securities held by our peers and to protect our tangible common equity against rising interest rates. | |||||||||||||||||||||||||||||||||||||
During the third quarter of 2012, approximately $46.1 million of state and political subdivision securities were transferred from the held-to-maturity portfolio to the available-for-sale portfolio due to changes in circumstances associated with the Office of Management and Budget’s report outlining sequestration and the implications for taxable Build America Bonds (“BABs”). Specifically, the release indicated that if U.S. policymakers failed to address the fiscal cliff and take legislative action, a series of key fiscal measures would occur in January. One of these measures that involves automatic spending cuts (or “sequestration”) mandated by the Budget Control Act had, among other things, implications for taxable BAB. The OMB included in its report that 7.6%, or $322 million, of subsidy payments authorized for issuers of BABs would be reduced in 2013. This cut could in turn trigger an “Extraordinary Redemption Provision” within the BAB structure allowing the issuer to potentially call some bonds at par. This par call could generate a large loss for buyers of BABs if they paid a premium for these securities at purchase. | |||||||||||||||||||||||||||||||||||||
Old National owned a significant number of premium BABs, largely classified as held-to-maturity securities, that would generate a loss if called at par. In response to this event and consistent with FASB ASC 320-10-25-6, Old National moved certain BABs from held-to-maturity to available-for-sale based on the following criteria: | |||||||||||||||||||||||||||||||||||||
1) | BABs that were purchased at a premium; | ||||||||||||||||||||||||||||||||||||
2) | BABs with a par value of $1.0 million or more (BABS with a par value below $1.0 million remained in held-to-maturity as, in management’s opinion, they would not have a material negative impact on earnings if called at par). | ||||||||||||||||||||||||||||||||||||
Once these BABs were reclassified, Old National reviewed each holding for potential sale in order to limit any negative earnings impact. | |||||||||||||||||||||||||||||||||||||
Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The investment securities portfolio is evaluated for OTTI by segregating the portfolio into two general segments and applying the appropriate OTTI model. Investment securities classified as available-for-sale or held-to-maturity are generally evaluated for OTTI under FASB ASC 320 (SFAS No. 115, Accounting for Certain Investments in Debt and Equity Securities). However, certain purchased beneficial interests, including non-agency mortgage-backed securities, asset-backed securities, and collateralized debt obligations, that had credit ratings at the time of purchase of below AA are evaluated using the model outlined in FASB ASC 325-10 (EITF Issue No. 99-20, Recognition of Interest Income and Impairment on Purchased Beneficial Interests and Beneficial Interests that Continue to be Held by a Transfer in Securitized Financial Assets). | |||||||||||||||||||||||||||||||||||||
In determining OTTI under the FASB ASC 320 (SFAS No. 115) model, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. The second segment of the portfolio uses the OTTI guidance provided by FASB ASC 325-10 (EITF 99-20) that is specific to purchased beneficial interests that, on the purchase date, were rated below AA. Under the FASB ASC 325-10 model, we compare the present value of the remaining cash flows as estimated at the preceding evaluation date to the current expected remaining cash flows. An OTTI is deemed to have occurred if there has been an adverse change in the remaining expected future cash flows. | |||||||||||||||||||||||||||||||||||||
When other-than-temporary-impairment occurs under either model, the amount of the other-than-temporary-impairment recognized in earnings depends on whether an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss. If an entity intends to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the other-than-temporary-impairment shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. Otherwise, the other-than-temporary-impairment shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total other-than-temporary-impairment related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total other-than-temporary-impairment related to other factors shall be recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the other-than-temporary-impairment recognized in earnings shall become the new amortized cost basis of the investment. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013, Old National’s security portfolio consisted of 1,337 securities, 292 of which were in an unrealized loss position. Our non-agency mortgage-backed and pooled trust preferred securities are discussed below. | |||||||||||||||||||||||||||||||||||||
Non-agency Mortgage-backed Securities | |||||||||||||||||||||||||||||||||||||
No other-than-temporary-impairment was recorded in 2013 on the Company’s non-agency mortgage-backed securities. These securities had $0.4 million of net unrealized gains at December 31, 2013. | |||||||||||||||||||||||||||||||||||||
At December 31, 2012, our securities portfolio contained 7 non-agency collateralized mortgage obligations with a fair value of $30.2 million which had net unrealized gains of approximately $0.8 million. All of these securities are residential mortgage-backed securities. These non-agency mortgage-backed securities were rated AAA at purchase and are not within the scope of FASB ASC 325-10 (EITF 99-20). As of December 31, 2012, six of these securities were rated below investment grade with grades ranging from BB to D. One of the six securities was rated BB and had a fair value of $5.0 million, one of the securities was rated CCC and had a fair value of $12.6 million, one of the securities was rated C with a fair value of $0.4 million and three of the securities were rated D with a fair value of $9.0 million. These securities were evaluated to determine if the underlying collateral is expected to experience loss, resulting in a principal loss of the notes. As part of the evaluation, a detailed analysis of deal-specific data was obtained from remittance reports provided by the trustee and data from the servicer. The collateral was broken down into several distinct buckets based on loan performance characteristics in order to apply different assumptions to each bucket. The most significant drivers affecting loan performance were examined including original loan-to-value (“LTV”), underlying property location and the loan status. The loans in the current status bucket were further divided based on their original LTV: a high-LTV and a low-LTV group to which different default curves and severity percentages were applied. The high-LTV group was further bifurcated into loans originated in high-risk states and all other states with a higher default-curve and severity percentages being applied to loans originated in the high-risk states. Different default curves and severity rates were applied to the remaining non-current collateral buckets. Using these collateral-specific assumptions, a model was built to project the future performance of the instrument. Based on this analysis of the underlying collateral, Old National recorded $0.9 million of credit losses on six of these securities for the twelve months ended December 31, 2012. The fair value of these non-agency mortgage-backed securities remaining at December 31, 2012 was $27.1 million. | |||||||||||||||||||||||||||||||||||||
Pooled Trust Preferred Securities | |||||||||||||||||||||||||||||||||||||
At December 31, 2013, our securities portfolio contained four pooled trust preferred securities with a fair value of $8.0 million and unrealized losses of $11.2 million. Two of the pooled trust preferred securities in our portfolio fall within the scope of FASB ASC 325-10 (EITF 99-20) and have a fair value of $1.2 million with unrealized losses of $3.9 million at December 31, 2013. These securities were rated A2 and A3 at inception, but at December 31, 2013, both securities are rated D. The issuers in these securities are primarily banks, but some of the pools do include a limited number of insurance companies. We use the OTTI evaluation model to compare the present value of expected cash flows to the previous estimate to determine whether an adverse change in cash flows has occurred during the quarter. The OTTI model considers the structure and term of the collateralized debt obligation (“CDO”) and the financial condition of the underlying issuers. Specifically, the model details interest rates, principal balances of note classes and underlying issuers, the timing and amount of interest and principal payments of the underlying issuers, and the allocation of the payments to the note classes. The current estimate of expected cash flows is based on the most recent trustee reports and any other relevant market information including announcements of interest payment deferrals or defaults of underlying trust preferred securities. Assumptions used in the model include expected future default rates and prepayments. We assume no recoveries on defaults and a limited number of recoveries on current or projected interest payment deferrals. In addition, we use the model to “stress” each CDO, or make assumptions more severe than expected activity, to determine the degree to which assumptions could deteriorate before the CDO could no longer fully support repayment of Old National’s note class. During the first quarter of 2013 one of these securities was sold. We recorded a gain of $224 thousand associated with this sale. During the fourth quarter of 2013 one of these securities was sold and we recorded a loss of $186 thousand. Also during the fourth quarter of 2013, the senior note holders of one particular CDO exercised their right to accelerate maturity of the CDO. Other-than-temporary-impairment of $1.0 million was recorded on this CDO based on our estimate of liquidation proceeds to be received, all of which was recorded as a credit loss in earnings. At December 31, 2013, we have no intent to sell any of these securities that are in an unrealized loss position nor is it expected that we would be required to sell these securities. | |||||||||||||||||||||||||||||||||||||
Two of our pooled trust preferred securities with a fair value of $6.9 million and unrealized losses of $7.3 million at December 31, 2013 are not subject to FASB ASC 325-10. These securities are evaluated using collateral-specific assumptions to estimate the expected future interest and principal cash flows. Our analysis indicated no other-than-temporary-impairment on these securities. | |||||||||||||||||||||||||||||||||||||
At December 31, 2012, our securities portfolio contained six pooled trust preferred securities with a fair value of $9.4 million and unrealized losses of $15.5 million. Four of the pooled trust preferred securities in our portfolio fell within the scope of FASB ASC 325-10 (EITF 99-20) and had a fair value of $3.9 million with unrealized losses of $6.7 million at December 31, 2012. These securities were rated A2 and A3 at inception, but at December 31, 2012, one security was rated CC, two securities were rated C and one security D. The issuers in these securities are primarily banks, but some of the pools do include a limited number of insurance companies. We use the OTTI evaluation model to compare the present value of expected cash flows to the previous estimate to determine whether an adverse change in cash flows has occurred during the quarter. The OTTI model considers the structure and term of the CDO and the financial condition of the underlying issuers. Specifically, the model details interest rates, principal balances of note classes and underlying issuers, the timing and amount of interest and principal payments of the underlying issuers, and the allocation of the payments to the note classes. The current estimate of expected cash flows is based on the most recent trustee reports and any other relevant market information including announcements of interest payment deferrals or defaults of underlying trust preferred securities. Assumptions used in the model include expected future default rates and prepayments. We assume no recoveries on defaults and a limited number of recoveries on current or projected interest payment deferrals. In addition, we use the model to “stress” each CDO, or make assumptions more severe than expected activity, to determine the degree to which assumptions could deteriorate before the CDO could no longer fully support repayment of Old National’s note class. For the twelve months ended December 31, 2012, our model indicated other-than-temporary-impairment losses on two securities of $476 thousand, all of which was recorded as a credit loss in earnings. During the fourth quarter of 2012 one of these securities was sold. At December 31, 2012, the fair value of the remaining security was $501 thousand and it was classified as available for sale. | |||||||||||||||||||||||||||||||||||||
Two of our pooled trust preferred securities with a fair value of $5.5 million and unrealized losses of $8.8 million at December 31, 2012 were not subject to FASB ASC 325-10. These securities are evaluated using collateral-specific assumptions to estimate the expected future interest and principal cash flows. Our analysis indicated no other-than-temporary-impairment on these securities. | |||||||||||||||||||||||||||||||||||||
The table below summarizes the relevant characteristics of our four pooled trust preferred securities as well as five single issuer trust preferred securities which are included with other securities in this Note 4 to the consolidated financial statements. Each of the pooled trust preferred securities support a more senior tranche of security holders. | |||||||||||||||||||||||||||||||||||||
As depicted in the table below, all four securities have experienced credit defaults. However, two of these securities have excess subordination and are not other-than-temporarily-impaired as a result of their class hierarchy which provides more loss protection. | |||||||||||||||||||||||||||||||||||||
Trust preferred securities | Class | Lowest | Amortized | Fair | Unrealized | Realized | # of Issuers | Actual | Expected | Excess | |||||||||||||||||||||||||||
December 31, 2013 | Credit | Cost | Value | Gain/ | Losses | Currently | Deferrals and | Defaults as | Subordination | ||||||||||||||||||||||||||||
(Dollars in Thousands) | Rating (1) | (Loss) | 2013 | Performing/ | Defaults as a | a % of | as a % | ||||||||||||||||||||||||||||||
Remaining | Percent of | Remaining | of Current | ||||||||||||||||||||||||||||||||||
Original | Performing | Performing | |||||||||||||||||||||||||||||||||||
Collateral | Collateral | Collateral | |||||||||||||||||||||||||||||||||||
Pooled trust preferred securities: | |||||||||||||||||||||||||||||||||||||
MM Community Funding IX | B-2 | D | $ | 1,067 | $ | 918 | $ | (149 | ) | $ | 1,000 | 14/27 | 32 | % | NA | 0 | % | ||||||||||||||||||||
Reg Div Funding 2004 | B-2 | D | 4,012 | 246 | (3,766 | ) | — | 24/43 | 39.9 | % | 5.4 | % | 0 | % | |||||||||||||||||||||||
Pretsl XXVII LTD | B | CCC | 4,711 | 1,928 | (2,783 | ) | — | 33/47 | 25.1 | % | 18.3 | % | 31.5 | % | |||||||||||||||||||||||
Trapeza Ser 13A | A2A | B+ | 9,425 | 4,945 | (4,480 | ) | — | 42/61 | 26 | % | 15.6 | % | 43.8 | % | |||||||||||||||||||||||
19,215 | 8,037 | (11,178 | ) | 1,000 | |||||||||||||||||||||||||||||||||
Single Issuer trust preferred securities: | |||||||||||||||||||||||||||||||||||||
First Empire Cap (M&T) | BB+ | 959 | 1,014 | 55 | — | ||||||||||||||||||||||||||||||||
First Empire Cap (M&T) | BB+ | 2,912 | 3,043 | 131 | — | ||||||||||||||||||||||||||||||||
Fleet Cap Tr V (BOA) | BB+ | 3,373 | 2,765 | (608 | ) | — | |||||||||||||||||||||||||||||||
JP Morgan Chase Cap XIII | BBB | 4,734 | 3,950 | (784 | ) | — | |||||||||||||||||||||||||||||||
NB-Global | BB+ | 734 | 790 | 56 | — | ||||||||||||||||||||||||||||||||
12,712 | 11,562 | (1,150 | ) | — | |||||||||||||||||||||||||||||||||
Total | $ | 31,927 | $ | 19,599 | $ | (12,328 | ) | $ | 1,000 | ||||||||||||||||||||||||||||
-1 | Lowest rating for the security provided by any nationally recognized credit rating agency. | ||||||||||||||||||||||||||||||||||||
The following table details all securities with other-than-temporary-impairment, their credit rating at December 31, 2013 and the related credit losses recognized in earnings: | |||||||||||||||||||||||||||||||||||||
Amount of other-than-temporary | |||||||||||||||||||||||||||||||||||||
Lowest | impairment recognized in earnings | ||||||||||||||||||||||||||||||||||||
Credit | Amortized | Twelve Months ended December 31, | Life-to | ||||||||||||||||||||||||||||||||||
Vintage | Rating (1) | Cost | 2013 | 2012 | 2011 | 2010 | 2009 | date | |||||||||||||||||||||||||||||
Non-agency mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
BAFC Ser 4 | 2007 | CCC | $ | 9,517 | $ | — | $ | 299 | $ | — | $ | 79 | $ | 63 | $ | 441 | |||||||||||||||||||||
CWALT Ser 73CB (2) | 2005 | — | 151 | — | 207 | 83 | 441 | ||||||||||||||||||||||||||||||
CWALT Ser 73CB (2) | 2005 | — | 35 | — | 427 | 182 | 644 | ||||||||||||||||||||||||||||||
CWHL 2006-10 (2) | 2006 | — | — | — | 309 | 762 | 1,071 | ||||||||||||||||||||||||||||||
CWHL 2005-20 | 2005 | — | — | — | 39 | 72 | 111 | ||||||||||||||||||||||||||||||
FHASI Ser 4 (2) | 2007 | — | — | 340 | 629 | 223 | 1,192 | ||||||||||||||||||||||||||||||
HALO Ser 1R (2) | 2006 | — | 133 | 16 | — | — | 149 | ||||||||||||||||||||||||||||||
RFMSI Ser S9 (2) | 2006 | — | — | — | 923 | 1,880 | 2,803 | ||||||||||||||||||||||||||||||
RFMSI Ser S10 | 2006 | D | 2,493 | — | 178 | 165 | 76 | 249 | 668 | ||||||||||||||||||||||||||||
RALI QS2 (2) | 2006 | — | — | — | 278 | 739 | 1,017 | ||||||||||||||||||||||||||||||
RAST A9 | 2004 | — | 142 | — | — | — | 142 | ||||||||||||||||||||||||||||||
RFMSI S1 (2) | 2006 | — | — | — | 30 | 176 | 206 | ||||||||||||||||||||||||||||||
12,010 | — | 938 | 521 | 2,997 | 4,429 | 8,885 | |||||||||||||||||||||||||||||||
Pooled trust preferred securities: | |||||||||||||||||||||||||||||||||||||
TROPC (2) | 2003 | — | — | 888 | 444 | 3,517 | 4,849 | ||||||||||||||||||||||||||||||
MM Community Funding IX | 2003 | D | 1,067 | 1,000 | — | — | 165 | 2,612 | 3,777 | ||||||||||||||||||||||||||||
Reg Div Funding | 2004 | D | 4,012 | — | 165 | — | 321 | 5,199 | 5,685 | ||||||||||||||||||||||||||||
Pretsl XII (2) | 2003 | — | — | — | — | 1,897 | 1,897 | ||||||||||||||||||||||||||||||
Pretsl XV (2) | 2004 | — | — | — | — | 3,374 | 3,374 | ||||||||||||||||||||||||||||||
Reg Div Funding (3) | 2005 | — | 311 | — | — | 3,767 | 4,078 | ||||||||||||||||||||||||||||||
5,079 | 1,000 | 476 | 888 | 930 | 20,366 | 23,660 | |||||||||||||||||||||||||||||||
Total other-than-temporary-impairment recognized in earnings | $ | 1,000 | $ | 1,414 | $ | 1,409 | $ | 3,927 | $ | 24,795 | $ | 32,545 | |||||||||||||||||||||||||
-1 | Lowest rating for the security provided by any nationally recognized credit rating agency. | ||||||||||||||||||||||||||||||||||||
-2 | Securities sold. | ||||||||||||||||||||||||||||||||||||
-3 | Security written down to zero. |
Loans_Held_for_Sale
Loans Held for Sale | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Loans Held for Sale | ' |
NOTE 5 – LOANS HELD FOR SALE | |
Residential loans that Old National has committed to sell are recorded at fair value in accordance with FASB ASC 825-10 (SFAS No. 159 – The Fair Value Option for Financial Assets and Financial Liabilities). At December 31, 2013 and 2012, Old National had residential loans held for sale of $7.7 million and $12.6 million, respectively. | |
During the third quarter of 2013, residential real estate loans held for investment of $96.9 million were reclassified to loans held for sale at the lower of cost or fair value and sold for $96.9 million, resulting in no gain or loss. These longer duration loans were sold to reduce interest rate risk in the loan portfolio. At December 31, 2013, there were no loans held for sale under this arrangement. | |
At June 30, 2013, Old National had taxable finance leases held for sale of $11.6 million. These leases were transferred from the commercial loan category at fair value and a loss of $0.2 million was recognized. The portfolio of leases held for sale had an average maturity of 2.7 years and interest rates ranging from 3.57% to 10.22%. The leases held for sale were to a variety of borrowers, with various types of equipment securing the leases, and all of the leases were current. The leases held for sale were sold in the third quarter of 2013 with no additional loss. As of December 31, 2013, Old National does not intend to sell its nontaxable finance leases. | |
During 2013, commercial and commercial real estate loans held for investment of $5.9 million, including $0.4 million of purchased impaired loans, were reclassified to loans held for sale at the lower of cost or fair value and sold for $7.1 million, resulting in a charge-off of $0.2 million, recoveries of $0.4 million and other noninterest income of $1.0 million. At December 31, 2013, there were no loans held for sale under this arrangement. | |
During 2012, commercial and commercial real estate loans held for investment of $1.7 million, including $1.5 million of purchased impaired loans, were reclassified to loans held for sale at the lower of cost or fair value and sold for $2.4 million, resulting in a charge-off of $0.1 million and a recovery of $0.8 million. At December 31, 2012, there were no loans held for sale under this arrangement. |
Finance_Receivables_and_Allowa
Finance Receivables and Allowance for Credit Losses | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Finance Receivables and Allowance for Credit Losses | ' | ||||||||||||||||||||||||
NOTE 6 – FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES | |||||||||||||||||||||||||
Old National’s finance receivables consist primarily of loans made to consumers and commercial clients in various industries including manufacturing, agribusiness, transportation, mining, wholesaling and retailing. Most of Old National’s lending activity occurs within our principal geographic markets of Indiana, southeast Illinois and western Kentucky. Old National has no concentration of commercial loans in any single industry exceeding 10% of its portfolio. | |||||||||||||||||||||||||
The composition of loans at December 31 by lending classification was as follows: | |||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Commercial (1) | $ | 1,373,415 | $ | 1,336,820 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Construction | 88,630 | 99,081 | |||||||||||||||||||||||
Other | 1,072,260 | 1,156,802 | |||||||||||||||||||||||
Residential real estate | 1,359,569 | 1,324,703 | |||||||||||||||||||||||
Consumer credit: | |||||||||||||||||||||||||
Heloc | 251,102 | 258,114 | |||||||||||||||||||||||
Auto | 620,473 | 526,085 | |||||||||||||||||||||||
Other | 99,683 | 122,656 | |||||||||||||||||||||||
Covered loans | 217,832 | 372,333 | |||||||||||||||||||||||
Total loans | 5,082,964 | 5,196,594 | |||||||||||||||||||||||
Allowance for loan losses | (41,741 | ) | (49,047 | ) | |||||||||||||||||||||
Allowance for loan losses - covered loans | (5,404 | ) | (5,716 | ) | |||||||||||||||||||||
Net loans | $ | 5,035,819 | $ | 5,141,831 | |||||||||||||||||||||
-1 | Includes direct finance leases of $27.8 million and $57.7 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||
Portfolio loans, or loans Old National intends to hold for investment purposes, are carried at the principal balance outstanding, net of earned interest, purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on the principal balances of loans outstanding. | |||||||||||||||||||||||||
The risk characteristics of each loan portfolio segment are as follows: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. | |||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||
These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing Old National’s commercial real estate portfolio are diverse in terms of type and geographic location. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. As a general rule, Old National avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. | |||||||||||||||||||||||||
Included with commercial real estate are construction loans, which are underwritten utilizing feasibility studies, independent appraisal reviews, sensitivity analysis of absorption and lease rates and financial analysis of the developers and property owners. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from Old National until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. | |||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||
With respect to residential loans that are secured by 1-4 family residences and are generally owner occupied, Old National typically establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in residential property values. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Home equity loans are typically secured by a subordinate interest in 1-4 family residences, and consumer loans are secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans are unsecured such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in residential property values. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. | |||||||||||||||||||||||||
Covered Loans | |||||||||||||||||||||||||
On July 29, 2011, Old National acquired the banking operations of Integra in an FDIC assisted transaction. As part of the purchase and assumption agreement, Old National and the FDIC entered into loss sharing agreements (each, a “loss sharing agreement” and collectively, the “loss sharing agreements”), whereby the FDIC will cover a substantial portion of any future losses on loans (and related unfunded commitments), OREO and up to 90 days of certain accrued interest on loans. The acquired loans and OREO subject to the loss sharing agreements are referred to collectively as “covered assets.” Under the terms of the loss sharing agreements, the FDIC will reimburse Old National for 80% of losses up to $275.0 million, losses in excess of $275.0 million up to $467.2 million at 0% reimbursement, and 80% of losses in excess of $467.2 million. As of December 31, 2013, we do not expect losses to exceed $275.0 million. Old National will reimburse the FDIC for its share of recoveries with respect to losses for which the FDIC has previously reimbursed Old National under the loss sharing agreements. The loss sharing provisions of the agreements for commercial and single family residential mortgage loans are in effect for five and ten years, respectively, from the July 29, 2011 acquisition date and the loss recovery provisions for such loans are in effect for eight years and ten years, respectively, from the acquisition date. | |||||||||||||||||||||||||
Related Party Loans | |||||||||||||||||||||||||
In the ordinary course of business, Old National grants loans to certain executive officers, directors, and significant subsidiaries (collectively referred to as “related parties”). | |||||||||||||||||||||||||
Activity in related party loans during 2013 is presented in the following table: | |||||||||||||||||||||||||
(dollars in thousands) | 2013 | ||||||||||||||||||||||||
Balance, January 1 | $ | 13,975 | |||||||||||||||||||||||
New loans | 1,996 | ||||||||||||||||||||||||
Repayments | (3,254 | ) | |||||||||||||||||||||||
Officer and director changes | 33 | ||||||||||||||||||||||||
Balance, December 31 | $ | 12,750 | |||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||
The allowance for loan losses is maintained at a level believed adequate by management to absorb probable losses incurred in the loan portfolio. Management’s evaluation of the adequacy of the allowance is an estimate based on reviews of individual loans, pools of homogeneous loans, historical loss experience, and assessments of the impact of current economic conditions on the portfolio. | |||||||||||||||||||||||||
The allowance is increased through a provision charged to operating expense. Loans deemed to be uncollectible are charged to the allowance. Recoveries of loans previously charged-off are added to the allowance. | |||||||||||||||||||||||||
No allowance was brought forward on any of the acquired loans as any credit deterioration evident in the loans was included in the determination of the fair value of the loans at the acquisition date. Purchased credit impaired (“PCI”) loans are not considered impaired until after the point at which there has been a degradation of cash flows below our expected cash flows at acquisition. Impairment on PCI loans would be recognized in the current period as provision expense. | |||||||||||||||||||||||||
Old National’s activity in the allowance for loan losses for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 14,642 | $ | 31,289 | $ | 5,155 | $ | 3,677 | $ | — | $ | 54,763 | |||||||||||||
Charge-offs | (3,810 | ) | (5,427 | ) | (6,279 | ) | (1,487 | ) | — | (17,003 | ) | ||||||||||||||
Recoveries | 4,098 | 2,963 | 4,333 | 310 | — | 11,704 | |||||||||||||||||||
Provision | 1,635 | (6,424 | ) | 1,731 | 739 | — | (2,319 | ) | |||||||||||||||||
Ending balance | $ | 16,565 | $ | 22,401 | $ | 4,940 | $ | 3,239 | $ | — | $ | 47,145 | |||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2012 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 19,964 | $ | 26,993 | $ | 6,954 | $ | 4,149 | $ | — | $ | 58,060 | |||||||||||||
Charge-offs | (7,636 | ) | (4,386 | ) | (8,094 | ) | (2,204 | ) | — | (22,320 | ) | ||||||||||||||
Recoveries | 5,166 | 5,104 | 3,259 | 464 | — | 13,993 | |||||||||||||||||||
Provision | (2,852 | ) | 3,578 | 3,036 | 1,268 | — | 5,030 | ||||||||||||||||||
Ending balance | $ | 14,642 | $ | 31,289 | $ | 5,155 | $ | 3,677 | $ | — | $ | 54,763 | |||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2011 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 26,204 | $ | 32,654 | $ | 11,142 | $ | 2,309 | $ | — | $ | 72,309 | |||||||||||||
Charge-offs | (10,300 | ) | (12,319 | ) | (10,335 | ) | (1,945 | ) | — | (34,899 | ) | ||||||||||||||
Recoveries | 4,330 | 2,302 | 6,226 | 319 | — | 13,177 | |||||||||||||||||||
Provision | (270 | ) | 4,356 | (79 | ) | 3,466 | — | 7,473 | |||||||||||||||||
Ending balance | $ | 19,964 | $ | 26,993 | $ | 6,954 | $ | 4,149 | $ | — | $ | 58,060 | |||||||||||||
The following table provides Old National’s recorded investment in financing receivables by portfolio segment at December 31, 2013, and 2012 and other information regarding the allowance: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,156 | $ | 2,190 | $ | — | $ | — | $ | — | $ | 8,346 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 9,980 | $ | 14,816 | $ | 4,494 | $ | 3,088 | $ | — | $ | 32,378 | |||||||||||||
Ending balance: noncovered loans acquired with deteriorated credit quality | $ | 429 | $ | 2,025 | $ | 80 | $ | 35 | $ | — | $ | 2,569 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | — | $ | 3,370 | $ | 366 | $ | 116 | $ | — | $ | 3,852 | |||||||||||||
Total allowance for credit losses | $ | 16,565 | $ | 22,401 | $ | 4,940 | $ | 3,239 | $ | — | $ | 47,145 | |||||||||||||
Loans and leases outstanding: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 34,213 | $ | 34,997 | $ | — | $ | — | $ | — | $ | 69,210 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,355,608 | $ | 1,106,971 | $ | 1,019,576 | $ | 1,359,564 | $ | — | $ | 4,841,719 | |||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 648 | $ | 23,618 | $ | 12,725 | $ | 154 | $ | — | $ | 37,145 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | 12,281 | $ | 77,232 | $ | 17,673 | $ | 27,704 | $ | — | $ | 134,890 | |||||||||||||
Total loans and leases outstanding | $ | 1,402,750 | $ | 1,242,818 | $ | 1,049,974 | $ | 1,387,422 | $ | — | $ | 5,082,964 | |||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2012 | |||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 4,702 | $ | 2,790 | $ | — | $ | — | $ | — | $ | 7,492 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 9,900 | $ | 19,541 | $ | 4,202 | $ | 3,637 | $ | — | $ | 37,280 | |||||||||||||
Ending balance: noncovered loans acquired with deteriorated credit quality | $ | 40 | $ | 4,060 | $ | 135 | $ | 40 | $ | — | $ | 4,275 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | — | $ | 4,898 | $ | 818 | $ | — | $ | — | $ | 5,716 | |||||||||||||
Total allowance for credit losses | $ | 14,642 | $ | 31,289 | $ | 5,155 | $ | 3,677 | $ | — | $ | 54,763 | |||||||||||||
Loans and leases outstanding: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 29,980 | $ | 47,257 | $ | — | $ | — | $ | — | $ | 77,237 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,330,913 | $ | 1,175,830 | $ | 946,654 | $ | 1,334,813 | $ | — | $ | 4,788,210 | |||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 7,859 | $ | 52,981 | $ | 22,432 | $ | 123 | $ | — | $ | 83,395 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | 23,707 | $ | 162,641 | $ | 35,741 | $ | 25,663 | $ | — | $ | 247,752 | |||||||||||||
Total loans and leases outstanding | $ | 1,392,459 | $ | 1,438,709 | $ | 1,004,827 | $ | 1,360,599 | $ | — | $ | 5,196,594 | |||||||||||||
Credit Quality | |||||||||||||||||||||||||
Old National’s management monitors the credit quality of its financing receivables in an on-going manner. Internally, management assigns a credit quality grade to each non-homogeneous commercial and commercial real estate loan in the portfolio. The primary determinants of the credit quality grade are based upon the reliability of the primary source of repayment and the past, present, and projected financial condition of the borrower. The credit quality rating also reflects current economic and industry conditions. Major factors used in determining the grade can vary based on the nature of the loan, but commonly include factors such as debt service coverage, internal cash flow, liquidity, leverage, operating performance, debt burden, FICO scores, occupancy, interest rate sensitivity, and expense burden. Old National uses the following definitions for risk ratings: | |||||||||||||||||||||||||
Criticized. Special mention loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. | |||||||||||||||||||||||||
Classified – Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||
Classified – Nonaccrual. Loans classified as nonaccrual have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection in full, on the basis of currently existing facts, conditions, and values, in doubt. | |||||||||||||||||||||||||
Classified – Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as nonaccrual, with the added characteristic that the weaknesses make collection in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||
Pass rated loans are those loans that are other than criticized, classified – substandard, classified—nonaccrual or classified – doubtful. | |||||||||||||||||||||||||
As of December 31, 2013 and 2012, the risk category of loans, excluding covered loans, by class of loans is as follows: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Corporate Credit Exposure | Commercial Real Estate- | Commercial Real Estate- | |||||||||||||||||||||||
Credit Risk Profile by Internally | Commercial | Construction | Other | ||||||||||||||||||||||
Assigned Grade | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Grade: | |||||||||||||||||||||||||
Pass | $ | 1,237,983 | $ | 1,237,274 | $ | 74,815 | $ | 62,604 | $ | 943,781 | $ | 965,967 | |||||||||||||
Criticized | 90,545 | 38,476 | 9,383 | 11,969 | 35,473 | 62,819 | |||||||||||||||||||
Classified - substandard | 16,252 | 24,304 | 2,559 | 10,204 | 42,516 | 46,491 | |||||||||||||||||||
Classified - nonaccrual (1) | 27,635 | 36,766 | 1,873 | 14,304 | 49,406 | 81,525 | |||||||||||||||||||
Classified - doubtful | 1,000 | — | — | — | 1,084 | — | |||||||||||||||||||
Total | $ | 1,373,415 | $ | 1,336,820 | $ | 88,630 | $ | 99,081 | $ | 1,072,260 | $ | 1,156,802 | |||||||||||||
-1 | Classified - nonaccrual includes doubtful loans in 2012. An additional asset quality rating was added as of December 31, 2013. | ||||||||||||||||||||||||
Old National considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential and consumer loan classes, Old National also evaluates credit quality based on the aging status of the loan and by payment activity. The following table presents the recorded investment in residential and consumer loans based on payment activity as of December 31, 2013 and 2012, excluding covered loans: | |||||||||||||||||||||||||
2013 | Consumer | Residential | |||||||||||||||||||||||
(dollars in thousands) | Heloc | Auto | Other | ||||||||||||||||||||||
Performing | $ | 249,152 | $ | 618,911 | $ | 97,877 | $ | 1,349,236 | |||||||||||||||||
Nonaccrual | 1,950 | 1,562 | 1,806 | 10,333 | |||||||||||||||||||||
$ | 251,102 | $ | 620,473 | $ | 99,683 | $ | 1,359,569 | ||||||||||||||||||
2012 | Consumer | Residential | |||||||||||||||||||||||
(dollars in thousands) | Heloc | Auto | Other | ||||||||||||||||||||||
Performing | $ | 256,394 | $ | 524,105 | $ | 120,547 | $ | 1,312,717 | |||||||||||||||||
Nonaccrual | 1,720 | 1,980 | 2,109 | 11,986 | |||||||||||||||||||||
$ | 258,114 | $ | 526,085 | $ | 122,656 | $ | 1,324,703 | ||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
Large commercial credits are subject to individual evaluation for impairment. Retail credits and other small balance credits that are part of a homogeneous group are not tested for individual impairment unless they are modified as a troubled debt restructuring. A loan is considered impaired when it is probable that contractual interest and principal payments will not be collected either for the amounts or by the dates as scheduled in the loan agreement. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Old National’s policy, for all but purchased credit impaired loans, is to recognize interest income on impaired loans unless the loan is placed on nonaccrual status. No additional funds are committed to be advanced in connection with these impaired loans. | |||||||||||||||||||||||||
The following table shows Old National’s impaired loans, excluding covered loans, that are individually evaluated as of December 31, 2013 and 2012, respectively. Of the loans purchased during 2012 and 2011 without FDIC loss share coverage, only those that have experienced subsequent impairment since the date acquired are included in the table below. | |||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||
(dollars in thousands) | Investment | Balance | Allowance | ||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 17,066 | $ | 17,417 | $ | — | |||||||||||||||||||
Commercial Real Estate—Construction | 525 | 633 | — | ||||||||||||||||||||||
Commercial Real Estate—Other | 15,746 | 22,550 | — | ||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 9,282 | 12,304 | 4,723 | ||||||||||||||||||||||
Commercial Real Estate—Construction | — | — | — | ||||||||||||||||||||||
Commercial Real Estate—Other | 18,726 | 19,358 | 2,190 | ||||||||||||||||||||||
Total Commercial | $ | 61,345 | $ | 72,262 | $ | 6,913 | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 6,563 | $ | 9,280 | $ | — | |||||||||||||||||||
Commercial Real Estate—Construction | 1,179 | 1,287 | — | ||||||||||||||||||||||
Commercial Real Estate—Other | 16,944 | 23,162 | — | ||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 23,417 | 28,574 | 4,702 | ||||||||||||||||||||||
Commercial Real Estate—Construction | 3,227 | 3,227 | 69 | ||||||||||||||||||||||
Commercial Real Estate—Other | 25,907 | 28,732 | 2,721 | ||||||||||||||||||||||
Total Commercial | $ | 77,237 | $ | 94,262 | $ | 7,492 | |||||||||||||||||||
The average balance of impaired loans, excluding covered loans, and interest income recognized on impaired loans for the twelve months ended December 31, 2013 and 2012 are included in the tables below. | |||||||||||||||||||||||||
Average | Interest | ||||||||||||||||||||||||
Recorded | Income | ||||||||||||||||||||||||
(dollars in thousands) | Investment | Recognized (1) | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 11,815 | $ | 135 | |||||||||||||||||||||
Commercial Real Estate—Construction | 852 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 16,345 | 140 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 16,351 | 123 | |||||||||||||||||||||||
Commercial Real Estate—Construction | 1,614 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 22,317 | 134 | |||||||||||||||||||||||
Total Commercial | $ | 69,294 | $ | 532 | |||||||||||||||||||||
-1 | The Company does not record interest on nonaccrual loans until principal is recovered. | ||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 8,329 | $ | 166 | |||||||||||||||||||||
Commercial Real Estate—Construction | 895 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 17,541 | 224 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 22,581 | 116 | |||||||||||||||||||||||
Commercial Real Estate—Construction | 2,742 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 24,066 | 473 | |||||||||||||||||||||||
Total Commercial | $ | 76,154 | $ | 979 | |||||||||||||||||||||
-1 | The Company does not record interest on nonaccrual loans until principal is recovered. | ||||||||||||||||||||||||
For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in the process of collection, or earlier when concern exists as to the ultimate collectibility of principal or interest. Interest accrued during the current year on such loans is reversed against earnings. Interest accrued in the prior year, if any, is charged to the allowance for loan losses. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, remain current for six months and future payments are reasonably assured. | |||||||||||||||||||||||||
Covered loans accounted for under FASB ASC Topic 310-30 accrue interest, even though they may be contractually past due, as any nonpayment of contractual principal or interest is considered in the periodic re-estimation of expected cash flows and is included in the resulting recognition of current period covered loan loss provision or prospective yield adjustments. Similar to uncovered loans, covered loans accounted for outside FASB ASC Topic 310-30 are classified as nonaccrual when, in the opinion of management, collection of principal or interest is doubtful. Information for covered loans accounted for both under and outside FASB ASC Topic 310-30 is included in the table below in the row labeled covered loans. | |||||||||||||||||||||||||
Old National’s past due financing receivables as of December 31 are as follows: | |||||||||||||||||||||||||
Recorded | |||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total | ||||||||||||||||||||||
(dollars in thousands) | Past Due | Past Due | Accruing | Nonaccrual | Past Due | Current | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Commercial | $ | 1,532 | $ | 13 | $ | — | $ | 28,635 | $ | 30,180 | $ | 1,343,235 | |||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Construction | — | 139 | — | 1,873 | 2,012 | 86,618 | |||||||||||||||||||
Other | 1,017 | 27 | — | 50,490 | 51,534 | 1,020,726 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Heloc | 527 | 119 | — | 1,950 | 2,596 | 248,506 | |||||||||||||||||||
Auto | 3,795 | 716 | 89 | 1,562 | 6,162 | 614,311 | |||||||||||||||||||
Other | 844 | 317 | 100 | 1,806 | 3,067 | 96,616 | |||||||||||||||||||
Residential | 8,588 | 2,823 | 35 | 10,333 | 21,779 | 1,337,790 | |||||||||||||||||||
Covered loans | 1,831 | 730 | 14 | 31,793 | 34,368 | 183,464 | |||||||||||||||||||
Total | $ | 18,134 | $ | 4,884 | $ | 238 | $ | 128,442 | $ | 151,698 | $ | 4,931,266 | |||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Commercial | $ | 2,691 | $ | 515 | $ | 322 | $ | 36,766 | $ | 40,294 | $ | 1,296,526 | |||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Construction | 11 | — | — | 14,304 | 14,315 | 84,766 | |||||||||||||||||||
Other | 3,439 | 665 | 236 | 81,525 | 85,865 | 1,070,937 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Heloc | 961 | 15 | — | 1,720 | 2,696 | 255,418 | |||||||||||||||||||
Auto | 4,070 | 881 | 328 | 1,980 | 7,259 | 518,826 | |||||||||||||||||||
Other | 1,732 | 403 | 110 | 2,109 | 4,354 | 118,302 | |||||||||||||||||||
Residential | 14,686 | 1,874 | 66 | 11,986 | 28,612 | 1,296,091 | |||||||||||||||||||
Covered Loans | 2,891 | 941 | 15 | 103,946 | 107,793 | 264,540 | |||||||||||||||||||
Total | $ | 30,481 | $ | 5,294 | $ | 1,077 | $ | 254,336 | $ | 291,188 | $ | 4,905,406 | |||||||||||||
Loan Participations | |||||||||||||||||||||||||
Old National has loan participations, which qualify as participating interests, with other financial institutions. At December 31, 2013, these loans totaled $178.5 million, of which $124.3 million had been sold to other financial institutions and $54.2 million was retained by Old National. The loan participations convey proportionate ownership rights with equal priority to each participating interest holder, involve no recourse (other than ordinary representations and warranties) to, or subordination by, any participating interest holder, all cash flows are divided among the participating interest holders in proportion to each holder’s share of ownership and no holder has the right to pledge the entire financial asset unless all participating interest holders agree. | |||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
Old National may choose to restructure the contractual terms of certain loans. The decision to restructure a loan, versus aggressively enforcing the collection of the loan, may benefit Old National by increasing the ultimate probability of collection. | |||||||||||||||||||||||||
Any loans that are modified are reviewed by Old National to identify if a troubled debt restructuring (“TDR”) has occurred, which is when for economic or legal reasons related to a borrower’s financial difficulties, the Bank grants a concession to the borrower that it would not otherwise consider. Terms may be modified to fit the ability of the borrower to repay in line with its current financial status. During the twelve months ended December 31, 2013, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan, an extension of the maturity date at a stated rate of interest lower than the current market rate of new debt with similar risk, or a permanent reduction of the recorded investment of the loan. | |||||||||||||||||||||||||
Loans modified in a TDR are typically placed on nonaccrual status until we determine the future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate a period of performance according to the restructured terms for six months. | |||||||||||||||||||||||||
If we are unable to resolve a nonperforming loan issue, the credit will be charged off when it is apparent there will be a loss. For large commercial type loans, each relationship is individually analyzed for evidence of apparent loss based on quantitative benchmarks or subjectively based upon certain events or particular circumstances. It is Old National’s policy to charge off small commercial loans scored through our small business credit center with contractual balances under $250,000 that have been placed on nonaccrual status or became ninety days or more delinquent, without regard to the collateral position. For residential and consumer loans, a charge off is recorded at the time foreclosure is initiated or when the loan becomes 120 to 180 days past due, whichever is earlier. | |||||||||||||||||||||||||
For commercial TDRs, an allocated reserve is established within the allowance for loan losses for the difference between the carrying value of the loan and its computed fair value. To determine the fair value of the loan, one of the following methods is selected: (1) the present value of expected cash flows discounted at the loans original effective interest rate, (2) the loan’s observable market price, or (3) the fair value of the collateral value, if the loan is collateral dependent. The allocated reserve is established as the difference between the carrying value of the loan and the collectable value. If there are significant changes in the amount or timing of the loan’s expected future cash flows, impairment is recalculated and the valuation allowance is adjusted accordingly. | |||||||||||||||||||||||||
For consumer and residential TDRs, an additional amount is added to the loan loss reserve that represents the difference in the present value of the cash flows between the original terms and the new terms of the modified loan, using the original effective interest rate of the loan as a discount rate. | |||||||||||||||||||||||||
At December 31, 2013, our TDRs consisted of $22.5 million of commercial loans, $22.6 million of commercial real estate loans, $1.4 million of consumer loans and $2.4 million of residential loans, totaling $48.9 million. Approximately $33.1 million of the TDRs at December 31, 2013 were included with nonaccrual loans. At December 31, 2012, our TDRs consisted of $12.7 million of commercial loans, $18.4 million of commercial real estate loans, $0.5 million of consumer loans and $0.5 million of residential loans, totaling $32.1 million. Approximately $22.1 million of the TDRs at December 31, 2012 were included with nonaccrual loans. | |||||||||||||||||||||||||
As of December 31, 2013 and 2012, Old National has allocated $4.1 million and $6.2 million of specific reserves to customers whose loan terms have been modified in TDRs, respectively. Old National has not committed to lend any additional amounts as of December 31, 2013 and 2012, respectively, to customers with outstanding loans that are classified as TDRs. | |||||||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the twelve months ended December 31, 2013: | |||||||||||||||||||||||||
Pre-modification | Post-modification | ||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||
(dollars in thousands) | Loans | Investment | Investment | ||||||||||||||||||||||
Troubled Debt Restructuring: | |||||||||||||||||||||||||
Commercial | 35 | $ | 16,196 | $ | 15,155 | ||||||||||||||||||||
Commercial Real Estate—construction | 1 | 60 | 60 | ||||||||||||||||||||||
Commercial Real Estate—other | 36 | 10,585 | 9,791 | ||||||||||||||||||||||
Residential | 14 | 1,936 | 1,901 | ||||||||||||||||||||||
Consumer —other | 49 | 1,622 | 1,484 | ||||||||||||||||||||||
Total | 135 | $ | 30,399 | $ | 28,391 | ||||||||||||||||||||
The TDRs described above increased the allowance for loan losses by $0.1 million and resulted in charge-offs of $0.2 million during the twelve months ended December 31, 2013. | |||||||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the twelve months ended December 31, 2012: | |||||||||||||||||||||||||
Pre-modification | Post-modification | ||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||
(dollars in thousands) | Loans | Investment | Investment | ||||||||||||||||||||||
Troubled Debt Restructuring: | |||||||||||||||||||||||||
Commercial | 44 | $ | 9,585 | $ | 9,574 | ||||||||||||||||||||
Commercial Real Estate—construction | 3 | 1,392 | 1,382 | ||||||||||||||||||||||
Commercial Real Estate—other | 35 | 16,404 | 16,272 | ||||||||||||||||||||||
Residential | 13 | 532 | 534 | ||||||||||||||||||||||
Consumer —other | 13 | 494 | 460 | ||||||||||||||||||||||
Total | 108 | $ | 28,407 | $ | 28,222 | ||||||||||||||||||||
The TDRs described above increased the allowance for loan losses by $1.0 million and resulted in charge-offs of $1.0 million during the twelve months ended December 31, 2012. | |||||||||||||||||||||||||
A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. | |||||||||||||||||||||||||
The following table presents loans by class modified as TDRs for which there was a payment default within the last twelve months following the modification during the twelve months ended December 31, 2013. | |||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | |||||||||||||||||||||||
Troubled Debt Restructuring | |||||||||||||||||||||||||
That Subsequently Defaulted: | |||||||||||||||||||||||||
Commercial | 3 | $ | 32 | ||||||||||||||||||||||
Commercial Real Estate | 2 | 85 | |||||||||||||||||||||||
Total | 5 | $ | 117 | ||||||||||||||||||||||
The TDRs that subsequently defaulted described above decreased the allowance for loan losses by $0 million and resulted in charge-offs of $0.1 million during the twelve months ended December 31, 2013. | |||||||||||||||||||||||||
The following table presents loans by class modified as TDRs for which there was a payment default within the last twelve months following the modification during the twelve months ended December 31, 2012: | |||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | |||||||||||||||||||||||
Troubled Debt Restructuring | |||||||||||||||||||||||||
That Subsequently Defaulted: | |||||||||||||||||||||||||
Commercial | 8 | $ | 500 | ||||||||||||||||||||||
Commercial Real Estate | 7 | 611 | |||||||||||||||||||||||
Total | 15 | $ | 1,111 | ||||||||||||||||||||||
The TDRs that subsequently defaulted described above decreased the allowance for loan losses by $0.5 million and resulted in charge-offs of $0.5 million during the twelve months ended December 31, 2012. | |||||||||||||||||||||||||
The terms of certain other loans were modified during the twelve months ended December 31, 2013 that did not meet the definition of a TDR. It is our process to review all classified and criticized loans that, during the period, have been renewed, have entered into a forbearance agreement, have gone from principal and interest to interest only, or have had the maturity date extended. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on its debt in the foreseeable future without the modification. The evaluation is performed under our internal underwriting policy. We also evaluate whether a concession has been granted or if we were adequately compensated through a market interest rate, additional collateral or a bona fide guarantee. We also consider whether the modification was insignificant relative to the other terms of the agreement or if the delay in a payment was 90 days or less. | |||||||||||||||||||||||||
Purchased credit impaired (“PCI”) loans are not considered impaired until after the point at which there has been a degradation of cash flows below our expected cash flows at acquisition. If a PCI loan is subsequently modified, and meets the definition of a TDR, it will be removed from PCI accounting and accounted for as a TDR only if the PCI loan was being accounted for individually. If the purchased credit impaired loan is being accounted for as part of a pool, it will not be removed from the pool. As of December 31, 2013, it has not been necessary to remove any loans from PCI accounting. | |||||||||||||||||||||||||
In general, once a modified loan is considered a TDR, the loan will always be considered a TDR, and therefore impaired, until it is paid in full, otherwise settled, sold or charged off. However, our policy also permits for loans to be removed from TDR status in the years following the restructuring if the following two conditions are met: (1) The restructuring agreement specifies an interest rate equal to or greater than the rate that we were willing to accept at the time of the restructuring for a new loan with comparable risk, and (2) the loan is not impaired based on the terms specified by the restructuring agreement. | |||||||||||||||||||||||||
The following table presents activity in TDRs for the twelve months ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Total | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Troubled debt restructuring: | |||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 12,660 | $ | 18,422 | $ | 473 | $ | 499 | $ | 32,054 | |||||||||||||||
(Charge-offs)/recoveries | 879 | 1 | (61 | ) | 1 | 820 | |||||||||||||||||||
Payments | (6,251 | ) | (5,635 | ) | (455 | ) | (57 | ) | (12,398 | ) | |||||||||||||||
Additions | 15,155 | 9,851 | 1,484 | 1,901 | 28,391 | ||||||||||||||||||||
Balance December 31, 2013 | $ | 22,443 | $ | 22,639 | $ | 1,441 | $ | 2,344 | $ | 48,867 | |||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Total | ||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Troubled debt restructuring: | |||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 7,086 | $ | 5,851 | $ | 53 | $ | — | $ | 12,990 | |||||||||||||||
Charge-offs | (2,230 | ) | (234 | ) | (20 | ) | — | (2,484 | ) | ||||||||||||||||
Payments | (1,770 | ) | (4,849 | ) | (20 | ) | (35 | ) | (6,674 | ) | |||||||||||||||
Additions | 9,574 | 17,654 | 460 | 534 | 28,222 | ||||||||||||||||||||
Balance December 31, 2012 | $ | 12,660 | $ | 18,422 | $ | 473 | $ | 499 | $ | 32,054 | |||||||||||||||
Purchased Impaired Loans (non-covered loans) | |||||||||||||||||||||||||
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan and lease losses. In determining the estimated fair value of purchased loans, management considers a number of factors including the remaining life of the acquired loans, estimated prepayments, estimated loss ratios, estimated value of the underlying collateral, net present value of cash flows expected to be received, among others. Purchased loans are accounted for in accordance with guidance for certain loans acquired in a transfer (ASC 310-30), when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the acquirer will not collect all contractually required principal and interest payments. The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference. Subsequent decreases to the expected cash flows will generally result in a provision for loan and lease losses. Subsequent increases in expected cash flows will result in a reversal of the provision for loan losses to the extent of prior charges and then an adjustment to accretable yield, which would have a positive impact on interest income. | |||||||||||||||||||||||||
Old National has purchased loans for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Of these acquired credit impaired loans, $4.0 million in carrying balances did not meet the criteria to be accounted for under the guidance of ASC 310-30 as they were revolving lines of credit, thus these lines have not been included in the following table. For these noncovered loans that meet the criteria of ASC 310-30 treatment, the carrying amount is as follows: | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Commercial | $ | 648 | $ | 7,859 | |||||||||||||||||||||
Commercial real estate | 23,618 | 52,981 | |||||||||||||||||||||||
Consumer | 12,725 | 22,432 | |||||||||||||||||||||||
Residential | 154 | 123 | |||||||||||||||||||||||
Outstanding balance | $ | 37,145 | $ | 83,395 | |||||||||||||||||||||
Carrying amount, net of allowance | $ | 34,576 | $ | 79,120 | |||||||||||||||||||||
Allowance for loan losses | $ | 2,569 | $ | 4,275 | |||||||||||||||||||||
The outstanding balance of noncovered loans accounted for under ASC 310-30, including contractual principal, interest, fees and penalties, was $115.0 million and $179.5 million as of December 31, 2013 and, 2012, respectively. | |||||||||||||||||||||||||
The accretable difference on purchased loans acquired in a business combination is the difference between the expected cash flows and the net present value of expected cash flows with such difference accreted into earnings using the effective yield method over the term of the loans. Accretion of $16.8 million has been recorded as loan interest income in 2013. Accretion of $11.5 million has been recorded as loan interest income in 2012. Improvement in cash flow expectations has resulted in a reclassification from nonaccretable difference to accretable yield. | |||||||||||||||||||||||||
Accretable yield of noncovered loans, or income expected to be collected, is as follows: | |||||||||||||||||||||||||
Integra | |||||||||||||||||||||||||
(dollars in thousands) | Monroe | Noncovered | IBT | Total | |||||||||||||||||||||
Balance at January 1, 2013 | $ | 11,834 | $ | 3,575 | $ | 16,170 | $ | 31,579 | |||||||||||||||||
New loans purchased | — | — | — | — | |||||||||||||||||||||
Accretion of income | (5,647 | ) | (1,311 | ) | (9,819 | ) | (16,777 | ) | |||||||||||||||||
Reclassifications from (to) nonaccretable difference | 521 | 210 | 12,778 | 13,509 | |||||||||||||||||||||
Disposals/other adjustments | 79 | (49 | ) | (50 | ) | (20 | ) | ||||||||||||||||||
Balance at December 31, 2013 | $ | 6,787 | $ | 2,425 | $ | 19,079 | $ | 28,291 | |||||||||||||||||
Included in Old National’s allowance for loan losses is $2.6 million related to the purchased loans disclosed above for 2013. Included in Old National’s allowance for loan losses is $4.3 million related to the purchased loans in 2012. An immaterial amount of allowances for loan losses were reversed during 2013 and 2012 related to these loans. | |||||||||||||||||||||||||
At acquisition, purchased loans, both covered and noncovered, for which it was probable at acquisition that all contractually required payments would not be collected were as follows: | |||||||||||||||||||||||||
Monroe | Integra | ||||||||||||||||||||||||
(dollars in thousands) | Bancorp | Bank | IBT | ||||||||||||||||||||||
Contractually required payments | $ | 94,714 | $ | 921,856 | $ | 118,535 | |||||||||||||||||||
Nonaccretable difference | (45,157 | ) | (226,426 | ) | (53,165 | ) | |||||||||||||||||||
Cash flows expected to be collected at acquisition | 49,557 | 695,430 | 65,370 | ||||||||||||||||||||||
Accretable yield | (6,971 | ) | (98,487 | ) | (11,945 | ) | |||||||||||||||||||
Fair value of acquired loans at acquisition | $ | 42,586 | $ | 596,943 | $ | 53,425 | |||||||||||||||||||
Income is not recognized on certain purchased loans if Old National cannot reasonably estimate cash flows to be collected. Old National had no purchased loans for which it could not reasonably estimate cash flows to be collected. |
Covered_Loans
Covered Loans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Covered Loans | ' | ||||||||||||||||
NOTE 7 – COVERED LOANS | |||||||||||||||||
Covered loans represent loans acquired from the FDIC that are subject to loss share agreements. The carrying amount of covered loans was $217.8 million at December 31, 2013. The composition of covered loans by lending classification was as follows: | |||||||||||||||||
At December 31, 2013 | |||||||||||||||||
Loans Accounted for | Loans excluded from | ||||||||||||||||
Under ASC 310-30 | ASC 310-30 (1) | ||||||||||||||||
(Purchased Credit | (Not Purchased Credit | Total Covered | |||||||||||||||
(dollars in thousands) | Impaired) | Impaired) | Purchased Loans | ||||||||||||||
Commercial | $ | 12,281 | $ | 17,054 | $ | 29,335 | |||||||||||
Commercial real estate | 77,232 | 4,696 | 81,928 | ||||||||||||||
Residential | 27,704 | 149 | 27,853 | ||||||||||||||
Consumer | 17,673 | 61,043 | 78,716 | ||||||||||||||
Covered loans | 134,890 | 82,942 | 217,832 | ||||||||||||||
Allowance for loan losses | (3,852 | ) | (1,552 | ) | (5,404 | ) | |||||||||||
Covered loans, net | $ | 131,038 | $ | 81,390 | $ | 212,428 | |||||||||||
-1 | Includes loans with revolving privileges which are scoped out of FASB ASC Topic 310-30 and certain loans which Old National elected to treat under the cost recovery method of accounting. | ||||||||||||||||
Loans were recorded at fair value in accordance with FASB ASC 805, Business Combinations. No allowance for loan losses related to the acquired loans is recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in FASB ASC 820, exclusive of the loss share agreements with the FDIC. The fair value estimates associated with the loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. | |||||||||||||||||
The outstanding balance of covered loans accounted for under ASC 310-30, including contractual principal, interest, fees and penalties, was $406.3 million and $529.2 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||
The following table is a roll-forward of acquired impaired loans accounted for under ASC 310-30 for 2013: | |||||||||||||||||
Contractual | Nonaccretable | Accretable | Carrying | ||||||||||||||
(dollars in thousands) | Cash Flows (1) | Difference | Yield | Amount (2) | |||||||||||||
Balance at January 1, 2013 | $ | 424,527 | $ | (90,996 | ) | $ | (85,779 | ) | $ | 247,752 | |||||||
Principal reductions and interest payments | (144,512 | ) | — | — | (144,512 | ) | |||||||||||
Accretion of loan discount | — | — | 35,363 | 35,363 | |||||||||||||
Changes in contractual and expected cash flows due to remeasurement | (20,242 | ) | 43,424 | (21,608 | ) | 1,574 | |||||||||||
Removals due to foreclosure or sale | (8,731 | ) | 779 | (1,187 | ) | (9,139 | ) | ||||||||||
Balance at December 31, 2013 | $ | 251,042 | $ | (46,793 | ) | $ | (73,211 | ) | $ | 131,038 | |||||||
-1 | The balance of contractual cash flows includes future contractual interest and is net of amounts charged off and interest collected on nonaccrual loans. | ||||||||||||||||
-2 | Carrying amount for this table is net of allowance for loan losses. | ||||||||||||||||
The following table is a roll-forward of acquired impaired loans accounted for under ASC 310-30 for 2012: | |||||||||||||||||
Contractual | Nonaccretable | Accretable | Carrying | ||||||||||||||
(dollars in thousands) | Cash Flows (1) | Difference | Yield | Amount (2) | |||||||||||||
Balance at January 1, 2012 | $ | 729,496 | $ | (180,655 | ) | $ | (92,053 | ) | $ | 456,788 | |||||||
Principal reductions and interest payments | (235,249 | ) | — | — | (235,249 | ) | |||||||||||
Accretion of loan discount | — | — | 52,173 | 52,173 | |||||||||||||
Changes in contractual and expected cash flows due to remeasurement | (37,921 | ) | 76,757 | (45,539 | ) | (6,703 | ) | ||||||||||
Removals due to foreclosure or sale | (31,799 | ) | 12,902 | (360 | ) | (19,257 | ) | ||||||||||
Balance at December 31, 2012 | $ | 424,527 | $ | (90,996 | ) | $ | (85,779 | ) | $ | 247,752 | |||||||
-1 | The balance of contractual cash flows includes future contractual interest and is net of amounts charged off and interest collected on nonaccrual loans. | ||||||||||||||||
-2 | Carrying amount for this table is net of allowance for loan losses. | ||||||||||||||||
Over the life of the acquired loans, we continue to estimate cash flows expected to be collected on individual loans or on pools of loans sharing common risk characteristics and were treated in the aggregate when applying various valuation techniques. We evaluate at each balance sheet date whether the present value of its loans determined using the effective interest rates has decreased and if so, recognizes a provision for loan losses. For any increases in cash flows expected to be collected, we adjust the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s remaining life. Eighty percent of the prospective yield adjustments are offset as Old National will recognize a corresponding decrease in cash flows expected from the indemnification asset prospectively in a similar manner. The indemnification asset is adjusted over the shorter of the life of the underlying investment or the indemnification agreement. | |||||||||||||||||
Accretable yield, or income expected to be collected on the covered loans accounted for under ASC 310-30, is as follows: | |||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||
Balance at January 1, | $ | 85,779 | $ | 92,053 | |||||||||||||
New loans purchased | — | — | |||||||||||||||
Accretion of income | (35,363 | ) | (52,173 | ) | |||||||||||||
Reclassifications from (to) nonaccretable difference | 21,608 | 45,539 | |||||||||||||||
Disposals/other adjustments | 1,187 | 360 | |||||||||||||||
Balance at December 31, | $ | 73,211 | $ | 85,779 | |||||||||||||
At December 31, 2013, the $88.5 million loss sharing asset is comprised of a $73.7 million FDIC indemnification asset and a $14.8 million FDIC loss share receivable. The loss share receivable represents actual incurred losses where reimbursement has not yet been received from the FDIC. The indemnification asset represents future cash flows we expect to collect from the FDIC under the loss sharing agreements and the amount related to the estimated improvements in cash flow expectations that are being amortized over the same period for which those improved cash flows are being accreted into income. At December 31, 2013, $41.5 million of the FDIC indemnification asset is related to expected indemnification payments and $32.2 million is expected to be amortized and reported in noninterest income as an offset to future accreted interest income. At December 31, 2012, $99.5 million of the FDIC indemnification asset was related to expected indemnification payments and $7.9 million was expected to be amortized and reported in noninterest income as an offset to future accreted interest income. | |||||||||||||||||
For covered loans, we remeasure contractual and expected cash flows on a quarterly basis. When the quarterly re-measurement process results in a decrease in expected cash flows due to an increase in expected credit losses, impairment is recorded. As a result of this impairment, the indemnification asset is increased to reflect anticipated future cash flows to be received from the FDIC. Consistent with the loss sharing agreements between Old National and the FDIC, the amount of the increase to the indemnification asset is measured at 80% of the resulting impairment. | |||||||||||||||||
Alternatively, when the quarterly re-measurement results in an increase in expected future cash flows due to a decrease in expected credit losses, the nonaccretable difference decreases and the effective yield of the related loan portfolio is increased. As a result of the improved expected cash flows, the indemnification asset would be reduced first by the amount of any impairment previously recorded and, second, by increased amortization over the remaining life of the related loss sharing agreements or the remaining life of the indemnification asset, whichever is shorter. | |||||||||||||||||
The following table shows a detailed analysis of the FDIC loss sharing asset for the twelve months ended December 31, 2013 and 2012: | |||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||
Balance at January 1, | $ | 116,624 | $ | 168,881 | |||||||||||||
Adjustments not reflected in income | |||||||||||||||||
Established through acquisitions | — | — | |||||||||||||||
Cash received from the FDIC | (19,527 | ) | (48,223 | ) | |||||||||||||
Other | 704 | (659 | ) | ||||||||||||||
Adjustments reflected in income | |||||||||||||||||
(Amortization) accretion | (10,072 | ) | (13,128 | ) | |||||||||||||
Impairment | 32 | 1,069 | |||||||||||||||
Write-downs/sale of other real estate | 1,933 | 12,637 | |||||||||||||||
Recovery amounts due to FDIC | (1,243 | ) | (3,223 | ) | |||||||||||||
Other | 62 | (730 | ) | ||||||||||||||
Balance at December 31, | $ | 88,513 | $ | 116,624 | |||||||||||||
Other_Real_Estate_Owned
Other Real Estate Owned | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Other Real Estate Owned | ' | ||||||||
NOTE 8 – OTHER REAL ESTATE OWNED | |||||||||
The following table shows the carrying amount for other real estate owned at December 31, 2013 and 2012: | |||||||||
Other Real Estate | Other Real Estate | ||||||||
(dollars in thousands) | Owned (1) | Owned, Covered | |||||||
Balance, January 1, 2013 | $ | 11,179 | $ | 26,137 | |||||
Additions | 7,278 | 6,368 | |||||||
Sales | (9,316 | ) | (14,813 | ) | |||||
Gains (losses)/Write-downs | (1,579 | ) | (4,022 | ) | |||||
Balance, December 31, 2013 | $ | 7,562 | $ | 13,670 | |||||
-1 | Includes $0.3 million of repossessed personal property at December 31, 2013. | ||||||||
Other Real Estate | Other Real Estate | ||||||||
(dollars in thousands) | Owned (1) | Owned, Covered | |||||||
Balance, January 1, 2012 | $ | 7,119 | $ | 30,443 | |||||
Acquired | 6,111 | — | |||||||
Additions | 11,559 | 21,249 | |||||||
Sales | (10,723 | ) | (9,805 | ) | |||||
Gains (losses)/Write-downs | (2,887 | ) | (15,750 | ) | |||||
Balance, December 31, 2012 | $ | 11,179 | $ | 26,137 | |||||
-1 | Includes $0.5 million of repossessed personal property at December 31, 2012. | ||||||||
Covered OREO expenses and valuation write-downs are recorded in the noninterest expense section of the consolidated statements of income. Under the loss sharing agreements, the FDIC will reimburse us for 80% of expenses and valuation write-downs related to covered assets up to $275.0 million, losses in excess of $275.0 million up to $467.2 million at 0%, and 80% of losses in excess of $467.2 million. As of December 31, 2013, we do not expect losses to exceed $275.0 million. The reimbursable portion of these expenses is recorded in the FDIC indemnification asset. Changes in the FDIC indemnification asset are recorded in the noninterest income section of the consolidated statements of income. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||||
NOTE 9 – GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||||||
The following table shows the changes in the carrying amount of goodwill by segment for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||
Wealth | |||||||||||||||||||||
(dollars in thousands) | Banking | Insurance | Management | Other | Total | ||||||||||||||||
Balance, January 1, 2013 | $ | 297,055 | $ | 39,873 | $ | 1,892 | $ | — | $ | 338,820 | |||||||||||
Goodwill acquired during the period | 13,909 | — | — | — | 13,909 | ||||||||||||||||
Balance, December 31, 2013 | $ | 310,964 | $ | 39,873 | $ | 1,892 | $ | — | $ | 352,729 | |||||||||||
Balance, January 1, 2012 | $ | 212,412 | $ | 39,873 | $ | 892 | $ | — | $ | 253,177 | |||||||||||
Goodwill acquired during the period | 84,643 | — | 1,000 | — | 85,643 | ||||||||||||||||
Balance, December 31, 2012 | $ | 297,055 | $ | 39,873 | $ | 1,892 | $ | — | $ | 338,820 | |||||||||||
Goodwill is reviewed annually for impairment. Old National completed its most recent annual goodwill impairment test as of August 31, 2013 and concluded that, based on current events and circumstances, it is not more likely than not that the carry value of goodwill exceeds fair value. During the third quarter of 2013, Old National recorded $13.3 million of goodwill associated with the acquisition of 24 retail bank branches from Bank of America. This was allocated to the “Banking” segment. During the second quarter of 2013, Old National recorded $0.6 million of goodwill primarily related to the final pension settlement associated with the IBT acquisition. This was allocated to the “Banking” segment. The final purchase price allocation resulted in goodwill of $86.2 million associated with the IBT acquisition. During the second half of 2012, Old National had initially recorded $85.6 million of goodwill associated with the acquisition of IBT, of which $84.6 million was allocated to the “Banking” segment and $1.0 million to the “Wealth Management” segment. | |||||||||||||||||||||
The gross carrying amounts and accumulated amortization of other intangible assets at December 31, 2013 and 2012 was as follows: | |||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||||||
(dollars in thousands) | Amount | Amortization | Amount | ||||||||||||||||||
2013 | |||||||||||||||||||||
Amortized intangible assets: | |||||||||||||||||||||
Core deposit | $ | 44,021 | $ | (31,266 | ) | $ | 12,755 | ||||||||||||||
Customer business relationships | 27,848 | (19,826 | ) | 8,022 | |||||||||||||||||
Customer trust relationships | 5,352 | (1,810 | ) | 3,542 | |||||||||||||||||
Customer loan relationships | 4,413 | (2,775 | ) | 1,638 | |||||||||||||||||
Total intangible assets | $ | 81,634 | $ | (55,677 | ) | $ | 25,957 | ||||||||||||||
2012 | |||||||||||||||||||||
Amortized intangible assets: | |||||||||||||||||||||
Core deposit | $ | 40,559 | $ | (25,908 | ) | $ | 14,651 | ||||||||||||||
Customer business relationships | 26,411 | (18,153 | ) | 8,258 | |||||||||||||||||
Customer trust relationships | 5,352 | (1,080 | ) | 4,272 | |||||||||||||||||
Customer loan relationships | 4,413 | (2,374 | ) | 2,039 | |||||||||||||||||
Total intangible assets | $ | 76,735 | $ | (47,515 | ) | $ | 29,220 | ||||||||||||||
Other intangible assets consist of core deposit intangibles and customer relationship intangibles and are being amortized primarily on an accelerated basis over their estimated useful lives, generally over a period of 5 to 15 years. During the fourth quarter of 2013, Old National increased customer business relationships by $1.3 million related to the purchase of an insurance book of business, which is included in the “Insurance” segment. During the third quarter of 2013, Old National increased core deposit intangibles by $3.5 million related to the acquisition of 24 retail bank branches from Bank of America., which is included in the “Banking” segment. During the second quarter of 2013, Old National increased customer business relationships by $0.1 million related to the purchase of an insurance book of business, which is included in the “Insurance” segment. Also during the second quarter of 2013, Old National decreased customer business relationships by $0.1 million related to the sale of an insurance book of business, which is included in the “Insurance” segment. During the third quarter of 2012, Old National increased core deposit intangibles by $1.3 million related to the acquisition of IBT, which is included in the “Banking” segment. Also during the third quarter of 2012, Old National increased customer trust relationship intangibles by $1.7 million associated with the trust business of IBT, which is included in the “Wealth Management” segment. During the second quarter of 2012, Old National increased customer business relationships by $0.5 million relating to the purchase of an insurance book of business, which is included in the “Insurance” segment. See Note 24 to the consolidated financial statements for a description of the Company’s operating segments. | |||||||||||||||||||||
Old National reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. No impairment charges were recorded in 2013, 2012 or 2011. Total amortization expense associated with intangible assets was $8.2 million in 2013, $7.9 million in 2012 and $8.8 million in 2011. Included in expense for the first quarter of 2013 is $0.6 million related to the branch sales that occurred in the first quarter. | |||||||||||||||||||||
Estimated amortization expense for the future years is as follows: | |||||||||||||||||||||
Estimated | |||||||||||||||||||||
Amortization | |||||||||||||||||||||
(dollars in thousands) | Expense | ||||||||||||||||||||
2014 | $ | 6,872 | |||||||||||||||||||
2015 | 5,610 | ||||||||||||||||||||
2016 | 4,539 | ||||||||||||||||||||
2017 | 3,145 | ||||||||||||||||||||
2018 | 2,178 | ||||||||||||||||||||
Thereafter | 3,613 | ||||||||||||||||||||
Total | $ | 25,957 | |||||||||||||||||||
Deposits
Deposits | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
Deposits | ' | ||||
NOTE 10—DEPOSITS | |||||
The aggregate amount of time deposits in denominations of $100,000 or more at December 31, 2013 and 2012 was $265.3 million and $365.5 million, respectively. At December 31, 2013, the scheduled maturities of total time deposits were as follows: | |||||
(dollars in thousands) | |||||
Due in 2014 | $ | 587,412 | |||
Due in 2015 | 182,542 | ||||
Due in 2016 | 145,331 | ||||
Due in 2017 | 37,575 | ||||
Due in 2018 | 35,681 | ||||
Thereafter | 29,434 | ||||
Total | $ | 1,017,975 | |||
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Short-Term Borrowings | ' | ||||||||||||||||
NOTE 11 – SHORT-TERM BORROWINGS | |||||||||||||||||
The following table presents the distribution of Old National’s short-term borrowings and related weighted-average interest rates for each of the years ended December 31: | |||||||||||||||||
Other | |||||||||||||||||
Federal Funds | Repurchase | Short-term | |||||||||||||||
(dollars in thousands) | Purchased | Agreements | Borrowings | Total | |||||||||||||
2013 | |||||||||||||||||
Outstanding at year-end | $ | 115,103 | $ | 347,229 | $ | — | $ | 462,332 | |||||||||
Average amount outstanding | 176,033 | 341,620 | — | 517,653 | |||||||||||||
Maximum amount outstanding at any month-end | 466,861 | 425,191 | — | ||||||||||||||
Weighted average interest rate: | |||||||||||||||||
During year | 0.22 | % | 0.07 | % | — | % | 0.12 | % | |||||||||
End of year | 0.2 | 0.05 | — | 0.09 | |||||||||||||
2012 | |||||||||||||||||
Outstanding at year-end | $ | 231,688 | $ | 358,127 | $ | — | $ | 589,815 | |||||||||
Average amount outstanding | 89,697 | 324,215 | 9 | 413,921 | |||||||||||||
Maximum amount outstanding at any month-end | 251,363 | 361,490 | — | ||||||||||||||
Weighted average interest rate: | |||||||||||||||||
During year | 0.17 | % | 0.12 | % | 7.51 | % | 0.13 | % | |||||||||
End of year | 0.18 | 0.1 | — | 0.13 | |||||||||||||
Financing_Activities
Financing Activities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Financing Activities | ' | ||||||||
NOTE 12 - FINANCING ACTIVITIES | |||||||||
The following table summarizes Old National and its subsidiaries’ other borrowings at December 31: | |||||||||
(dollars in thousands) | 2013 | 2012 | |||||||
Old National Bancorp: | |||||||||
Junior subordinated debentures (variable rates 1.84% to 1.99%) maturing March 2035 to June 2037 | $ | 28,000 | $ | 28,000 | |||||
ASC 815 fair value hedge and other basis adjustments | (3,262 | ) | (3,339 | ) | |||||
Old National Bank: | |||||||||
Securities sold under agreements to repurchase (fixed rates 2.47% to 2.50%) maturing January 2017 to January 2018 | 50,000 | 50,000 | |||||||
Federal Home Loan Bank advances (fixed rates 0.15% to 8.34% and variable rates 0.32% to 0.36%) maturing January 2014 to January 2023 | 477,856 | 155,323 | |||||||
Capital lease obligation | 4,157 | 4,211 | |||||||
ASC 815 fair value hedge and other basis adjustments | (363 | ) | 3,298 | ||||||
Total other borrowings | $ | 556,388 | $ | 237,493 | |||||
Contractual maturities of long-term debt at December 31, 2013, were as follows: | |||||||||
(dollars in thousands) | |||||||||
Due in 2014 | $ | 175,757 | |||||||
Due in 2015 | 63 | ||||||||
Due in 2016 | 117,395 | ||||||||
Due in 2017 | 46,041 | ||||||||
Due in 2018 | 45,672 | ||||||||
Thereafter | 175,085 | ||||||||
ASC 815 fair value hedge and other basis adjustments | (3,625 | ) | |||||||
Total | $ | 556,388 | |||||||
FEDERAL HOME LOAN BANK | |||||||||
FHLB advances had weighted-average rates of 0.94% and 3.07% at December 31, 2013, and 2012, respectively. These borrowings are collateralized by investment securities and residential real estate loans up to 145% of outstanding debt. | |||||||||
In the first nine months of 2013, Old National terminated $50.0 million of FHLB advances, resulting in a loss on extinguishment of debt of $1.0 million. Old National also restructured $33.4 million pertaining to two FHLB advances in the first quarter of 2013, which lowered their effective interest rates from 3.27% and 3.29% to 2.04% and 2.49%, respectively. In the fourth quarter of 2012, Old National terminated $50.0 million of FHLB advances and related interest rate swaps, resulting in a loss on extinguishment of debt of $1.9 million. | |||||||||
SUBORDINATED NOTES | |||||||||
In 2011, Old National acquired Monroe Bancorp. Included in the acquisition was $13 million of 10% subordinated notes. Old National redeemed the notes, in whole, on June 30, 2012. | |||||||||
JUNIOR SUBORDINATED DEBENTURES | |||||||||
Junior subordinated debentures related to trust preferred securities are classified in “other borrowings”. These securities qualify as Tier 1 capital for regulatory purposes, subject to certain limitations. | |||||||||
In 2007, Old National acquired St. Joseph Capital Trust II in conjunction with its acquisition of St. Joseph Capital Corporation. Old National guarantees the payment of distributions on the trust preferred securities issued by St. Joseph Capital Trust II. St. Joseph Capital Trust II issued $5.0 million in preferred securities in March 2005. The preferred securities had a cumulative annual distribution rate of 6.27% until March 2010 and now carry a variable rate of interest priced at the three-month LIBOR plus 175 basis points, payable quarterly and maturing on March 17, 2035. Proceeds from the issuance of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by St. Joseph Capital Trust II. Old National, at any time, may redeem the junior subordinated debentures at par and thereby cause a redemption of the trust preferred securities. | |||||||||
In 2011, Old National acquired Monroe Bancorp Capital Trust I and Monroe Bancorp Statutory Trust II in conjunction with its acquisition of Monroe Bancorp. Old National guarantees the payment of distributions on the trust preferred securities issued by Monroe Bancorp Capital Trust I and Monroe Bancorp Statutory Trust II. Monroe Bancorp Capital Trust I issued $3.0 million in preferred securities in July 2006. The preferred securities carried a fixed rate of interest of 7.15% until October 7, 2011 and thereafter a variable rate of interest priced at the three-month LIBOR plus 160 basis points. Proceeds from the issuance of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by Monroe Bancorp Capital Trust I. Monroe Bancorp Statutory Trust II issued $5.0 million in preferred securities in March 2007. The preferred securities carried a fixed rate of interest of 6.52% until June 15, 2012 and thereafter a variable rate of interest priced at the three-month LIBOR plus 160 basis points. Proceeds from the issuance of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by Monroe Bancorp Statutory Trust II. Old National, at any time, may redeem the junior subordinated debentures at par and thereby cause a redemption of the trust preferred securities in whole or in part. | |||||||||
In 2012, Old National acquired Home Federal Statutory Trust I in conjunction with its acquisition of Indiana Community Bancorp. Old National guarantees the payment of distributions on the trust preferred securities issued by Home Federal Statutory Trust I. Home Federal Statutory Trust I issued $15.0 million in preferred securities in September 2006. The preferred securities carry a variable rate of interest priced at the three-month LIBOR plus 165 basis points. Proceeds from the issuance of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by Home Federal Statutory Trust I. Old National, at any time, may redeem the junior subordinated debentures at par and thereby cause a redemption of the trust preferred securities in whole or in part. | |||||||||
CAPITAL LEASE OBLIGATION | |||||||||
On January 1, 2004, Old National entered into a long-term capital lease obligation for a branch office building in Owensboro, Kentucky, which extends for 25 years with one renewal option for 10 years. The economic substance of this lease is that Old National is financing the acquisition of the building through the lease and accordingly, the building is recorded as an asset and the lease is recorded as a liability. The fair value of the capital lease obligation was estimated using a discounted cash flow analysis based on Old National’s current incremental borrowing rate for similar types of borrowing arrangements. | |||||||||
At December 31, 2013, the future minimum lease payments under the capital lease were as follows: | |||||||||
(dollars in thousands) | |||||||||
2014 | $ | 410 | |||||||
2015 | 410 | ||||||||
2016 | 410 | ||||||||
2017 | 410 | ||||||||
2018 | 410 | ||||||||
Thereafter | 9,264 | ||||||||
Total minimum lease payments | 11,314 | ||||||||
Less amounts representing interest | 7,157 | ||||||||
Present value of net minimum lease payments | $ | 4,157 | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 13 – INCOME TAXES | |||||||||||||
Following is a summary of the major items comprising the differences in taxes computed at the federal statutory tax rate and as recorded in the consolidated statement of income for the years ended December 31: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Provision at statutory rate of 35% | $ | 49,881 | $ | 44,725 | $ | 34,917 | |||||||
Tax-exempt income: | |||||||||||||
Tax-exempt interest | (10,125 | ) | (8,590 | ) | (8,035 | ) | |||||||
Section 291/265 interest disallowance | 107 | 147 | 213 | ||||||||||
Bank owned life insurance income | (2,609 | ) | (2,258 | ) | (1,863 | ) | |||||||
Tax-exempt income | (12,627 | ) | (10,701 | ) | (9,685 | ) | |||||||
Reserve for unrecognized tax benefits | (381 | ) | (292 | ) | (623 | ) | |||||||
State income taxes | 3,386 | 3,409 | 3,188 | ||||||||||
State statutory rate change | 1,257 | — | — | ||||||||||
Other, net | 81 | (1,031 | ) | (495 | ) | ||||||||
Income tax expense | $ | 41,597 | $ | 36,110 | $ | 27,302 | |||||||
Effective tax rate | 29.2 | % | 28.3 | % | 27.4 | % | |||||||
The effective tax rate increased from 2011 to 2013 as a result of increases in pre-tax income. In 2013, there was also an increase in income tax expense of approximately $1.3 million related to a statutory rate change during the second quarter. The provision for income taxes consisted of the following components for the years ended December 31: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income taxes currently payable | |||||||||||||
Federal | $ | 13,901 | $ | 21,015 | $ | 6,742 | |||||||
State | (51 | ) | 1,975 | 288 | |||||||||
Deferred income taxes related to: | |||||||||||||
Federal | 22,983 | 11,052 | 17,422 | ||||||||||
State | 4,764 | 2,068 | 2,850 | ||||||||||
Deferred income tax expense | 27,747 | 13,120 | 20,272 | ||||||||||
Provision for income taxes | $ | 41,597 | $ | 36,110 | $ | 27,302 | |||||||
Significant components of net deferred tax assets (liabilities) were as follows at December 31: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||
Deferred Tax Assets | |||||||||||||
Allowance for loan losses, net of recapture | $ | 16,891 | $ | 20,861 | |||||||||
Benefit plan accruals | 15,331 | 18,389 | |||||||||||
AMT credit | 21,268 | 23,029 | |||||||||||
Unrealized losses on benefit plans | 4,011 | 8,347 | |||||||||||
Net operating loss carryforwards | 3,763 | 5,135 | |||||||||||
Premises and equipment | 24,221 | 30,790 | |||||||||||
Federal tax credits | 422 | — | |||||||||||
Other-than-temporary-impairment | 4,939 | 7,546 | |||||||||||
Loans - ASC 310 | 51,546 | 90,516 | |||||||||||
Other real estate owned | — | 8,715 | |||||||||||
Lease exit obligation | 2,654 | 1,232 | |||||||||||
Unrealized losses on available-for-sale investment securities | 13,276 | — | |||||||||||
Unrealized losses on held-to-maturity investment securities | 8,567 | — | |||||||||||
Unrealized losses on hedges | 116 | — | |||||||||||
Other, net | 5,406 | 5,415 | |||||||||||
Total deferred tax assets | 172,411 | 219,975 | |||||||||||
Deferred Tax Liabilities | |||||||||||||
Accretion on investment securities | (438 | ) | (590 | ) | |||||||||
Lease receivable, net | (395 | ) | (3,757 | ) | |||||||||
Other real estate owned | (701 | ) | — | ||||||||||
Purchase accounting | (7,355 | ) | (6,737 | ) | |||||||||
FDIC indemnification asset | (27,938 | ) | (64,152 | ) | |||||||||
Unrealized gains on available-for-sale investment securities | — | (24,972 | ) | ||||||||||
Unrealized gains on held-to-maturity securities | — | (2,177 | ) | ||||||||||
Other, net | (2,028 | ) | (1,274 | ) | |||||||||
Total deferred tax liabilities | (38,855 | ) | (103,659 | ) | |||||||||
Net deferred tax assets | $ | 133,556 | $ | 116,316 | |||||||||
The net deferred tax asset is included with other assets on the balance sheet. No valuation allowance was recorded at December 31, 2013 and 2012 because, based on current expectations, Old National believes it will generate sufficient income in future years to realize deferred tax assets. Old National has federal net operating loss carryforwards at December 31, 2013 and 2012 of $6.6 million and $9.3 million, respectively. This federal net operating loss was acquired from the recent acquisition of IBT. If not used, the federal net operating loss carryforwards will begin to expire in 2032. Old National has alternative minimum tax credit carryforwards at December 31, 2013 and 2012 of $21.3 million and $23.0 million, respectively. The alternative minimum tax credit carryforward does not expire. Old National has federal tax credit carryforwards of $0.4 million and $0 million for the years ended December 31, 2013 and 2012, respectively. The federal tax credits consist of new market tax credits that, if not used, will begin to expire in 2030. Old National has state net operating loss carryforwards totaling $32.3 million and $34.6 million at December 31, 2013 and 2012, respectively. If not used, the state net operating loss carryforwards will begin to expire in 2023. | |||||||||||||
Unrecognized Tax Benefits | |||||||||||||
Unrecognized state income tax benefits are reported net of their related deferred federal income tax benefit. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at January 1 | $ | 3,953 | $ | 4,145 | $ | 4,553 | |||||||
Additions based on tax positions related to the current year | 34 | 2 | 4 | ||||||||||
Reductions due to statute of limitations expiring | (140 | ) | (194 | ) | (412 | ) | |||||||
Balance at December 31 | $ | 3,847 | $ | 3,953 | $ | 4,145 | |||||||
Approximately $0.05 million of unrecognized tax benefits, net of interest, if recognized, would favorably affect the effective income tax rate in future periods. The Company expects the total amount of unrecognized tax benefits to decrease by approximately $3.8 million in the next twelve months. | |||||||||||||
It is our policy to recognize interest and penalties accrued relative to unrecognized tax benefits in their respective federal or state income tax accounts. We recorded interest and penalties in the income statement for the years ended December 31, 2013, 2012 and 2011 of $(0.2) million, $(0.1) million and $(0.2) million, respectively. The amount accrued for interest and penalties in the balance sheet at December 31, 2013 and 2012 was $1.1 million and $1.3 million, respectively. | |||||||||||||
Old National and its subsidiaries file a consolidated U.S. federal income tax return, as well as filing various state returns. The 2010 through 2013 tax years are open and subject to examination. In February 2014, the Company was notified that their 2011 federal tax return is under examination. The Company believes that their tax return was filed based on applicable statutes, regulations and case law in effect at the time. | |||||||||||||
In the third quarter of 2013, we reversed $0.38 million, including interest of $0.24 million not included in the table above, related to uncertain tax positions accounted for under FASB ASC 740-10 (FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes) (“ASC Topic 740-10”). The positive $0.38 million income tax reversal relates to the 2009 statute of limitations expiring. The statute of limitations expired in the third quarter of 2013. As a result, we reversed a total of $0.38 million from its unrecognized tax benefit liability which includes $0.24 million of interest. | |||||||||||||
In the third quarter of 2012, we reversed $0.29 million, including interest of $0.1 million not included in the table above, related to uncertain tax positions accounted for under ASC Topic 740-10. The positive $0.29 million income tax reversal relates to the 2008 statute of limitations expiring. The statute of limitations expired in the third quarter of 2012. As a result, we reversed a total of $0.29 million from its unrecognized tax benefit liability which includes $0.1 million of interest. | |||||||||||||
In the third quarter of 2011, we reversed $0.62 million, including interest of $0.21 million not included in the table above, related to uncertain tax positions accounted for under ASC Topic 740-10. The positive $0.62 million income tax reversal relates to the 2007 statute of limitations expiring. The statute of limitations expired in the third quarter of 2011. As a result, we reversed a total of $0.62 million from its unrecognized tax benefit liability which includes $0.21 million of interest. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||||
NOTE 14 - EMPLOYEE BENEFIT PLANS | |||||||||||||||||||
RETIREMENT PLAN AND RESTORATION PLAN | |||||||||||||||||||
Old National maintains a funded noncontributory defined benefit plan (the “Retirement Plan”) that was frozen as of December 31, 2005. Retirement benefits are based on years of service and compensation during the highest paid five consecutive years of employment. The freezing of the plan provides that future salary increases will not be considered. Old National’s policy is to contribute at least the minimum funding requirement determined by the plan’s actuary. | |||||||||||||||||||
Old National also maintains an unfunded pension restoration plan (the “Restoration Plan”) which provides benefits for eligible employees that are in excess of the limits under Section 415 of the Internal Revenue Code of 1986, as amended, that apply to the Retirement Plan. The Restoration Plan is designed to comply with the requirements of ERISA. The entire cost of the plan, which was also frozen as of December 31, 2005, is supported by contributions from Old National. | |||||||||||||||||||
Old National uses a December 31 measurement date for its defined benefit pension plans. The following table presents the combined activity of our defined benefit plans: | |||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||||
Change in Projected Benefit Obligation | |||||||||||||||||||
Balance at January 1 | $ | 48,728 | $ | 46,553 | |||||||||||||||
Interest cost | 1,740 | 1,971 | |||||||||||||||||
Benefits paid | (942 | ) | (893 | ) | |||||||||||||||
Actuarial loss | (3,783 | ) | 3,697 | ||||||||||||||||
Settlement | (4,422 | ) | (2,600 | ) | |||||||||||||||
Projected Benefit Obligation at December 31 | 41,321 | 48,728 | |||||||||||||||||
Change in Plan Assets | |||||||||||||||||||
Fair value at January 1 | 37,550 | 36,339 | |||||||||||||||||
Actual return on plan assets | 5,320 | 4,140 | |||||||||||||||||
Employer contributions | 410 | 564 | |||||||||||||||||
Benefits paid | (942 | ) | (893 | ) | |||||||||||||||
Settlement | (4,422 | ) | (2,600 | ) | |||||||||||||||
Fair value of Plan Assets at December 31 | 37,916 | 37,550 | |||||||||||||||||
Funded status at December 31 | (3,405 | ) | (11,178 | ) | |||||||||||||||
Amounts recognized in the statement of financial position at December 31: | |||||||||||||||||||
Accrued benefit liability | $ | (3,405 | ) | $ | (11,178 | ) | |||||||||||||
Net amount recognized | $ | (3,405 | ) | $ | (11,178 | ) | |||||||||||||
Amounts recognized in accumulated other comprehensive income at December 31: | |||||||||||||||||||
Net actuarial loss | $ | 10,530 | $ | 20,868 | |||||||||||||||
Total | $ | 10,530 | $ | 20,868 | |||||||||||||||
The estimated net loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $1.3 million. | |||||||||||||||||||
The accumulated benefit obligation and the projected benefit obligation were equivalent for the defined benefit pension plans and were $41.3 million and $48.7 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||
The net periodic benefit cost and its components were as follows for the years ended December 31: | |||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||||
Interest cost | $ | 1,740 | $ | 1,971 | $ | 2,099 | |||||||||||||
Expected return on plan assets | (2,202 | ) | (2,345 | ) | (2,704 | ) | |||||||||||||
Recognized actuarial loss | 2,318 | 4,027 | 2,755 | ||||||||||||||||
Net periodic benefit cost | $ | 1,856 | $ | 3,653 | $ | 2,150 | |||||||||||||
Settlement cost | 1,118 | 1,170 | 1,539 | ||||||||||||||||
Total net periodic benefit cost | $ | 2,974 | $ | 4,823 | $ | 3,689 | |||||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income | |||||||||||||||||||
Net actuarial (gain)/loss | $ | (6,901 | ) | $ | 1,903 | $ | 9,172 | ||||||||||||
Amortization of net actuarial loss | (2,318 | ) | (4,027 | ) | (2,755 | ) | |||||||||||||
Settlement cost | (1,118 | ) | (1,170 | ) | (1,539 | ) | |||||||||||||
Total recognized in Other Comprehensive Income | $ | (10,337 | ) | $ | (3,294 | ) | $ | 4,878 | |||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (7,363 | ) | $ | 1,529 | $ | 8,567 | ||||||||||||
The weighted-average assumptions used to determine the benefit obligations as of the end of the years indicated and the net periodic benefit cost for the years indicated are presented in the table below. Because the plans are frozen, increases in compensation are not considered. | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Benefit obligations: | |||||||||||||||||||
Discount rate at the end of the period | 4.75 | % | 4 | % | 4.55 | % | |||||||||||||
Net periodic benefit cost: | |||||||||||||||||||
Discount rate at the beginning of the period | 4 | % | 4.55 | % | 5.5 | % | |||||||||||||
Expected return on plan assets | 7.5 | 7.5 | 8 | ||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | ||||||||||||||||
The expected long-term rate of return for each asset class was developed by combining a long-term inflation component, the risk-free real rate of return and the associated risk premium. A weighted average rate was developed based on those overall rates and the target asset allocation of the plan. The discount rate used reflects the expected future cash flow based on Old National’s funding valuation assumptions and participant data as of the beginning of the plan year. The expected future cash flow is discounted by the Principal Pension Discount yield curve as of December 31, 2013. | |||||||||||||||||||
Old National’s asset allocation of the Retirement Plan as of year-end is presented in the following table. Old National’s Restoration Plan is unfunded. | |||||||||||||||||||
Expected | 2013 | ||||||||||||||||||
Asset Category | Long-Term | Target | 2013 | 2012 | 2011 | ||||||||||||||
Rate of Return | Allocation | ||||||||||||||||||
Equity securities | 9.00% - 9.50% | 40 -70 | % | 64 | % | 61 | % | 61 | % | ||||||||||
Debt securities | 4.00% - 5.85% | 30 -60 | % | 35 | 38 | 34 | |||||||||||||
Cash equivalents | — | 0 -15 | % | 1 | 1 | 5 | |||||||||||||
Total | 100 | % | 100 | % | 100 | % | |||||||||||||
Our overall investment strategy is to achieve a mix of approximately 40% to 70% of equity securities, 30% to 60% of debt securities and 0% to 15% of cash equivalents. Fixed income securities and cash equivalents must meet minimum rating standards. Exposure to any particular company or industry is also limited. The investment policy is reviewed annually. There was no Old National stock in the plan as of December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||
The fair value of our plan assets are determined based on observable level 1 or 2 pricing inputs, including quoted prices for similar assets in active or non-active markets. The holdings of the plan are comprised of pooled separate accounts, except for one mutual fund in the Fixed Income category. As of December 31, 2013, the fair value of plan assets, by asset category, is as follows: | |||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||
Significant | |||||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Plan Assets | |||||||||||||||||||
Large U.S. Equity | $ | 16,245 | $ | — | $ | 16,245 | $ | — | |||||||||||
International Equity | 8,120 | — | 8,120 | — | |||||||||||||||
Short-Term Fixed Income | 102 | — | 102 | — | |||||||||||||||
Fixed Income | 13,449 | 13,449 | — | — | |||||||||||||||
Total Plan Assets | $ | 37,916 | $ | 13,449 | $ | 24,467 | $ | — | |||||||||||
As of December 31, 2012, the fair value of plan assets, by asset category, was as follows: | |||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||
Significant | |||||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Plan Assets | |||||||||||||||||||
Large U.S. Equity | $ | 14,979 | $ | — | $ | 14,979 | $ | — | |||||||||||
International Equity | 7,979 | — | 7,979 | — | |||||||||||||||
Short-Term Fixed Income | 461 | — | 461 | — | |||||||||||||||
Fixed Income | 14,131 | 14,131 | — | — | |||||||||||||||
Total Plan Assets | $ | 37,550 | $ | 14,131 | $ | 23,419 | $ | — | |||||||||||
As of December 31, 2013, expected future benefit payments related to Old National’s defined benefit plans were as follows: | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||
2014 | $ | 8,800 | |||||||||||||||||
2015 | 4,030 | ||||||||||||||||||
2016 | 3,530 | ||||||||||||||||||
2017 | 4,360 | ||||||||||||||||||
2018 | 2,622 | ||||||||||||||||||
Years 2019 - 2023 | 14,200 | ||||||||||||||||||
Old National expects to contribute cash of $0.6 million to the pension plans in 2014. | |||||||||||||||||||
On September 15, 2012, Old National assumed Indiana Bank and Trust’s Pentegra Defined Benefit Plan for Financial Institutions. This defined benefit pension plan has been frozen since April 1, 2008. The trustees of the Financial Institutions Retirement Fund administer the Pentegra Plan, employer identification number 13-5645888 and plan number 333. The Pentegra Plan operates as a multi-employer plan for accounting purposes and as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. | |||||||||||||||||||
During the second quarter of 2013, Old National withdrew from the plan, contributing $14.0 million to satisfy the final termination liability. Funding the termination liability had no impact on earnings as it was considered in the fair value of Indiana Bank and Trust’s purchase accounting entries. | |||||||||||||||||||
EMPLOYEE STOCK OWNERSHIP PLAN | |||||||||||||||||||
The Employee Stock Ownership and Savings Plan (401k) (the “401(k) Plan”) permits employees to participate the first month following one month of service. Effective as of April 1, 2010, we suspended safe harbor matching contributions to the 401(k) Plan. However, we may make discretionary matching contributions to the 401(k) Plan. For 2013, 2012 and 2011, we matched 50% of employee compensation deferral contributions, up to six percent of compensation. In addition to matching contributions, Old National may contribute to the 401(k) Plan an amount designated as a profit sharing contribution in the form of Old National stock or cash. Our Board of Directors designated no discretionary profit sharing contributions in 2013, 2012 or 2011. All contributions vest immediately and plan participants may elect to redirect funds among any of the investment options provided under the 401(k) plan. During the years ended December 31, 2013, 2012 and 2011, the number of Old National shares allocated to the 401(k) plan were 1.3 million, 1.4 million and 1.6 million, respectively. All shares owned through the (401(k) plan are included in the calculation of weighted-average shares outstanding for purposes of calculating diluted and basic earnings per share. Contribution expense under the 401(k) plan was $3.8 million in 2013, $3.4 million in 2012 and $3.2 million in 2011. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
NOTE 15 – STOCK-BASED COMPENSATION | |||||||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||||||
Our Amended and Restated 2008 Incentive Compensation Plan (the “ICP”), which was shareholder-approved, permits the grant of share-based awards to its employees. At December 31, 2013, 5.0 million shares were available for issuance. Since 2010, the granting of awards to key employees is typically in the form of restricted stock. We believe that such awards better align the interests of our employees with those of our shareholders. Total compensation cost that has been charged against income for the ICPs was $4.0 million, $3.3 million, and $3.4 million for 2013, 2012, and 2011, respectively. The total income tax benefit was $1.6 million, $1.3 million, and $1.4 million, respectively. | |||||||||||||||||
Restricted Stock Awards | |||||||||||||||||
Restricted stock awards require certain service-based or performance requirements and commonly have vesting periods of 3 years. Compensation expense is recognized over the vesting period of the award based on the fair value of the stock at the date of issue adjusted for various performance conditions. | |||||||||||||||||
A summary of changes in our nonvested shares for the year follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant-Date | ||||||||||||||||
(shares in thousands) | Outstanding | Fair Value | |||||||||||||||
Nonvested balance at January 1, 2013 | 189 | $ | 11.79 | ||||||||||||||
Granted during the year | 84 | 13.04 | |||||||||||||||
Vested during the year | (99 | ) | 11.76 | ||||||||||||||
Forfeited during the year | (2 | ) | 10.61 | ||||||||||||||
Nonvested balance at December 31, 2013 | 172 | $ | 12.44 | ||||||||||||||
As of December 31, 2013, there was $1.1 million of total unrecognized compensation cost related to nonvested shares granted under the ICP. The cost is expected to be recognized over a weighted-average period of 1.79 years. The total fair value of the shares vested during the years ended December 31, 2013, 2012 and 2011 was $1.4 million, $1.9 million and $1.0 million, respectively. Included in 2012 is the reversal of $0.4 million of expense associated with certain performance based restricted stock grants. | |||||||||||||||||
During the third quarter of 2011, we modified the vesting eligibility of 10,000 shares of restricted stock issued to an employee. As a result of the modification, we reversed $0.1 million of expense for the year ended December 31, 2011. There were no restricted stock modifications during 2013 or 2012. | |||||||||||||||||
In connection with the acquisition of IBT on September 15, 2012, 15,000 unvested IBT restricted stock awards were converted to 29,000 unvested Old National restricted stock awards. These restricted stock awards vested December 31, 2012 upon the retirement of the participant with the remaining expense of $23,000 accelerated into the fourth quarter. | |||||||||||||||||
Restricted Stock Units | |||||||||||||||||
Restricted stock units require certain performance requirements and have vesting periods of 3 years. Compensation expense is recognized over the vesting period of the award based on the fair value of the stock at the date of issue adjusted for various performance conditions. | |||||||||||||||||
A summary of changes in our nonvested shares for the year follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant-Date | ||||||||||||||||
(shares in thousands) | Outstanding | Fair Value | |||||||||||||||
Nonvested balance at January 1, 2013 | 536 | $ | 12.24 | ||||||||||||||
Granted during the year | 295 | 11.84 | |||||||||||||||
Vested during the year | (110 | ) | 12.33 | ||||||||||||||
Forfeited during the year | (32 | ) | 15.11 | ||||||||||||||
Reinvested dividend equivalents | 22 | 11.26 | |||||||||||||||
Nonvested balance at December 31, 2013 | 711 | $ | 11.87 | ||||||||||||||
As of December 31, 2013, 2012 and 2011, there was $3.2 million, $2.9 million and $2.4 million, respectively, of total unrecognized compensation cost related to nonvested shares granted under the ICP. The cost is expected to be recognized over a weighted-average period of 1.7 years. Included in 2013 is a net decrease to expense of $0.2 million related to our future vesting expectations of certain performance based restricted stock grants. Included in 2012 is a net increase to expense of $0.2 million related to our future vesting expectations of certain performance based restricted stock grants. | |||||||||||||||||
Stock Options | |||||||||||||||||
Option awards are generally granted with an exercise price equal to the market price of our common stock at the date of grant; these option awards have vesting periods ranging from 3 to 5 years and have 10-year contractual terms. | |||||||||||||||||
Old National has not granted stock options since 2009. However, in connection with the acquisition of IBT on September 15, 2012, 0.2 million options for shares of IBT stock were converted to 0.3 million options for shares of Old National stock. Old National recorded no incremental expense associated with the conversion of these options. In connection with the acquisition of Monroe Bancorp on January 1, 2011, 0.3 million options for shares of Monroe Bancorp stock were converted to 0.3 million options for shares of Old National stock. Old National recorded no incremental expense associated with the conversion of these options. | |||||||||||||||||
A summary of the activity in the stock option plan for 2013 follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted | Average | Aggregate | |||||||||||||||
Average | Remaining | Intrinsic | |||||||||||||||
Exercise | Contractual | Value | |||||||||||||||
(shares in thousands) | Shares | Price | Term in Years | (in thousands) | |||||||||||||
Outstanding, January 1 | 3,371 | $ | 18.91 | ||||||||||||||
Granted | — | — | |||||||||||||||
Acquired | — | — | |||||||||||||||
Exercised | (99 | ) | 11.68 | ||||||||||||||
Forfeited/expired | (1,928 | ) | 20.64 | ||||||||||||||
Outstanding, December 31 | 1,344 | $ | 16.96 | 2.66 | $ | 845.6 | |||||||||||
Options exercisable at end of year | 1,344 | $ | 16.96 | 2.66 | $ | 845.6 | |||||||||||
Information related to the stock option plan during each year follows: | |||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||
Intrinsic value of options exercised | $ | 282 | $ | 256 | $ | 175 | |||||||||||
Cash received from option exercises | 1,159 | 716 | 140 | ||||||||||||||
Tax benefit realized from option exercises | 45 | 72 | — | ||||||||||||||
As of December 31, 2013, all options were fully vested and all compensation costs had been expensed. |
Outside_Director_Stock_Compens
Outside Director Stock Compensation Program | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Outside Director Stock Compensation Program | ' |
NOTE 16—OUTSIDE DIRECTOR STOCK COMPENSATION PROGRAM | |
Old National maintains a director stock compensation program covering all outside directors. Compensation shares are earned semi-annually. A maximum of 165,375 shares of common stock is available for issuance under this program. As of December 31, 2013, Old National had issued 95,597 shares under this program. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Shareholders' Equity | ' |
NOTE 17—SHAREHOLDERS’ EQUITY | |
DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN | |
Old National has a dividend reinvestment and stock purchase plan under which common shares issued may be either repurchased shares or authorized and previously unissued shares. A new plan became effective on August 16, 2012, with total authorized and unissued common shares reserved for issuance of 3.3 million. In 2013, 2012 and 2011, no shares were issued related to these plans. As of December 31, 2013, 3.3 million authorized and unissued common shares were reserved for issuance under these plans. | |
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 can not exceed ten percent of the employee’s compensation. The maximum number of shares that may be purchased under this plan is 500,000 shares. In 2013, 22,000 shares were issued related to this plan with proceeds of approximately $290,000. In 2012, 21,000 shares were issued related to this plan with proceeds of approximately $254,000. |
Fair_Value
Fair Value | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
NOTE 18—FAIR VALUE | |||||||||||||||||
FASB ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: | |||||||||||||||||
• | Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | ||||||||||||||||
• | Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||
• | Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | ||||||||||||||||
Old National used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: | |||||||||||||||||
Investment securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Discounted cash flows are calculated using swap and LIBOR curves plus spreads that adjust for loss severities, volatility, credit risk and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations. | |||||||||||||||||
Residential loans held for sale: The fair value of loans held for sale is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan (Level 2). | |||||||||||||||||
Derivative financial instruments: The fair values of derivative financial instruments are based on derivative valuation models using market data inputs as of the valuation date (Level 2). | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which we have elected the fair value option, are summarized below: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Assets | |||||||||||||||||
Trading securities | $ | 3,566 | $ | 3,566 | $ | — | $ | — | |||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury | 13,113 | 13,113 | — | — | |||||||||||||
U.S. Government-sponsored entities and agencies | 435,588 | — | 435,588 | — | |||||||||||||
Mortgage-backed securities—Agency | 1,289,258 | — | 1,289,258 | — | |||||||||||||
Mortgage-backed securities—Non-agency | 17,412 | — | 17,412 | — | |||||||||||||
States and political subdivisions | 268,795 | — | 268,126 | 669 | |||||||||||||
Pooled trust preferred securities | 8,037 | — | — | 8,037 | |||||||||||||
Other securities | 339,988 | 31,254 | 308,734 | — | |||||||||||||
Residential loans held for sale | 7,705 | — | 7,705 | — | |||||||||||||
Derivative assets | 22,087 | — | 22,087 | — | |||||||||||||
Financial Liabilities | |||||||||||||||||
Derivative liabilities | 19,723 | — | 19,723 | — | |||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Assets | |||||||||||||||||
Trading securities | $ | 3,097 | $ | 3,097 | $ | — | $ | — | |||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury | 11,841 | 11,841 | — | — | |||||||||||||
U.S. Government-sponsored entities and agencies | 517,325 | — | 517,325 | — | |||||||||||||
Mortgage-backed securities—Agency | 1,163,788 | — | 1,163,788 | — | |||||||||||||
Mortgage-backed securities—Non-agency | 30,196 | — | 30,196 | — | |||||||||||||
States and political subdivisions | 577,324 | — | 576,340 | 984 | |||||||||||||
Pooled trust preferred securities | 9,359 | — | — | 9,359 | |||||||||||||
Other securities | 190,951 | 32,762 | 158,189 | — | |||||||||||||
Residential loans held for sale | 12,591 | — | 12,591 | — | |||||||||||||
Derivative assets | 36,512 | — | 36,512 | — | |||||||||||||
Financial Liabilities | |||||||||||||||||
Derivative liabilities | 30,010 | — | 30,010 | — | |||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2013: | |||||||||||||||||
Fair Value Measurements using | |||||||||||||||||
Significant Unobservable Inputs | |||||||||||||||||
(Level 3) | |||||||||||||||||
Pooled Trust Preferred | State and | ||||||||||||||||
Securities Available- | Political | ||||||||||||||||
(dollars in thousands) | for-Sale | Subdivisions | |||||||||||||||
Beginning balance, January 1, 2013 | $ | 9,359 | $ | 984 | |||||||||||||
Accretion/(amortization) of discount or premium | 17 | 5 | |||||||||||||||
Sales/payments received | (2,929 | ) | — | ||||||||||||||
Matured securities | — | (320 | ) | ||||||||||||||
Credit loss write-downs | (1,000 | ) | — | ||||||||||||||
Increase/(decrease) in fair value of securities | 2,590 | — | |||||||||||||||
Ending balance, December 31, 2013 | $ | 8,037 | $ | 669 | |||||||||||||
Included in the income statement is $22,000 of income included in interest income from the accretion of discounts on securities and $1.0 million of credit losses included in noninterest income. The increase in fair value is reflected in the balance sheet as an increase in the fair value of investment securities available-for sale, an increase in accumulated other comprehensive income, which is included in shareholders’ equity, and a decrease in other assets related to the tax impact. | |||||||||||||||||
$32.8 million of mutual fund securities were transferred to Level 1 as of December 31, 2012 because Old National could obtain quoted prices for the securities. | |||||||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2012: | |||||||||||||||||
Fair Value Measurements using | |||||||||||||||||
Significant Unobservable Inputs | |||||||||||||||||
(Level 3) | |||||||||||||||||
Pooled Trust Preferred | State and | ||||||||||||||||
Securities Available- | Political | ||||||||||||||||
(dollars in thousands) | for-Sale | Subdivisions | |||||||||||||||
Beginning balance, January 1, 2012 | $ | 7,327 | $ | 1,306 | |||||||||||||
Accretion/(amortization) of discount or premium | 17 | 7 | |||||||||||||||
Payments received | (87 | ) | — | ||||||||||||||
Matured securities | — | (329 | ) | ||||||||||||||
Increase/(decrease) in fair value of securities | (476 | ) | — | ||||||||||||||
Transfer in at December 31 | 2,578 | — | |||||||||||||||
Ending balance, December 31, 2012 | $ | 9,359 | $ | 984 | |||||||||||||
Included in the income statement is $24,000 of income included in interest income from the accretion of discounts on securities and $476,000 of credit losses included in noninterest income. The increase in fair value is reflected in the balance sheet as an increase in the fair value of investment securities available-for sale, an increase in accumulated other comprehensive income, which is included in shareholders’ equity, and a decrease in other assets related to the tax impact. | |||||||||||||||||
$1.3 million of state and political subdivision securities were transferred to Level 3 as of December 31, 2011 because Old National could no longer obtain evidence of observable inputs. | |||||||||||||||||
The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy: | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Fair Value at | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(dollars in thousands) | Dec. 31, 2013 | Techniques | Input | Average) | |||||||||||||
Pooled trust preferred securities | $ | 8,037 | Discounted cash flow | Constant prepayment rate (a) | 0.00% | ||||||||||||
Additional asset defaults (b) | 1.9% – 9.6% (4.5%) | ||||||||||||||||
Expected asset recoveries (c) | 1.7% – 9.6% (3.2%) | ||||||||||||||||
State and political subdivision securities | 669 | Discounted cash flow | No unobservable inputs | NA | |||||||||||||
Illiquid local municipality issuance | |||||||||||||||||
Old National owns 100% | |||||||||||||||||
Carried at par | |||||||||||||||||
(a) | Assuming no prepayments. | ||||||||||||||||
(b) | Each currently performing pool asset is assigned a default probability based on the banking environment, which is adjusted for specific issuer evaluation, of 0%, 50% or 100%. | ||||||||||||||||
(c) | Each currently defaulted pool asset is assigned a recovery probability based on specific issuer evaluation of 0%, 25% or 100%. | ||||||||||||||||
The significant unobservable inputs used in the fair value measurement for pooled trust preferred securities are prepayment rates, assumed additional pool asset defaults and expected return to performing status of defaulted pool assets. Significant changes in any of the inputs in isolation would result in a significant change to the fair value measurement. Three of the four pooled trust preferred securities Old National owns are subordinate note classes that rely on an ongoing cash flow stream to support their values. The senior note classes receive the benefit of prepayments to the detriment of subordinate note classes since the ongoing interest cash flow stream is reduced by the early redemption. Generally, a change in prepayment rates or additional pool asset defaults has an impact that is directionally opposite from a change in the expected recovery of a defaulted pool asset. | |||||||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 9,224 | — | — | $ | 9,224 | |||||||||||
Commercial real estate loans | 7,851 | — | — | 7,851 | |||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 9,069 | — | — | 9,069 | |||||||||||||
Residential | 283 | — | — | 283 | |||||||||||||
Impaired commercial and commercial real estate loans that are deemed collateral dependent are valued based on the fair value of the underlying collateral. These estimates are based on the most recently available appraisals with certain adjustments made based on the type of property, age of appraisal, current status of the property and other related factors to estimate the current value of the collateral. These impaired commercial and commercial real estate loans had a principal amount of $25.4 million, with a valuation allowance of $8.3 million at December 31, 2013. Old National recorded $6.9 million of provision expense associated with these loans in 2013. | |||||||||||||||||
Other real estate owned and other repossessed property is measured at fair value less costs to sell and had a net carrying amount of $9.4 million. The estimates of fair value are based on the most recently available appraisals with certain adjustments made based on the type of property, age of appraisal, current status of the property and other related factors to estimate the current value of the collateral. There were write-downs of other real estate owned of $2.4 million in 2013. | |||||||||||||||||
During the second quarter of 2013, finance leases of $11.6 million were transferred from the commercial loan category at fair value, which was the offer price, and a loss of $0.2 million was recognized. The finance leases were sold during the third quarter of 2013. | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 14,159 | — | — | $ | 14,159 | |||||||||||
Commercial real estate loans | 13,111 | — | — | 13,111 | |||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 24,032 | — | — | 24,032 | |||||||||||||
Residential | 471 | — | — | 471 | |||||||||||||
As of December 31, 2012, impaired commercial and commercial real estate loans had a principal amount of $34.1 million, with a valuation allowance of $6.8 million. Old National recorded $4.0 million of provision expense associated with these loans in 2012. | |||||||||||||||||
Other real estate owned and other repossessed property is measured at fair value less costs to sell and had a net carrying amount of $24.5 million at December 31, 2012. There were write-downs of other real estate owned of $15.3 million in 2012. | |||||||||||||||||
The tables below provide quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy: | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Fair Value at | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(dollars in thousands) | Dec. 31, 2013 | Techniques | Input | Average) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 9,224 | Fair value of | Discount for type of property, | 0% – 75% (24%) | ||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Commercial real estate loans | 7,851 | Fair value of | Discount for type of property, | 10% – 54% (30%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 9,069 | Fair value of | Discount for type of property, | 10% – 40% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Residential | 283 | Fair value of | Discount for type of property, | 10% – 45% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Fair Value at | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(dollars in thousands) | Dec. 31, 2012 | Techniques | Input | Average) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 14,159 | Fair value of | Discount for type of property, | 0% – 50% (25%) | ||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Commercial real estate loans | 13,111 | Fair value of | Discount for type of property, | 10% – 40% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 24,032 | Fair value of | Discount for type of property, | 10% – 40% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Residential | 471 | Fair value of | Discount for type of property, | 10% – 45% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Collateral dependent loans, other real estate owned and other repossessed property are valued based on the most recently available appraisals with certain adjustments made based on the type of property, age of appraisal, current status of the property and other related factors to estimate the current value of the collateral. These appraisals are discounted depending on the type of property and the type of appraisal (market value vs. liquidation value). | |||||||||||||||||
Financial instruments recorded using fair value option | |||||||||||||||||
Under FASB ASC 825-10, we may elect to report most financial instruments and certain other items at fair value on an instrument-by-instrument basis with changes in fair value reported in net income. After the initial adoption, the election is made at the acquisition of an eligible financial asset, financial liability or firm commitment or when certain specified reconsideration events occur. The fair value election may not be revoked once an election is made. | |||||||||||||||||
We have elected the fair value option for residential mortgage loans held for sale. For these loans, interest income is recorded in the consolidated statements of income based on the contractual amount of interest income earned on the financial assets (except any that are on nonaccrual status). None of these loans are 90 days or more past due, nor are any on nonaccrual status. Included in the income statement is $365 thousand of interest income for residential loans held for sale for the year ended December 31, 2013. Included in the income statement is $193 thousand of interest income for residential loans held for sale for the year ended December 31, 2012. | |||||||||||||||||
Residential mortgage loans held for sale | |||||||||||||||||
Old National has elected the fair value option for newly originated conforming fixed-rate and adjustable-rate first mortgage loans held for sale. These loans are intended for sale and are hedged with derivative instruments. Old National has elected the fair value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplification. The fair value option was not elected for loans held for investment. | |||||||||||||||||
As of December 31, 2013, the difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected is as follows. Accrued interest at period end is included in the fair value of the instruments. | |||||||||||||||||
Aggregate | Contractual | ||||||||||||||||
(dollars in thousands) | Fair Value | Difference | Principal | ||||||||||||||
Residential loans held for sale | $ | 7,705 | $ | 128 | $ | 7,577 | |||||||||||
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value for the twelve months ended December 31, 2013: | |||||||||||||||||
Changes in Fair Value for the Twelve Months ended December 31, 2013, for Items | |||||||||||||||||
Measured at Fair Value Pursuant to Election of the Fair Value Option | |||||||||||||||||
Total Changes | |||||||||||||||||
in Fair Values | |||||||||||||||||
Other | Included in | ||||||||||||||||
Gains and | Interest | Interest | Current Period | ||||||||||||||
(dollars in thousands) | (Losses) | Income | (Expense) | Earnings | |||||||||||||
Residential loans held for sale | $ | (224 | ) | $ | — | $ | (2 | ) | $ | (226 | ) | ||||||
As of December 31, 2012, the difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows. Accrued interest at period end is included in the fair value of the instruments. | |||||||||||||||||
Aggregate | Contractual | ||||||||||||||||
(dollars in thousands) | Fair Value | Difference | Principal | ||||||||||||||
Residential loans held for sale | $ | 12,591 | $ | 354 | $ | 12,237 | |||||||||||
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value for the twelve months ended December 31, 2012: | |||||||||||||||||
Changes in Fair Value for the Twelve Months ended December 31, 2012, for Items | |||||||||||||||||
Measured at Fair Value Pursuant to Election of the Fair Value Option | |||||||||||||||||
Total Changes | |||||||||||||||||
in Fair Values | |||||||||||||||||
Other | Included in | ||||||||||||||||
Gains and | Interest | Interest | Current Period | ||||||||||||||
(dollars in thousands) | (Losses) | Income | (Expense) | Earnings | |||||||||||||
Residential loans held for sale | $ | 253 | $ | 2 | $ | — | $ | 255 | |||||||||
The carrying amounts and estimated fair values of financial instruments, not previously presented in this note, at December 31, 2013 and 2012, respectively, are as follows: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
December 31, 2013 | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash, due from banks, federal funds sold and money market investments | $ | 206,723 | $ | 206,723 | $ | — | $ | — | |||||||||
Investment securities held-to-maturity: | |||||||||||||||||
U.S. Government-sponsored entities and agencies | 170,621 | — | 178,370 | — | |||||||||||||
Mortgage-backed securities—Agency | 35,443 | — | 36,349 | — | |||||||||||||
State and political subdivisions | 556,607 | — | 566,039 | — | |||||||||||||
Federal Home Loan Bank stock | 40,584 | — | 40,584 | — | |||||||||||||
Loans, net (including covered loans): | |||||||||||||||||
Commercial | 1,386,185 | — | — | 1,414,184 | |||||||||||||
Commercial real estate | 1,220,417 | — | — | 1,273,070 | |||||||||||||
Residential real estate | 1,384,183 | — | — | 1,475,710 | |||||||||||||
Consumer credit | 1,045,034 | — | — | 1,058,021 | |||||||||||||
FDIC indemnification asset | 88,513 | — | — | 55,368 | |||||||||||||
Accrued interest receivable | 50,205 | 42 | 20,708 | 29,455 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits: | |||||||||||||||||
Noninterest-bearing demand deposits | $ | 2,026,490 | $ | 2,026,490 | $ | — | $ | — | |||||||||
NOW, savings and money market deposits | 4,166,438 | 4,166,438 | — | — | |||||||||||||
Time deposits | 1,017,975 | — | 1,028,043 | — | |||||||||||||
Short-term borrowings: | |||||||||||||||||
Federal funds purchased | 115,103 | 115,103 | — | — | |||||||||||||
Repurchase agreements | 347,229 | 347,226 | — | — | |||||||||||||
Other borrowings: | |||||||||||||||||
Junior subordinated debenture | 28,000 | — | 17,605 | — | |||||||||||||
Repurchase agreements | 50,000 | — | 52,633 | — | |||||||||||||
Federal Home Loan Bank advances | 447,856 | — | — | 485,759 | |||||||||||||
Capital lease obligation | 4,157 | — | 5,245 | — | |||||||||||||
Accrued interest payable | 1,877 | — | 1,877 | — | |||||||||||||
Standby letters of credit | 380 | — | — | 380 | |||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | — | $ | — | $ | — | $ | 1,648 | |||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||
(dollars in thousands) | Carrying | Quoted Prices in | Significant | Significant | |||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||
(Level 2) | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash, due from banks, federal funds sold and money market investments | $ | 264,060 | $ | 264,060 | $ | — | $ | — | |||||||||
Investment securities held-to-maturity: | |||||||||||||||||
U.S. Government-sponsored entities and agencies | 173,936 | — | 188,263 | — | |||||||||||||
Mortgage-backed securities—Agency | 56,612 | — | 58,919 | — | |||||||||||||
State and political subdivisions | 169,282 | — | 183,021 | — | |||||||||||||
Other securities | 2,998 | — | 2,998 | — | |||||||||||||
Federal Home Loan Bank stock | 37,927 | — | 37,927 | — | |||||||||||||
Loans, net (including covered loans): | |||||||||||||||||
Commercial | 1,377,817 | — | — | 1,424,103 | |||||||||||||
Commercial real estate | 1,407,420 | — | — | 1,475,066 | |||||||||||||
Residential real estate | 1,356,922 | — | — | 1,458,672 | |||||||||||||
Consumer credit | 999,672 | — | — | 1,030,990 | |||||||||||||
FDIC indemnification asset | 116,624 | — | — | 106,976 | |||||||||||||
Accrued interest receivable | 46,979 | 43 | 20,701 | 26,235 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits: | |||||||||||||||||
Noninterest-bearing demand deposits | $ | 2,007,770 | $ | 2,007,770 | $ | — | $ | — | |||||||||
NOW, savings and money market deposits | 3,989,902 | 3,989,902 | — | — | |||||||||||||
Time deposits | 1,281,281 | — | 1,308,111 | — | |||||||||||||
Short-term borrowings: | |||||||||||||||||
Federal funds purchased | 231,688 | 231,688 | — | — | |||||||||||||
Repurchase agreements | 358,127 | 358,123 | — | — | |||||||||||||
Other borrowings: | |||||||||||||||||
Junior subordinated debenture | 28,000 | — | 16,255 | — | |||||||||||||
Repurchase agreements | 50,000 | — | 53,422 | — | |||||||||||||
Federal Home Loan Bank advances | 155,323 | — | — | 170,664 | |||||||||||||
Capital lease obligation | 4,211 | — | 5,657 | — | |||||||||||||
Accrued interest payable | 3,308 | — | 3,308 | — | |||||||||||||
Standby letters of credit | 357 | — | — | 357 | |||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | — | $ | — | $ | — | $ | 2,305 | |||||||||
The following methods and assumptions were used to estimate the fair value of each type of financial instrument. | |||||||||||||||||
Cash, due from banks, federal funds sold and resell agreements and money market investments: For these instruments, the carrying amounts approximate fair value (Level 1). | |||||||||||||||||
Investment securities: Fair values for investment securities held-to-maturity are based on quoted market prices, if available. For securities where quoted prices are not available, fair values are estimated based on market prices of similar securities (Level 2). | |||||||||||||||||
Federal Home Loan Bank Stock: Old National Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost and periodically evaluated for impairment based on ultimate recovery of par value. The carrying value of FHLB stock approximates fair value based on the redemption provisions of the FHLB (Level 2). | |||||||||||||||||
Loans: The fair value of loans is estimated by discounting future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities (Level 3). | |||||||||||||||||
Covered loans: Fair values for loans were based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and a discount rate reflecting current market rates for new originations of comparable loans adjusted for the risk inherent in the cash flow estimates. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques (Level 3). | |||||||||||||||||
FDIC indemnification asset: The loss sharing asset was measured separately from the related covered assets as it is not contractually embedded in the assets and is not transferable with the assets should we choose to dispose of the assets. Fair value was originally estimated using projected cash flows related to the loss sharing agreement based on the expected reimbursements for losses and the applicable loss sharing percentage and these projected cash flows are updated with the cash flow estimates on covered assets. These cash flows were discounted to reflect the uncertainty of the timing and receipt of the loss sharing reimbursement from the FDIC (Level 3). | |||||||||||||||||
Accrued interest receivable and payable: The carrying amount approximates fair value and is aligned with the underlying assets or liabilities (Level 1, Level 2 or Level 3). | |||||||||||||||||
Deposits: The fair value of noninterest-bearing demand deposits and savings, NOW and money market deposits is the amount payable as of the reporting date (Level 1). The fair value of fixed-maturity certificates of deposit is estimated using rates currently offered for deposits with similar remaining maturities (Level 2). | |||||||||||||||||
Short-term borrowings: Federal funds purchased and other short-term borrowings generally have an original term to maturity of 30 days or less and, therefore, their carrying amount is a reasonable estimate of fair value (Level 1). The fair value of securities sold under agreements to repurchase is determined using end of day market prices (Level 1). | |||||||||||||||||
Other borrowings: The fair value of medium-term notes, subordinated debt and senior bank notes is determined using market quotes (Level 2). The fair value of FHLB advances is determined using calculated prices for new FHLB advances with similar risk characteristics (Level 3). The fair value of other debt is determined using comparable security market prices or dealer quotes (Level 2). | |||||||||||||||||
Standby letters of credit: Fair values for standby letters of credit are based on fees currently charged to enter into similar agreements. The fair value for standby letters of credit was recorded in “Accrued expenses and other liabilities” on the consolidated balance sheet in accordance with FASB ASC 460-10 (FIN 45) (Level 3). | |||||||||||||||||
Off-balance sheet financial instruments: Fair values for off-balance sheet credit-related financial instruments are based on fees currently charged to enter into similar agreements. For further information regarding the amounts of these financial instruments, see Notes 20 and 21. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||
Derivative Financial Instruments | ' | ||||||||||||
NOTE 19 – DERIVATIVE FINANCIAL INSTRUMENTS | |||||||||||||
As part of our overall interest rate risk management, Old National uses derivative instruments, including interest rate swaps, caps and floors. The notional amount of these derivative instruments was $464.5 million and $41.0 million at December 31, 2013 and December 31, 2012, respectively. The December 31, 2013 balances consist of $39.5 million notional amount of receive-fixed interest rate swaps and $425.0 million notional amount of pay-fixed, receive variable interest rate swaps on certain of its FHLB advances. The December 31, 2012 balances consist of $41.0 million notional amount of receive-fixed interest rate swaps on certain of its FHLB advances. These hedges were entered into to manage interest rate risk. These derivative instruments are recognized on the balance sheet at their fair value and are not reported on a net basis. | |||||||||||||
In addition, commitments to fund certain mortgage loans (interest rate lock commitments) and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. At December 31, 2013, the notional amount of the interest rate lock commitments and forward commitments were $10.5 million and $17.2 million, respectively. At December 31, 2012, the notional amount of the interest rate lock commitments and forward commitments were $23.4 million and $32.0 million, respectively. It is our practice to enter into forward commitments for the future delivery of residential mortgage loans to third party investors when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitment to fund the loans. All derivative instruments are recognized on the balance sheet at their fair value. | |||||||||||||
Old National also enters into derivative instruments for the benefit of its customers. The notional amounts of these customer derivative instruments and the offsetting counterparty derivative instruments were $436.8 million and $436.8 million, respectively, at December 31, 2013. At December 31, 2012, the notional amounts of the customer derivative instruments and the offsetting counterparty derivative instruments were $456.1 million and $456.1 million, respectively. These derivative contracts do not qualify for hedge accounting. These instruments include interest rate swaps, caps and collars. Commonly, Old National will economically hedge significant exposures related to these derivative contracts entered into for the benefit of customers by entering into offsetting contracts with approved, reputable, independent counterparties with substantially matching terms. | |||||||||||||
Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. Old National’s exposure is limited to the replacement value of the contracts rather than the notional, principal or contract amounts. There are provisions in our agreements with the counterparties that allow for certain unsecured credit exposure up to an agreed threshold. Exposures in excess of the agreed thresholds are collateralized. In addition, we minimize credit risk through credit approvals, limits, and monitoring procedures. | |||||||||||||
The following tables summarize the fair value of derivative financial instruments utilized by Old National: | |||||||||||||
Asset Derivatives | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
(dollars in thousands) | Balance Sheet | Fair | Balance Sheet | Fair | |||||||||
Location | Value | Location | Value | ||||||||||
Derivatives designated as hedging instruments | |||||||||||||
Interest rate contracts | Other assets | $ | 3,545 | Other assets | $ | 6,458 | |||||||
Total derivatives designated as hedging instruments | $ | 3,545 | $ | 6,458 | |||||||||
Derivatives not designated as hedging instruments | |||||||||||||
Interest rate contracts | Other assets | $ | 18,279 | Other assets | $ | 29,475 | |||||||
Mortgage contracts | Other assets | 263 | Other assets | 579 | |||||||||
Total derivatives not designated as hedging instruments | $ | 18,542 | $ | 30,054 | |||||||||
Total derivatives | $ | 22,087 | $ | 36,512 | |||||||||
Liability Derivatives | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Balance | Balance | ||||||||||||
Sheet | Fair | Sheet | Fair | ||||||||||
(dollars in thousands) | Location | Value | Location | Value | |||||||||
Derivatives designated as hedging instruments | |||||||||||||
Interest rate contracts | Other liabilities | $ | 1,218 | Other liabilities | $ | — | |||||||
Total derivatives designated as hedging instruments | $ | 1,218 | $ | — | |||||||||
Derivatives not designated as hedging instruments | |||||||||||||
Interest rate contracts | Other liabilities | $ | 18,505 | Other liabilities | $ | 29,909 | |||||||
Mortgage contracts | Other liabilities | — | Other liabilities | 101 | |||||||||
Total derivatives not designated as hedging instruments | $ | 18,505 | $ | 30,010 | |||||||||
Total derivatives | $ | 19,723 | $ | 30,010 | |||||||||
The effect of derivative instruments on the Consolidated Statement of Income for the twelve months ended December 31, 2013 and 2012 are as follows: | |||||||||||||
Year ended | Year ended | ||||||||||||
(dollars in thousands) | December 31, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||
Derivatives in | Location of Gain or (Loss) | Amount of Gain or (Loss) | |||||||||||
Fair Value Hedging | Recognized in Income on | Recognized in Income on | |||||||||||
Relationships | Derivative | Derivative | |||||||||||
Interest rate contracts (1) | Interest income / (expense) | $ | 1,748 | $ | 2,114 | ||||||||
Interest rate contracts (2) | Other income / (expense) | (33 | ) | 677 | |||||||||
Total | $ | 1,715 | $ | 2,791 | |||||||||
Derivatives in | Location of Gain or (Loss) | Amount of Gain or (Loss) | |||||||||||
Cash Flow Hedging | Recognized in Income on | Recognized in Income on | |||||||||||
Relationships | Derivative | Derivative | |||||||||||
Interest rate contracts (1) | Interest income / (expense) | $ | — | $ | 241 | ||||||||
Total | $ | — | $ | 241 | |||||||||
Derivatives Not Designated as | Location of Gain or (Loss) | Amount of Gain or (Loss) | |||||||||||
Hedging Instruments | Recognized in Income on | Recognized in Income on | |||||||||||
Derivative | Derivative | ||||||||||||
Interest rate contracts (3) | Other income / (expense) | $ | 209 | $ | 143 | ||||||||
Mortgage contracts | Mortgage banking revenue | (215 | ) | 261 | |||||||||
Total | $ | (6 | ) | $ | 404 | ||||||||
-1 | Amounts represent the net interest payments as stated in the contractual agreements. | ||||||||||||
-2 | Amounts represent ineffectiveness on derivatives designated as fair value hedges. | ||||||||||||
-3 | Includes the valuation differences between the customer and offsetting counterparty swaps. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
NOTE 20—COMMITMENTS AND CONTINGENCIES | |||||
LITIGATION | |||||
In the normal course of business, Old National and its subsidiaries have been named, from time to time, as defendants in various legal actions. Certain of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. | |||||
Old National contests liability and/or the amount of damages as appropriate in each pending matter. In view of the inherent difficulty of predicting the outcome of such matters, particularly in cases where claimants seek substantial or indeterminate damages or where investigations and proceedings are in the early stages, Old National cannot predict with certainty the loss or range of loss, if any, related to such matters, how or if such matters will be resolved, when they will ultimately be resolved, or what the eventual settlement, or other relief, if any, might be. Subject to the foregoing, Old National believes, based on current knowledge and after consultation with counsel, that the outcome of such pending matters will not have a material adverse effect on the consolidated financial condition of Old National, although the outcome of such matters could be material to Old National’s operating results and cash flows for a particular future period, depending on, among other things, the level of Old National’s revenues or income for such period. Old National will accrue for a loss contingency if (1) it is probable that a future event will occur and confirm the loss and (2) the amount of the loss can be reasonably estimated. | |||||
In November 2002, several beneficiaries of certain trusts filed a complaint against Old National and Old National Trust Company in the United States District Court for the Western District of Kentucky relating to the administration of the trusts in 1997. This litigation was fully and finally settled in the first quarter of 2012. We had previously accrued $2 million in the third quarter of 2011 in anticipation of negotiating the final settlement and resolution of the matter. The matter was fully settled for the amount of the accrual. However, a portion of the settlement funds were put temporarily in escrow to account for uncertain contingencies. These funds, less contingencies (if any), were released to the beneficiaries in December 2012 pursuant to the terms of the settlement agreement. | |||||
In November 2010, Old National was named in a class action lawsuit in Vanderburgh Circuit Court challenging our checking account practices associated with the assessment of overdraft fees. The theory set forth by plaintiffs in this case is similar to other class action complaints filed against other financial institutions in recent years and settled for substantial amounts. On May 1, 2012, the plaintiff was granted permission to file a First Amended Complaint which named additional plaintiffs and amended certain claims. The plaintiffs seek damages and other relief, including restitution. On June 13, 2012, Old National filed a motion to dismiss the First Amended Complaint, which was subsequently denied by the Court. On September 7, 2012, the plaintiffs filed a motion for class certification, which was granted on March 20, 2013, and provides for a class of “All Old National Bank customers in the State of Indiana who had one or more consumer accounts and who, within the applicable statutes of limitation through August 15, 2010, incurred an overdraft fee as a result of Old National Bank’s practice of sequencing debit card and ATM transactions from highest to lowest.” Old National sought an interlocutory appeal on the issue of class certification on April 2, 2013, which was subsequently denied. Old National does not believe there is a cause of action under Indiana law to support the plaintiffs’ claims. Accordingly, on June 11, 2013, Old National moved for summary judgment. On September 16, 2013, a hearing was held on the summary judgment motion and on September 27, 2013, the Court ordered the parties to mediation and informed the parties that “Court will be denying the motion for summary judgment upon receiving the report of the mediator.” | |||||
The parties subsequently met on January 30, 2014 with the mediator and were unable to reach an agreement to resolve the dispute. The parties have agreed to meet again with the mediator at a mutually agreed upon date. The case is not currently set for trial. Old National believes it has meritorious defenses to the claims brought by the plaintiffs. At this phase of the litigation, it is not possible for management of Old National to determine the probability of a material adverse outcome or reasonably estimate the amount of any loss. | |||||
LEASES | |||||
Old National rents certain premises and equipment under operating leases, which expire at various dates. Many of these leases require the payment of property taxes, insurance premiums, maintenance and other costs. In some cases, rentals are subject to increase in relation to a cost-of-living index. 118 of Old National’s 169 total financial centers are subject to operating leases while 51 are owned. The leases have original terms ranging from less than one year to twenty-four years, and Old National has the right, at its option, to extend the term of certain leases for four additional successive terms of five years. We do not have any material sub-lease agreements. | |||||
Total rental expense was $29.1 million in 2013, $32.0 million in 2012 and $33.7 million in 2011. The following is a summary of future minimum lease commitments as of December 31, 2013: | |||||
(dollars in thousands) | |||||
2014 | $ | 31,365 | |||
2015 | 30,922 | ||||
2016 | 30,720 | ||||
2017 | 30,569 | ||||
2018 | 29,664 | ||||
Thereafter | 234,255 | ||||
Total | $ | 387,495 | |||
CREDIT-RELATED FINANCIAL INSTRUMENTS | |||||
In the normal course of business, Old National’s banking affiliates have entered into various agreements to extend credit, including loan commitments of $1.271 billion and standby letters of credit of $62.0 million at December 31, 2013. At December 31, 2013, approximately $1.205 billion of the loan commitments had fixed rates and $66 million had floating rates, with the fixed interest rates ranging from 0% to 21%. At December 31, 2012, loan commitments were $1.253 billion and standby letters of credit were $63.4 million. These commitments are not reflected in the consolidated financial statements. At December 31, 2013 and 2012, the balance of the allowance for credit losses on unfunded loan commitments was $2.7 million and $4.0 million, respectively. | |||||
At December 31, 2013 and 2012, Old National had credit extensions of $15.6 million and $13.3 million, respectively, with various unaffiliated banks related to letter of credit commitments issued on behalf of Old National’s clients. At December 31, 2013 and 2012, the unsecured portion was $3.2 million and $2.1 million respectively. |
Financial_Guarantees
Financial Guarantees | 12 Months Ended |
Dec. 31, 2013 | |
Guarantees [Abstract] | ' |
Financial Guarantees | ' |
NOTE 21 – FINANCIAL GUARANTEES | |
Old National holds instruments, in the normal course of business with clients, that are considered financial guarantees in accordance with FASB ASC 460-10 (FIN 45, Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others), which requires us to record the instruments at fair value. Standby letters of credit guarantees are issued in connection with agreements made by clients to counterparties. Standby letters of credit are contingent upon failure of the client to perform the terms of the underlying contract. Credit risk associated with standby letters of credit is essentially the same as that associated with extending loans to clients and is subject to normal credit policies. The term of these standby letters of credit is typically one year or less. At December 31, 2013, the notional amount of standby letters of credit was $62.0 million, which represents the maximum amount of future funding requirements, and the carrying value was $0.4 million. At December 31, 2012, the notional amount of standby letters of credit was $63.4 million, which represents the maximum amount of future funding requirements, and the carrying value was $0.4 million. | |
During the second quarter of 2007, Old National entered into a risk participation in an interest rate swap. The interest rate swap has a notional amount of $8.0 million at December 31, 2013. |
Regulatory_Restrictions
Regulatory Restrictions | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Restrictions | ' | ||||||||||||||||||||||||
NOTE 22—REGULATORY RESTRICTIONS | |||||||||||||||||||||||||
RESTRICTIONS ON CASH AND DUE FROM BANKS | |||||||||||||||||||||||||
Old National’s affiliate bank is required to maintain reserve balances on hand and with the Federal Reserve Bank which are interest bearing and unavailable for investment purposes. The reserve balances at December 31 were $50.3 million in 2013 and $47.5 million in 2012. In addition, Old National had $0.8 million and $1.1 million as of December 31, 2013 and 2012, respectively, in cash and due from banks which was held as collateral for collateralized swap positions. | |||||||||||||||||||||||||
RESTRICTIONS ON TRANSFERS FROM AFFILIATE BANK | |||||||||||||||||||||||||
Regulations limit the amount of dividends an affiliate bank can declare in any year without obtaining prior regulatory approval. Prior regulatory approval is required if dividends to be declared in any year would exceed net earnings of the current year plus retained net profits for the preceding two years. During the first quarter of 2009, Old National Bank received permission to pay a $40 million dividend. Old National used the cash obtained from the dividend to repurchase the $100 million of non-voting preferred shares from the U.S. Treasury. As a result of this special dividend, Old National Bank required approval of regulatory authority for the payment of dividends to Old National during 2010 and 2011. Prior regulatory approval to pay dividends was not required in 2012 or 2013 and is not currently required. | |||||||||||||||||||||||||
RESTRICTIONS ON THE PAYMENT OF DIVIDENDS | |||||||||||||||||||||||||
Old National has traditionally paid a quarterly dividend to common stockholders. The payment of dividends is subject to legal and regulatory restrictions. Any payment of dividends in the future will depend, in large part, on Old National’s earnings, capital requirements, financial condition and other factors considered relevant by our Board of Directors. | |||||||||||||||||||||||||
CAPITAL ADEQUACY | |||||||||||||||||||||||||
Old National and Old National Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can elicit certain mandatory actions by regulators that, if undertaken, could have a direct material effect on Old National’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Old National and Old National Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Quantitative measures established by regulation to ensure capital adequacy require Old National and Old National Bank to maintain minimum amounts and ratios as set forth in the following table. | |||||||||||||||||||||||||
At December 31, 2013, Old National and Old National Bank exceeded the regulatory minimums and Old National Bank met the regulatory definition of well-capitalized based on the most recent regulatory notification. To be categorized as well-capitalized, Old National Bank must maintain minimum total risk-based, Tier 1 risked-based and Tier 1 leverage ratios. | |||||||||||||||||||||||||
The following table summarizes capital ratios for Old National and Old National Bank as of December 31: | |||||||||||||||||||||||||
For Capital | For Well | ||||||||||||||||||||||||
Actual | Adequacy Purposes | Capitalized Purposes | |||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | $ | 871,076 | 15.19 | % | $ | 458,717 | 8 | % | $ | N/A | N/A | % | |||||||||||||
Old National Bank | 720,313 | 12.67 | 454,685 | 8 | 568,356 | 10 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | 821,281 | 14.32 | 229,358 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 670,518 | 11.8 | 227,342 | 4 | 341,014 | 6 | |||||||||||||||||||
Tier 1 capital to average assets | |||||||||||||||||||||||||
Old National Bancorp | 821,281 | 8.92 | 368,092 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 670,518 | 7.35 | 364,793 | 4 | 455,992 | 5 | |||||||||||||||||||
2012 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | $ | 823,594 | 14.69 | % | $ | 448,390 | 8 | % | $ | N/A | N/A | % | |||||||||||||
Old National Bank | 732,081 | 13.14 | 445,574 | 8 | 556,968 | 10 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | 764,224 | 13.63 | 224,195 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 672,710 | 12.08 | 222,787 | 4 | 334,181 | 6 | |||||||||||||||||||
Tier 1 capital to average assets | |||||||||||||||||||||||||
Old National Bancorp | 764,224 | 8.53 | 358,493 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 672,710 | 7.57 | 355,633 | 4 | 444,541 | 5 | |||||||||||||||||||
Parent_Company_Financial_State
Parent Company Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Parent Company Financial Statements | ' | ||||||||||||
NOTE 23—PARENT COMPANY FINANCIAL STATEMENTS | |||||||||||||
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) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Deposits in affiliate bank | $ | 75,637 | $ | 39,262 | |||||||||
Trading securities—at fair value | 3,566 | 3,097 | |||||||||||
Investment securities—available for sale | 2,025 | 1,826 | |||||||||||
Investment in affiliates: | |||||||||||||
Banking subsidiaries | 989,585 | 1,073,721 | |||||||||||
Non-banks | 42,706 | 43,067 | |||||||||||
Other assets | 103,423 | 85,540 | |||||||||||
Total assets | $ | 1,216,942 | $ | 1,246,513 | |||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Other liabilities | $ | 29,564 | $ | 27,287 | |||||||||
Other borrowings | 24,738 | 24,661 | |||||||||||
Shareholders’ equity | 1,162,640 | 1,194,565 | |||||||||||
Total liabilities and shareholders’ equity | $ | 1,216,942 | $ | 1,246,513 | |||||||||
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) | |||||||||||||
CONDENSED STATEMENTS OF INCOME | |||||||||||||
Years Ended December 31, | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends from affiliates | $ | 116,073 | $ | 53,042 | $ | 19,670 | |||||||
Net securities gains | 416 | 165 | 20 | ||||||||||
Other income | 1,864 | 1,710 | 1,372 | ||||||||||
Other income (loss) from affiliates | 138 | 153 | (1 | ) | |||||||||
Total income | 118,491 | 55,070 | 21,061 | ||||||||||
Expense | |||||||||||||
Interest on borrowings | 624 | 786 | 1,270 | ||||||||||
Other expenses | 11,228 | 14,270 | 9,572 | ||||||||||
Total expense | 11,852 | 15,056 | 10,842 | ||||||||||
Income before income taxes and equity in undistributed earnings of affiliates | 106,639 | 40,014 | 10,219 | ||||||||||
Income tax benefit | (4,044 | ) | (5,909 | ) | (3,819 | ) | |||||||
Income before equity in undistributed earnings of affiliates | 110,683 | 45,923 | 14,038 | ||||||||||
Equity in undistributed earnings of affiliates | (9,763 | ) | 45,752 | 58,422 | |||||||||
Net Income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) | |||||||||||||
CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||
Years Ended December 31, | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Cash Flows From Operating Activities | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Adjustments to reconcile net income to cash provided by operating activities: | |||||||||||||
Depreciation | 8 | 15 | 31 | ||||||||||
Net securities (gains) losses | (416 | ) | (134 | ) | (20 | ) | |||||||
Stock compensation expense | 3,958 | 3,317 | 3,436 | ||||||||||
(Increase) decrease in other assets | (17,972 | ) | 9,056 | (4,927 | ) | ||||||||
(Decrease) increase in other liabilities | 3,095 | (496 | ) | 3,628 | |||||||||
Equity in undistributed earnings of affiliates | 9,763 | (45,752 | ) | (58,422 | ) | ||||||||
Total adjustments | (1,564 | ) | (33,994 | ) | (56,274 | ) | |||||||
Net cash flows provided by operating activities | 99,356 | 57,681 | 16,186 | ||||||||||
Cash Flows From Investing Activities | |||||||||||||
Cash and cash equivalents of acquisitions | — | 1 | 447 | ||||||||||
Purchases of investment securities | (53 | ) | (147 | ) | — | ||||||||
Proceeds from sales of investment securities available-for-sale | — | — | 1,081 | ||||||||||
Net payments from (advances to) affiliates | — | — | 18,886 | ||||||||||
Purchases of premises and equipment | (60 | ) | (173 | ) | — | ||||||||
Net cash flows provided by (used in) investing activities | (113 | ) | (319 | ) | 20,414 | ||||||||
Cash Flows From Financing Activities | |||||||||||||
Payments related to retirement of debt | — | (16,000 | ) | — | |||||||||
Cash dividends paid on common stock | (40,278 | ) | (34,657 | ) | (26,513 | ) | |||||||
Common stock repurchased | (24,292 | ) | (3,990 | ) | (1,526 | ) | |||||||
Common stock reissued under stock option, restricted stock and stock purchase plans | 1,412 | 717 | 140 | ||||||||||
Common stock issued | 290 | 254 | 222 | ||||||||||
Net cash flows provided by (used in) financing activities | (62,868 | ) | (53,676 | ) | (27,677 | ) | |||||||
Net increase (decrease) in cash and cash equivalents | 36,375 | 3,686 | 8,923 | ||||||||||
Cash and cash equivalents at beginning of period | 39,262 | 35,576 | 26,653 | ||||||||||
Cash and cash equivalents at end of period | $ | 75,637 | $ | 39,262 | $ | 35,576 | |||||||
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||
NOTE 24—SEGMENT INFORMATION | |||||||||||||||||||||
Our business segments are defined as Banking, Insurance, Wealth Management, and Other and are described below: | |||||||||||||||||||||
Banking | |||||||||||||||||||||
The banking segment provides a wide range of financial products and services to consumers and businesses. Loan products include commercial, commercial real estate, mortgage and other consumer loans. Deposit products include checking, savings, and time deposit accounts. This segment also provides cash management, brokerage and investment services. Products and services are delivered to customers in the states of Indiana, Kentucky, Illinois and Michigan through our branch locations, ATMs, on-line banking services, 24-hour telephone banking, client care call center, and a mobile banking service. | |||||||||||||||||||||
Insurance | |||||||||||||||||||||
The insurance segment offers full-service insurance brokerage services including commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance. Our agencies offer products that are issued and underwritten by various insurance companies not affiliated with us. In addition, we have two affiliated third party claims management companies that do fee for service claims handling for self-insured clients. | |||||||||||||||||||||
Wealth Management | |||||||||||||||||||||
The wealth management segment includes private banking, trust services, and investment advisory services. A significant portion of this segment’s income is derived from fees, which are generally based on the market values of assets under management. This segment is focused on assisting high-net-worth individuals and families in building and preserving their wealth. | |||||||||||||||||||||
Other | |||||||||||||||||||||
Other Corporate Administrative units such as Human Resources or Finance, provide a wide-range of support to our other income earning segments. Expenses incurred by these support units are charged to the business segments through an internal cost allocation process, which may not be comparative to that of other companies. The other segment includes the unallocated portion of other corporate support functions, the elimination of intercompany transactions and our Corporate Treasury unit. Corporate Treasury activities consist of corporate asset and liability management. This unit’s assets and liabilities (and related interest income and expense) consist of investment securities, corporate-owned life insurance, and certain borrowings. | |||||||||||||||||||||
As of December 31, 2013, Old National changed the composition of its reportable segments to those described above and restated all periods presented. Selected business segment financial information as of and for the years ended December 31, 2013, 2012, and 2011 were as follows: | |||||||||||||||||||||
SEGMENT INFORMATION | |||||||||||||||||||||
Wealth | |||||||||||||||||||||
(dollars in thousands) | Banking | Insurance | Management | Other | Total | ||||||||||||||||
2013 | |||||||||||||||||||||
Net interest income | $ | 317,869 | $ | 15 | $ | 44 | $ | (504 | ) | $ | 317,424 | ||||||||||
Noninterest income | 119,795 | 38,657 | 24,158 | 2,148 | 184,758 | ||||||||||||||||
Noncash items: | |||||||||||||||||||||
Depreciation and software amortization | 12,060 | 142 | 22 | 299 | 12,523 | ||||||||||||||||
Provision for loan losses | (2,319 | ) | — | — | — | (2,319 | ) | ||||||||||||||
Amortization of intangibles | 5,759 | 1,673 | 730 | — | 8,162 | ||||||||||||||||
Income tax expense (benefit) | 43,114 | 1,052 | 1,375 | (3,944 | ) | 41,597 | |||||||||||||||
Segment profit | 102,097 | 1,925 | 2,168 | (5,270 | ) | 100,920 | |||||||||||||||
Segment assets | 9,431,228 | 65,328 | 15,121 | 70,067 | 9,581,744 | ||||||||||||||||
2012 | |||||||||||||||||||||
Net interest income | $ | 309,259 | $ | 21 | $ | 62 | $ | (585 | ) | $ | 308,757 | ||||||||||
Noninterest income | 129,202 | 36,732 | 22,208 | 1,674 | 189,816 | ||||||||||||||||
Noncash items: | |||||||||||||||||||||
Depreciation and software amortization | 11,837 | 271 | 32 | 964 | 13,104 | ||||||||||||||||
Provision for loan losses | 5,030 | — | — | — | 5,030 | ||||||||||||||||
Amortization of intangibles | 5,495 | 1,841 | 605 | — | 7,941 | ||||||||||||||||
Income tax expense (benefit) | 39,430 | 1,397 | 1,139 | (5,856 | ) | 36,110 | |||||||||||||||
Segment profit | 95,146 | 1,755 | 1,736 | (6,962 | ) | 91,675 | |||||||||||||||
Segment assets | 9,399,444 | 62,956 | 13,837 | 67,386 | 9,543,623 | ||||||||||||||||
2011 | |||||||||||||||||||||
Net interest income | $ | 274,063 | $ | 18 | $ | 77 | $ | (1,285 | ) | $ | 272,873 | ||||||||||
Noninterest income | 124,254 | 36,624 | 21,120 | 885 | 182,883 | ||||||||||||||||
Noncash items: | |||||||||||||||||||||
Depreciation and software amortization | 10,750 | 325 | 37 | 1,024 | 12,136 | ||||||||||||||||
Provision for loan losses | 7,473 | — | — | — | 7,473 | ||||||||||||||||
Amortization of intangibles | 6,570 | 1,785 | 474 | — | 8,829 | ||||||||||||||||
Income tax expense (benefit) | 30,222 | 1,208 | (253 | ) | (3,875 | ) | 27,302 | ||||||||||||||
Segment profit | 76,781 | 1,866 | (480 | ) | (5,707 | ) | 72,460 | ||||||||||||||
Segment assets | 8,472,196 | 62,321 | 14,910 | 60,256 | 8,609,683 | ||||||||||||||||
Net interest income and net profit in the Banking segment benefitted over the years from the acquisitions discussed in Note 2 to these financial statements. The level of net securities gains explains the majority of fluctuations in Non-interest income during these periods. |
Interim_Financial_Data_Unaudit
Interim Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Interim Financial Data (Unaudited) | ' | ||||||||||||||||||||||||||||||||
NOTE 25—INTERIM FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||||||||||||||
The following table details the quarterly results of operations for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
INTERIM FINANCIAL DATA | |||||||||||||||||||||||||||||||||
(unaudited, dollars | Quarters Ended 2013 | Quarters Ended 2012 | |||||||||||||||||||||||||||||||
and shares in thousands, | December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
except per share data) | 31 | 30 | 30 | 31 | 31 | 30 | 30 | 31 | |||||||||||||||||||||||||
Interest income | $ | 86,132 | $ | 83,894 | $ | 85,682 | $ | 86,102 | $ | 92,400 | $ | 82,772 | $ | 85,264 | $ | 84,263 | |||||||||||||||||
Interest expense | 4,945 | 5,898 | 6,491 | 7,052 | 8,039 | 8,622 | 9,291 | 9,990 | |||||||||||||||||||||||||
Net interest income | 81,187 | 77,996 | 79,191 | 79,050 | 84,361 | 74,150 | 75,973 | 74,273 | |||||||||||||||||||||||||
Provision for loan losses | 2,253 | (1,724 | ) | (3,693 | ) | 845 | 2,181 | 400 | 393 | 2,056 | |||||||||||||||||||||||
Noninterest income | 44,444 | 47,755 | 46,244 | 46,315 | 51,274 | 40,867 | 48,542 | 49,133 | |||||||||||||||||||||||||
Noninterest expense | 88,227 | 96,658 | 86,916 | 90,183 | 99,425 | 89,019 | 86,027 | 91,287 | |||||||||||||||||||||||||
Income before income taxes | 35,151 | 30,817 | 42,212 | 34,337 | 34,029 | 25,598 | 38,095 | 30,063 | |||||||||||||||||||||||||
Income tax expense | 10,602 | 6,869 | 13,734 | 10,392 | 11,020 | 5,861 | 10,889 | 8,340 | |||||||||||||||||||||||||
Net income | $ | 24,549 | $ | 23,948 | $ | 28,478 | $ | 23,945 | $ | 23,009 | $ | 19,737 | $ | 27,206 | $ | 21,723 | |||||||||||||||||
Net income per share : | |||||||||||||||||||||||||||||||||
Basic | $ | 0.24 | $ | 0.24 | $ | 0.28 | $ | 0.24 | $ | 0.23 | $ | 0.2 | $ | 0.29 | $ | 0.23 | |||||||||||||||||
Diluted | 0.25 | 0.23 | 0.28 | 0.24 | 0.23 | 0.2 | 0.29 | 0.23 | |||||||||||||||||||||||||
Average shares | |||||||||||||||||||||||||||||||||
Basic | 100,153 | 100,645 | 100,981 | 101,081 | 101,069 | 95,690 | 94,514 | 94,445 | |||||||||||||||||||||||||
Diluted | 100,718 | 101,131 | 101,352 | 101,547 | 101,550 | 96,125 | 94,871 | 94,833 | |||||||||||||||||||||||||
Quarterly results, most notably interest income, noninterest income and noninterest expense, were impacted by the acquisition of IBT on September 15, 2012 and 24 bank branches from Bank of America on July 12, 2013. |
Basis_of_Presentation_and_Sign1
Basis of Presentation and Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation | ' | ||||||||||||
BASIS OF PRESENTATION | |||||||||||||
The accompanying consolidated financial statements include the accounts of Old National Bancorp and its wholly-owned affiliates (hereinafter collectively referred to as “Old National”) and have been prepared in conformity with accounting principles generally accepted in the United States and prevailing practices within the banking industry. Such principles require management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The allowance for loan losses, valuation of purchased loans, FDIC indemnification asset, valuation and impairment of securities, goodwill and intangibles, derivative financial instruments, and income taxes are particularly subject to change. In the opinion of management, the consolidated financial statements contain all the normal and recurring adjustments necessary for a fair statement of the financial position of Old National as of December 31, 2013 and 2012, and the results of its operations and cash flows for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
All significant intercompany transactions and balances have been eliminated. A summary of the more significant accounting and reporting policies used in preparing the statements is presented below. | |||||||||||||
Trading Securities | ' | ||||||||||||
TRADING SECURITIES | |||||||||||||
Trading securities consist of investments in various mutual funds held in grantor trusts formed by Monroe Bancorp in connection with a deferred compensation plan. These mutual funds are recorded as trading securities at fair value. Gains and losses are included in net securities gains. | |||||||||||||
Investment Securities | ' | ||||||||||||
INVESTMENT SECURITIES | |||||||||||||
Old National classifies investment securities as available-for-sale or held-to-maturity on the date of purchase. Securities classified as available-for-sale are recorded at fair value with the unrealized gains and losses, net of tax effect, recorded in other comprehensive income. Realized gains and losses affect income and the prior fair value adjustments are reclassified within shareholders’ equity. Securities classified as held-to-maturity, which management has the intent and ability to hold to maturity, are reported at amortized cost. Premiums and discounts are amortized on the level-yield method. Anticipated prepayments are considered when amortizing premiums and discounts on mortgage backed securities. Gains and losses on the sale of available-for-sale securities are determined using the specific-identification method. | |||||||||||||
Other-Than-Temporary- Impairment – Management evaluates securities for other-than-temporary-impairment at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near term prospects of the issuer including an evaluation of credit ratings, (3) whether the market decline was affected by macroeconomic conditions, (4) the intent of Old National to sell a security, and (5) whether it is more likely than not Old National will have to sell the security before recovery of its cost basis. If Old National intends to sell an impaired security, Old National records an other-than-temporary loss in an amount equal to the entire difference between fair value and amortized cost. If a security is determined to be other-than-temporarily-impaired, but Old National does not intend to sell the security and it is not more likely than not that it will be required to sell the security, only the credit portion of the estimated loss is recognized in earnings, with the other portion of the loss recognized in other comprehensive income. See Note 4 to the consolidated financial statements for a detailed description of the quarterly evaluation process. | |||||||||||||
Federal Home Loan Bank (FHLB) Stock | ' | ||||||||||||
FEDERAL HOME LOAN BANK (FHLB) STOCK | |||||||||||||
Old National is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |||||||||||||
Residential Loans Held for Sale | ' | ||||||||||||
RESIDENTIAL LOANS HELD FOR SALE | |||||||||||||
Residential loans that Old National has committed to sell are classified as loans held for sale and are recorded in accordance with FASB ASC 825-10 (SFAS No. 159) at fair value, determined individually, as of the balance sheet date. The loans fair value includes the servicing value of the loans as well as any accrued interest. | |||||||||||||
Loans | ' | ||||||||||||
LOANS | |||||||||||||
Loans that Old National intends to hold for investment purposes are classified as portfolio loans. Portfolio loans are carried at the principal balance outstanding, net of earned interest, purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on the principal balances of loans outstanding. For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in the process of collection, or earlier when concern exists as to the ultimate collectibility of principal or interest. Interest accrued during the current year on such loans is reversed against earnings. Interest accrued in the prior year, if any, is charged to the allowance for loan losses. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, remain current for six months and future payments are reasonably assured. | |||||||||||||
Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan and lease losses. In determining the estimated fair value of purchased loans, management considers a number of factors including the remaining life of the acquired loans, estimated prepayments, estimated loss ratios, estimated value of the underlying collateral, net present value of cash flows expected to be received, among others. Purchased loans are accounted for in accordance with guidance for certain loans acquired in a transfer, when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the acquirer will not collect all contractually required principal and interest payments. The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference. Subsequent decreases to the expected cash flows will generally result in a provision for loan and lease losses. Subsequent increases in cash flows will result in a reversal of the provision for loan losses to the extent of prior charges and then an adjustment to accretable yield, which would have a positive impact on interest income. | |||||||||||||
Allowance for Loan Losses | ' | ||||||||||||
ALLOWANCE FOR LOAN LOSSES | |||||||||||||
The allowance for loan losses is maintained at a level believed adequate by management to absorb probable losses incurred in the loan portfolio. Management’s evaluation of the adequacy of the allowance is an estimate based on reviews of individual loans, pools of homogeneous loans, assessments of the impact of current economic conditions on the portfolio, and historical loss experience. The allowance is increased through a provision charged to operating expense. Loans deemed to be uncollectible are charged to the allowance. Recoveries of loans previously charged-off are added to the allowance. | |||||||||||||
For all loan classes, a loan is considered impaired when it is probable that contractual interest and principal payments will not be collected either for the amounts or by the dates as scheduled in the loan agreement. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Old National’s policy for recognizing income on impaired loans is to accrue interest unless a loan is placed on nonaccrual status. | |||||||||||||
Acquired loans accounted for under ASC Topic 310-30 accrue interest, even though they may be contractually past due, as any nonpayment of contractual principal or interest is considered in the periodic re-estimation of expected cash flows and is included in the resulting recognition of current period covered loan loss provision or prospective yield adjustments. | |||||||||||||
It is Old National’s policy to charge off small commercial loans scored through our small business credit center with contractual balances under $250,000 that have been placed on nonaccrual status or became ninety days or more delinquent, without regard to the collateral position. | |||||||||||||
For all portfolio segments, the general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by Old National over the most relevant three years. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. | |||||||||||||
Further information regarding Old National’s policies and methodology used to estimate the allowance for loan losses is presented in Note 6. | |||||||||||||
Premises and Equipment | ' | ||||||||||||
PREMISES AND EQUIPMENT | |||||||||||||
Premises and equipment are stated at cost less accumulated depreciation. Land is stated at cost. Depreciation is charged to operating expense over the useful lives of the assets, principally on the straight-line method. Useful lives for premises and equipment are as follows: buildings and building improvements – 15 to 39 years; and furniture and equipment – 3 to 10 years. Leasehold improvements are depreciated over the lesser of their useful lives or the term of the lease. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Interest costs on construction of qualifying assets are capitalized. | |||||||||||||
Premises and equipment are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are adjusted to fair value. Such impairments are included in other expense. | |||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||
The excess of the cost of acquired entities over the fair value of identifiable assets acquired less liabilities assumed is recorded as goodwill. In accordance with FASB ASC 350 (SFAS No. 142, Goodwill and Other Intangible Assets), amortization on goodwill and indefinite-lived assets is not recorded. However, the recoverability of goodwill and other intangible assets are annually tested for impairment. Other intangible assets, including core deposits and customer business relationships, are amortized primarily on an accelerated cash flow basis over their estimated useful lives, generally over a period of 7 to 25 years. | |||||||||||||
Company Owned Life Insurance | ' | ||||||||||||
COMPANY OWNED LIFE INSURANCE | |||||||||||||
Old National has purchased life insurance policies on certain key executives. Old National records company owned life insurance at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. The amount of company owned life insurance at December 31, 2013 and 2012 was $275.1 million and $270.6 million, respectively. | |||||||||||||
Derivative Financial Instruments | ' | ||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | |||||||||||||
As part of Old National’s overall interest rate risk management, Old National uses derivative instruments, including interest rate swaps, caps and floors. All derivative instruments are recognized on the balance sheet at their fair value in accordance with ASC 815, as amended. At the inception of the derivative contract, Old National will designate the derivative as (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). For derivatives that are designated and qualify as a fair value hedge, the change in value of the derivative, as well as the offsetting change in value of the hedged item attributable to the hedged risk, are recognized in current earnings during the period of the change in fair values. For derivatives that are designated and qualify as a cash flow hedge, the effective portion of the change in value on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. For all hedging relationships, changes in fair value of derivatives that are not effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings during the period of the change. Similarly, the changes in the fair value of derivatives that do not qualify for hedge accounting under ASC Topic 815 are also reported currently in earnings, in noninterest income. | |||||||||||||
The accrued net settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, consistent with the item being hedged. | |||||||||||||
Old National formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivative instruments that are designated as fair-value or cash-flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. Old National also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. Old National discontinues hedge accounting prospectively when it is determined that (1) the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item; (2) the derivative expires, is sold, or terminated; (3) the derivative instrument is de-designated as a hedge because the forecasted transaction is no longer probable of occurring; (4) a hedged firm commitment no longer meets the definition of a firm commitment; (5) or management otherwise determines that designation of the derivative as a hedging instrument is no longer appropriate. | |||||||||||||
When hedge accounting is discontinued, the future changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transaction is still expected to occur, changes in value that were accumulated in other comprehensive income are amortized or accreted into earnings over the same periods which the hedged transactions will affect earnings. | |||||||||||||
Old National enters into various stand-alone mortgage-banking derivatives in order to hedge the risk associated with the fluctuation of interest rates. Changes in fair value are recorded as mortgage banking revenue. Old National also enters into various stand-alone derivative contracts to provide derivative products to customers which are carried at fair value with changes in fair value recorded as other noninterest income. | |||||||||||||
Old National is exposed to losses if a counterparty fails to make its payments under a contract in which Old National is in the net receiving position. Old National anticipates that the counterparties will be able to fully satisfy their obligations under the agreements. In addition, Old National obtains collateral above certain thresholds of the fair value of its hedges for each counterparty based upon their credit standing. All of the contracts to which Old National is a party settle monthly, quarterly or semiannually. Further, Old National has netting agreements with the dealers with which it does business. | |||||||||||||
Credit-Related Financial Instruments | ' | ||||||||||||
CREDIT-RELATED FINANCIAL INSTRUMENTS | |||||||||||||
In the ordinary course of business, Old National’s affiliate bank has entered into credit-related financial instruments consisting of commitments to extend credit, commercial letters of credit and standby letters of credit. The notional amount of these commitments is not reflected in the consolidated financial statements until they are funded. | |||||||||||||
Foreclosed Assets | ' | ||||||||||||
FORECLOSED ASSETS | |||||||||||||
Other assets include real estate properties acquired as a result of foreclosure and repossessed personal property and are initially recorded at the fair value of the property less estimated cost to sell. Any excess recorded investment over the fair value of the property received is charged to the allowance for loan losses. Any subsequent write-downs are charged to expense, as are the costs of operating the properties. The amount of foreclosed assets at December 31, 2013 and 2012 was $21.2 million and $37.3 million, respectively. Included in foreclosed assets at December 31, 2013 and 2012 is approximately $13.7 million and $26.1 million, respectively, of covered other real estate owned from the Integra acquisition (see discussion below regarding covered assets). | |||||||||||||
Securities Purchased under Agreements to Resell and Securities Sold under Agreements to Repurchase | ' | ||||||||||||
SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | |||||||||||||
We purchase certain securities, generally U.S. government-sponsored entity and agency securities, under agreements to resell. The amounts advanced under these agreements represent short-term secured loans and are reflected as assets in the accompanying consolidated balance sheets. We also sell certain securities under agreements to repurchase. These agreements are treated as collateralized financing transactions. These secured borrowings are reflected as liabilities in the accompanying consolidated balance sheets and are recorded at the amount of cash received in connection with the transaction. Short-term securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements can be repledged by the secured party. Additional collateral may be required based on the fair value of the underlying securities. | |||||||||||||
Covered Assets, Loss Share Agreement and Indemnification Asset | ' | ||||||||||||
COVERED ASSETS, LOSS SHARE AGREEMENTS AND INDEMNIFICATION ASSET | |||||||||||||
On July 29, 2011, Old National acquired the banking operations of Integra in an FDIC assisted transaction. As part of the purchase and assumption agreement, Old National and the FDIC entered into loss sharing agreements (each, a “loss sharing agreement” and collectively, the “loss sharing agreements”), whereby the FDIC will cover a substantial portion of any future losses on loans (and related unfunded commitments), OREO and up to 90 days of certain accrued interest on loans. The acquired loans and OREO subject to the loss sharing agreements are referred to collectively as “covered assets.” Under the loss sharing agreements, the FDIC will reimburse Old National for 80% of expenses and valuation write-downs related to covered assets up to $275.0 million, losses in excess of $275.0 million up to $467.2 million at 0%, and 80% of losses in excess of $467.2 million. Old National will reimburse the FDIC for its share of recoveries with respect to losses for which the FDIC has previously reimbursed Old National under the loss sharing agreements. The loss sharing provisions of the agreements for commercial and single family residential mortgage loans are in effect for five and ten years, respectively, from the July 29, 2011 acquisition date and the loss recovery provisions for such loans are in effect for eight years and ten years, respectively, from the acquisition date. | |||||||||||||
Loans were recorded at fair value in accordance with ASC Topic 805, Business Combinations. No allowance for loan losses related to the acquired loans is recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820, exclusive of the loss share agreements with the FDIC. These loans were aggregated into pools of loans based on common risk characteristics such as credit score, loan type and date of origination. The fair value estimates associated with these pools of loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. | |||||||||||||
Because the FDIC will reimburse us for losses incurred on certain acquired loans, an indemnification asset (FDIC loss share receivable) is recorded at fair value at the acquisition date. The indemnification asset is recognized at the same time as the indemnified loans, and measured on the same basis, subject to collectibility or contractual limitations. The loss share agreements on the acquisition date reflect the reimbursements expected to be received from the FDIC, using an appropriate discount rate, which reflects counterparty credit risk and other uncertainties. The carrying value of the indemnification asset at December 31, 2013 and 2012 was $88.5 million and $116.6 million, respectively. In October 2012, the FASB issued ASU No. 2012-06, which provides guidance for when there is a change in the cash flows expected to be collected on an indemnification asset. This update is consistent with our current accounting treatment of changes in expected cash flows and the indemnification asset. | |||||||||||||
The loss share agreements continue to be measured on the same basis as the related indemnified loans. Because the acquired loans are subject to the accounting prescribed by ASC Topic 310, subsequent changes to the basis of the loss share agreements also follow that model. Deterioration in our expectation of credit quality of the loans or OREO would immediately increase the basis of the loss share agreements, with the offset recorded through the consolidated statement of income. Increases in the credit quality or cash flows of loans (reflected as an adjustment to yield and accreted into income over the remaining life of the loans) decrease the basis of the loss share agreements, with the decrease being amortized into income over the same period or the life of the loss share agreements, whichever is shorter. Loss assumptions used in the basis of the indemnified loans are consistent with the loss assumptions used to measure the indemnification asset. Initial fair value accounting incorporates into the fair value of the indemnification asset an element of the time value of money, which is accreted back into income over the life of the loss share agreements. | |||||||||||||
Net Income Per Share | ' | ||||||||||||
NET INCOME PER SHARE | |||||||||||||
Basic net income per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during each year. Diluted net income per share is computed as above and assumes the conversion of outstanding stock options and restricted stock. | |||||||||||||
The following table reconciles basic and diluted net income per share for the years ended December 31. | |||||||||||||
EARNINGS PER SHARE RECONCILIATION | |||||||||||||
(dollars and shares in thousands, | 2013 | 2012 | 2011 | ||||||||||
except per share data) | |||||||||||||
Basic Earnings Per Share | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Weighted average common shares outstanding | 100,712 | 96,440 | 94,467 | ||||||||||
Basic Earnings Per Share | $ | 1 | $ | 0.95 | $ | 0.76 | |||||||
Diluted Earnings Per Share | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Weighted average common shares outstanding | 100,712 | 96,440 | 94,467 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Restricted stock (1) | 455 | 379 | 285 | ||||||||||
Stock options (2) | 31 | 14 | 20 | ||||||||||
Weighted average shares outstanding | 101,198 | 96,833 | 94,772 | ||||||||||
Diluted Earnings Per Share | $ | 1 | $ | 0.95 | $ | 0.76 | |||||||
-1 | 0, 6 and 6 shares of restricted stock and restricted stock units were not included in the computation of net income per diluted share at December 31, 2013, 2012 and 2011, respectively, because the effect would be antidilutive. | ||||||||||||
-2 | Options to purchase 1,007 shares, 3,284 shares and 4,606 shares outstanding at December 31, 2013, 2012, and 2011, respectively, were not included in the computation of net income per diluted share because the exercise price of these options was greater than the average maket price of the common shares and, therefore, the effect would be antidilutive. | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||
Compensation cost is recognized for stock options and restricted stock awards and units issued to employees based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of our common stock at the date of grant is used for restricted stock awards. A third party provider is used to value certain restricted stock units where the performance measure is based on total shareholder return. Compensation expense is recognized over the requisite service period. | |||||||||||||
Income Taxes | ' | ||||||||||||
INCOME TAXES | |||||||||||||
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |||||||||||||
We recognize a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | |||||||||||||
We recognize interest and/or penalties related to income tax matters in income tax expense. | |||||||||||||
Loss Contingencies | ' | ||||||||||||
LOSS CONTINGENCIES | |||||||||||||
Loss contingencies, including claims and legal actions arising in the normal course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. See Note 20 to the consolidated financial statements for further disclosure. | |||||||||||||
Statement of Cash Flows Data | ' | ||||||||||||
STATEMENT OF CASH FLOWS DATA | |||||||||||||
For the purpose of presentation in the accompanying consolidated statement of cash flows, cash and cash equivalents are defined as cash, due from banks, federal funds sold and resell agreements, and money market investments, which have maturities less than 90 days. Cash paid during 2013, 2012 and 2011 for interest was $25.8 million, $38.4 million and $59.5 million, respectively. Cash paid for income tax, net of refunds, was a payment of $11.8 million during 2013, a payment of $24.2 million during 2012 and a payment of $4.6 million during 2011, respectively. Other noncash transactions include loans transferred to loans held for sale of $102.8 million in 2013, $1.7 million in 2012 and $5.4 million in 2011, leases transferred to held for sale of $11.6 million in 2013, transfers of securities from the available-for-sale portfolio to the held-to-maturity portfolio of $357.8 million in 2013 and transfers of securities from the held-to-maturity portfolio to the available-for-sale portfolio of $46.1 million in 2012. Approximately 6.6 million shares of common stock, valued at approximately $88.5 million, were issued in the acquisition of Indiana Community Bancorp on September 15, 2012. Approximately 7.6 million shares of common stock, valued at approximately $90.1 million, were issued in the acquisition of Monroe Bancorp on January 1, 2011. | |||||||||||||
Impact of Accounting Changes | ' | ||||||||||||
IMPACT OF ACCOUNTING CHANGES | |||||||||||||
FASB ASC 805 – In October 2012, the FASB issued an update (ASU No. 2012-06, Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution) impacting FASB ASC 805, Business Combinations. This update specifies that when an entity recognizes an indemnification asset as a result of a government-assisted acquisition of a financial institution and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs, the entity should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). This update became effective for interim and annual periods beginning on or after December 15, 2012, and is consistent with our accounting treatment of changes in expected cash flows and the indemnification asset and did not have a material impact on the consolidated financial statements. | |||||||||||||
FASB ASC 220 – In February 2013, the FASB issued an update (ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income) impacting FASB ASC 220, Comprehensive Income. This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about these amounts. This update became effective for Old National for interim and annual periods beginning after December 15, 2012 and did not have a material impact on the consolidated financial statements. | |||||||||||||
FASB ASC 405 – In February 2013, the FASB issued an update (ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date) impacting FASB ASC 405, Liabilities. This update requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date as the sum of (1) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. This update also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. This update becomes effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. | |||||||||||||
FASB ASC 405 – In July 2013, the FASB issued an update (ASU No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes) impacting FASB ASC 815, Derivatives and Hedging. This update permits the Fed Funds Effective Swap Rate (Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate. This will provide a more comprehensive spectrum of interest rate resets to utilize as the designated benchmark interest rate risk component under the hedge accounting guidance. The amendments in this update are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013 and did not have a material impact on the consolidated financial statements. | |||||||||||||
FASB ASC 323 – In January 2014, the FASB issued an update (ASU No. 2014-01, Accounting for Investments in Qualified Affordable Housing Projects) impacting FASB ASC 323, Investments – Equity Method and Joint Ventures. This update permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2014 and should be applied retrospectively. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. | |||||||||||||
FASB ASC 310 – In January 2014, the FASB issued an update (ASU No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure) impacting FASB ASC 310-40. The amendments in this update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the property in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments also require disclosure of (1) the amount of foreclosed residential real estate property held by the creditor (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. | |||||||||||||
Reclassifications | ' | ||||||||||||
RECLASSIFICATIONS | |||||||||||||
Certain prior year amounts have been reclassified to conform to the 2013 presentation. Such reclassifications had no effect on net income or shareholders’ equity and were insignificant amounts. |
Basis_of_Presentation_and_Sign2
Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Table Reconciling Basic and Diluted Net Income Per Share | ' | ||||||||||||
The following table reconciles basic and diluted net income per share for the years ended December 31. | |||||||||||||
EARNINGS PER SHARE RECONCILIATION | |||||||||||||
(dollars and shares in thousands, | 2013 | 2012 | 2011 | ||||||||||
except per share data) | |||||||||||||
Basic Earnings Per Share | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Weighted average common shares outstanding | 100,712 | 96,440 | 94,467 | ||||||||||
Basic Earnings Per Share | $ | 1 | $ | 0.95 | $ | 0.76 | |||||||
Diluted Earnings Per Share | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Weighted average common shares outstanding | 100,712 | 96,440 | 94,467 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Restricted stock (1) | 455 | 379 | 285 | ||||||||||
Stock options (2) | 31 | 14 | 20 | ||||||||||
Weighted average shares outstanding | 101,198 | 96,833 | 94,772 | ||||||||||
Diluted Earnings Per Share | $ | 1 | $ | 0.95 | $ | 0.76 | |||||||
-1 | 0, 6 and 6 shares of restricted stock and restricted stock units were not included in the computation of net income per diluted share at December 31, 2013, 2012 and 2011, respectively, because the effect would be antidilutive. | ||||||||||||
-2 | Options to purchase 1,007 shares, 3,284 shares and 4,606 shares outstanding at December 31, 2013, 2012, and 2011, respectively, were not included in the computation of net income per diluted share because the exercise price of these options was greater than the average maket price of the common shares and, therefore, the effect would be antidilutive. |
Acquisition_and_Divestiture_Ac1
Acquisition and Divestiture Activity (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Indiana Community Bancorp [Member] | ' | ||||||||
Schedule of Preliminary Purchase Price Allocation | ' | ||||||||
The purchase price for the IBT acquisition was allocated as follows (in thousands): | |||||||||
Cash and cash equivalents | $ | 78,540 | |||||||
Investment securities - available for sale | 147,710 | ||||||||
Federal Home Loan Bank stock, at cost | 7,092 | ||||||||
Loans | 497,434 | ||||||||
Premises and equipment | 13,345 | ||||||||
Accrued interest receivable | 2,165 | ||||||||
Other real estate owned | 6,111 | ||||||||
Company-owned life insurance | 15,833 | ||||||||
Other assets | 49,655 | ||||||||
Deposits | (784,589 | ) | |||||||
Other borrowings | (15,464 | ) | |||||||
Accrued expenses and other liabilities | (18,564 | ) | |||||||
Net tangible assets acquired | (732 | ) | |||||||
Definite-lived intangible assets acquired | 3,024 | ||||||||
Goodwill | 86,205 | ||||||||
Purchase price | $ | 88,497 | |||||||
Schedule of Components of Estimated Fair Value of Intangible Assets | ' | ||||||||
The components of the estimated fair value of the acquired identifiable intangible assets are in the table below. These intangible assets will be amortized on an accelerated basis over their estimated lives and are included in the “Banking” and “Other” segments, as described in Note 24 of these consolidated financial statement footnotes. | |||||||||
Estimated | Estimated | ||||||||
Fair Value | Useful Lives (Years) | ||||||||
(in millions) | |||||||||
Core deposit intangible | $ | 1.3 | 7 | ||||||
Trust customer relationship intangible | $ | 1.7 | 12 | ||||||
Bank of America [Member] | ' | ||||||||
Schedule of Preliminary Purchase Price Allocation | ' | ||||||||
Based on management’s preliminary valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on assumptions that are subject to change, the purchase price for the Bank of America branch acquisition is allocated as follows (in thousands): | |||||||||
Cash and cash equivalents | $ | 562,906 | |||||||
Loans | 5,638 | ||||||||
Premises and equipment | 12,559 | ||||||||
Accrued interest receivable | 15 | ||||||||
Other assets | 331 | ||||||||
Deposits | (565,106 | ) | |||||||
Accrued expenses and other liabilities | (246 | ) | |||||||
Net tangible assets acquired | 16,097 | ||||||||
Definite-lived intangible assets acquired | 3,462 | ||||||||
Goodwill | 13,347 | ||||||||
Purchase price | $ | 32,906 | |||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) (“AOCI”) net of tax for 2013 and summarizes the significant amounts reclassified out of each component of AOCI: | |||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2013 (a) | |||||||||||||||||||||
Unrealized Gains | Unrealized Gains | Gains and | Defined | Total | |||||||||||||||||
and Losses on | and Losses on | Losses on | Benefit | ||||||||||||||||||
Available-for-Sale | Held-to-Maturity | Cash Flow | Pension | ||||||||||||||||||
Securities | Securities | Hedges | Plans | ||||||||||||||||||
AOCI at January 1, 2013 | $ | 39,054 | $ | 3,269 | $ | — | $ | (12,522 | ) | $ | 29,801 | ||||||||||
Other comprehensive income (loss) before reclassifications | (57,958 | ) | (20,224 | ) | (190 | ) | — | (78,372 | ) | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) (b) | (2,204 | ) | 188 | — | 6,121 | 4,105 | |||||||||||||||
Net current-period other comprehensive income (loss) | (60,162 | ) | (20,036 | ) | (190 | ) | 6,121 | (74,267 | ) | ||||||||||||
AOCI at December 31, 2013 | $ | (21,108 | ) | $ | (16,767 | ) | $ | (190 | ) | $ | (6,401 | ) | $ | (44,466 | ) | ||||||
(a) | All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||
(b) | See table below for details about reclassifications. | ||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income by Component | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2012 (a) | |||||||||||||||||||||
Unrealized Gains | Unrealized Gains | Gains and | Defined | ||||||||||||||||||
and Losses on | and Losses on | Losses on | Benefit | ||||||||||||||||||
Available-for-Sale | Held-to-Maturity | Cash Flow | Pension | ||||||||||||||||||
Securities | Securities | Hedges | Plans | Total | |||||||||||||||||
Balance at January 1, 2012 | $ | 24,612 | $ | 4,745 | $ | 145 | $ | (14,498 | ) | $ | 15,004 | ||||||||||
Other comprehensive income (loss) before reclassifications | 22,808 | (954 | ) | — | — | 21,854 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) (b) | (8,366 | ) | (522 | ) | (145 | ) | 1,976 | (7,057 | ) | ||||||||||||
Net current-period other comprehensive income (loss) | 14,442 | (1,476 | ) | (145 | ) | 1,976 | 14,797 | ||||||||||||||
Balance at December 31, 2012 | $ | 39,054 | $ | 3,269 | $ | — | $ | (12,522 | ) | $ | 29,801 | ||||||||||
(a) | All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||||||
(b) | See table below for details about reclassifications. | ||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2013 (a) | |||||||||||||||||||||
Details about Accumulated | Amount Reclassified from | Affected Line Item in the Statement | |||||||||||||||||||
Other Comprehensive Income | Accumulated Other | Where Net Income is Presented | |||||||||||||||||||
(Loss) Components | Comprehensive Income (Loss) | ||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | |||||||||||||||||||||
$ | 4,341 | Net securities gains | |||||||||||||||||||
(1,000 | ) | Impairment losses | |||||||||||||||||||
3,341 | Total before tax | ||||||||||||||||||||
(1,137 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 2,204 | Net of tax | |||||||||||||||||||
Unrealized gains and losses on held-to-maturity securities | |||||||||||||||||||||
$ | (225 | ) | Interest income/(expense) | ||||||||||||||||||
37 | Tax (expense) or benefit | ||||||||||||||||||||
$ | (188 | ) | Net of tax | ||||||||||||||||||
Gains and losses on cash flow hedges Interest rate contracts | $ | — | Interest income/(expense) | ||||||||||||||||||
— | Tax (expense) or benefit | ||||||||||||||||||||
$ | — | Net of tax | |||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||
Acturial gains/(losses) | $ | (10,337 | ) | (b) | |||||||||||||||||
4,216 | Tax (expense) or benefit | ||||||||||||||||||||
$ | (6,121 | ) | Net of tax | ||||||||||||||||||
Total reclassifications for the period | $ | (4,105 | ) | Net of tax | |||||||||||||||||
(a) | Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||||||
(b) | This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost. See Note 14 for additional details on our pension plans. | ||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
For the Twelve Months Ended December 31, 2012 | |||||||||||||||||||||
Details about Accumulated | Amount Reclassified from | ||||||||||||||||||||
Other Comprehensive Income | Accumulated Other | Affected Line Item in the Statement | |||||||||||||||||||
(Loss) Components | Comprehensive Income (Loss) | Where Net Income is Presented | |||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | |||||||||||||||||||||
$ | 15,052 | Net securities gains | |||||||||||||||||||
(1,414 | ) | Impairment losses | |||||||||||||||||||
13,638 | Total before tax | ||||||||||||||||||||
(5,272 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 8,366 | Net of tax | |||||||||||||||||||
Unrealized gains and losses on held-to-maturity securities | |||||||||||||||||||||
$ | 870 | Interest income/(expense) | |||||||||||||||||||
(348 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 522 | Net of tax | |||||||||||||||||||
Gains and losses on cash flow hedges Interest rate contracts | $ | 240 | Interest income/(expense) | ||||||||||||||||||
(95 | ) | Tax (expense) or benefit | |||||||||||||||||||
$ | 145 | Net of tax | |||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||
Acturial gains/(losses) | $ | (3,294 | ) | (b) | |||||||||||||||||
1,318 | Tax (expense) or benefit | ||||||||||||||||||||
$ | (1,976 | ) | Net of tax | ||||||||||||||||||
Total reclassifications for the period | $ | 7,057 | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||||||
(b) | This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost. See Note 14 for additional details on our pension plans. |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Investment Securities Portfolio | ' | ||||||||||||||||||||||||||||||||||||
The following tables summarize the amortized cost and fair value of the available-for-sale and held-to-maturity investment securities portfolio at December 31 and the corresponding amounts of unrealized gains and losses therein: | |||||||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||||||||||||||
(dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 12,995 | $ | 118 | $ | — | $ | 13,113 | |||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | 456,123 | 464 | (20,999 | ) | 435,588 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 1,300,135 | 15,690 | (26,567 | ) | 1,289,258 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Non-agency | 17,036 | 376 | — | 17,412 | |||||||||||||||||||||||||||||||||
States and political subdivisions | 260,398 | 10,112 | (1,715 | ) | 268,795 | ||||||||||||||||||||||||||||||||
Pooled trust prefered securities | 19,215 | — | (11,178 | ) | 8,037 | ||||||||||||||||||||||||||||||||
Other securities | 340,381 | 5,140 | (5,523 | ) | 339,998 | ||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 2,406,283 | $ | 31,900 | $ | (65,982 | ) | $ | 2,372,201 | ||||||||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | $ | 170,621 | $ | 7,749 | $ | — | $ | 178,370 | |||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 35,443 | 906 | (1 | ) | 36,348 | ||||||||||||||||||||||||||||||||
States and political subdivisions | 556,670 | 10,949 | (1,579 | ) | 566,040 | ||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 762,734 | $ | 19,604 | $ | (1,580 | ) | $ | 780,758 | ||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 11,437 | $ | 404 | $ | — | $ | 11,841 | |||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | 515,469 | 2,794 | (938 | ) | 517,325 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 1,130,991 | 33,244 | (447 | ) | 1,163,788 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities - Non-agency | 29,359 | 1,175 | (338 | ) | 30,196 | ||||||||||||||||||||||||||||||||
States and political subdivisions | 542,559 | 35,805 | (1,040 | ) | 577,324 | ||||||||||||||||||||||||||||||||
Pooled trust preferred securities | 24,884 | — | (15,525 | ) | 9,359 | ||||||||||||||||||||||||||||||||
Other securities | 182,070 | 10,473 | (1,592 | ) | 190,951 | ||||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 2,436,769 | $ | 83,895 | $ | (19,880 | ) | $ | 2,500,784 | ||||||||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | $ | 173,936 | $ | 14,327 | $ | — | $ | 188,263 | |||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 56,612 | 2,307 | — | 58,919 | |||||||||||||||||||||||||||||||||
States and political subdivisions | 169,282 | 13,739 | — | 183,021 | |||||||||||||||||||||||||||||||||
Other securities | 2,998 | — | — | 2,998 | |||||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 402,828 | $ | 30,373 | $ | — | $ | 433,201 | |||||||||||||||||||||||||||||
Expected Maturities of Investment Securities Portfolio | ' | ||||||||||||||||||||||||||||||||||||
Weighted average yield is based on amortized cost. | |||||||||||||||||||||||||||||||||||||
2013 | Weighted | 2012 | Weighted | ||||||||||||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair | Average | Amortized | Fair | Average | |||||||||||||||||||||||||||||||
Maturity | Cost | Value | Yield | Cost | Value | Yield | |||||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||||||||||
Within one year | $ | 23,839 | $ | 23,884 | 3.52 | % | $ | 30,284 | $ | 30,544 | 3.19 | % | |||||||||||||||||||||||||
One to five years | 216,236 | 222,293 | 2.79 | 111,294 | 116,982 | 3.33 | |||||||||||||||||||||||||||||||
Five to ten years | 534,720 | 519,692 | 2.39 | 651,094 | 665,199 | 2.48 | |||||||||||||||||||||||||||||||
Beyond ten years | 1,631,488 | 1,606,332 | 2.46 | 1,644,097 | 1,688,059 | 3.17 | |||||||||||||||||||||||||||||||
Total | $ | 2,406,283 | $ | 2,372,201 | 2.48 | % | $ | 2,436,769 | $ | 2,500,784 | 2.99 | % | |||||||||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||||||||||||||
Within one year | $ | 72 | $ | 73 | 3.46 | % | $ | 3,066 | $ | 3,066 | 2.25 | % | |||||||||||||||||||||||||
One to five years | 15,035 | 15,757 | 4.02 | 2,355 | 2,427 | 3.35 | |||||||||||||||||||||||||||||||
Five to ten years | 164,138 | 169,345 | 3.19 | 144,701 | 153,882 | 2.94 | |||||||||||||||||||||||||||||||
Beyond ten years | 583,489 | 595,583 | 5.56 | 252,706 | 273,826 | 4.48 | |||||||||||||||||||||||||||||||
Total | $ | 762,734 | $ | 780,758 | 5.02 | % | $ | 402,828 | $ | 433,201 | 3.9 | % | |||||||||||||||||||||||||
Investment Securities with Unrealized Losses by Aggregated Major Security Type and Length of Time in Continuous Unrealized Loss Position | ' | ||||||||||||||||||||||||||||||||||||
The following table summarizes the investment securities with unrealized losses at December 31 by aggregated major security type and length of time in a continuous unrealized loss position: | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 1,900 | $ | — | $ | — | $ | — | $ | 1,900 | $ | — | |||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | 357,793 | (17,547 | ) | 38,988 | (3,452 | ) | 396,781 | (20,999 | ) | ||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | 668,018 | (23,455 | ) | 41,200 | (3,112 | ) | 709,218 | (26,567 | ) | ||||||||||||||||||||||||||||
States and political subdivisions | 45,077 | (1,620 | ) | 2,812 | (95 | ) | 47,889 | (1,715 | ) | ||||||||||||||||||||||||||||
Pooled trust preferrred securities | — | — | 8,037 | (11,178 | ) | 8,037 | (11,178 | ) | |||||||||||||||||||||||||||||
Other securities | 209,915 | (2,706 | ) | 24,082 | (2,817 | ) | 233,997 | (5,523 | ) | ||||||||||||||||||||||||||||
Total available-for-sale | $ | 1,282,703 | $ | (45,328 | ) | $ | 115,119 | $ | (20,654 | ) | $ | 1,397,822 | $ | (65,982 | ) | ||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
Mortgage-backed securities - Agency | $ | 21,370 | $ | (1 | ) | $ | — | $ | — | $ | 21,370 | $ | (1 | ) | |||||||||||||||||||||||
States and political subdivisions | 70,162 | (1,579 | ) | — | — | 70,162 | (1,579 | ) | |||||||||||||||||||||||||||||
Total held-to-maturity | $ | 91,532 | $ | (1,580 | ) | $ | — | $ | — | $ | 91,532 | $ | (1,580 | ) | |||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. Government-sponsored entities and agencies | $ | 201,151 | $ | (938 | ) | $ | — | $ | — | $ | 201,151 | $ | (938 | ) | |||||||||||||||||||||||
Mortgage-backed securities - Agency | 64,213 | (447 | ) | — | — | 64,213 | (447 | ) | |||||||||||||||||||||||||||||
Mortgage-backed securities - Non-agency | — | — | 5,696 | (338 | ) | 5,696 | (338 | ) | |||||||||||||||||||||||||||||
States and political subdivisions | 63,311 | (1,040 | ) | — | — | 63,311 | (1,040 | ) | |||||||||||||||||||||||||||||
Pooled trust preferrred securities | — | — | 9,359 | (15,525 | ) | 9,359 | (15,525 | ) | |||||||||||||||||||||||||||||
Other securities | 23,617 | (162 | ) | 6,658 | (1,430 | ) | 30,275 | (1,592 | ) | ||||||||||||||||||||||||||||
Total available-for-sale | $ | 352,292 | $ | (2,587 | ) | $ | 21,713 | $ | (17,293 | ) | $ | 374,005 | $ | (19,880 | ) | ||||||||||||||||||||||
Pooled Trust Preferred Securities | ' | ||||||||||||||||||||||||||||||||||||
As depicted in the table below, all four securities have experienced credit defaults. However, two of these securities have excess subordination and are not other-than-temporarily-impaired as a result of their class hierarchy which provides more loss protection. | |||||||||||||||||||||||||||||||||||||
Trust preferred securities | Class | Lowest | Amortized | Fair | Unrealized | Realized | # of Issuers | Actual | Expected | Excess | |||||||||||||||||||||||||||
December 31, 2013 | Credit | Cost | Value | Gain/ | Losses | Currently | Deferrals and | Defaults as | Subordination | ||||||||||||||||||||||||||||
(Dollars in Thousands) | Rating (1) | (Loss) | 2013 | Performing/ | Defaults as a | a % of | as a % | ||||||||||||||||||||||||||||||
Remaining | Percent of | Remaining | of Current | ||||||||||||||||||||||||||||||||||
Original | Performing | Performing | |||||||||||||||||||||||||||||||||||
Collateral | Collateral | Collateral | |||||||||||||||||||||||||||||||||||
Pooled trust preferred securities: | |||||||||||||||||||||||||||||||||||||
MM Community Funding IX | B-2 | D | $ | 1,067 | $ | 918 | $ | (149 | ) | $ | 1,000 | 14/27 | 32 | % | NA | 0 | % | ||||||||||||||||||||
Reg Div Funding 2004 | B-2 | D | 4,012 | 246 | (3,766 | ) | — | 24/43 | 39.9 | % | 5.4 | % | 0 | % | |||||||||||||||||||||||
Pretsl XXVII LTD | B | CCC | 4,711 | 1,928 | (2,783 | ) | — | 33/47 | 25.1 | % | 18.3 | % | 31.5 | % | |||||||||||||||||||||||
Trapeza Ser 13A | A2A | B+ | 9,425 | 4,945 | (4,480 | ) | — | 42/61 | 26 | % | 15.6 | % | 43.8 | % | |||||||||||||||||||||||
19,215 | 8,037 | (11,178 | ) | 1,000 | |||||||||||||||||||||||||||||||||
Single Issuer trust preferred securities: | |||||||||||||||||||||||||||||||||||||
First Empire Cap (M&T) | BB+ | 959 | 1,014 | 55 | — | ||||||||||||||||||||||||||||||||
First Empire Cap (M&T) | BB+ | 2,912 | 3,043 | 131 | — | ||||||||||||||||||||||||||||||||
Fleet Cap Tr V (BOA) | BB+ | 3,373 | 2,765 | (608 | ) | — | |||||||||||||||||||||||||||||||
JP Morgan Chase Cap XIII | BBB | 4,734 | 3,950 | (784 | ) | — | |||||||||||||||||||||||||||||||
NB-Global | BB+ | 734 | 790 | 56 | — | ||||||||||||||||||||||||||||||||
12,712 | 11,562 | (1,150 | ) | — | |||||||||||||||||||||||||||||||||
Total | $ | 31,927 | $ | 19,599 | $ | (12,328 | ) | $ | 1,000 | ||||||||||||||||||||||||||||
-1 | Lowest rating for the security provided by any nationally recognized credit rating agency. | ||||||||||||||||||||||||||||||||||||
Securities with Other-than-Temporary-Impairment | ' | ||||||||||||||||||||||||||||||||||||
The following table details all securities with other-than-temporary-impairment, their credit rating at December 31, 2013 and the related credit losses recognized in earnings: | |||||||||||||||||||||||||||||||||||||
Amount of other-than-temporary | |||||||||||||||||||||||||||||||||||||
Lowest | impairment recognized in earnings | ||||||||||||||||||||||||||||||||||||
Credit | Amortized | Twelve Months ended December 31, | Life-to | ||||||||||||||||||||||||||||||||||
Vintage | Rating (1) | Cost | 2013 | 2012 | 2011 | 2010 | 2009 | date | |||||||||||||||||||||||||||||
Non-agency mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
BAFC Ser 4 | 2007 | CCC | $ | 9,517 | $ | — | $ | 299 | $ | — | $ | 79 | $ | 63 | $ | 441 | |||||||||||||||||||||
CWALT Ser 73CB (2) | 2005 | — | 151 | — | 207 | 83 | 441 | ||||||||||||||||||||||||||||||
CWALT Ser 73CB (2) | 2005 | — | 35 | — | 427 | 182 | 644 | ||||||||||||||||||||||||||||||
CWHL 2006-10 (2) | 2006 | — | — | — | 309 | 762 | 1,071 | ||||||||||||||||||||||||||||||
CWHL 2005-20 | 2005 | — | — | — | 39 | 72 | 111 | ||||||||||||||||||||||||||||||
FHASI Ser 4 (2) | 2007 | — | — | 340 | 629 | 223 | 1,192 | ||||||||||||||||||||||||||||||
HALO Ser 1R (2) | 2006 | — | 133 | 16 | — | — | 149 | ||||||||||||||||||||||||||||||
RFMSI Ser S9 (2) | 2006 | — | — | — | 923 | 1,880 | 2,803 | ||||||||||||||||||||||||||||||
RFMSI Ser S10 | 2006 | D | 2,493 | — | 178 | 165 | 76 | 249 | 668 | ||||||||||||||||||||||||||||
RALI QS2 (2) | 2006 | — | — | — | 278 | 739 | 1,017 | ||||||||||||||||||||||||||||||
RAST A9 | 2004 | — | 142 | — | — | — | 142 | ||||||||||||||||||||||||||||||
RFMSI S1 (2) | 2006 | — | — | — | 30 | 176 | 206 | ||||||||||||||||||||||||||||||
12,010 | — | 938 | 521 | 2,997 | 4,429 | 8,885 | |||||||||||||||||||||||||||||||
Pooled trust preferred securities: | |||||||||||||||||||||||||||||||||||||
TROPC (2) | 2003 | — | — | 888 | 444 | 3,517 | 4,849 | ||||||||||||||||||||||||||||||
MM Community Funding IX | 2003 | D | 1,067 | 1,000 | — | — | 165 | 2,612 | 3,777 | ||||||||||||||||||||||||||||
Reg Div Funding | 2004 | D | 4,012 | — | 165 | — | 321 | 5,199 | 5,685 | ||||||||||||||||||||||||||||
Pretsl XII (2) | 2003 | — | — | — | — | 1,897 | 1,897 | ||||||||||||||||||||||||||||||
Pretsl XV (2) | 2004 | — | — | — | — | 3,374 | 3,374 | ||||||||||||||||||||||||||||||
Reg Div Funding (3) | 2005 | — | 311 | — | — | 3,767 | 4,078 | ||||||||||||||||||||||||||||||
5,079 | 1,000 | 476 | 888 | 930 | 20,366 | 23,660 | |||||||||||||||||||||||||||||||
Total other-than-temporary-impairment recognized in earnings | $ | 1,000 | $ | 1,414 | $ | 1,409 | $ | 3,927 | $ | 24,795 | $ | 32,545 | |||||||||||||||||||||||||
-1 | Lowest rating for the security provided by any nationally recognized credit rating agency. | ||||||||||||||||||||||||||||||||||||
-2 | Securities sold. | ||||||||||||||||||||||||||||||||||||
-3 | Security written down to zero. |
Finance_Receivables_and_Allowa1
Finance Receivables and Allowance for Credit Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Composition of Loans | ' | ||||||||||||||||||||||||
The composition of loans at December 31 by lending classification was as follows: | |||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Commercial (1) | $ | 1,373,415 | $ | 1,336,820 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Construction | 88,630 | 99,081 | |||||||||||||||||||||||
Other | 1,072,260 | 1,156,802 | |||||||||||||||||||||||
Residential real estate | 1,359,569 | 1,324,703 | |||||||||||||||||||||||
Consumer credit: | |||||||||||||||||||||||||
Heloc | 251,102 | 258,114 | |||||||||||||||||||||||
Auto | 620,473 | 526,085 | |||||||||||||||||||||||
Other | 99,683 | 122,656 | |||||||||||||||||||||||
Covered loans | 217,832 | 372,333 | |||||||||||||||||||||||
Total loans | 5,082,964 | 5,196,594 | |||||||||||||||||||||||
Allowance for loan losses | (41,741 | ) | (49,047 | ) | |||||||||||||||||||||
Allowance for loan losses - covered loans | (5,404 | ) | (5,716 | ) | |||||||||||||||||||||
Net loans | $ | 5,035,819 | $ | 5,141,831 | |||||||||||||||||||||
-1 | Includes direct finance leases of $27.8 million and $57.7 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||
Schedule of Activity in Related Party Loans | ' | ||||||||||||||||||||||||
Activity in related party loans during 2013 is presented in the following table: | |||||||||||||||||||||||||
(dollars in thousands) | 2013 | ||||||||||||||||||||||||
Balance, January 1 | $ | 13,975 | |||||||||||||||||||||||
New loans | 1,996 | ||||||||||||||||||||||||
Repayments | (3,254 | ) | |||||||||||||||||||||||
Officer and director changes | 33 | ||||||||||||||||||||||||
Balance, December 31 | $ | 12,750 | |||||||||||||||||||||||
Schedule of Activity in Allowance for Loan Losses | ' | ||||||||||||||||||||||||
Old National’s activity in the allowance for loan losses for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 14,642 | $ | 31,289 | $ | 5,155 | $ | 3,677 | $ | — | $ | 54,763 | |||||||||||||
Charge-offs | (3,810 | ) | (5,427 | ) | (6,279 | ) | (1,487 | ) | — | (17,003 | ) | ||||||||||||||
Recoveries | 4,098 | 2,963 | 4,333 | 310 | — | 11,704 | |||||||||||||||||||
Provision | 1,635 | (6,424 | ) | 1,731 | 739 | — | (2,319 | ) | |||||||||||||||||
Ending balance | $ | 16,565 | $ | 22,401 | $ | 4,940 | $ | 3,239 | $ | — | $ | 47,145 | |||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2012 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 19,964 | $ | 26,993 | $ | 6,954 | $ | 4,149 | $ | — | $ | 58,060 | |||||||||||||
Charge-offs | (7,636 | ) | (4,386 | ) | (8,094 | ) | (2,204 | ) | — | (22,320 | ) | ||||||||||||||
Recoveries | 5,166 | 5,104 | 3,259 | 464 | — | 13,993 | |||||||||||||||||||
Provision | (2,852 | ) | 3,578 | 3,036 | 1,268 | — | 5,030 | ||||||||||||||||||
Ending balance | $ | 14,642 | $ | 31,289 | $ | 5,155 | $ | 3,677 | $ | — | $ | 54,763 | |||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2011 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 26,204 | $ | 32,654 | $ | 11,142 | $ | 2,309 | $ | — | $ | 72,309 | |||||||||||||
Charge-offs | (10,300 | ) | (12,319 | ) | (10,335 | ) | (1,945 | ) | — | (34,899 | ) | ||||||||||||||
Recoveries | 4,330 | 2,302 | 6,226 | 319 | — | 13,177 | |||||||||||||||||||
Provision | (270 | ) | 4,356 | (79 | ) | 3,466 | — | 7,473 | |||||||||||||||||
Ending balance | $ | 19,964 | $ | 26,993 | $ | 6,954 | $ | 4,149 | $ | — | $ | 58,060 | |||||||||||||
Schedule of Recorded Investment in Financing Receivables | ' | ||||||||||||||||||||||||
The following table provides Old National’s recorded investment in financing receivables by portfolio segment at December 31, 2013, and 2012 and other information regarding the allowance: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,156 | $ | 2,190 | $ | — | $ | — | $ | — | $ | 8,346 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 9,980 | $ | 14,816 | $ | 4,494 | $ | 3,088 | $ | — | $ | 32,378 | |||||||||||||
Ending balance: noncovered loans acquired with deteriorated credit quality | $ | 429 | $ | 2,025 | $ | 80 | $ | 35 | $ | — | $ | 2,569 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | — | $ | 3,370 | $ | 366 | $ | 116 | $ | — | $ | 3,852 | |||||||||||||
Total allowance for credit losses | $ | 16,565 | $ | 22,401 | $ | 4,940 | $ | 3,239 | $ | — | $ | 47,145 | |||||||||||||
Loans and leases outstanding: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 34,213 | $ | 34,997 | $ | — | $ | — | $ | — | $ | 69,210 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,355,608 | $ | 1,106,971 | $ | 1,019,576 | $ | 1,359,564 | $ | — | $ | 4,841,719 | |||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 648 | $ | 23,618 | $ | 12,725 | $ | 154 | $ | — | $ | 37,145 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | 12,281 | $ | 77,232 | $ | 17,673 | $ | 27,704 | $ | — | $ | 134,890 | |||||||||||||
Total loans and leases outstanding | $ | 1,402,750 | $ | 1,242,818 | $ | 1,049,974 | $ | 1,387,422 | $ | — | $ | 5,082,964 | |||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Unallocated | Total | |||||||||||||||||||
2012 | |||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 4,702 | $ | 2,790 | $ | — | $ | — | $ | — | $ | 7,492 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 9,900 | $ | 19,541 | $ | 4,202 | $ | 3,637 | $ | — | $ | 37,280 | |||||||||||||
Ending balance: noncovered loans acquired with deteriorated credit quality | $ | 40 | $ | 4,060 | $ | 135 | $ | 40 | $ | — | $ | 4,275 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | — | $ | 4,898 | $ | 818 | $ | — | $ | — | $ | 5,716 | |||||||||||||
Total allowance for credit losses | $ | 14,642 | $ | 31,289 | $ | 5,155 | $ | 3,677 | $ | — | $ | 54,763 | |||||||||||||
Loans and leases outstanding: | |||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 29,980 | $ | 47,257 | $ | — | $ | — | $ | — | $ | 77,237 | |||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,330,913 | $ | 1,175,830 | $ | 946,654 | $ | 1,334,813 | $ | — | $ | 4,788,210 | |||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 7,859 | $ | 52,981 | $ | 22,432 | $ | 123 | $ | — | $ | 83,395 | |||||||||||||
Ending balance: covered loans acquired with deteriorated credit quality | $ | 23,707 | $ | 162,641 | $ | 35,741 | $ | 25,663 | $ | — | $ | 247,752 | |||||||||||||
Total loans and leases outstanding | $ | 1,392,459 | $ | 1,438,709 | $ | 1,004,827 | $ | 1,360,599 | $ | — | $ | 5,196,594 | |||||||||||||
Schedule of Risk Category of Loans | ' | ||||||||||||||||||||||||
As of December 31, 2013 and 2012, the risk category of loans, excluding covered loans, by class of loans is as follows: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Corporate Credit Exposure | Commercial Real Estate- | Commercial Real Estate- | |||||||||||||||||||||||
Credit Risk Profile by Internally | Commercial | Construction | Other | ||||||||||||||||||||||
Assigned Grade | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Grade: | |||||||||||||||||||||||||
Pass | $ | 1,237,983 | $ | 1,237,274 | $ | 74,815 | $ | 62,604 | $ | 943,781 | $ | 965,967 | |||||||||||||
Criticized | 90,545 | 38,476 | 9,383 | 11,969 | 35,473 | 62,819 | |||||||||||||||||||
Classified - substandard | 16,252 | 24,304 | 2,559 | 10,204 | 42,516 | 46,491 | |||||||||||||||||||
Classified - nonaccrual (1) | 27,635 | 36,766 | 1,873 | 14,304 | 49,406 | 81,525 | |||||||||||||||||||
Classified - doubtful | 1,000 | — | — | — | 1,084 | — | |||||||||||||||||||
Total | $ | 1,373,415 | $ | 1,336,820 | $ | 88,630 | $ | 99,081 | $ | 1,072,260 | $ | 1,156,802 | |||||||||||||
-1 | Classified - nonaccrual includes doubtful loans in 2012. An additional asset quality rating was added as of December 31, 2013. | ||||||||||||||||||||||||
Schedule of Recorded Investment in Residential and Consumer Loans Based on Payment Activity | ' | ||||||||||||||||||||||||
The following table presents the recorded investment in residential and consumer loans based on payment activity as of December 31, 2013 and 2012, excluding covered loans: | |||||||||||||||||||||||||
2013 | Consumer | Residential | |||||||||||||||||||||||
(dollars in thousands) | Heloc | Auto | Other | ||||||||||||||||||||||
Performing | $ | 249,152 | $ | 618,911 | $ | 97,877 | $ | 1,349,236 | |||||||||||||||||
Nonaccrual | 1,950 | 1,562 | 1,806 | 10,333 | |||||||||||||||||||||
$ | 251,102 | $ | 620,473 | $ | 99,683 | $ | 1,359,569 | ||||||||||||||||||
2012 | Consumer | Residential | |||||||||||||||||||||||
(dollars in thousands) | Heloc | Auto | Other | ||||||||||||||||||||||
Performing | $ | 256,394 | $ | 524,105 | $ | 120,547 | $ | 1,312,717 | |||||||||||||||||
Nonaccrual | 1,720 | 1,980 | 2,109 | 11,986 | |||||||||||||||||||||
$ | 258,114 | $ | 526,085 | $ | 122,656 | $ | 1,324,703 | ||||||||||||||||||
Schedule of Impaired Loans that are Individually Evaluated | ' | ||||||||||||||||||||||||
The following table shows Old National’s impaired loans, excluding covered loans, that are individually evaluated as of December 31, 2013 and 2012, respectively. Of the loans purchased during 2012 and 2011 without FDIC loss share coverage, only those that have experienced subsequent impairment since the date acquired are included in the table below. | |||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||
(dollars in thousands) | Investment | Balance | Allowance | ||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 17,066 | $ | 17,417 | $ | — | |||||||||||||||||||
Commercial Real Estate—Construction | 525 | 633 | — | ||||||||||||||||||||||
Commercial Real Estate—Other | 15,746 | 22,550 | — | ||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 9,282 | 12,304 | 4,723 | ||||||||||||||||||||||
Commercial Real Estate—Construction | — | — | — | ||||||||||||||||||||||
Commercial Real Estate—Other | 18,726 | 19,358 | 2,190 | ||||||||||||||||||||||
Total Commercial | $ | 61,345 | $ | 72,262 | $ | 6,913 | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 6,563 | $ | 9,280 | $ | — | |||||||||||||||||||
Commercial Real Estate—Construction | 1,179 | 1,287 | — | ||||||||||||||||||||||
Commercial Real Estate—Other | 16,944 | 23,162 | — | ||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 23,417 | 28,574 | 4,702 | ||||||||||||||||||||||
Commercial Real Estate—Construction | 3,227 | 3,227 | 69 | ||||||||||||||||||||||
Commercial Real Estate—Other | 25,907 | 28,732 | 2,721 | ||||||||||||||||||||||
Total Commercial | $ | 77,237 | $ | 94,262 | $ | 7,492 | |||||||||||||||||||
Schedule of Average Balance and Interest Income Recognized on Impaired Loans | ' | ||||||||||||||||||||||||
The average balance of impaired loans, excluding covered loans, and interest income recognized on impaired loans for the twelve months ended December 31, 2013 and 2012 are included in the tables below. | |||||||||||||||||||||||||
Average | Interest | ||||||||||||||||||||||||
Recorded | Income | ||||||||||||||||||||||||
(dollars in thousands) | Investment | Recognized (1) | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 11,815 | $ | 135 | |||||||||||||||||||||
Commercial Real Estate—Construction | 852 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 16,345 | 140 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 16,351 | 123 | |||||||||||||||||||||||
Commercial Real Estate—Construction | 1,614 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 22,317 | 134 | |||||||||||||||||||||||
Total Commercial | $ | 69,294 | $ | 532 | |||||||||||||||||||||
-1 | The Company does not record interest on nonaccrual loans until principal is recovered. | ||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial | $ | 8,329 | $ | 166 | |||||||||||||||||||||
Commercial Real Estate—Construction | 895 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 17,541 | 224 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial | 22,581 | 116 | |||||||||||||||||||||||
Commercial Real Estate—Construction | 2,742 | — | |||||||||||||||||||||||
Commercial Real Estate—Other | 24,066 | 473 | |||||||||||||||||||||||
Total Commercial | $ | 76,154 | $ | 979 | |||||||||||||||||||||
-1 | The Company does not record interest on nonaccrual loans until principal is recovered. | ||||||||||||||||||||||||
Schedule of Past Due Financing Receivables | ' | ||||||||||||||||||||||||
Old National’s past due financing receivables as of December 31 are as follows: | |||||||||||||||||||||||||
Recorded | |||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total | ||||||||||||||||||||||
(dollars in thousands) | Past Due | Past Due | Accruing | Nonaccrual | Past Due | Current | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Commercial | $ | 1,532 | $ | 13 | $ | — | $ | 28,635 | $ | 30,180 | $ | 1,343,235 | |||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Construction | — | 139 | — | 1,873 | 2,012 | 86,618 | |||||||||||||||||||
Other | 1,017 | 27 | — | 50,490 | 51,534 | 1,020,726 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Heloc | 527 | 119 | — | 1,950 | 2,596 | 248,506 | |||||||||||||||||||
Auto | 3,795 | 716 | 89 | 1,562 | 6,162 | 614,311 | |||||||||||||||||||
Other | 844 | 317 | 100 | 1,806 | 3,067 | 96,616 | |||||||||||||||||||
Residential | 8,588 | 2,823 | 35 | 10,333 | 21,779 | 1,337,790 | |||||||||||||||||||
Covered loans | 1,831 | 730 | 14 | 31,793 | 34,368 | 183,464 | |||||||||||||||||||
Total | $ | 18,134 | $ | 4,884 | $ | 238 | $ | 128,442 | $ | 151,698 | $ | 4,931,266 | |||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Commercial | $ | 2,691 | $ | 515 | $ | 322 | $ | 36,766 | $ | 40,294 | $ | 1,296,526 | |||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Construction | 11 | — | — | 14,304 | 14,315 | 84,766 | |||||||||||||||||||
Other | 3,439 | 665 | 236 | 81,525 | 85,865 | 1,070,937 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Heloc | 961 | 15 | — | 1,720 | 2,696 | 255,418 | |||||||||||||||||||
Auto | 4,070 | 881 | 328 | 1,980 | 7,259 | 518,826 | |||||||||||||||||||
Other | 1,732 | 403 | 110 | 2,109 | 4,354 | 118,302 | |||||||||||||||||||
Residential | 14,686 | 1,874 | 66 | 11,986 | 28,612 | 1,296,091 | |||||||||||||||||||
Covered Loans | 2,891 | 941 | 15 | 103,946 | 107,793 | 264,540 | |||||||||||||||||||
Total | $ | 30,481 | $ | 5,294 | $ | 1,077 | $ | 254,336 | $ | 291,188 | $ | 4,905,406 | |||||||||||||
Schedule of Loans by Class Modified as Troubled Debt Restructuring | ' | ||||||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the twelve months ended December 31, 2013: | |||||||||||||||||||||||||
Pre-modification | Post-modification | ||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||
(dollars in thousands) | Loans | Investment | Investment | ||||||||||||||||||||||
Troubled Debt Restructuring: | |||||||||||||||||||||||||
Commercial | 35 | $ | 16,196 | $ | 15,155 | ||||||||||||||||||||
Commercial Real Estate—construction | 1 | 60 | 60 | ||||||||||||||||||||||
Commercial Real Estate—other | 36 | 10,585 | 9,791 | ||||||||||||||||||||||
Residential | 14 | 1,936 | 1,901 | ||||||||||||||||||||||
Consumer —other | 49 | 1,622 | 1,484 | ||||||||||||||||||||||
Total | 135 | $ | 30,399 | $ | 28,391 | ||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the twelve months ended December 31, 2012: | |||||||||||||||||||||||||
Pre-modification | Post-modification | ||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||
(dollars in thousands) | Loans | Investment | Investment | ||||||||||||||||||||||
Troubled Debt Restructuring: | |||||||||||||||||||||||||
Commercial | 44 | $ | 9,585 | $ | 9,574 | ||||||||||||||||||||
Commercial Real Estate—construction | 3 | 1,392 | 1,382 | ||||||||||||||||||||||
Commercial Real Estate—other | 35 | 16,404 | 16,272 | ||||||||||||||||||||||
Residential | 13 | 532 | 534 | ||||||||||||||||||||||
Consumer —other | 13 | 494 | 460 | ||||||||||||||||||||||
Total | 108 | $ | 28,407 | $ | 28,222 | ||||||||||||||||||||
Schedule of Troubled Debt Restructurings for which there was Payment Default | ' | ||||||||||||||||||||||||
The following table presents loans by class modified as TDRs for which there was a payment default within the last twelve months following the modification during the twelve months ended December 31, 2013. | |||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | |||||||||||||||||||||||
Troubled Debt Restructuring | |||||||||||||||||||||||||
That Subsequently Defaulted: | |||||||||||||||||||||||||
Commercial | 3 | $ | 32 | ||||||||||||||||||||||
Commercial Real Estate | 2 | 85 | |||||||||||||||||||||||
Total | 5 | $ | 117 | ||||||||||||||||||||||
The following table presents loans by class modified as TDRs for which there was a payment default within the last twelve months following the modification during the twelve months ended December 31, 2012: | |||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | |||||||||||||||||||||||
Troubled Debt Restructuring | |||||||||||||||||||||||||
That Subsequently Defaulted: | |||||||||||||||||||||||||
Commercial | 8 | $ | 500 | ||||||||||||||||||||||
Commercial Real Estate | 7 | 611 | |||||||||||||||||||||||
Total | 15 | $ | 1,111 | ||||||||||||||||||||||
Schedule of Activity in Trouble Debt Restructurings | ' | ||||||||||||||||||||||||
The following table presents activity in TDRs for the twelve months ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Total | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Troubled debt restructuring: | |||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 12,660 | $ | 18,422 | $ | 473 | $ | 499 | $ | 32,054 | |||||||||||||||
(Charge-offs)/recoveries | 879 | 1 | (61 | ) | 1 | 820 | |||||||||||||||||||
Payments | (6,251 | ) | (5,635 | ) | (455 | ) | (57 | ) | (12,398 | ) | |||||||||||||||
Additions | 15,155 | 9,851 | 1,484 | 1,901 | 28,391 | ||||||||||||||||||||
Balance December 31, 2013 | $ | 22,443 | $ | 22,639 | $ | 1,441 | $ | 2,344 | $ | 48,867 | |||||||||||||||
Commercial | |||||||||||||||||||||||||
(dollars in thousands) | Commercial | Real Estate | Consumer | Residential | Total | ||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Troubled debt restructuring: | |||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 7,086 | $ | 5,851 | $ | 53 | $ | — | $ | 12,990 | |||||||||||||||
Charge-offs | (2,230 | ) | (234 | ) | (20 | ) | — | (2,484 | ) | ||||||||||||||||
Payments | (1,770 | ) | (4,849 | ) | (20 | ) | (35 | ) | (6,674 | ) | |||||||||||||||
Additions | 9,574 | 17,654 | 460 | 534 | 28,222 | ||||||||||||||||||||
Balance December 31, 2012 | $ | 12,660 | $ | 18,422 | $ | 473 | $ | 499 | $ | 32,054 | |||||||||||||||
Schedule of Activity of Purchased Impaired Loans | ' | ||||||||||||||||||||||||
following table. For these noncovered loans that meet the criteria of ASC 310-30 treatment, the carrying amount is as follows: | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Commercial | $ | 648 | $ | 7,859 | |||||||||||||||||||||
Commercial real estate | 23,618 | 52,981 | |||||||||||||||||||||||
Consumer | 12,725 | 22,432 | |||||||||||||||||||||||
Residential | 154 | 123 | |||||||||||||||||||||||
Outstanding balance | $ | 37,145 | $ | 83,395 | |||||||||||||||||||||
Carrying amount, net of allowance | $ | 34,576 | $ | 79,120 | |||||||||||||||||||||
Allowance for loan losses | $ | 2,569 | $ | 4,275 | |||||||||||||||||||||
Schedule of Accretable Difference on Purchased Loans | ' | ||||||||||||||||||||||||
Accretable yield of noncovered loans, or income expected to be collected, is as follows: | |||||||||||||||||||||||||
Integra | |||||||||||||||||||||||||
(dollars in thousands) | Monroe | Noncovered | IBT | Total | |||||||||||||||||||||
Balance at January 1, 2013 | $ | 11,834 | $ | 3,575 | $ | 16,170 | $ | 31,579 | |||||||||||||||||
New loans purchased | — | — | — | — | |||||||||||||||||||||
Accretion of income | (5,647 | ) | (1,311 | ) | (9,819 | ) | (16,777 | ) | |||||||||||||||||
Reclassifications from (to) nonaccretable difference | 521 | 210 | 12,778 | 13,509 | |||||||||||||||||||||
Disposals/other adjustments | 79 | (49 | ) | (50 | ) | (20 | ) | ||||||||||||||||||
Balance at December 31, 2013 | $ | 6,787 | $ | 2,425 | $ | 19,079 | $ | 28,291 | |||||||||||||||||
Schedule of Receivables for which Contractually Required Payments would not be Collected | ' | ||||||||||||||||||||||||
At acquisition, purchased loans, both covered and noncovered, for which it was probable at acquisition that all contractually required payments would not be collected were as follows: | |||||||||||||||||||||||||
Monroe | Integra | ||||||||||||||||||||||||
(dollars in thousands) | Bancorp | Bank | IBT | ||||||||||||||||||||||
Contractually required payments | $ | 94,714 | $ | 921,856 | $ | 118,535 | |||||||||||||||||||
Nonaccretable difference | (45,157 | ) | (226,426 | ) | (53,165 | ) | |||||||||||||||||||
Cash flows expected to be collected at acquisition | 49,557 | 695,430 | 65,370 | ||||||||||||||||||||||
Accretable yield | (6,971 | ) | (98,487 | ) | (11,945 | ) | |||||||||||||||||||
Fair value of acquired loans at acquisition | $ | 42,586 | $ | 596,943 | $ | 53,425 | |||||||||||||||||||
Covered_Loans_Tables
Covered Loans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Composition of Covered Loans by Lending Classification | ' | ||||||||||||||||
The composition of covered loans by lending classification was as follows: | |||||||||||||||||
At December 31, 2013 | |||||||||||||||||
Loans Accounted for | Loans excluded from | ||||||||||||||||
Under ASC 310-30 | ASC 310-30 (1) | ||||||||||||||||
(Purchased Credit | (Not Purchased Credit | Total Covered | |||||||||||||||
(dollars in thousands) | Impaired) | Impaired) | Purchased Loans | ||||||||||||||
Commercial | $ | 12,281 | $ | 17,054 | $ | 29,335 | |||||||||||
Commercial real estate | 77,232 | 4,696 | 81,928 | ||||||||||||||
Residential | 27,704 | 149 | 27,853 | ||||||||||||||
Consumer | 17,673 | 61,043 | 78,716 | ||||||||||||||
Covered loans | 134,890 | 82,942 | 217,832 | ||||||||||||||
Allowance for loan losses | (3,852 | ) | (1,552 | ) | (5,404 | ) | |||||||||||
Covered loans, net | $ | 131,038 | $ | 81,390 | $ | 212,428 | |||||||||||
-1 | Includes loans with revolving privileges which are scoped out of FASB ASC Topic 310-30 and certain loans which Old National elected to treat under the cost recovery method of accounting. | ||||||||||||||||
Schedule of Acquired Impaired Loans | ' | ||||||||||||||||
The following table is a roll-forward of acquired impaired loans accounted for under ASC 310-30 for 2013: | |||||||||||||||||
Contractual | Nonaccretable | Accretable | Carrying | ||||||||||||||
(dollars in thousands) | Cash Flows (1) | Difference | Yield | Amount (2) | |||||||||||||
Balance at January 1, 2013 | $ | 424,527 | $ | (90,996 | ) | $ | (85,779 | ) | $ | 247,752 | |||||||
Principal reductions and interest payments | (144,512 | ) | — | — | (144,512 | ) | |||||||||||
Accretion of loan discount | — | — | 35,363 | 35,363 | |||||||||||||
Changes in contractual and expected cash flows due to remeasurement | (20,242 | ) | 43,424 | (21,608 | ) | 1,574 | |||||||||||
Removals due to foreclosure or sale | (8,731 | ) | 779 | (1,187 | ) | (9,139 | ) | ||||||||||
Balance at December 31, 2013 | $ | 251,042 | $ | (46,793 | ) | $ | (73,211 | ) | $ | 131,038 | |||||||
-1 | The balance of contractual cash flows includes future contractual interest and is net of amounts charged off and interest collected on nonaccrual loans. | ||||||||||||||||
-2 | Carrying amount for this table is net of allowance for loan losses. | ||||||||||||||||
The following table is a roll-forward of acquired impaired loans accounted for under ASC 310-30 for 2012: | |||||||||||||||||
Contractual | Nonaccretable | Accretable | Carrying | ||||||||||||||
(dollars in thousands) | Cash Flows (1) | Difference | Yield | Amount (2) | |||||||||||||
Balance at January 1, 2012 | $ | 729,496 | $ | (180,655 | ) | $ | (92,053 | ) | $ | 456,788 | |||||||
Principal reductions and interest payments | (235,249 | ) | — | — | (235,249 | ) | |||||||||||
Accretion of loan discount | — | — | 52,173 | 52,173 | |||||||||||||
Changes in contractual and expected cash flows due to remeasurement | (37,921 | ) | 76,757 | (45,539 | ) | (6,703 | ) | ||||||||||
Removals due to foreclosure or sale | (31,799 | ) | 12,902 | (360 | ) | (19,257 | ) | ||||||||||
Balance at December 31, 2012 | $ | 424,527 | $ | (90,996 | ) | $ | (85,779 | ) | $ | 247,752 | |||||||
-1 | The balance of contractual cash flows includes future contractual interest and is net of amounts charged off and interest collected on nonaccrual loans. | ||||||||||||||||
-2 | Carrying amount for this table is net of allowance for loan losses. | ||||||||||||||||
Schedule of Accretable Yield, or Income Expected to be Collected | ' | ||||||||||||||||
Accretable yield, or income expected to be collected on the covered loans accounted for under ASC 310-30, is as follows: | |||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||
Balance at January 1, | $ | 85,779 | $ | 92,053 | |||||||||||||
New loans purchased | — | — | |||||||||||||||
Accretion of income | (35,363 | ) | (52,173 | ) | |||||||||||||
Reclassifications from (to) nonaccretable difference | 21,608 | 45,539 | |||||||||||||||
Disposals/other adjustments | 1,187 | 360 | |||||||||||||||
Balance at December 31, | $ | 73,211 | $ | 85,779 | |||||||||||||
Summary of FDIC Loss Sharing Asset | ' | ||||||||||||||||
The following table shows a detailed analysis of the FDIC loss sharing asset for the twelve months ended December 31, 2013 and 2012: | |||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||
Balance at January 1, | $ | 116,624 | $ | 168,881 | |||||||||||||
Adjustments not reflected in income | |||||||||||||||||
Established through acquisitions | — | — | |||||||||||||||
Cash received from the FDIC | (19,527 | ) | (48,223 | ) | |||||||||||||
Other | 704 | (659 | ) | ||||||||||||||
Adjustments reflected in income | |||||||||||||||||
(Amortization) accretion | (10,072 | ) | (13,128 | ) | |||||||||||||
Impairment | 32 | 1,069 | |||||||||||||||
Write-downs/sale of other real estate | 1,933 | 12,637 | |||||||||||||||
Recovery amounts due to FDIC | (1,243 | ) | (3,223 | ) | |||||||||||||
Other | 62 | (730 | ) | ||||||||||||||
Balance at December 31, | $ | 88,513 | $ | 116,624 | |||||||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Carrying Amount for Other Real Estate Owned | ' | ||||||||
The following table shows the carrying amount for other real estate owned at December 31, 2013 and 2012: | |||||||||
Other Real Estate | Other Real Estate | ||||||||
(dollars in thousands) | Owned (1) | Owned, Covered | |||||||
Balance, January 1, 2013 | $ | 11,179 | $ | 26,137 | |||||
Additions | 7,278 | 6,368 | |||||||
Sales | (9,316 | ) | (14,813 | ) | |||||
Gains (losses)/Write-downs | (1,579 | ) | (4,022 | ) | |||||
Balance, December 31, 2013 | $ | 7,562 | $ | 13,670 | |||||
-1 | Includes $0.3 million of repossessed personal property at December 31, 2013. | ||||||||
Other Real Estate | Other Real Estate | ||||||||
(dollars in thousands) | Owned (1) | Owned, Covered | |||||||
Balance, January 1, 2012 | $ | 7,119 | $ | 30,443 | |||||
Acquired | 6,111 | — | |||||||
Additions | 11,559 | 21,249 | |||||||
Sales | (10,723 | ) | (9,805 | ) | |||||
Gains (losses)/Write-downs | (2,887 | ) | (15,750 | ) | |||||
Balance, December 31, 2012 | $ | 11,179 | $ | 26,137 | |||||
-1 | Includes $0.5 million of repossessed personal property at December 31, 2012. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||||||
The following table shows the changes in the carrying amount of goodwill by segment for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||
Wealth | |||||||||||||||||||||
(dollars in thousands) | Banking | Insurance | Management | Other | Total | ||||||||||||||||
Balance, January 1, 2013 | $ | 297,055 | $ | 39,873 | $ | 1,892 | $ | — | $ | 338,820 | |||||||||||
Goodwill acquired during the period | 13,909 | — | — | — | 13,909 | ||||||||||||||||
Balance, December 31, 2013 | $ | 310,964 | $ | 39,873 | $ | 1,892 | $ | — | $ | 352,729 | |||||||||||
Balance, January 1, 2012 | $ | 212,412 | $ | 39,873 | $ | 892 | $ | — | $ | 253,177 | |||||||||||
Goodwill acquired during the period | 84,643 | — | 1,000 | — | 85,643 | ||||||||||||||||
Balance, December 31, 2012 | $ | 297,055 | $ | 39,873 | $ | 1,892 | $ | — | $ | 338,820 | |||||||||||
Schedule of Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets | ' | ||||||||||||||||||||
The gross carrying amounts and accumulated amortization of other intangible assets at December 31, 2013 and 2012 was as follows: | |||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||||||
(dollars in thousands) | Amount | Amortization | Amount | ||||||||||||||||||
2013 | |||||||||||||||||||||
Amortized intangible assets: | |||||||||||||||||||||
Core deposit | $ | 44,021 | $ | (31,266 | ) | $ | 12,755 | ||||||||||||||
Customer business relationships | 27,848 | (19,826 | ) | 8,022 | |||||||||||||||||
Customer trust relationships | 5,352 | (1,810 | ) | 3,542 | |||||||||||||||||
Customer loan relationships | 4,413 | (2,775 | ) | 1,638 | |||||||||||||||||
Total intangible assets | $ | 81,634 | $ | (55,677 | ) | $ | 25,957 | ||||||||||||||
2012 | |||||||||||||||||||||
Amortized intangible assets: | |||||||||||||||||||||
Core deposit | $ | 40,559 | $ | (25,908 | ) | $ | 14,651 | ||||||||||||||
Customer business relationships | 26,411 | (18,153 | ) | 8,258 | |||||||||||||||||
Customer trust relationships | 5,352 | (1,080 | ) | 4,272 | |||||||||||||||||
Customer loan relationships | 4,413 | (2,374 | ) | 2,039 | |||||||||||||||||
Total intangible assets | $ | 76,735 | $ | (47,515 | ) | $ | 29,220 | ||||||||||||||
Schedule of Estimated Amortization Expense for Future Years | ' | ||||||||||||||||||||
Estimated amortization expense for the future years is as follows: | |||||||||||||||||||||
Estimated | |||||||||||||||||||||
Amortization | |||||||||||||||||||||
(dollars in thousands) | Expense | ||||||||||||||||||||
2014 | $ | 6,872 | |||||||||||||||||||
2015 | 5,610 | ||||||||||||||||||||
2016 | 4,539 | ||||||||||||||||||||
2017 | 3,145 | ||||||||||||||||||||
2018 | 2,178 | ||||||||||||||||||||
Thereafter | 3,613 | ||||||||||||||||||||
Total | $ | 25,957 | |||||||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
Schedule of Maturities of Total Time Deposits | ' | ||||
At December 31, 2013, the scheduled maturities of total time deposits were as follows: | |||||
(dollars in thousands) | |||||
Due in 2014 | $ | 587,412 | |||
Due in 2015 | 182,542 | ||||
Due in 2016 | 145,331 | ||||
Due in 2017 | 37,575 | ||||
Due in 2018 | 35,681 | ||||
Thereafter | 29,434 | ||||
Total | $ | 1,017,975 | |||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Short-Term Borrowings and Weighted-Average Interest Rates | ' | ||||||||||||||||
The following table presents the distribution of Old National’s short-term borrowings and related weighted-average interest rates for each of the years ended December 31: | |||||||||||||||||
Other | |||||||||||||||||
Federal Funds | Repurchase | Short-term | |||||||||||||||
(dollars in thousands) | Purchased | Agreements | Borrowings | Total | |||||||||||||
2013 | |||||||||||||||||
Outstanding at year-end | $ | 115,103 | $ | 347,229 | $ | — | $ | 462,332 | |||||||||
Average amount outstanding | 176,033 | 341,620 | — | 517,653 | |||||||||||||
Maximum amount outstanding at any month-end | 466,861 | 425,191 | — | ||||||||||||||
Weighted average interest rate: | |||||||||||||||||
During year | 0.22 | % | 0.07 | % | — | % | 0.12 | % | |||||||||
End of year | 0.2 | 0.05 | — | 0.09 | |||||||||||||
2012 | |||||||||||||||||
Outstanding at year-end | $ | 231,688 | $ | 358,127 | $ | — | $ | 589,815 | |||||||||
Average amount outstanding | 89,697 | 324,215 | 9 | 413,921 | |||||||||||||
Maximum amount outstanding at any month-end | 251,363 | 361,490 | — | ||||||||||||||
Weighted average interest rate: | |||||||||||||||||
During year | 0.17 | % | 0.12 | % | 7.51 | % | 0.13 | % | |||||||||
End of year | 0.18 | 0.1 | — | 0.13 | |||||||||||||
Financing_Activities_Tables
Financing Activities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Other Borrowings | ' | ||||||||
The following table summarizes Old National and its subsidiaries’ other borrowings at December 31: | |||||||||
(dollars in thousands) | 2013 | 2012 | |||||||
Old National Bancorp: | |||||||||
Junior subordinated debentures (variable rates 1.84% to 1.99%) maturing March 2035 to June 2037 | $ | 28,000 | $ | 28,000 | |||||
ASC 815 fair value hedge and other basis adjustments | (3,262 | ) | (3,339 | ) | |||||
Old National Bank: | |||||||||
Securities sold under agreements to repurchase (fixed rates 2.47% to 2.50%) maturing January 2017 to January 2018 | 50,000 | 50,000 | |||||||
Federal Home Loan Bank advances (fixed rates 0.15% to 8.34% and variable rates 0.32% to 0.36%) maturing January 2014 to January 2023 | 477,856 | 155,323 | |||||||
Capital lease obligation | 4,157 | 4,211 | |||||||
ASC 815 fair value hedge and other basis adjustments | (363 | ) | 3,298 | ||||||
Total other borrowings | $ | 556,388 | $ | 237,493 | |||||
Contractual Maturities of Long-Term Debt | ' | ||||||||
Contractual maturities of long-term debt at December 31, 2013, were as follows: | |||||||||
(dollars in thousands) | |||||||||
Due in 2014 | $ | 175,757 | |||||||
Due in 2015 | 63 | ||||||||
Due in 2016 | 117,395 | ||||||||
Due in 2017 | 46,041 | ||||||||
Due in 2018 | 45,672 | ||||||||
Thereafter | 175,085 | ||||||||
ASC 815 fair value hedge and other basis adjustments | (3,625 | ) | |||||||
Total | $ | 556,388 | |||||||
Future Minimum Lease Payments under Capital Lease | ' | ||||||||
At December 31, 2013, the future minimum lease payments under the capital lease were as follows: | |||||||||
(dollars in thousands) | |||||||||
2014 | $ | 410 | |||||||
2015 | 410 | ||||||||
2016 | 410 | ||||||||
2017 | 410 | ||||||||
2018 | 410 | ||||||||
Thereafter | 9,264 | ||||||||
Total minimum lease payments | 11,314 | ||||||||
Less amounts representing interest | 7,157 | ||||||||
Present value of net minimum lease payments | $ | 4,157 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Summary of Differences in Taxes Computed at Statutory Rate | ' | ||||||||||||
Following is a summary of the major items comprising the differences in taxes computed at the federal statutory tax rate and as recorded in the consolidated statement of income for the years ended December 31: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Provision at statutory rate of 35% | $ | 49,881 | $ | 44,725 | $ | 34,917 | |||||||
Tax-exempt income: | |||||||||||||
Tax-exempt interest | (10,125 | ) | (8,590 | ) | (8,035 | ) | |||||||
Section 291/265 interest disallowance | 107 | 147 | 213 | ||||||||||
Bank owned life insurance income | (2,609 | ) | (2,258 | ) | (1,863 | ) | |||||||
Tax-exempt income | (12,627 | ) | (10,701 | ) | (9,685 | ) | |||||||
Reserve for unrecognized tax benefits | (381 | ) | (292 | ) | (623 | ) | |||||||
State income taxes | 3,386 | 3,409 | 3,188 | ||||||||||
State statutory rate change | 1,257 | — | — | ||||||||||
Other, net | 81 | (1,031 | ) | (495 | ) | ||||||||
Income tax expense | $ | 41,597 | $ | 36,110 | $ | 27,302 | |||||||
Effective tax rate | 29.2 | % | 28.3 | % | 27.4 | % | |||||||
Provision for Deferred Income Taxes | ' | ||||||||||||
The provision for income taxes consisted of the following components for the years ended December 31: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income taxes currently payable | |||||||||||||
Federal | $ | 13,901 | $ | 21,015 | $ | 6,742 | |||||||
State | (51 | ) | 1,975 | 288 | |||||||||
Deferred income taxes related to: | |||||||||||||
Federal | 22,983 | 11,052 | 17,422 | ||||||||||
State | 4,764 | 2,068 | 2,850 | ||||||||||
Deferred income tax expense | 27,747 | 13,120 | 20,272 | ||||||||||
Provision for income taxes | $ | 41,597 | $ | 36,110 | $ | 27,302 | |||||||
Schedule of Significant Components of Net Deferred Tax Assets (Liabilities) | ' | ||||||||||||
Significant components of net deferred tax assets (liabilities) were as follows at December 31: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||
Deferred Tax Assets | |||||||||||||
Allowance for loan losses, net of recapture | $ | 16,891 | $ | 20,861 | |||||||||
Benefit plan accruals | 15,331 | 18,389 | |||||||||||
AMT credit | 21,268 | 23,029 | |||||||||||
Unrealized losses on benefit plans | 4,011 | 8,347 | |||||||||||
Net operating loss carryforwards | 3,763 | 5,135 | |||||||||||
Premises and equipment | 24,221 | 30,790 | |||||||||||
Federal tax credits | 422 | — | |||||||||||
Other-than-temporary-impairment | 4,939 | 7,546 | |||||||||||
Loans - ASC 310 | 51,546 | 90,516 | |||||||||||
Other real estate owned | — | 8,715 | |||||||||||
Lease exit obligation | 2,654 | 1,232 | |||||||||||
Unrealized losses on available-for-sale investment securities | 13,276 | — | |||||||||||
Unrealized losses on held-to-maturity investment securities | 8,567 | — | |||||||||||
Unrealized losses on hedges | 116 | — | |||||||||||
Other, net | 5,406 | 5,415 | |||||||||||
Total deferred tax assets | 172,411 | 219,975 | |||||||||||
Deferred Tax Liabilities | |||||||||||||
Accretion on investment securities | (438 | ) | (590 | ) | |||||||||
Lease receivable, net | (395 | ) | (3,757 | ) | |||||||||
Other real estate owned | (701 | ) | — | ||||||||||
Purchase accounting | (7,355 | ) | (6,737 | ) | |||||||||
FDIC indemnification asset | (27,938 | ) | (64,152 | ) | |||||||||
Unrealized gains on available-for-sale investment securities | — | (24,972 | ) | ||||||||||
Unrealized gains on held-to-maturity securities | — | (2,177 | ) | ||||||||||
Other, net | (2,028 | ) | (1,274 | ) | |||||||||
Total deferred tax liabilities | (38,855 | ) | (103,659 | ) | |||||||||
Net deferred tax assets | $ | 133,556 | $ | 116,316 | |||||||||
Summary of Reconciliation of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at January 1 | $ | 3,953 | $ | 4,145 | $ | 4,553 | |||||||
Additions based on tax positions related to the current year | 34 | 2 | 4 | ||||||||||
Reductions due to statute of limitations expiring | (140 | ) | (194 | ) | (412 | ) | |||||||
Balance at December 31 | $ | 3,847 | $ | 3,953 | $ | 4,145 | |||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||
Summary of Defined Benefit Plans Combined Activity | ' | ||||||||||||||||||
The following table presents the combined activity of our defined benefit plans: | |||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||||||||
Change in Projected Benefit Obligation | |||||||||||||||||||
Balance at January 1 | $ | 48,728 | $ | 46,553 | |||||||||||||||
Interest cost | 1,740 | 1,971 | |||||||||||||||||
Benefits paid | (942 | ) | (893 | ) | |||||||||||||||
Actuarial loss | (3,783 | ) | 3,697 | ||||||||||||||||
Settlement | (4,422 | ) | (2,600 | ) | |||||||||||||||
Projected Benefit Obligation at December 31 | 41,321 | 48,728 | |||||||||||||||||
Change in Plan Assets | |||||||||||||||||||
Fair value at January 1 | 37,550 | 36,339 | |||||||||||||||||
Actual return on plan assets | 5,320 | 4,140 | |||||||||||||||||
Employer contributions | 410 | 564 | |||||||||||||||||
Benefits paid | (942 | ) | (893 | ) | |||||||||||||||
Settlement | (4,422 | ) | (2,600 | ) | |||||||||||||||
Fair value of Plan Assets at December 31 | 37,916 | 37,550 | |||||||||||||||||
Funded status at December 31 | (3,405 | ) | (11,178 | ) | |||||||||||||||
Amounts recognized in the statement of financial position at December 31: | |||||||||||||||||||
Accrued benefit liability | $ | (3,405 | ) | $ | (11,178 | ) | |||||||||||||
Net amount recognized | $ | (3,405 | ) | $ | (11,178 | ) | |||||||||||||
Amounts recognized in accumulated other comprehensive income at December 31: | |||||||||||||||||||
Net actuarial loss | $ | 10,530 | $ | 20,868 | |||||||||||||||
Total | $ | 10,530 | $ | 20,868 | |||||||||||||||
Schedule of Net Periodic Benefit Cost | ' | ||||||||||||||||||
The net periodic benefit cost and its components were as follows for the years ended December 31: | |||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||||
Interest cost | $ | 1,740 | $ | 1,971 | $ | 2,099 | |||||||||||||
Expected return on plan assets | (2,202 | ) | (2,345 | ) | (2,704 | ) | |||||||||||||
Recognized actuarial loss | 2,318 | 4,027 | 2,755 | ||||||||||||||||
Net periodic benefit cost | $ | 1,856 | $ | 3,653 | $ | 2,150 | |||||||||||||
Settlement cost | 1,118 | 1,170 | 1,539 | ||||||||||||||||
Total net periodic benefit cost | $ | 2,974 | $ | 4,823 | $ | 3,689 | |||||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income | |||||||||||||||||||
Net actuarial (gain)/loss | $ | (6,901 | ) | $ | 1,903 | $ | 9,172 | ||||||||||||
Amortization of net actuarial loss | (2,318 | ) | (4,027 | ) | (2,755 | ) | |||||||||||||
Settlement cost | (1,118 | ) | (1,170 | ) | (1,539 | ) | |||||||||||||
Total recognized in Other Comprehensive Income | $ | (10,337 | ) | $ | (3,294 | ) | $ | 4,878 | |||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (7,363 | ) | $ | 1,529 | $ | 8,567 | ||||||||||||
Schedule of Assumptions Used in Determining the Benefit Obligations and Net Periodic Benefit Cost | ' | ||||||||||||||||||
The weighted-average assumptions used to determine the benefit obligations as of the end of the years indicated and the net periodic benefit cost for the years indicated are presented in the table below. Because the plans are frozen, increases in compensation are not considered. | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Benefit obligations: | |||||||||||||||||||
Discount rate at the end of the period | 4.75 | % | 4 | % | 4.55 | % | |||||||||||||
Net periodic benefit cost: | |||||||||||||||||||
Discount rate at the beginning of the period | 4 | % | 4.55 | % | 5.5 | % | |||||||||||||
Expected return on plan assets | 7.5 | 7.5 | 8 | ||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | ||||||||||||||||
Schedule of Asset Allocation of Retirement Plan | ' | ||||||||||||||||||
Old National’s asset allocation of the Retirement Plan as of year-end is presented in the following table. Old National’s Restoration Plan is unfunded. | |||||||||||||||||||
Expected | 2013 | ||||||||||||||||||
Asset Category | Long-Term | Target | 2013 | 2012 | 2011 | ||||||||||||||
Rate of Return | Allocation | ||||||||||||||||||
Equity securities | 9.00% - 9.50% | 40 -70 | % | 64 | % | 61 | % | 61 | % | ||||||||||
Debt securities | 4.00% - 5.85% | 30 -60 | % | 35 | 38 | 34 | |||||||||||||
Cash equivalents | — | 0 -15 | % | 1 | 1 | 5 | |||||||||||||
Total | 100 | % | 100 | % | 100 | % | |||||||||||||
Schedule of Pension Plan Assets at Fair Value | ' | ||||||||||||||||||
The fair value of our plan assets are determined based on observable level 1 or 2 pricing inputs, including quoted prices for similar assets in active or non-active markets. The holdings of the plan are comprised of pooled separate accounts, except for one mutual fund in the Fixed Income category. As of December 31, 2013, the fair value of plan assets, by asset category, is as follows: | |||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||
Significant | |||||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Plan Assets | |||||||||||||||||||
Large U.S. Equity | $ | 16,245 | $ | — | $ | 16,245 | $ | — | |||||||||||
International Equity | 8,120 | — | 8,120 | — | |||||||||||||||
Short-Term Fixed Income | 102 | — | 102 | — | |||||||||||||||
Fixed Income | 13,449 | 13,449 | — | — | |||||||||||||||
Total Plan Assets | $ | 37,916 | $ | 13,449 | $ | 24,467 | $ | — | |||||||||||
As of December 31, 2012, the fair value of plan assets, by asset category, was as follows: | |||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||
Significant | |||||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Plan Assets | |||||||||||||||||||
Large U.S. Equity | $ | 14,979 | $ | — | $ | 14,979 | $ | — | |||||||||||
International Equity | 7,979 | — | 7,979 | — | |||||||||||||||
Short-Term Fixed Income | 461 | — | 461 | — | |||||||||||||||
Fixed Income | 14,131 | 14,131 | — | — | |||||||||||||||
Total Plan Assets | $ | 37,550 | $ | 14,131 | $ | 23,419 | $ | — | |||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||||
As of December 31, 2013, expected future benefit payments related to Old National’s defined benefit plans were as follows: | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||
2014 | $ | 8,800 | |||||||||||||||||
2015 | 4,030 | ||||||||||||||||||
2016 | 3,530 | ||||||||||||||||||
2017 | 4,360 | ||||||||||||||||||
2018 | 2,622 | ||||||||||||||||||
Years 2019 - 2023 | 14,200 | ||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Changes in the Nonvested Restricted Stock Units | ' | ||||||||||||||||
A summary of changes in our nonvested shares for the year follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant-Date | ||||||||||||||||
(shares in thousands) | Outstanding | Fair Value | |||||||||||||||
Nonvested balance at January 1, 2013 | 189 | $ | 11.79 | ||||||||||||||
Granted during the year | 84 | 13.04 | |||||||||||||||
Vested during the year | (99 | ) | 11.76 | ||||||||||||||
Forfeited during the year | (2 | ) | 10.61 | ||||||||||||||
Nonvested balance at December 31, 2013 | 172 | $ | 12.44 | ||||||||||||||
Summary of Changes in the Nonvested Restricted Shares | ' | ||||||||||||||||
A summary of changes in our nonvested shares for the year follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant-Date | ||||||||||||||||
(shares in thousands) | Outstanding | Fair Value | |||||||||||||||
Nonvested balance at January 1, 2013 | 536 | $ | 12.24 | ||||||||||||||
Granted during the year | 295 | 11.84 | |||||||||||||||
Vested during the year | (110 | ) | 12.33 | ||||||||||||||
Forfeited during the year | (32 | ) | 15.11 | ||||||||||||||
Reinvested dividend equivalents | 22 | 11.26 | |||||||||||||||
Nonvested balance at December 31, 2013 | 711 | $ | 11.87 | ||||||||||||||
Summary of the Activity in the Stock Option Plan | ' | ||||||||||||||||
A summary of the activity in the stock option plan for 2013 follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted | Average | Aggregate | |||||||||||||||
Average | Remaining | Intrinsic | |||||||||||||||
Exercise | Contractual | Value | |||||||||||||||
(shares in thousands) | Shares | Price | Term in Years | (in thousands) | |||||||||||||
Outstanding, January 1 | 3,371 | $ | 18.91 | ||||||||||||||
Granted | — | — | |||||||||||||||
Acquired | — | — | |||||||||||||||
Exercised | (99 | ) | 11.68 | ||||||||||||||
Forfeited/expired | (1,928 | ) | 20.64 | ||||||||||||||
Outstanding, December 31 | 1,344 | $ | 16.96 | 2.66 | $ | 845.6 | |||||||||||
Options exercisable at end of year | 1,344 | $ | 16.96 | 2.66 | $ | 845.6 | |||||||||||
Schedule of Information Related to the Stock Option Plan | ' | ||||||||||||||||
Information related to the stock option plan during each year follows: | |||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||||||
Intrinsic value of options exercised | $ | 282 | $ | 256 | $ | 175 | |||||||||||
Cash received from option exercises | 1,159 | 716 | 140 | ||||||||||||||
Tax benefit realized from option exercises | 45 | 72 | — |
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis | ' | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which we have elected the fair value option, are summarized below: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Assets | |||||||||||||||||
Trading securities | $ | 3,566 | $ | 3,566 | $ | — | $ | — | |||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury | 13,113 | 13,113 | — | — | |||||||||||||
U.S. Government-sponsored entities and agencies | 435,588 | — | 435,588 | — | |||||||||||||
Mortgage-backed securities—Agency | 1,289,258 | — | 1,289,258 | — | |||||||||||||
Mortgage-backed securities—Non-agency | 17,412 | — | 17,412 | — | |||||||||||||
States and political subdivisions | 268,795 | — | 268,126 | 669 | |||||||||||||
Pooled trust preferred securities | 8,037 | — | — | 8,037 | |||||||||||||
Other securities | 339,988 | 31,254 | 308,734 | — | |||||||||||||
Residential loans held for sale | 7,705 | — | 7,705 | — | |||||||||||||
Derivative assets | 22,087 | — | 22,087 | — | |||||||||||||
Financial Liabilities | |||||||||||||||||
Derivative liabilities | 19,723 | — | 19,723 | — | |||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Assets | |||||||||||||||||
Trading securities | $ | 3,097 | $ | 3,097 | $ | — | $ | — | |||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury | 11,841 | 11,841 | — | — | |||||||||||||
U.S. Government-sponsored entities and agencies | 517,325 | — | 517,325 | — | |||||||||||||
Mortgage-backed securities—Agency | 1,163,788 | — | 1,163,788 | — | |||||||||||||
Mortgage-backed securities—Non-agency | 30,196 | — | 30,196 | — | |||||||||||||
States and political subdivisions | 577,324 | — | 576,340 | 984 | |||||||||||||
Pooled trust preferred securities | 9,359 | — | — | 9,359 | |||||||||||||
Other securities | 190,951 | 32,762 | 158,189 | — | |||||||||||||
Residential loans held for sale | 12,591 | — | 12,591 | — | |||||||||||||
Derivative assets | 36,512 | — | 36,512 | — | |||||||||||||
Financial Liabilities | |||||||||||||||||
Derivative liabilities | 30,010 | — | 30,010 | — | |||||||||||||
Reconciliation of All Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ||||||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2013: | |||||||||||||||||
Fair Value Measurements using | |||||||||||||||||
Significant Unobservable Inputs | |||||||||||||||||
(Level 3) | |||||||||||||||||
Pooled Trust Preferred | State and | ||||||||||||||||
Securities Available- | Political | ||||||||||||||||
(dollars in thousands) | for-Sale | Subdivisions | |||||||||||||||
Beginning balance, January 1, 2013 | $ | 9,359 | $ | 984 | |||||||||||||
Accretion/(amortization) of discount or premium | 17 | 5 | |||||||||||||||
Sales/payments received | (2,929 | ) | — | ||||||||||||||
Matured securities | — | (320 | ) | ||||||||||||||
Credit loss write-downs | (1,000 | ) | — | ||||||||||||||
Increase/(decrease) in fair value of securities | 2,590 | — | |||||||||||||||
Ending balance, December 31, 2013 | $ | 8,037 | $ | 669 | |||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2012: | |||||||||||||||||
Fair Value Measurements using | |||||||||||||||||
Significant Unobservable Inputs | |||||||||||||||||
(Level 3) | |||||||||||||||||
Pooled Trust Preferred | State and | ||||||||||||||||
Securities Available- | Political | ||||||||||||||||
(dollars in thousands) | for-Sale | Subdivisions | |||||||||||||||
Beginning balance, January 1, 2012 | $ | 7,327 | $ | 1,306 | |||||||||||||
Accretion/(amortization) of discount or premium | 17 | 7 | |||||||||||||||
Payments received | (87 | ) | — | ||||||||||||||
Matured securities | — | (329 | ) | ||||||||||||||
Increase/(decrease) in fair value of securities | (476 | ) | — | ||||||||||||||
Transfer in at December 31 | 2,578 | — | |||||||||||||||
Ending balance, December 31, 2012 | $ | 9,359 | $ | 984 | |||||||||||||
Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements | ' | ||||||||||||||||
The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 of the fair value hierarchy: | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Fair Value at | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(dollars in thousands) | Dec. 31, 2013 | Techniques | Input | Average) | |||||||||||||
Pooled trust preferred securities | $ | 8,037 | Discounted cash flow | Constant prepayment rate (a) | 0.00% | ||||||||||||
Additional asset defaults (b) | 1.9% – 9.6% (4.5%) | ||||||||||||||||
Expected asset recoveries (c) | 1.7% – 9.6% (3.2%) | ||||||||||||||||
State and political subdivision securities | 669 | Discounted cash flow | No unobservable inputs | NA | |||||||||||||
Illiquid local municipality issuance | |||||||||||||||||
Old National owns 100% | |||||||||||||||||
Carried at par | |||||||||||||||||
(a) | Assuming no prepayments. | ||||||||||||||||
(b) | Each currently performing pool asset is assigned a default probability based on the banking environment, which is adjusted for specific issuer evaluation, of 0%, 50% or 100%. | ||||||||||||||||
(c) | Each currently defaulted pool asset is assigned a recovery probability based on specific issuer evaluation of 0%, 25% or 100%. | ||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Fair Value at | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(dollars in thousands) | Dec. 31, 2013 | Techniques | Input | Average) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 9,224 | Fair value of | Discount for type of property, | 0% – 75% (24%) | ||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Commercial real estate loans | 7,851 | Fair value of | Discount for type of property, | 10% – 54% (30%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 9,069 | Fair value of | Discount for type of property, | 10% – 40% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Residential | 283 | Fair value of | Discount for type of property, | 10% – 45% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Fair Value at | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(dollars in thousands) | Dec. 31, 2012 | Techniques | Input | Average) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 14,159 | Fair value of | Discount for type of property, | 0% – 50% (25%) | ||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Commercial real estate loans | 13,111 | Fair value of | Discount for type of property, | 10% – 40% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 24,032 | Fair value of | Discount for type of property, | 10% – 40% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Residential | 471 | Fair value of | Discount for type of property, | 10% – 45% (25%) | |||||||||||||
collateral | age of appraisal and current | ||||||||||||||||
status | |||||||||||||||||
Assets Measured at Fair Value on a Non-Recurring Basis | ' | ||||||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 9,224 | — | — | $ | 9,224 | |||||||||||
Commercial real estate loans | 7,851 | — | — | 7,851 | |||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 9,069 | — | — | 9,069 | |||||||||||||
Residential | 283 | — | — | 283 | |||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Collateral Dependent Impaired Loans | |||||||||||||||||
Commercial loans | $ | 14,159 | — | — | $ | 14,159 | |||||||||||
Commercial real estate loans | 13,111 | — | — | 13,111 | |||||||||||||
Foreclosed Assets | |||||||||||||||||
Commercial real estate | 24,032 | — | — | 24,032 | |||||||||||||
Residential | 471 | — | — | 471 | |||||||||||||
Schedule of Difference Between the Aggregate Fair Value and the Aggregate Remaining Principal Balance | ' | ||||||||||||||||
As of December 31, 2013, the difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected is as follows. Accrued interest at period end is included in the fair value of the instruments. | |||||||||||||||||
Aggregate | Contractual | ||||||||||||||||
(dollars in thousands) | Fair Value | Difference | Principal | ||||||||||||||
Residential loans held for sale | $ | 7,705 | $ | 128 | $ | 7,577 | |||||||||||
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value for the twelve months ended December 31, 2013: | |||||||||||||||||
Changes in Fair Value for the Twelve Months ended December 31, 2013, for Items | |||||||||||||||||
Measured at Fair Value Pursuant to Election of the Fair Value Option | |||||||||||||||||
Total Changes | |||||||||||||||||
in Fair Values | |||||||||||||||||
Other | Included in | ||||||||||||||||
Gains and | Interest | Interest | Current Period | ||||||||||||||
(dollars in thousands) | (Losses) | Income | (Expense) | Earnings | |||||||||||||
Residential loans held for sale | $ | (224 | ) | $ | — | $ | (2 | ) | $ | (226 | ) | ||||||
As of December 31, 2012, the difference between the aggregate fair value and the aggregate remaining principal balance for loans for which the fair value option has been elected was as follows. Accrued interest at period end is included in the fair value of the instruments. | |||||||||||||||||
Aggregate | Contractual | ||||||||||||||||
(dollars in thousands) | Fair Value | Difference | Principal | ||||||||||||||
Residential loans held for sale | $ | 12,591 | $ | 354 | $ | 12,237 | |||||||||||
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value for the twelve months ended December 31, 2012: | |||||||||||||||||
Changes in Fair Value for the Twelve Months ended December 31, 2012, for Items | |||||||||||||||||
Measured at Fair Value Pursuant to Election of the Fair Value Option | |||||||||||||||||
Total Changes | |||||||||||||||||
in Fair Values | |||||||||||||||||
Other | Included in | ||||||||||||||||
Gains and | Interest | Interest | Current Period | ||||||||||||||
(dollars in thousands) | (Losses) | Income | (Expense) | Earnings | |||||||||||||
Residential loans held for sale | $ | 253 | $ | 2 | $ | — | $ | 255 | |||||||||
Carrying Amounts and Estimated Fair Values of Financial Instruments, Not Previously Presented | ' | ||||||||||||||||
The carrying amounts and estimated fair values of financial instruments, not previously presented in this note, at December 31, 2013 and 2012, respectively, are as follows: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||
Significant | |||||||||||||||||
Quoted Prices in | Other | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Carrying | Identical Assets | Inputs | Inputs | ||||||||||||||
(dollars in thousands) | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
December 31, 2013 | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash, due from banks, federal funds sold and money market investments | $ | 206,723 | $ | 206,723 | $ | — | $ | — | |||||||||
Investment securities held-to-maturity: | |||||||||||||||||
U.S. Government-sponsored entities and agencies | 170,621 | — | 178,370 | — | |||||||||||||
Mortgage-backed securities—Agency | 35,443 | — | 36,349 | — | |||||||||||||
State and political subdivisions | 556,607 | — | 566,039 | — | |||||||||||||
Federal Home Loan Bank stock | 40,584 | — | 40,584 | — | |||||||||||||
Loans, net (including covered loans): | |||||||||||||||||
Commercial | 1,386,185 | — | — | 1,414,184 | |||||||||||||
Commercial real estate | 1,220,417 | — | — | 1,273,070 | |||||||||||||
Residential real estate | 1,384,183 | — | — | 1,475,710 | |||||||||||||
Consumer credit | 1,045,034 | — | — | 1,058,021 | |||||||||||||
FDIC indemnification asset | 88,513 | — | — | 55,368 | |||||||||||||
Accrued interest receivable | 50,205 | 42 | 20,708 | 29,455 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits: | |||||||||||||||||
Noninterest-bearing demand deposits | $ | 2,026,490 | $ | 2,026,490 | $ | — | $ | — | |||||||||
NOW, savings and money market deposits | 4,166,438 | 4,166,438 | — | — | |||||||||||||
Time deposits | 1,017,975 | — | 1,028,043 | — | |||||||||||||
Short-term borrowings: | |||||||||||||||||
Federal funds purchased | 115,103 | 115,103 | — | — | |||||||||||||
Repurchase agreements | 347,229 | 347,226 | — | — | |||||||||||||
Other borrowings: | |||||||||||||||||
Junior subordinated debenture | 28,000 | — | 17,605 | — | |||||||||||||
Repurchase agreements | 50,000 | — | 52,633 | — | |||||||||||||
Federal Home Loan Bank advances | 447,856 | — | — | 485,759 | |||||||||||||
Capital lease obligation | 4,157 | — | 5,245 | — | |||||||||||||
Accrued interest payable | 1,877 | — | 1,877 | — | |||||||||||||
Standby letters of credit | 380 | — | — | 380 | |||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | — | $ | — | $ | — | $ | 1,648 | |||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||
(dollars in thousands) | Carrying | Quoted Prices in | Significant | Significant | |||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||
(Level 2) | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash, due from banks, federal funds sold and money market investments | $ | 264,060 | $ | 264,060 | $ | — | $ | — | |||||||||
Investment securities held-to-maturity: | |||||||||||||||||
U.S. Government-sponsored entities and agencies | 173,936 | — | 188,263 | — | |||||||||||||
Mortgage-backed securities—Agency | 56,612 | — | 58,919 | — | |||||||||||||
State and political subdivisions | 169,282 | — | 183,021 | — | |||||||||||||
Other securities | 2,998 | — | 2,998 | — | |||||||||||||
Federal Home Loan Bank stock | 37,927 | — | 37,927 | — | |||||||||||||
Loans, net (including covered loans): | |||||||||||||||||
Commercial | 1,377,817 | — | — | 1,424,103 | |||||||||||||
Commercial real estate | 1,407,420 | — | — | 1,475,066 | |||||||||||||
Residential real estate | 1,356,922 | — | — | 1,458,672 | |||||||||||||
Consumer credit | 999,672 | — | — | 1,030,990 | |||||||||||||
FDIC indemnification asset | 116,624 | — | — | 106,976 | |||||||||||||
Accrued interest receivable | 46,979 | 43 | 20,701 | 26,235 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits: | |||||||||||||||||
Noninterest-bearing demand deposits | $ | 2,007,770 | $ | 2,007,770 | $ | — | $ | — | |||||||||
NOW, savings and money market deposits | 3,989,902 | 3,989,902 | — | — | |||||||||||||
Time deposits | 1,281,281 | — | 1,308,111 | — | |||||||||||||
Short-term borrowings: | |||||||||||||||||
Federal funds purchased | 231,688 | 231,688 | — | — | |||||||||||||
Repurchase agreements | 358,127 | 358,123 | — | — | |||||||||||||
Other borrowings: | |||||||||||||||||
Junior subordinated debenture | 28,000 | — | 16,255 | — | |||||||||||||
Repurchase agreements | 50,000 | — | 53,422 | — | |||||||||||||
Federal Home Loan Bank advances | 155,323 | — | — | 170,664 | |||||||||||||
Capital lease obligation | 4,211 | — | 5,657 | — | |||||||||||||
Accrued interest payable | 3,308 | — | 3,308 | — | |||||||||||||
Standby letters of credit | 357 | — | — | 357 | |||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | — | $ | — | $ | — | $ | 2,305 |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||
Summary of Fair Value of Derivative Financial Instruments | ' | ||||||||||||
The following tables summarize the fair value of derivative financial instruments utilized by Old National: | |||||||||||||
Asset Derivatives | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
(dollars in thousands) | Balance Sheet | Fair | Balance Sheet | Fair | |||||||||
Location | Value | Location | Value | ||||||||||
Derivatives designated as hedging instruments | |||||||||||||
Interest rate contracts | Other assets | $ | 3,545 | Other assets | $ | 6,458 | |||||||
Total derivatives designated as hedging instruments | $ | 3,545 | $ | 6,458 | |||||||||
Derivatives not designated as hedging instruments | |||||||||||||
Interest rate contracts | Other assets | $ | 18,279 | Other assets | $ | 29,475 | |||||||
Mortgage contracts | Other assets | 263 | Other assets | 579 | |||||||||
Total derivatives not designated as hedging instruments | $ | 18,542 | $ | 30,054 | |||||||||
Total derivatives | $ | 22,087 | $ | 36,512 | |||||||||
Liability Derivatives | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Balance | Balance | ||||||||||||
Sheet | Fair | Sheet | Fair | ||||||||||
(dollars in thousands) | Location | Value | Location | Value | |||||||||
Derivatives designated as hedging instruments | |||||||||||||
Interest rate contracts | Other liabilities | $ | 1,218 | Other liabilities | $ | — | |||||||
Total derivatives designated as hedging instruments | $ | 1,218 | $ | — | |||||||||
Derivatives not designated as hedging instruments | |||||||||||||
Interest rate contracts | Other liabilities | $ | 18,505 | Other liabilities | $ | 29,909 | |||||||
Mortgage contracts | Other liabilities | — | Other liabilities | 101 | |||||||||
Total derivatives not designated as hedging instruments | $ | 18,505 | $ | 30,010 | |||||||||
Total derivatives | $ | 19,723 | $ | 30,010 | |||||||||
Schedule of Effect of Derivative Instruments on the Consolidated Statements of Income | ' | ||||||||||||
The effect of derivative instruments on the Consolidated Statement of Income for the twelve months ended December 31, 2013 and 2012 are as follows: | |||||||||||||
Year ended | Year ended | ||||||||||||
(dollars in thousands) | December 31, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||
Derivatives in | Location of Gain or (Loss) | Amount of Gain or (Loss) | |||||||||||
Fair Value Hedging | Recognized in Income on | Recognized in Income on | |||||||||||
Relationships | Derivative | Derivative | |||||||||||
Interest rate contracts (1) | Interest income / (expense) | $ | 1,748 | $ | 2,114 | ||||||||
Interest rate contracts (2) | Other income / (expense) | (33 | ) | 677 | |||||||||
Total | $ | 1,715 | $ | 2,791 | |||||||||
Derivatives in | Location of Gain or (Loss) | Amount of Gain or (Loss) | |||||||||||
Cash Flow Hedging | Recognized in Income on | Recognized in Income on | |||||||||||
Relationships | Derivative | Derivative | |||||||||||
Interest rate contracts (1) | Interest income / (expense) | $ | — | $ | 241 | ||||||||
Total | $ | — | $ | 241 | |||||||||
Derivatives Not Designated as | Location of Gain or (Loss) | Amount of Gain or (Loss) | |||||||||||
Hedging Instruments | Recognized in Income on | Recognized in Income on | |||||||||||
Derivative | Derivative | ||||||||||||
Interest rate contracts (3) | Other income / (expense) | $ | 209 | $ | 143 | ||||||||
Mortgage contracts | Mortgage banking revenue | (215 | ) | 261 | |||||||||
Total | $ | (6 | ) | $ | 404 | ||||||||
-1 | Amounts represent the net interest payments as stated in the contractual agreements. | ||||||||||||
-2 | Amounts represent ineffectiveness on derivatives designated as fair value hedges. | ||||||||||||
-3 | Includes the valuation differences between the customer and offsetting counterparty swaps. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Summary of Future Minimum Lease Commitments | ' | ||||
The following is a summary of future minimum lease commitments as of December 31, 2013: | |||||
(dollars in thousands) | |||||
2014 | $ | 31,365 | |||
2015 | 30,922 | ||||
2016 | 30,720 | ||||
2017 | 30,569 | ||||
2018 | 29,664 | ||||
Thereafter | 234,255 | ||||
Total | $ | 387,495 | |||
Regulatory_Restrictions_Tables
Regulatory Restrictions (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Capital Ratios | ' | ||||||||||||||||||||||||
The following table summarizes capital ratios for Old National and Old National Bank as of December 31: | |||||||||||||||||||||||||
For Capital | For Well | ||||||||||||||||||||||||
Actual | Adequacy Purposes | Capitalized Purposes | |||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | $ | 871,076 | 15.19 | % | $ | 458,717 | 8 | % | $ | N/A | N/A | % | |||||||||||||
Old National Bank | 720,313 | 12.67 | 454,685 | 8 | 568,356 | 10 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | 821,281 | 14.32 | 229,358 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 670,518 | 11.8 | 227,342 | 4 | 341,014 | 6 | |||||||||||||||||||
Tier 1 capital to average assets | |||||||||||||||||||||||||
Old National Bancorp | 821,281 | 8.92 | 368,092 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 670,518 | 7.35 | 364,793 | 4 | 455,992 | 5 | |||||||||||||||||||
2012 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | $ | 823,594 | 14.69 | % | $ | 448,390 | 8 | % | $ | N/A | N/A | % | |||||||||||||
Old National Bank | 732,081 | 13.14 | 445,574 | 8 | 556,968 | 10 | |||||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Old National Bancorp | 764,224 | 13.63 | 224,195 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 672,710 | 12.08 | 222,787 | 4 | 334,181 | 6 | |||||||||||||||||||
Tier 1 capital to average assets | |||||||||||||||||||||||||
Old National Bancorp | 764,224 | 8.53 | 358,493 | 4 | N/A | N/A | |||||||||||||||||||
Old National Bank | 672,710 | 7.57 | 355,633 | 4 | 444,541 | 5 | |||||||||||||||||||
Parent_Company_Financial_State1
Parent Company Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Balance Sheet | ' | ||||||||||||
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) | |||||||||||||
CONDENSED BALANCE SHEETS | |||||||||||||
December 31, | |||||||||||||
(dollars in thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Deposits in affiliate bank | $ | 75,637 | $ | 39,262 | |||||||||
Trading securities—at fair value | 3,566 | 3,097 | |||||||||||
Investment securities—available for sale | 2,025 | 1,826 | |||||||||||
Investment in affiliates: | |||||||||||||
Banking subsidiaries | 989,585 | 1,073,721 | |||||||||||
Non-banks | 42,706 | 43,067 | |||||||||||
Other assets | 103,423 | 85,540 | |||||||||||
Total assets | $ | 1,216,942 | $ | 1,246,513 | |||||||||
Liabilities and Shareholders’ Equity | |||||||||||||
Other liabilities | $ | 29,564 | $ | 27,287 | |||||||||
Other borrowings | 24,738 | 24,661 | |||||||||||
Shareholders’ equity | 1,162,640 | 1,194,565 | |||||||||||
Total liabilities and shareholders’ equity | $ | 1,216,942 | $ | 1,246,513 | |||||||||
Statement of Income | ' | ||||||||||||
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) | |||||||||||||
CONDENSED STATEMENTS OF INCOME | |||||||||||||
Years Ended December 31, | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends from affiliates | $ | 116,073 | $ | 53,042 | $ | 19,670 | |||||||
Net securities gains | 416 | 165 | 20 | ||||||||||
Other income | 1,864 | 1,710 | 1,372 | ||||||||||
Other income (loss) from affiliates | 138 | 153 | (1 | ) | |||||||||
Total income | 118,491 | 55,070 | 21,061 | ||||||||||
Expense | |||||||||||||
Interest on borrowings | 624 | 786 | 1,270 | ||||||||||
Other expenses | 11,228 | 14,270 | 9,572 | ||||||||||
Total expense | 11,852 | 15,056 | 10,842 | ||||||||||
Income before income taxes and equity in undistributed earnings of affiliates | 106,639 | 40,014 | 10,219 | ||||||||||
Income tax benefit | (4,044 | ) | (5,909 | ) | (3,819 | ) | |||||||
Income before equity in undistributed earnings of affiliates | 110,683 | 45,923 | 14,038 | ||||||||||
Equity in undistributed earnings of affiliates | (9,763 | ) | 45,752 | 58,422 | |||||||||
Net Income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Statement of Cash Flows | ' | ||||||||||||
OLD NATIONAL BANCORP (PARENT COMPANY ONLY) | |||||||||||||
CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||
Years Ended December 31, | |||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | ||||||||||
Cash Flows From Operating Activities | |||||||||||||
Net income | $ | 100,920 | $ | 91,675 | $ | 72,460 | |||||||
Adjustments to reconcile net income to cash provided by operating activities: | |||||||||||||
Depreciation | 8 | 15 | 31 | ||||||||||
Net securities (gains) losses | (416 | ) | (134 | ) | (20 | ) | |||||||
Stock compensation expense | 3,958 | 3,317 | 3,436 | ||||||||||
(Increase) decrease in other assets | (17,972 | ) | 9,056 | (4,927 | ) | ||||||||
(Decrease) increase in other liabilities | 3,095 | (496 | ) | 3,628 | |||||||||
Equity in undistributed earnings of affiliates | 9,763 | (45,752 | ) | (58,422 | ) | ||||||||
Total adjustments | (1,564 | ) | (33,994 | ) | (56,274 | ) | |||||||
Net cash flows provided by operating activities | 99,356 | 57,681 | 16,186 | ||||||||||
Cash Flows From Investing Activities | |||||||||||||
Cash and cash equivalents of acquisitions | — | 1 | 447 | ||||||||||
Purchases of investment securities | (53 | ) | (147 | ) | — | ||||||||
Proceeds from sales of investment securities available-for-sale | — | — | 1,081 | ||||||||||
Net payments from (advances to) affiliates | — | — | 18,886 | ||||||||||
Purchases of premises and equipment | (60 | ) | (173 | ) | — | ||||||||
Net cash flows provided by (used in) investing activities | (113 | ) | (319 | ) | 20,414 | ||||||||
Cash Flows From Financing Activities | |||||||||||||
Payments related to retirement of debt | — | (16,000 | ) | — | |||||||||
Cash dividends paid on common stock | (40,278 | ) | (34,657 | ) | (26,513 | ) | |||||||
Common stock repurchased | (24,292 | ) | (3,990 | ) | (1,526 | ) | |||||||
Common stock reissued under stock option, restricted stock and stock purchase plans | 1,412 | 717 | 140 | ||||||||||
Common stock issued | 290 | 254 | 222 | ||||||||||
Net cash flows provided by (used in) financing activities | (62,868 | ) | (53,676 | ) | (27,677 | ) | |||||||
Net increase (decrease) in cash and cash equivalents | 36,375 | 3,686 | 8,923 | ||||||||||
Cash and cash equivalents at beginning of period | 39,262 | 35,576 | 26,653 | ||||||||||
Cash and cash equivalents at end of period | $ | 75,637 | $ | 39,262 | $ | 35,576 | |||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedule of Financial Information Concerning Segments | ' | ||||||||||||||||||||
Selected business segment financial information as of and for the years ended December 31, 2013, 2012, and 2011 were as follows: | |||||||||||||||||||||
SEGMENT INFORMATION | |||||||||||||||||||||
Wealth | |||||||||||||||||||||
(dollars in thousands) | Banking | Insurance | Management | Other | Total | ||||||||||||||||
2013 | |||||||||||||||||||||
Net interest income | $ | 317,869 | $ | 15 | $ | 44 | $ | (504 | ) | $ | 317,424 | ||||||||||
Noninterest income | 119,795 | 38,657 | 24,158 | 2,148 | 184,758 | ||||||||||||||||
Noncash items: | |||||||||||||||||||||
Depreciation and software amortization | 12,060 | 142 | 22 | 299 | 12,523 | ||||||||||||||||
Provision for loan losses | (2,319 | ) | — | — | — | (2,319 | ) | ||||||||||||||
Amortization of intangibles | 5,759 | 1,673 | 730 | — | 8,162 | ||||||||||||||||
Income tax expense (benefit) | 43,114 | 1,052 | 1,375 | (3,944 | ) | 41,597 | |||||||||||||||
Segment profit | 102,097 | 1,925 | 2,168 | (5,270 | ) | 100,920 | |||||||||||||||
Segment assets | 9,431,228 | 65,328 | 15,121 | 70,067 | 9,581,744 | ||||||||||||||||
2012 | |||||||||||||||||||||
Net interest income | $ | 309,259 | $ | 21 | $ | 62 | $ | (585 | ) | $ | 308,757 | ||||||||||
Noninterest income | 129,202 | 36,732 | 22,208 | 1,674 | 189,816 | ||||||||||||||||
Noncash items: | |||||||||||||||||||||
Depreciation and software amortization | 11,837 | 271 | 32 | 964 | 13,104 | ||||||||||||||||
Provision for loan losses | 5,030 | — | — | — | 5,030 | ||||||||||||||||
Amortization of intangibles | 5,495 | 1,841 | 605 | — | 7,941 | ||||||||||||||||
Income tax expense (benefit) | 39,430 | 1,397 | 1,139 | (5,856 | ) | 36,110 | |||||||||||||||
Segment profit | 95,146 | 1,755 | 1,736 | (6,962 | ) | 91,675 | |||||||||||||||
Segment assets | 9,399,444 | 62,956 | 13,837 | 67,386 | 9,543,623 | ||||||||||||||||
2011 | |||||||||||||||||||||
Net interest income | $ | 274,063 | $ | 18 | $ | 77 | $ | (1,285 | ) | $ | 272,873 | ||||||||||
Noninterest income | 124,254 | 36,624 | 21,120 | 885 | 182,883 | ||||||||||||||||
Noncash items: | |||||||||||||||||||||
Depreciation and software amortization | 10,750 | 325 | 37 | 1,024 | 12,136 | ||||||||||||||||
Provision for loan losses | 7,473 | — | — | — | 7,473 | ||||||||||||||||
Amortization of intangibles | 6,570 | 1,785 | 474 | — | 8,829 | ||||||||||||||||
Income tax expense (benefit) | 30,222 | 1,208 | (253 | ) | (3,875 | ) | 27,302 | ||||||||||||||
Segment profit | 76,781 | 1,866 | (480 | ) | (5,707 | ) | 72,460 | ||||||||||||||
Segment assets | 8,472,196 | 62,321 | 14,910 | 60,256 | 8,609,683 | ||||||||||||||||
Interim_Financial_Data_Unaudit1
Interim Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Interim Financial Data | ' | ||||||||||||||||||||||||||||||||
The following table details the quarterly results of operations for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
INTERIM FINANCIAL DATA | |||||||||||||||||||||||||||||||||
(unaudited, dollars | Quarters Ended 2013 | Quarters Ended 2012 | |||||||||||||||||||||||||||||||
and shares in thousands, | December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
except per share data) | 31 | 30 | 30 | 31 | 31 | 30 | 30 | 31 | |||||||||||||||||||||||||
Interest income | $ | 86,132 | $ | 83,894 | $ | 85,682 | $ | 86,102 | $ | 92,400 | $ | 82,772 | $ | 85,264 | $ | 84,263 | |||||||||||||||||
Interest expense | 4,945 | 5,898 | 6,491 | 7,052 | 8,039 | 8,622 | 9,291 | 9,990 | |||||||||||||||||||||||||
Net interest income | 81,187 | 77,996 | 79,191 | 79,050 | 84,361 | 74,150 | 75,973 | 74,273 | |||||||||||||||||||||||||
Provision for loan losses | 2,253 | (1,724 | ) | (3,693 | ) | 845 | 2,181 | 400 | 393 | 2,056 | |||||||||||||||||||||||
Noninterest income | 44,444 | 47,755 | 46,244 | 46,315 | 51,274 | 40,867 | 48,542 | 49,133 | |||||||||||||||||||||||||
Noninterest expense | 88,227 | 96,658 | 86,916 | 90,183 | 99,425 | 89,019 | 86,027 | 91,287 | |||||||||||||||||||||||||
Income before income taxes | 35,151 | 30,817 | 42,212 | 34,337 | 34,029 | 25,598 | 38,095 | 30,063 | |||||||||||||||||||||||||
Income tax expense | 10,602 | 6,869 | 13,734 | 10,392 | 11,020 | 5,861 | 10,889 | 8,340 | |||||||||||||||||||||||||
Net income | $ | 24,549 | $ | 23,948 | $ | 28,478 | $ | 23,945 | $ | 23,009 | $ | 19,737 | $ | 27,206 | $ | 21,723 | |||||||||||||||||
Net income per share : | |||||||||||||||||||||||||||||||||
Basic | $ | 0.24 | $ | 0.24 | $ | 0.28 | $ | 0.24 | $ | 0.23 | $ | 0.2 | $ | 0.29 | $ | 0.23 | |||||||||||||||||
Diluted | 0.25 | 0.23 | 0.28 | 0.24 | 0.23 | 0.2 | 0.29 | 0.23 | |||||||||||||||||||||||||
Average shares | |||||||||||||||||||||||||||||||||
Basic | 100,153 | 100,645 | 100,981 | 101,081 | 101,069 | 95,690 | 94,514 | 94,445 | |||||||||||||||||||||||||
Diluted | 100,718 | 101,131 | 101,352 | 101,547 | 101,550 | 96,125 | 94,871 | 94,833 | |||||||||||||||||||||||||
Basis_of_Presentation_and_Sign3
Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||
Share data in Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jul. 29, 2011 | Dec. 31, 2013 | Jul. 29, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 15, 2012 | Jan. 02, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Losses up to $275.0 [Member] | Losses up to $275.0 [Member] | Losses in Excess of $467.2 [Member] | Losses in Excess of $275.0 up to $467.2 [Member] | Losses in Excess of $275.0 up to $467.2 [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Indiana Community Bancorp [Member] | Monroe Bancorp [Member] | Integra Bank N.A. [Member] | Integra Bank N.A. [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Furniture and Equipment [Member] | Furniture and Equipment [Member] | ||||||||||||
Other Intangible Assets [Member] | Other Intangible Assets [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days past due for a loan be placed on nonaccrual status | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of months required for current loans to return to accrual status | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum value of small commercial loans on nonaccrual status or 90 days delinquent | ' | ' | ' | ' | ' | ' | ' | ' | $250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Days delinquent required for charge off | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Historical loss experience, number of relevant years | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful lives for premises and equipment, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | '39 years | '3 years | '10 years |
Finite-lived intangible asset, useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '7 years | '15 years | '25 years | ' | ' | ' | ' | ' | ' | ' | ' |
Company-owned life insurance | 275,121,000 | ' | ' | ' | 270,629,000 | ' | ' | ' | 275,121,000 | 270,629,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of foreclosed assets | 21,200,000 | ' | ' | ' | 37,300,000 | ' | ' | ' | 21,200,000 | 37,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Covered other real estate owned from acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,700,000 | 26,100,000 | ' | ' | ' | ' |
Maturity of short-term securities sold under agreements to repurchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 day | ' | '4 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days that FDIC will cover losses on loans and accrued interest on loans | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
80% reimbursement for loss on acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80 | ' | 80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss sharing agreements amount, 80% on assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 275,000,000 | 275,000,000 | 467,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Zero percent for losses on acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 467,200,000 | 467,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage covered up to $467.2 million | 0.00% | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage covered in excess of $467.2 million | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years for loss sharing provisions for commercial mortgage loans | '5 years | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years for loss sharing provisions for single family residential mortgage loans | '10 years | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years loss recovery provisions are in effect from acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | 'July 29, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years for loss recovery provisions for commercial mortgage loans | '8 years | ' | ' | ' | ' | ' | ' | ' | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years for loss recovery provisions for single family residential mortgage loans | '10 years | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of the indemnification asset | 88,500,000 | ' | ' | ' | 116,600,000 | ' | ' | ' | 88,500,000 | 116,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit recorded | 10,602,000 | 6,869,000 | 13,734,000 | 10,392,000 | 11,020,000 | 5,861,000 | 10,889,000 | 8,340,000 | 41,597,000 | 36,110,000 | 27,302,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for interest | ' | ' | ' | ' | ' | ' | ' | ' | 25,800,000 | 38,400,000 | 59,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 11,800,000 | 24,200,000 | 4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans transferred to loans held-for-sale | ' | ' | ' | ' | ' | ' | ' | ' | 102,800,000 | 1,700,000 | 5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer of portfolio leases from held-for-sale | ' | ' | ' | ' | ' | ' | ' | ' | 11,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer of securities from available-for-sale to held-to-maturity portfolio | ' | ' | ' | ' | ' | ' | ' | ' | 357,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer of securities from held-to-maturity portfolio to available-for-sale portfolio | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued in acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.6 | 7.6 | ' | ' | ' | ' | ' | ' |
Value of shares issued in acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $88,500,000 | $90,100,000 | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Sign4
Basis of Presentation and Significant Accounting Policies - Summary of Table Reconciling Basic and Diluted Net Income Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $24,549 | $23,948 | $28,478 | $23,945 | $23,009 | $19,737 | $27,206 | $21,723 | $100,920 | $91,675 | $72,460 |
Basic Earnings Per Share, Weighted average common shares outstanding | 100,153 | 100,645 | 100,981 | 101,081 | 101,069 | 95,690 | 94,514 | 94,445 | 100,712 | 96,440 | 94,467 |
Basic earnings per share | $0.24 | $0.24 | $0.28 | $0.24 | $0.23 | $0.20 | $0.29 | $0.23 | $1 | $0.95 | $0.76 |
Diluted Earnings Per Share, Net income | ' | ' | ' | ' | ' | ' | ' | ' | $100,920 | $91,675 | $72,460 |
Diluted Earnings Per Share, Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 100,712 | 96,440 | 94,467 |
Effect of dilutive securities: Restricted stock | ' | ' | ' | ' | ' | ' | ' | ' | 455 | 379 | 285 |
Effect of dilutive securities: Stock options | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 14 | 20 |
Diluted Earnings Per Share, Weighted average shares outstanding | 100,718 | 101,131 | 101,352 | 101,547 | 101,550 | 96,125 | 94,871 | 94,833 | 101,198 | 96,833 | 94,772 |
Diluted earnings per share | $0.25 | $0.23 | $0.28 | $0.24 | $0.23 | $0.20 | $0.29 | $0.23 | $1 | $0.95 | $0.76 |
Basis_of_Presentation_and_Sign5
Basis of Presentation and Significant Accounting Policies - Summary of Table Reconciling Basic and Diluted Net Income Per Share (Parenthetical) (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock [Member] | ' | ' | ' |
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in the computation of net income per diluted share | 0 | 6 | 6 |
Equity Option [Member] | ' | ' | ' |
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in the computation of net income per diluted share | 1,007 | 3,284 | 4,606 |
Acquisition_and_Divestiture_Ac2
Acquisition and Divestiture Activity - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||
Share data in Millions, except Per Share data, unless otherwise specified | Sep. 05, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Aug. 16, 2012 | Jul. 12, 2013 | Jul. 12, 2013 | Sep. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 12, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 10, 2013 | Sep. 05, 2013 | Dec. 31, 2013 | Jan. 08, 2014 | Jan. 06, 2014 |
Branch | Branch | Southern Illinois and Western Kentucky [Member] | Northern Indiana [Member] | Southwest Michigan [Member] | Indiana Community Bancorp [Member] | Indiana Community Bancorp [Member] | Indiana Community Bancorp [Member] | Bank of America [Member] | Bank of America [Member] | Bank of America [Member] | Tower Financial Corporation [Member] | Tower Financial Corporation [Member] | Tower Financial Corporation [Member] | United [Member] | United [Member] | United [Member] | |||
Branch | Branch | Branch | Branch | Core Deposit [Member] | Branch | Community Banking [Member] | Branch | Branch | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||
Core Deposit [Member] | |||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of interest acquired | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of branch locations | 3 | ' | ' | ' | 9 | 4 | 20 | 17 | ' | ' | 24 | ' | ' | 7 | ' | ' | 18 | ' | ' |
Number of shares issued in acquisition | ' | ' | ' | ' | ' | ' | ' | 6.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of shares issued in acquisition | ' | ' | ' | ' | ' | ' | ' | $88,500,000 | ' | ' | ' | ' | ' | ' | ' | $107,700,000 | ' | ' | $173,100,000 |
Net tangible assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | -732,000 | ' | ' | 16,097,000 | ' | ' | ' | ' | ' | ' | ' |
Definite-lived intangible assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 1,300,000 | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' |
Percentage of deposit premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.94% | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life of acquired identifiable intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | '7 years | ' | ' | ' | ' | ' | ' |
Assets under management | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 691,000,000 | ' | ' | 899,000,000 | ' | ' |
Additional assets under management | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 743,000,000 | ' | ' | 670,000,000 | ' | ' |
Portion of share received by merged entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | ' | ' | 0.7 | ' |
Consideration received in cash by merged entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.75 | ' | ' | $2.66 | ' |
Deposits held for sale | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposit premium | ' | 650,000 | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits to be included in transaction | ' | $28,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of banking center to be consolidated | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition_and_Divestiture_Ac3
Acquisition and Divestiture Activity - Schedule of Preliminary Purchase Price Allocation (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Business Acquisition [Line Items] | ' | ' | ' |
Federal Home Loan Bank stock, at cost | $40,584 | $37,927 | ' |
Loans | 5,035,819 | 5,141,831 | ' |
Deposits | -7,210,903 | -7,278,953 | ' |
Goodwill | 352,729 | 338,820 | 253,177 |
Indiana Community Bancorp [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Cash and cash equivalents | 78,540 | ' | ' |
Investment securities - available for sale | 147,710 | ' | ' |
Federal Home Loan Bank stock, at cost | 7,092 | ' | ' |
Loans | 497,434 | ' | ' |
Premises and equipment | 13,345 | ' | ' |
Accrued interest receivable | 2,165 | ' | ' |
Other real estate owned | 6,111 | ' | ' |
Company-owned life insurance | 15,833 | ' | ' |
Other assets | 49,655 | ' | ' |
Deposits | -784,589 | ' | ' |
Other borrowings | -15,464 | ' | ' |
Accrued expenses and other liabilities | -18,564 | ' | ' |
Net tangible assets acquired | -732 | ' | ' |
Definite-lived intangible assets acquired | 3,024 | ' | ' |
Goodwill | 86,205 | ' | ' |
Purchase price | 88,497 | ' | ' |
Bank of America [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Cash and cash equivalents | 562,906 | ' | ' |
Loans | 5,638 | ' | ' |
Premises and equipment | 12,559 | ' | ' |
Accrued interest receivable | 15 | ' | ' |
Other assets | 331 | ' | ' |
Deposits | -565,106 | ' | ' |
Accrued expenses and other liabilities | -246 | ' | ' |
Net tangible assets acquired | 16,097 | ' | ' |
Definite-lived intangible assets acquired | 3,462 | ' | ' |
Goodwill | 13,347 | ' | ' |
Purchase price | $32,906 | ' | ' |
Acquisition_and_Divestiture_Ac4
Acquisition and Divestiture Activity - Schedule of Components of Estimated Fair Value of Intangible Assets (Detail) (Indiana Community Bancorp [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Business Acquisition [Line Items] | ' |
Estimated Fair Value | $3 |
Core Deposit [Member] | ' |
Business Acquisition [Line Items] | ' |
Estimated Fair Value | 1.3 |
Estimated Useful Lives (Years) | '7 years |
Customer Trust Relationships [Member] | ' |
Business Acquisition [Line Items] | ' |
Estimated Fair Value | $1.70 |
Estimated Useful Lives (Years) | '12 years |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI, Beginning Balance | $29,801 | $15,004 | ' |
Other comprehensive income (loss) before reclassifications | -78,372 | 21,854 | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 4,105 | -7,057 | ' |
Net current-period other comprehensive income (loss) | -74,267 | 14,797 | 16,273 |
AOCI, Ending Balance | -44,466 | 29,801 | 15,004 |
Accumulated Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI, Beginning Balance | 39,054 | 24,612 | ' |
Other comprehensive income (loss) before reclassifications | -57,958 | 22,808 | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | -2,204 | -8,366 | ' |
Net current-period other comprehensive income (loss) | -60,162 | 14,442 | ' |
AOCI, Ending Balance | -21,108 | 39,054 | ' |
Accumulated Unrealized Gains Losses on Held-to-Maturity Securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI, Beginning Balance | 3,269 | 4,745 | ' |
Other comprehensive income (loss) before reclassifications | -20,224 | -954 | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 188 | -522 | ' |
Net current-period other comprehensive income (loss) | -20,036 | -1,476 | ' |
AOCI, Ending Balance | -16,767 | 3,269 | ' |
Accumulated Gains and Losses on Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI, Beginning Balance | ' | 145 | ' |
Other comprehensive income (loss) before reclassifications | -190 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | -145 | ' |
Net current-period other comprehensive income (loss) | -190 | -145 | ' |
AOCI, Ending Balance | -190 | ' | ' |
Accumulated Defined Benefit Pensions Plans [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
AOCI, Beginning Balance | -12,522 | -14,498 | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 6,121 | 1,976 | ' |
Net current-period other comprehensive income (loss) | 6,121 | 1,976 | ' |
AOCI, Ending Balance | ($6,401) | ($12,522) | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income/(expense) | $81,187 | $77,996 | $79,191 | $79,050 | $84,361 | $74,150 | $75,973 | $74,273 | $317,424 | $308,757 | $272,873 | ' | ' |
Net periodic pension cost | ' | ' | ' | ' | ' | ' | ' | ' | 7,363 | -1,529 | -8,567 | ' | ' |
Impairment losses | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 | -1,414 | -1,409 | -3,927 | -24,795 |
Tax (expense) or benefit | -10,602 | -6,869 | -13,734 | -10,392 | -11,020 | -5,861 | -10,889 | -8,340 | -41,597 | -36,110 | -27,302 | ' | ' |
Net Income | 24,549 | 23,948 | 28,478 | 23,945 | 23,009 | 19,737 | 27,206 | 21,723 | 100,920 | 91,675 | 72,460 | ' | ' |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | -4,105 | 7,057 | ' | ' | ' |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net securities gains | ' | ' | ' | ' | ' | ' | ' | ' | 4,341 | 15,052 | ' | ' | ' |
Impairment losses | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 | -1,414 | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 3,341 | 13,638 | ' | ' | ' |
Tax (expense) or benefit | ' | ' | ' | ' | ' | ' | ' | ' | -1,137 | -5,272 | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 2,204 | 8,366 | ' | ' | ' |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Unrealized Gains Losses on Held-to-Maturity Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income/(expense) | ' | ' | ' | ' | ' | ' | ' | ' | -225 | 870 | ' | ' | ' |
Tax (expense) or benefit | ' | ' | ' | ' | ' | ' | ' | ' | 37 | -348 | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | -188 | 522 | ' | ' | ' |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Gains and Losses on Cash Flow Hedges [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax (expense) or benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | -95 | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 145 | ' | ' | ' |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Gains and Losses on Cash Flow Hedges [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income/(expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 240 | ' | ' | ' |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Defined Benefit Pensions Plans [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net periodic pension cost | ' | ' | ' | ' | ' | ' | ' | ' | -10,337 | -3,294 | ' | ' | ' |
Tax (expense) or benefit | ' | ' | ' | ' | ' | ' | ' | ' | 4,216 | 1,318 | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ($6,121) | ($1,976) | ' | ' | ' |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Investment Securities Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | $2,406,283 | $2,436,769 |
Available-for-sale, Unrealized Gains | 31,900 | 83,895 |
Available-for-sale, Unrealized Losses | -65,982 | -19,880 |
Available-for-sale securities, Fair Value | 2,372,201 | 2,500,784 |
Held-to-maturity, Amortized Cost | 762,734 | 402,828 |
Held-to-maturity, Unrealized Gains | 19,604 | 30,373 |
Held-to-maturity, Unrealized Losses | -1,580 | ' |
Held-to-maturity, Fair Value | 780,758 | 433,201 |
U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 456,123 | 515,469 |
Available-for-sale, Unrealized Gains | 464 | 2,794 |
Available-for-sale, Unrealized Losses | -20,999 | -938 |
Available-for-sale securities, Fair Value | 435,588 | 517,325 |
Held-to-maturity, Amortized Cost | 170,621 | 173,936 |
Held-to-maturity, Unrealized Gains | 7,749 | 14,327 |
Held-to-maturity, Unrealized Losses | ' | ' |
Held-to-maturity, Fair Value | 178,370 | 188,263 |
Mortgage-backed Securities - Agency [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 1,300,135 | 1,130,991 |
Available-for-sale, Unrealized Gains | 15,690 | 33,244 |
Available-for-sale, Unrealized Losses | -26,567 | -447 |
Available-for-sale securities, Fair Value | 1,289,258 | 1,163,788 |
Held-to-maturity, Amortized Cost | 35,443 | 56,612 |
Held-to-maturity, Unrealized Gains | 906 | 2,307 |
Held-to-maturity, Unrealized Losses | -1 | ' |
Held-to-maturity, Fair Value | 36,348 | 58,919 |
States and Political Subdivisions [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 260,398 | 542,559 |
Available-for-sale, Unrealized Gains | 10,112 | 35,805 |
Available-for-sale, Unrealized Losses | -1,715 | -1,040 |
Available-for-sale securities, Fair Value | 268,795 | 577,324 |
Held-to-maturity, Amortized Cost | 556,670 | 169,282 |
Held-to-maturity, Unrealized Gains | 10,949 | 13,739 |
Held-to-maturity, Unrealized Losses | -1,579 | ' |
Held-to-maturity, Fair Value | 566,040 | 183,021 |
Other Securities [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 340,381 | 182,070 |
Available-for-sale, Unrealized Gains | 5,140 | 10,473 |
Available-for-sale, Unrealized Losses | -5,523 | -1,592 |
Available-for-sale securities, Fair Value | 339,988 | 190,951 |
Held-to-maturity, Amortized Cost | ' | 2,998 |
Held-to-maturity, Unrealized Gains | ' | ' |
Held-to-maturity, Unrealized Losses | ' | ' |
Held-to-maturity, Fair Value | ' | 2,998 |
U.S. Treasury [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 12,995 | 11,437 |
Available-for-sale, Unrealized Gains | 118 | 404 |
Available-for-sale, Unrealized Losses | ' | ' |
Available-for-sale securities, Fair Value | 13,113 | 11,841 |
Mortgage-Backed Securities - Non-Agency [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 17,036 | 29,359 |
Available-for-sale, Unrealized Gains | 376 | 1,175 |
Available-for-sale, Unrealized Losses | ' | -338 |
Available-for-sale securities, Fair Value | 17,412 | 30,196 |
Pooled Trust Preferred Securities [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 19,215 | 24,884 |
Available-for-sale, Unrealized Gains | ' | ' |
Available-for-sale, Unrealized Losses | -11,178 | -15,525 |
Available-for-sale securities, Fair Value | $8,037 | $9,359 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |
Security | Security | Minimum [Member] | Taxable Municipal Bonds [Member] | INDIANA | TEXAS | Calls By Issuers [Member] | Calls By Issuers [Member] | Former Directors and Executives of Monroe Bancorp [Member] | Former Directors and Executives of Monroe Bancorp [Member] | Pooled Trust Preferred Securities and Non Agency Mortgage Backed Securities [Member] | Pooled Trust Preferred Securities and Non Agency Mortgage Backed Securities [Member] | Pooled Trust Preferred Securities and Non Agency Mortgage Backed Securities [Member] | Pooled Trust Preferred Securities and Non Agency Mortgage Backed Securities [Member] | Mutual Funds [Member] | Mutual Funds [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Mortgage-Backed Securities - Non-Agency [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Trust Preferred Securities which are Not Subject to FASB ASC 325-10 [Member] | Trust Preferred Securities which are Not Subject to FASB ASC 325-10 [Member] | FASB ASC 325-10 (EITF 99-20) [Member] | ||||
Calls By Issuers [Member] | Calls By Issuers [Member] | Calls By Issuers [Member] | Security | Security | Investment Grade Range B To D [Member] | Investment Grade Rated Bb [Member] | Investment Grade Rated Ccc [Member] | Investment Grade Rated C [Member] | Investment Grade Rated D [Member] | Non-Agency [Member] | Security | Security | Security | Investment Grade Rated C [Member] | Investment Grade Rated D [Member] | Investment Grade Rated Cc [Member] | Remaining Security [Member] | Security | Security | Security | ||||||||||||||||||
Security | Security | Security | Security | Security | Collateralized Mortgage Obligations [Member] | Security | Security | Security | ||||||||||||||||||||||||||||||
Securities | ||||||||||||||||||||||||||||||||||||||
Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sales and calls of securities available for sale | ' | $231,800,000 | $227,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $546,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains on sales of securities available for sale | ' | 4,700,000 | 14,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,600,000 | ' | 800,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 224,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Pooled trust preferred security fair value | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | 172,600,000 | 148,600,000 | ' | ' | ' | ' | ' | ' | ' | 362,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | 30,200,000 | 8,000,000 | ' | 9,400,000 | ' | ' | ' | 501,000 | 6,900,000 | 5,500,000 | 3,900,000 |
Gains associated with trading securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 195,000 | 158,000 | 416,000 | 165,000 | 21,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of other-than-temporary impairment recognized in earnings | ' | 1,000,000 | 1,414,000 | 3,252,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,400,000 | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of securities with other-than-temporary impairment charges related to credit loss | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of trust preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 1 | ' | ' | ' | ' | ' | ' | 4 | ' | 6 | ' | ' | ' | ' | 2 | 2 | ' |
Losses on sales of securities available for sale | ' | 1,000,000 | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 186,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities pledged to secure public and other funds, carrying value | ' | 1,100,000,000 | 834,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading securities that consist of mutual funds | ' | 3,566,000 | 3,097,000 | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment securities issued by states and political subdivisions, market value | ' | ' | 273,800,000 | ' | ' | ' | ' | 297,300,000 | 136,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State and political subdivision investment, equity percentage | ' | ' | 22.90% | ' | ' | ' | ' | 25.60% | 11.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of municipal bonds rated A or better | ' | ' | ' | ' | ' | ' | ' | 97.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of non rated local interest bonds | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale portfolio transferred to held-to-maturity portfolio, fair value | 357,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding loss on available-for-sale portfolio transferred to held-to-maturity portfolio | 31,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Build America Bonds Amount from held-to-maturity to available-for-sale | ' | ' | ' | ' | 46,100,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of subsidy payments authorized for issuers | ' | ' | ' | ' | ' | ' | 7.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsidy payments authorized for issuers | ' | ' | ' | ' | ' | ' | 322,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Convertible Terms Of Conversion Feature | ' | 'Old National owned a significant number of premium BABs, largely classified as held-to-maturity securities, that would generate a loss if called at par. In response to this event and consistent with FASB ASC 320-10-25-6, Old National moved certain BABs from held-to-maturity to available-for-sale based on the following criteria: 1) BABS that were purchased at a premium; 2) BABS with a par value of $1.0 million or more (BABS with a par value below $1.0 million remained in held-to-maturity as, in managementbs opinion, they would not have a material negative impact on earnings if called at par). | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount below that Build America Bonds Remains to Held to Maturity | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of securities in security portfolio | ' | 1,337 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of securities in unrealized loss position | ' | 292 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of non-agency collateralized mortgage obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net unrealized gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available for sale securities other than temporary impairment losses | ' | 1,000,000 | 1,414,000 | 1,409,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of securities rated | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | 3 | ' | ' | ' | ' | 2 | 1 | 1 | ' | ' | ' | 4 |
Securities held as collateral, at fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 12,600,000 | 400,000 | 9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit losses recorded | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining fair value of non-agency mortgage backed securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net unrealized losses | ' | 65,982,000 | 19,880,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 338,000 | ' | ' | ' | ' | ' | ' | ' | 11,178,000 | ' | 15,525,000 | ' | ' | ' | ' | 7,300,000 | 8,800,000 | 6,700,000 |
Number of securities sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Other-than-temporary impairment losses on pooled trust preferred security | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' | $476,000 | ' | ' | ' | ' | ' | ' | ' |
Investment_Securities_Expected
Investment Securities - Expected Maturities of Investment Securities Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Available-for-sale, Maturity, Within one year, Amortized Cost | $23,839 | $30,284 |
Available-for-sale, Maturity, One to five years, Amortized Cost | 216,236 | 111,294 |
Available-for-sale, Maturity, Five to ten years, Amortized Cost | 534,720 | 651,094 |
Available-for-sale, Maturity, Beyond ten years, Amortized Cost | 1,631,488 | 1,644,097 |
Available-for-sale, Amortized Cost | 2,406,283 | 2,436,769 |
Held-to-maturity, Maturity, Within one year, Amortized Cost | 72 | 3,066 |
Held-to-maturity, Maturity, One to five years, Amortized Cost | 15,035 | 2,355 |
Held-to-maturity, Maturity, Five to ten years, Amortized Cost | 164,138 | 144,701 |
Held-to-maturity, Maturity, Beyond ten years, Amortized Cost | 583,489 | 252,706 |
Held-to-maturity, Amortized Cost | 762,734 | 402,828 |
Available-for-sale, Maturity, Within one year, Fair Value | 23,884 | 30,544 |
Available-for-sale, Maturity, One to five years, Fair Value | 222,293 | 116,982 |
Available-for-sale, Maturity, Five to ten years, Fair Value | 519,692 | 665,199 |
Available-for-sale, Maturity, Beyond ten years, Fair Value | 1,606,332 | 1,688,059 |
Available-for-sale securities, Fair Value | 2,372,201 | 2,500,784 |
Held-to-maturity, Maturity, Within one year, Fair Value | 73 | 3,066 |
Held-to-maturity, Maturity, One to five years, Fair Value | 15,757 | 2,427 |
Held-to-maturity, Maturity, Five to ten years, Fair Value | 169,345 | 153,882 |
Held-to-maturity, Maturity, Beyond ten years, Fair Value | 595,583 | 273,826 |
Held-to-maturity, Fair Value | $780,758 | $433,201 |
Available-for-sale, Maturity, Within one year, Weighted Average Yield | 3.52% | 3.19% |
Available-for-sale, Maturity, One to five years, Weighted Average Yield | 2.79% | 3.33% |
Available-for-sale, Maturity, Five to ten years, Weighted Average Yield | 2.39% | 2.48% |
Available-for-sale, Maturity, Beyond ten years, Weighted Average Yield | 2.46% | 3.17% |
Available-for-sale, Weighted Average Yield | 2.48% | 2.99% |
Held-to-maturity, Maturity, Within one year, Weighted Average Yield | 3.46% | 2.25% |
Held-to-maturity, Maturity, One to five years, Weighted Average Yield | 4.02% | 3.35% |
Held-to-maturity, Maturity, Five to ten years, Weighted Average Yield | 3.19% | 2.94% |
Held-to-maturity, Maturity, Beyond ten years, Weighted Average Yield | 5.56% | 4.48% |
Held-to-maturity, Weighted Average Yield | 5.02% | 3.90% |
Investment_Securities_Investme
Investment Securities - Investment Securities with Unrealized Losses by Aggregated Major Security Type and Length of Time in Continuous Unrealized Loss Position (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, Less than 12 Months, Fair Value | $1,282,703 | $352,292 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -45,328 | -2,587 |
Available-for-Sale, 12 months or longer, Fair Value | 115,119 | 21,713 |
Available-for-Sale, 12 months or longer, Unrealized Losses | -20,654 | -17,293 |
Available-for-Sale, Fair Value | 1,397,822 | 374,005 |
Available-for-Sale, Unrealized Losses | -65,982 | -19,880 |
Held-to-Maturity, Less than 12 Months, Fair Value | 91,532 | ' |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | -1,580 | ' |
Held-to-Maturity, 12 months or longer, Fair Value | ' | ' |
Held-to-Maturity, 12 months or longer, Unrealized Losses | ' | ' |
Held-to-maturity, Fair Value | 91,532 | ' |
Held-to-Maturity, Unrealized Losses | -1,580 | ' |
States and Political Subdivisions [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, Less than 12 Months, Fair Value | 45,077 | 63,311 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -1,620 | -1,040 |
Available-for-Sale, 12 months or longer, Fair Value | 2,812 | ' |
Available-for-Sale, 12 months or longer, Unrealized Losses | -95 | ' |
Available-for-Sale, Fair Value | 47,889 | 63,311 |
Available-for-Sale, Unrealized Losses | -1,715 | -1,040 |
Held-to-Maturity, Less than 12 Months, Fair Value | 70,162 | ' |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | -1,579 | ' |
Held-to-Maturity, 12 months or longer, Fair Value | ' | ' |
Held-to-Maturity, 12 months or longer, Unrealized Losses | ' | ' |
Held-to-maturity, Fair Value | 70,162 | ' |
Held-to-Maturity, Unrealized Losses | -1,579 | ' |
U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, Less than 12 Months, Fair Value | 357,793 | 201,151 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -17,547 | -938 |
Available-for-Sale, 12 months or longer, Fair Value | 38,988 | ' |
Available-for-Sale, 12 months or longer, Unrealized Losses | -3,452 | ' |
Available-for-Sale, Fair Value | 396,781 | 201,151 |
Available-for-Sale, Unrealized Losses | -20,999 | -938 |
Mortgage-backed Securities - Agency [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, Less than 12 Months, Fair Value | 668,018 | 64,213 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -23,455 | -447 |
Available-for-Sale, 12 months or longer, Fair Value | 41,200 | ' |
Available-for-Sale, 12 months or longer, Unrealized Losses | -3,112 | ' |
Available-for-Sale, Fair Value | 709,218 | 64,213 |
Available-for-Sale, Unrealized Losses | -26,567 | -447 |
Held-to-Maturity, Less than 12 Months, Fair Value | 21,370 | ' |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | -1 | ' |
Held-to-Maturity, 12 months or longer, Fair Value | ' | ' |
Held-to-Maturity, 12 months or longer, Unrealized Losses | ' | ' |
Held-to-maturity, Fair Value | 21,370 | ' |
Held-to-Maturity, Unrealized Losses | -1 | ' |
Mortgage-Backed Securities - Non-Agency [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, 12 months or longer, Fair Value | ' | 5,696 |
Available-for-Sale, 12 months or longer, Unrealized Losses | ' | -338 |
Available-for-Sale, Fair Value | ' | 5,696 |
Available-for-Sale, Unrealized Losses | ' | -338 |
Pooled Trust Preferred Securities [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, 12 months or longer, Fair Value | 8,037 | 9,359 |
Available-for-Sale, 12 months or longer, Unrealized Losses | -11,178 | -15,525 |
Available-for-Sale, Fair Value | 8,037 | 9,359 |
Available-for-Sale, Unrealized Losses | -11,178 | -15,525 |
Other Securities [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, Less than 12 Months, Fair Value | 209,915 | 23,617 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -2,706 | -162 |
Available-for-Sale, 12 months or longer, Fair Value | 24,082 | 6,658 |
Available-for-Sale, 12 months or longer, Unrealized Losses | -2,817 | -1,430 |
Available-for-Sale, Fair Value | 233,997 | 30,275 |
Available-for-Sale, Unrealized Losses | -5,523 | -1,592 |
U.S. Treasury [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-Sale, Less than 12 Months, Fair Value | 1,900 | ' |
Available-for-Sale, Fair Value | $1,900 | ' |
Investment_Securities_Pooled_T
Investment Securities - Pooled Trust Preferred Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Pooled Trust Preferred Securities One [Member] | Pooled Trust Preferred Securities One [Member] | Pooled Trust Preferred Securities One [Member] | Pooled Trust Preferred Securities One [Member] | Pooled Trust Preferred Securities One [Member] | Single Issuer Trust Preferred Securities [Member] | Single Issuer Trust Preferred Securities [Member] | Single Issuer Trust Preferred Securities [Member] | Single Issuer Trust Preferred Securities [Member] | Single Issuer Trust Preferred Securities [Member] | Single Issuer Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | ||
MM Community Funding IX [Member] | Reg Div Funding 2004 [Member] | Pretsl XII [Member] | Trapeza Ser 13A [Member] | First Empire Cap (M&T) [Member] | First Empire Cap (M&T) [Member] | Fleet Cap Tr V (BOA) [Member] | JP Morgan Chase Cap XIII [Member] | NB-Global [Member] | ||||||
Item | Item | Item | Item | |||||||||||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pooled trust preferred securities, Class | ' | ' | ' | 'B-2 | 'B-2 | 'B | 'A2A | ' | ' | ' | ' | ' | ' | ' |
Lowest Credit Rating | ' | ' | ' | 'D | 'D | 'CCC | 'B+ | ' | 'BB+ | 'BB+ | 'BB+ | 'BBB | 'BB+ | ' |
Amortized Cost | ' | ' | $19,215 | $1,067 | $4,012 | $4,711 | $9,425 | $12,712 | $959 | $2,912 | $3,373 | $4,734 | $734 | $31,927 |
Available-for-sale securities, Fair Value | 2,372,201 | 2,500,784 | 8,037 | 918 | 246 | 1,928 | 4,945 | 11,562 | 1,014 | 3,043 | 2,765 | 3,950 | 790 | 19,599 |
Available-for-sale, Unrealized Losses | ' | ' | -11,178 | -149 | -3,766 | -2,783 | -4,480 | -1,150 | 55 | 131 | -608 | -784 | 56 | -12,328 |
Realized Losses 2013 | ' | ' | $1,000 | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 |
# of Issuers Currently Performing | ' | ' | ' | 14 | 24 | 33 | 42 | ' | ' | ' | ' | ' | ' | ' |
# of Issuers Currently Remaining | ' | ' | ' | 27 | 43 | 47 | 61 | ' | ' | ' | ' | ' | ' | ' |
Actual Deferrals and Defaults as a Percent of Original Collateral | ' | ' | ' | 32.00% | 39.90% | 25.10% | 26.00% | ' | ' | ' | ' | ' | ' | ' |
Expected Defaults as a % of Remaining Performing Collateral | ' | ' | ' | ' | 5.40% | 18.30% | 15.60% | ' | ' | ' | ' | ' | ' | ' |
Excess Subordination as a % of Current Performing Collateral | ' | ' | ' | 0.00% | 0.00% | 31.50% | 43.80% | ' | ' | ' | ' | ' | ' | ' |
Investment_Securities_Securiti
Investment Securities - Securities with Other-than-Temporary-Impairment (Detail) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | $1,000 | $1,414 | $1,409 | $3,927 | $24,795 |
Life-to-date | 32,545 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Amortized Cost | 12,010 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 938 | 521 | 2,997 | 4,429 |
Life-to-date | 8,885 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | BAFC Ser 4 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2007 | ' | ' | ' | ' |
Lowest Credit Rating | 'CCC | ' | ' | ' | ' |
Amortized Cost | 9,517 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 299 | ' | 79 | 63 |
Life-to-date | 441 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | CWALT Ser 73CB [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2005 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 151 | ' | 207 | 83 |
Life-to-date | 441 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | CWALT Ser 73CB [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2005 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 35 | ' | 427 | 182 |
Life-to-date | 644 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | CWHL 2006-10 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2006 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | 309 | 762 |
Life-to-date | 1,071 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | CWHL 2005-20 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2005 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | 39 | 72 |
Life-to-date | 111 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | FHASI Ser 4 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2007 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | 340 | 629 | 223 |
Life-to-date | 1,192 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | HALO Ser 1R [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2006 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 133 | 16 | ' | ' |
Life-to-date | 149 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | RFMSI Ser S9 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2006 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | 923 | 1,880 |
Life-to-date | 2,803 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | RFMSI Ser S10 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2006 | ' | ' | ' | ' |
Lowest Credit Rating | 'D | ' | ' | ' | ' |
Amortized Cost | 2,493 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 178 | 165 | 76 | 249 |
Life-to-date | 668 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | RALI QS2 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2006 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | 278 | 739 |
Life-to-date | 1,017 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | RAST A9 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2004 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 142 | ' | ' | ' |
Life-to-date | 142 | ' | ' | ' | ' |
Non Agency Mortgage Backed Securities [Member] | RFMSI S1 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2006 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | 30 | 176 |
Life-to-date | 206 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Amortized Cost | 5,079 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | 1,000 | 476 | 888 | 930 | 20,366 |
Life-to-date | 23,660 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | TROPC [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2003 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | 888 | 444 | 3,517 |
Life-to-date | 4,849 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | MM Community Funding IX [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2003 | ' | ' | ' | ' |
Lowest Credit Rating | 'D | ' | ' | ' | ' |
Amortized Cost | 1,067 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | 1,000 | ' | ' | 165 | 2,612 |
Life-to-date | 3,777 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | Reg Div Funding 2004 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2004 | ' | ' | ' | ' |
Lowest Credit Rating | 'D | ' | ' | ' | ' |
Amortized Cost | 4,012 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 165 | ' | 321 | 5,199 |
Life-to-date | 5,685 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | Pretsl XII [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2003 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | ' | 1,897 |
Life-to-date | 1,897 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | Pretsl XV [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2004 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | ' | ' | ' | 3,374 |
Life-to-date | 3,374 | ' | ' | ' | ' |
Pooled Trust Preferred Securities [Member] | Reg Div Funding 2005 [Member] | ' | ' | ' | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' | ' | ' | ' |
Debt Issuance Year | '2005 | ' | ' | ' | ' |
Amount of other-than-temporary-impairment recognized in earnings | ' | 311 | ' | ' | 3,767 |
Life-to-date | $4,078 | ' | ' | ' | ' |
Loans_Held_for_Sale_Additional
Loans Held for Sale - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Minimum [Member] | Maximum [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Commercial and Commercial Real Estate [Member] | Commercial and Commercial Real Estate [Member] | ||||||
Servicing Assets at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Residential loans held for sale, at fair value | ' | ' | ' | $7,705,000 | $12,591,000 | ' | ' | ' | ' | ' | ' |
Commercial and residential real estate loans reclassified value held for sale | ' | ' | ' | ' | ' | ' | ' | 96,900,000 | ' | ' | ' |
Proceeds from held for sale | ' | ' | ' | ' | ' | ' | ' | 96,900,000 | ' | ' | ' |
Finance leases held for sale | 11,600,000 | ' | 11,600,000 | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gain loss on loans held for sale | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Loss recognized due to transfer of leases | 200,000 | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Average maturity of portfolio of leases held for sale | '2 years 8 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on portfolio of leases held for sale | ' | ' | ' | ' | ' | 3.57% | 10.22% | ' | ' | ' | ' |
Additional loss from sale of leases held for sale | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial and commercial real estate loans held for investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,900,000 | 1,700,000 |
Purchased impaired loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 1,500,000 |
Proceeds from sale of loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,100,000 | 2,400,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 100,000 |
Other noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' |
Income recognized on sale of loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | $400,000 | $800,000 |
Finance_Receivables_and_Allowa2
Finance Receivables and Allowance for Credit Losses - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Concentration of commercial loans in a single industry, maximum | 10.00% | ' |
Accrued interest coverage by FDIC, number of days | '90 days | ' |
Percentage covered up to $467.2 million | 0.00% | ' |
Number of years for loss sharing provisions for commercial mortgage loans | '5 years | ' |
Number of years for loss sharing provisions for single family residential mortgage loans | '10 years | ' |
Number of years for loss recovery provisions for commercial mortgage loans | '8 years | ' |
Number of years for loss recovery provisions for single family residential mortgage loans | '10 years | ' |
Date of acquisition | '2011-7-29 | ' |
Loan placed on nonaccrual when past due, number of days | '90 days | ' |
Number of months required for loan to return to accrual status | '6 months | ' |
Loan participations | $178,500,000 | ' |
Loan participations sold | 124,300,000 | ' |
Loan participations retained | 54,200,000 | ' |
troubled debt restructuring term | '6 months | ' |
Value of small commercial loans on nonaccrual status or 90 days or more delinquent | 250,000 | ' |
Minimum number of days for loan charge off to be recorded | '120 days | ' |
Maximum number of days for loan charge off to be recorded | '180 days | ' |
Nonaccrual period for loans | '90 days | ' |
Troubled debt restructurings | 48,900,000 | 32,100,000 |
Financing receivable TDR's included with non-accrual loans | 33,100,000 | 22,100,000 |
Financing receivable troubled debt restructurings specific reserves | 4,100,000 | 6,200,000 |
Charge-offs | 200,000 | 1,000,000 |
Increased allowance of loan losses | 100,000 | 1,000,000 |
Number of days for a loan to be considered to be in payment default | '90 days | ' |
Decreased allowance of loan losses subsequently defaulted | 0 | 500,000 |
Charge-offs TDR that subsequently defaulted | 100,000 | 500,000 |
Troubled debt restructuring modification payment delay | '90 days | ' |
Carrying value of revolving lines of credit loans not impaired | 4,000,000 | ' |
Outstanding noncovered loans including principal, interest, fees and penalties | 115,000,000 | 179,500,000 |
Accretion recorded as loan interest income | 16,800,000 | 11,500,000 |
Financing receivable allowance for loan losses related to purchased loans | 2,600,000 | 4,300,000 |
Maximum [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Value of small commercial loans on nonaccrual status or 90 days or more delinquent | 250,000 | ' |
Losses up to $275.0 [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loss sharing reimbursement threshold | 80.00% | ' |
Loss amount covered at 80% up to $275 million | 275,000,000 | ' |
Losses in Excess of $467.2 [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loss amount covered at 80% up to $275 million | 467,200,000 | ' |
Loss amount covered at 80% up to $467.2 million | 80.00% | ' |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Troubled debt restructurings | 22,500,000 | 12,700,000 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Troubled debt restructurings | 22,600,000 | 18,400,000 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Troubled debt restructurings | 1,400,000 | 500,000 |
Residential [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Troubled debt restructurings | $2,400,000 | $500,000 |
Finance_Receivables_and_Allowa3
Finance Receivables and Allowance for Credit Losses - Schedule of Composition of Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | $5,082,964 | $5,196,594 |
Allowance for loan losses | -41,741 | -49,047 |
Allowance for loan losses-covered loans | -5,404 | -5,716 |
Net loans | 5,035,819 | 5,141,831 |
Commercial Loan Including Finance Lease [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 1,373,415 | 1,336,820 |
Commercial Real Estate-Construction [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 88,630 | 99,081 |
Commercial Real Estate-Other [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 1,072,260 | 1,156,802 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 1,359,569 | 1,324,703 |
Consumer Credit Heloc [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 251,102 | 258,114 |
Consumer Loans Auto [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 620,473 | 526,085 |
Consumer Credit Other [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | 99,683 | 122,656 |
Covered Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans by lending classification | $217,832 | $372,333 |
Finance_Receivables_and_Allowa4
Finance Receivables and Allowance for Credit Losses - Schedule of Composition of Loans (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' |
Direct finance leases | $27.80 | $57.70 |
Finance_Receivables_and_Allowa5
Finance Receivables and Allowance for Credit Losses - Schedule of Activity in Related Party Loans (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Receivables [Abstract] | ' |
Beginning Balance | $13,975 |
New loans | 1,996 |
Repayments | -3,254 |
Officer and director changes | 33 |
Ending Balance | $12,750 |
Finance_Receivables_and_Allowa6
Finance Receivables and Allowance for Credit Losses - Schedule of Activity in Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | $49,047 | ' | ' | ' | ' | $49,047 | ' | ' |
Provision | 2,253 | -1,724 | -3,693 | 845 | 2,181 | 400 | 393 | 2,056 | -2,319 | 5,030 | 7,473 |
Ending balance | 41,741 | ' | ' | ' | 49,047 | ' | ' | ' | 41,741 | 49,047 | ' |
Commercial Loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | 14,642 | ' | ' | ' | 19,964 | 14,642 | 19,964 | 26,204 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -3,810 | -7,636 | -10,300 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 4,098 | 5,166 | 4,330 |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | 1,635 | -2,852 | -270 |
Ending balance | 16,565 | ' | ' | ' | 14,642 | ' | ' | ' | 16,565 | 14,642 | 19,964 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | 31,289 | ' | ' | ' | 26,993 | 31,289 | 26,993 | 32,654 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -5,427 | -4,386 | -12,319 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 2,963 | 5,104 | 2,302 |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | -6,424 | 3,578 | 4,356 |
Ending balance | 22,401 | ' | ' | ' | 31,289 | ' | ' | ' | 22,401 | 31,289 | 26,993 |
Consumer Loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | 5,155 | ' | ' | ' | 6,954 | 5,155 | 6,954 | 11,142 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -6,279 | -8,094 | -10,335 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 4,333 | 3,259 | 6,226 |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | 1,731 | 3,036 | -79 |
Ending balance | 4,940 | ' | ' | ' | 5,155 | ' | ' | ' | 4,940 | 5,155 | 6,954 |
Residential [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | 3,677 | ' | ' | ' | 4,149 | 3,677 | 4,149 | 2,309 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -1,487 | -2,204 | -1,945 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 310 | 464 | 319 |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | 739 | 1,268 | 3,466 |
Ending balance | 3,239 | ' | ' | ' | 3,677 | ' | ' | ' | 3,239 | 3,677 | 4,149 |
Unallocated [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable Allowance [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | 54,763 | ' | ' | ' | 58,060 | 54,763 | 58,060 | 72,309 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -17,003 | -22,320 | -34,899 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 11,704 | 13,993 | 13,177 |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | -2,319 | 5,030 | 7,473 |
Ending balance | $47,145 | ' | ' | ' | $54,763 | ' | ' | ' | $47,145 | $54,763 | $58,060 |
Finance_Receivables_and_Allowa7
Finance Receivables and Allowance for Credit Losses - Schedule of Recorded Investment in Financing Receivables (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for loan losses, Ending balance: individually evaluated for impairment | $8,346 | $7,492 |
Allowance for loan losses, Ending balance: collectively evaluated for impairment | 32,378 | 37,280 |
Allowance for loan losses, Ending balance: noncovered loans acquired with deteriorated credit quality | 2,569 | 4,275 |
Allowance for loan losses, Ending balance: covered loans acquired with deteriorated credit quality | 3,852 | 5,716 |
Total allowance for credit losses | 47,145 | 54,763 |
Loans and leases outstanding, Ending balance: individually evaluated for impairment | 69,210 | 77,237 |
Loans and leases outstanding, Ending balance: collectively evaluated for impairment | 4,841,719 | 4,788,210 |
Loans and leases outstanding, Ending balance: loans acquired with deteriorated credit quality | 37,145 | 83,395 |
Loans and leases outstanding, Ending balance: covered loans acquired with deteriorated credit quality | 134,890 | 247,752 |
Total loans | 5,082,964 | 5,196,594 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for loan losses, Ending balance: individually evaluated for impairment | 6,156 | 4,702 |
Allowance for loan losses, Ending balance: collectively evaluated for impairment | 9,980 | 9,900 |
Allowance for loan losses, Ending balance: noncovered loans acquired with deteriorated credit quality | 429 | 40 |
Allowance for loan losses, Ending balance: covered loans acquired with deteriorated credit quality | ' | ' |
Total allowance for credit losses | 16,565 | 14,642 |
Loans and leases outstanding, Ending balance: individually evaluated for impairment | 34,213 | 29,980 |
Loans and leases outstanding, Ending balance: collectively evaluated for impairment | 1,355,608 | 1,330,913 |
Loans and leases outstanding, Ending balance: loans acquired with deteriorated credit quality | 648 | 7,859 |
Loans and leases outstanding, Ending balance: covered loans acquired with deteriorated credit quality | 12,281 | 23,707 |
Total loans | 1,402,750 | 1,392,459 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for loan losses, Ending balance: individually evaluated for impairment | 2,190 | 2,790 |
Allowance for loan losses, Ending balance: collectively evaluated for impairment | 14,816 | 19,541 |
Allowance for loan losses, Ending balance: noncovered loans acquired with deteriorated credit quality | 2,025 | 4,060 |
Allowance for loan losses, Ending balance: covered loans acquired with deteriorated credit quality | 3,370 | 4,898 |
Total allowance for credit losses | 22,401 | 31,289 |
Loans and leases outstanding, Ending balance: individually evaluated for impairment | 34,997 | 47,257 |
Loans and leases outstanding, Ending balance: collectively evaluated for impairment | 1,106,971 | 1,175,830 |
Loans and leases outstanding, Ending balance: loans acquired with deteriorated credit quality | 23,618 | 52,981 |
Loans and leases outstanding, Ending balance: covered loans acquired with deteriorated credit quality | 77,232 | 162,641 |
Total loans | 1,242,818 | 1,438,709 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for loan losses, Ending balance: individually evaluated for impairment | ' | ' |
Allowance for loan losses, Ending balance: collectively evaluated for impairment | 4,494 | 4,202 |
Allowance for loan losses, Ending balance: noncovered loans acquired with deteriorated credit quality | 80 | 135 |
Allowance for loan losses, Ending balance: covered loans acquired with deteriorated credit quality | 366 | 818 |
Total allowance for credit losses | 4,940 | 5,155 |
Loans and leases outstanding, Ending balance: individually evaluated for impairment | ' | ' |
Loans and leases outstanding, Ending balance: collectively evaluated for impairment | 1,019,576 | 946,654 |
Loans and leases outstanding, Ending balance: loans acquired with deteriorated credit quality | 12,725 | 22,432 |
Loans and leases outstanding, Ending balance: covered loans acquired with deteriorated credit quality | 17,673 | 35,741 |
Total loans | 1,049,974 | 1,004,827 |
Residential [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for loan losses, Ending balance: individually evaluated for impairment | ' | ' |
Allowance for loan losses, Ending balance: collectively evaluated for impairment | 3,088 | 3,637 |
Allowance for loan losses, Ending balance: noncovered loans acquired with deteriorated credit quality | 35 | 40 |
Allowance for loan losses, Ending balance: covered loans acquired with deteriorated credit quality | 116 | ' |
Total allowance for credit losses | 3,239 | 3,677 |
Loans and leases outstanding, Ending balance: individually evaluated for impairment | ' | ' |
Loans and leases outstanding, Ending balance: collectively evaluated for impairment | 1,359,564 | 1,334,813 |
Loans and leases outstanding, Ending balance: loans acquired with deteriorated credit quality | 154 | 123 |
Loans and leases outstanding, Ending balance: covered loans acquired with deteriorated credit quality | 27,704 | 25,663 |
Total loans | 1,387,422 | 1,360,599 |
Unallocated [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for loan losses, Ending balance: individually evaluated for impairment | ' | ' |
Allowance for loan losses, Ending balance: collectively evaluated for impairment | ' | ' |
Allowance for loan losses, Ending balance: noncovered loans acquired with deteriorated credit quality | ' | ' |
Allowance for loan losses, Ending balance: covered loans acquired with deteriorated credit quality | ' | ' |
Total allowance for credit losses | ' | ' |
Loans and leases outstanding, Ending balance: individually evaluated for impairment | ' | ' |
Loans and leases outstanding, Ending balance: collectively evaluated for impairment | ' | ' |
Loans and leases outstanding, Ending balance: loans acquired with deteriorated credit quality | ' | ' |
Loans and leases outstanding, Ending balance: covered loans acquired with deteriorated credit quality | ' | ' |
Total loans | ' | ' |
Finance_Receivables_and_Allowa8
Finance Receivables and Allowance for Credit Losses - Schedule of Risk Category of Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commercial Loan [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | $1,373,415 | $1,336,820 |
Commercial Loan [Member] | Pass [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 1,237,983 | 1,237,274 |
Commercial Loan [Member] | Grade Criticized [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 90,545 | 38,476 |
Commercial Loan [Member] | Substandard [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 16,252 | 24,304 |
Commercial Loan [Member] | Non Accrual [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 27,635 | 36,766 |
Commercial Loan [Member] | Doubtful [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 1,000 | ' |
Commercial Real Estate-Construction [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 88,630 | 99,081 |
Commercial Real Estate-Construction [Member] | Pass [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 74,815 | 62,604 |
Commercial Real Estate-Construction [Member] | Grade Criticized [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 9,383 | 11,969 |
Commercial Real Estate-Construction [Member] | Substandard [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 2,559 | 10,204 |
Commercial Real Estate-Construction [Member] | Non Accrual [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 1,873 | 14,304 |
Commercial Real Estate-Construction [Member] | Doubtful [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | ' | ' |
Commercial Real Estate-Other [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 1,072,260 | 1,156,802 |
Commercial Real Estate-Other [Member] | Pass [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 943,781 | 965,967 |
Commercial Real Estate-Other [Member] | Grade Criticized [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 35,473 | 62,819 |
Commercial Real Estate-Other [Member] | Substandard [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 42,516 | 46,491 |
Commercial Real Estate-Other [Member] | Non Accrual [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | 49,406 | 81,525 |
Commercial Real Estate-Other [Member] | Doubtful [Member] | ' | ' |
Risk Category Of Loans [Line Items] | ' | ' |
Total | $1,084 | ' |
Finance_Receivables_and_Allowa9
Finance Receivables and Allowance for Credit Losses - Schedule of Recorded Investment in Residential and Consumer Loans Based on Payment Activity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Consumer Heloc [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | $251,102 | $258,114 |
Consumer Heloc [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 249,152 | 256,394 |
Consumer Heloc [Member] | Nonaccrual Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 1,950 | 1,720 |
Consumer Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 620,473 | 526,085 |
Consumer Auto [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 618,911 | 524,105 |
Consumer Auto [Member] | Nonaccrual Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 1,562 | 1,980 |
Consumer - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 99,683 | 122,656 |
Consumer - Other [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 97,877 | 120,547 |
Consumer - Other [Member] | Nonaccrual Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 1,806 | 2,109 |
Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 1,359,569 | 1,324,703 |
Residential [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | 1,349,236 | 1,312,717 |
Residential [Member] | Nonaccrual Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Finance receivable recorded investment | $10,333 | $11,986 |
Recovered_Sheet1
Finance Receivables and Allowance for Credit Losses - Schedule of Impaired Loans that are Individually Evaluated (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment, Total commercial and CRE | $61,345 | $77,237 |
Unpaid Principal Balance, Total commercial and CRE | 72,262 | 94,262 |
Related Allowance | 6,913 | 7,492 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment with no related allowance | 17,066 | 6,563 |
Unpaid Principal Balance with no related allowance | 17,417 | 9,280 |
Recorded Investment with related allowance | 9,282 | 23,417 |
Unpaid Principal Balance with related allowance | 12,304 | 28,574 |
Related Allowance | 4,723 | 4,702 |
Commercial Real Estate-Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment with no related allowance | 525 | 1,179 |
Unpaid Principal Balance with no related allowance | 633 | 1,287 |
Recorded Investment with related allowance | ' | 3,227 |
Unpaid Principal Balance with related allowance | ' | 3,227 |
Related Allowance | ' | 69 |
Commercial Real Estate-Other [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Recorded Investment with no related allowance | 15,746 | 16,944 |
Unpaid Principal Balance with no related allowance | 22,550 | 23,162 |
Recorded Investment with related allowance | 18,726 | 25,907 |
Unpaid Principal Balance with related allowance | 19,358 | 28,732 |
Related Allowance | $2,190 | $2,721 |
Recovered_Sheet2
Finance Receivables and Allowance for Credit Losses - Schedule of Average Balance and Interest Income Recognized on Impaired Loans (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, Average Recorded Investment, Total | $69,294 | $76,154 |
Interest Income Recognized | 532 | 979 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment with no related allowance | 11,815 | 8,329 |
Interest Income Recognized with no related allowance | 135 | 166 |
Average Recorded Investment with an allowance recorded | 16,351 | 22,581 |
Interest Income Recognized with an allowance recorded | 123 | 116 |
Commercial Real Estate-Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment with no related allowance | 852 | 895 |
Interest Income Recognized with no related allowance | ' | ' |
Average Recorded Investment with an allowance recorded | 1,614 | 2,742 |
Interest Income Recognized with an allowance recorded | ' | ' |
Commercial Real Estate-Other [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment with no related allowance | 16,345 | 17,541 |
Interest Income Recognized with no related allowance | 140 | 224 |
Average Recorded Investment with an allowance recorded | 22,317 | 24,066 |
Interest Income Recognized with an allowance recorded | $134 | $473 |
Recovered_Sheet3
Finance Receivables and Allowance for Credit Losses - Schedule of Past Due Financing Receivables (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | $18,134 | $30,481 |
60-89 Days Past Due | 4,884 | 5,294 |
Recorded Investment > 90 Days and Accruing | 238 | 1,077 |
Nonaccrual | 128,442 | 254,336 |
Total Past Due | 151,698 | 291,188 |
Current | 4,931,266 | 4,905,406 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,532 | 2,691 |
60-89 Days Past Due | 13 | 515 |
Recorded Investment > 90 Days and Accruing | ' | 322 |
Nonaccrual | 28,635 | 36,766 |
Total Past Due | 30,180 | 40,294 |
Current | 1,343,235 | 1,296,526 |
Commercial Real Estate-Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | ' | 11 |
60-89 Days Past Due | 139 | ' |
Recorded Investment > 90 Days and Accruing | ' | ' |
Nonaccrual | 1,873 | 14,304 |
Total Past Due | 2,012 | 14,315 |
Current | 86,618 | 84,766 |
Commercial Real Estate-Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,017 | 3,439 |
60-89 Days Past Due | 27 | 665 |
Recorded Investment > 90 Days and Accruing | ' | 236 |
Nonaccrual | 50,490 | 81,525 |
Total Past Due | 51,534 | 85,865 |
Current | 1,020,726 | 1,070,937 |
Consumer Heloc [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 527 | 961 |
60-89 Days Past Due | 119 | 15 |
Recorded Investment > 90 Days and Accruing | ' | ' |
Nonaccrual | 1,950 | 1,720 |
Total Past Due | 2,596 | 2,696 |
Current | 248,506 | 255,418 |
Consumer Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 3,795 | 4,070 |
60-89 Days Past Due | 716 | 881 |
Recorded Investment > 90 Days and Accruing | 89 | 328 |
Nonaccrual | 1,562 | 1,980 |
Total Past Due | 6,162 | 7,259 |
Current | 614,311 | 518,826 |
Consumer - Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 844 | 1,732 |
60-89 Days Past Due | 317 | 403 |
Recorded Investment > 90 Days and Accruing | 100 | 110 |
Nonaccrual | 1,806 | 2,109 |
Total Past Due | 3,067 | 4,354 |
Current | 96,616 | 118,302 |
Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 8,588 | 14,686 |
60-89 Days Past Due | 2,823 | 1,874 |
Recorded Investment > 90 Days and Accruing | 35 | 66 |
Nonaccrual | 10,333 | 11,986 |
Total Past Due | 21,779 | 28,612 |
Current | 1,337,790 | 1,296,091 |
Covered Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,831 | 2,891 |
60-89 Days Past Due | 730 | 941 |
Recorded Investment > 90 Days and Accruing | 14 | 15 |
Nonaccrual | 31,793 | 103,946 |
Total Past Due | 34,368 | 107,793 |
Current | $183,464 | $264,540 |
Recovered_Sheet4
Finance Receivables and Allowance for Credit Losses - Schedule of Loans by Class Modified as Troubled Debt Restructuring (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
SecurityLoan | SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 135 | 108 |
Pre-modification Outstanding Recorded Investment | $30,399 | $28,407 |
Post-modification Outstanding Recorded Investment | 28,391 | 28,222 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 35 | 44 |
Pre-modification Outstanding Recorded Investment | 16,196 | 9,585 |
Post-modification Outstanding Recorded Investment | 15,155 | 9,574 |
Commercial Real Estate-Construction [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 3 |
Pre-modification Outstanding Recorded Investment | 60 | 1,392 |
Post-modification Outstanding Recorded Investment | 60 | 1,382 |
Commercial Real Estate-Other [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 36 | 35 |
Pre-modification Outstanding Recorded Investment | 10,585 | 16,404 |
Post-modification Outstanding Recorded Investment | 9,791 | 16,272 |
Residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 14 | 13 |
Pre-modification Outstanding Recorded Investment | 1,936 | 532 |
Post-modification Outstanding Recorded Investment | 1,901 | 534 |
Consumer - Other [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 49 | 13 |
Pre-modification Outstanding Recorded Investment | 1,622 | 494 |
Post-modification Outstanding Recorded Investment | $1,484 | $460 |
Recovered_Sheet5
Finance Receivables and Allowance for Credit Losses - Schedule of Troubled Debt Restructurings for which there was Payment Default (Detail) (Troubled Debt Restructurings that Subsequently Defaulted [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
SecurityLoan | SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 5 | 15 |
Recorded Investment | $117 | $1,111 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 3 | 8 |
Recorded Investment | 32 | 500 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 2 | 7 |
Recorded Investment | $85 | $611 |
Recovered_Sheet6
Finance Receivables and Allowance for Credit Losses - Schedule of Activity in Troubled Debt Restructurings (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | $32,054 | $12,990 |
Charge-offs | 820 | -2,484 |
Payments | -12,398 | -6,674 |
Additions | 28,391 | 28,222 |
Ending balance | 48,867 | 32,054 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 12,660 | 7,086 |
Charge-offs | 879 | -2,230 |
Payments | -6,251 | -1,770 |
Additions | 15,155 | 9,574 |
Ending balance | 22,443 | 12,660 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 18,422 | 5,851 |
Charge-offs | 1 | -234 |
Payments | -5,635 | -4,849 |
Additions | 9,851 | 17,654 |
Ending balance | 22,639 | 18,422 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 473 | 53 |
Charge-offs | -61 | -20 |
Payments | -455 | -20 |
Additions | 1,484 | 460 |
Ending balance | 1,441 | 473 |
Residential [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 499 | ' |
Charge-offs | 1 | ' |
Payments | -57 | -35 |
Additions | 1,901 | 534 |
Ending balance | $2,344 | $499 |
Recovered_Sheet7
Finance Receivables and Allowance for Credit Losses - Schedule of Activity of Purchased Impaired Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Purchased impaired loans | $37,145 | $83,395 |
Carrying amount, net of allowance | 34,576 | 79,120 |
Allowance for loan losses | 2,569 | 4,275 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Purchased impaired loans | 648 | 7,859 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Purchased impaired loans | 23,618 | 52,981 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Purchased impaired loans | 12,725 | 22,432 |
Residential [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Purchased impaired loans | $154 | $123 |
Recovered_Sheet8
Finance Receivables and Allowance for Credit Losses - Schedule of Accretable Difference on Purchased Loans (Detail) (Non Covered Loans [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' |
Beginning balance | $31,579 |
New loans purchased | ' |
Accretion of income | -16,777 |
Reclassifications from (to) nonaccretable difference | 13,509 |
Disposals/other adjustments | -20 |
Ending balance | 28,291 |
Monroe Bancorp [Member] | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' |
Beginning balance | 11,834 |
New loans purchased | ' |
Accretion of income | -5,647 |
Reclassifications from (to) nonaccretable difference | 521 |
Disposals/other adjustments | 79 |
Ending balance | 6,787 |
Integra Noncovered [Member] | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' |
Beginning balance | 3,575 |
New loans purchased | ' |
Accretion of income | -1,311 |
Reclassifications from (to) nonaccretable difference | 210 |
Disposals/other adjustments | -49 |
Ending balance | 2,425 |
IBT [Member] | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' |
Beginning balance | 16,170 |
New loans purchased | ' |
Accretion of income | -9,819 |
Reclassifications from (to) nonaccretable difference | 12,778 |
Disposals/other adjustments | -50 |
Ending balance | $19,079 |
Recovered_Sheet9
Finance Receivables and Allowance for Credit Losses - Schedule of Receivables for Which Contractually Required Payments would not be Collected (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Monroe Bancorp [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required payments | $94,714 |
Nonaccretable difference | -45,157 |
Cash flows expected to be collected at acquisition | 49,557 |
Accretable yield | -6,971 |
Fair value of acquired loans at acquisition | 42,586 |
Integra Bank [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required payments | 921,856 |
Nonaccretable difference | -226,426 |
Cash flows expected to be collected at acquisition | 695,430 |
Accretable yield | -98,487 |
Fair value of acquired loans at acquisition | 596,943 |
IBT [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required payments | 118,535 |
Nonaccretable difference | -53,165 |
Cash flows expected to be collected at acquisition | 65,370 |
Accretable yield | -11,945 |
Fair value of acquired loans at acquisition | $53,425 |
Covered_Loans_Additional_Infor
Covered Loans - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Covered Loans [Line Items] | ' | ' |
Covered loans | $217,832,000 | $372,333,000 |
Allowance for loan losses related to the acquired loans | 0 | ' |
Outstanding covered loans including principal, interest, fees and penalties | 406,300,000 | 529,200,000 |
Percentage of prospective yield adjustments offset | 80.00% | ' |
Loss sharing asset | 88,500,000 | ' |
Loss sharing asset, FDIC indemnification asset | 73,700,000 | ' |
Loss sharing asset, loss share receivable | 14,800,000 | ' |
Percentage of increase in indemnification asset measured as a result of impairment | 80.00% | ' |
Expected Indemnification Payments [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Loss sharing asset, FDIC indemnification asset | 41,500,000 | 99,500,000 |
To Be Amortized Against Future Accreted Interest Income [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Loss sharing asset, FDIC indemnification asset | $32,200,000 | $7,900,000 |
Covered_Loans_Composition_of_C
Covered Loans - Composition of Covered Loans by Lending Classification (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Covered Loans [Line Items] | ' | ' |
Covered loans | $217,832 | $372,333 |
Allowance for loan losses | -5,404 | ' |
Covered loans, net | 212,428 | ' |
Commercial Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 29,335 | ' |
Commercial Real Estate Loan [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 81,928 | ' |
Residential [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 27,853 | ' |
Consumer [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 78,716 | ' |
Covered Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 217,832 | ' |
Loans Accounted for Under ASC 310-30 (Purchased Credit Impaired) [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Allowance for loan losses | -3,852 | ' |
Covered loans, net | 131,038 | ' |
Loans Accounted for Under ASC 310-30 (Purchased Credit Impaired) [Member] | Commercial Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 12,281 | ' |
Loans Accounted for Under ASC 310-30 (Purchased Credit Impaired) [Member] | Commercial Real Estate Loan [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 77,232 | ' |
Loans Accounted for Under ASC 310-30 (Purchased Credit Impaired) [Member] | Residential [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 27,704 | ' |
Loans Accounted for Under ASC 310-30 (Purchased Credit Impaired) [Member] | Consumer [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 17,673 | ' |
Loans Accounted for Under ASC 310-30 (Purchased Credit Impaired) [Member] | Covered Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 134,890 | ' |
Loans Excluded from ASC 310-30 (1) (Not Purchased Credit Impaired) [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Allowance for loan losses | -1,552 | ' |
Covered loans, net | 81,390 | ' |
Loans Excluded from ASC 310-30 (1) (Not Purchased Credit Impaired) [Member] | Commercial Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 17,054 | ' |
Loans Excluded from ASC 310-30 (1) (Not Purchased Credit Impaired) [Member] | Commercial Real Estate Loan [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 4,696 | ' |
Loans Excluded from ASC 310-30 (1) (Not Purchased Credit Impaired) [Member] | Residential [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 149 | ' |
Loans Excluded from ASC 310-30 (1) (Not Purchased Credit Impaired) [Member] | Consumer [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | 61,043 | ' |
Loans Excluded from ASC 310-30 (1) (Not Purchased Credit Impaired) [Member] | Covered Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Covered loans | $82,942 | ' |
Covered_Loans_Schedule_of_Acqu
Covered Loans - Schedule of Acquired Impaired Loans (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Impaired Loans By Type [Line Items] | ' | ' |
Beginning balance | $247,752 | $456,788 |
Principal reductions and interest payments | -144,512 | -235,249 |
Accretion of loan discount | 35,363 | 52,173 |
Changes in contractual and expected cash flows due to remeasurement | 1,574 | -6,703 |
Removals due to foreclosure or sale | -9,139 | -19,257 |
Ending balance | 131,038 | 247,752 |
Contractual Cash Flows [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Beginning balance | 424,527 | 729,496 |
Principal reductions and interest payments | -144,512 | -235,249 |
Accretion of loan discount | ' | ' |
Changes in contractual and expected cash flows due to remeasurement | -20,242 | -37,921 |
Removals due to foreclosure or sale | -8,731 | -31,799 |
Ending balance | 251,042 | 424,527 |
Non Accretable Difference [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Beginning balance | -90,996 | -180,655 |
Principal reductions and interest payments | ' | ' |
Accretion of loan discount | ' | ' |
Changes in contractual and expected cash flows due to remeasurement | 43,424 | 76,757 |
Removals due to foreclosure or sale | 779 | 12,902 |
Ending balance | -46,793 | -90,996 |
Accretable Yield [Member] | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' |
Beginning balance | -85,779 | -92,053 |
Principal reductions and interest payments | ' | ' |
Accretion of loan discount | 35,363 | 52,173 |
Changes in contractual and expected cash flows due to remeasurement | -21,608 | -45,539 |
Removals due to foreclosure or sale | -1,187 | -360 |
Ending balance | ($73,211) | ($85,779) |
Covered_Loans_Schedule_of_Accr
Covered Loans - Schedule of Accretable Yield, or Income Expected to be Collected (Detail) (Covered Loans [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Covered Loans [Member] | ' | ' |
Covered Loans [Line Items] | ' | ' |
Beginning balance | $85,779 | $92,053 |
New loans purchased | ' | ' |
Accretion of income | -35,363 | -52,173 |
Reclassifications from (to) nonaccretable difference | 21,608 | 45,539 |
Disposals/other adjustments | 1,187 | 360 |
Ending balance | $73,211 | $85,779 |
Covered_Loans_Summary_of_FDIC_
Covered Loans - Summary of FDIC Loss Sharing Asset (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Adjustments Not Reflected in Income [Member] | Adjustments Not Reflected in Income [Member] | Adjustments Reflected in Income [Member] | Adjustments Reflected in Income [Member] | |||
Covered Loans [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $88,513 | $116,624 | $168,881 | ' | ' | ' | ' |
Established through acquisitions | ' | ' | ' | ' | ' | ' | ' |
(Amortization) accretion | ' | ' | ' | ' | ' | -10,072 | -13,128 |
Cash received from FDIC | ' | ' | ' | -19,527 | -48,223 | ' | ' |
Impairment | ' | ' | ' | ' | ' | 32 | 1,069 |
Write-downs/sale of other real estate | ' | ' | ' | ' | ' | 1,933 | 12,637 |
Recovery amounts due to FDIC | ' | ' | ' | ' | ' | -1,243 | -3,223 |
Other | ' | ' | ' | 704 | -659 | 62 | -730 |
Ending balance | $88,513 | $116,624 | $168,881 | ' | ' | ' | ' |
Other_Real_Estate_Owned_Carryi
Other Real Estate Owned - Carrying Amount for Other Real Estate Owned (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Real Estate Properties [Line Items] | ' | ' |
Ending balance | $7,562 | $11,179 |
Other Real Estate Owned [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Beginning balance | 11,179 | 7,119 |
Acquired | ' | 6,111 |
Additions | 7,278 | 11,559 |
Sales | -9,316 | -10,723 |
Gains (losses)/Write-downs | -1,579 | -2,887 |
Ending balance | 7,562 | 11,179 |
Other Real Estate Owned, Covered [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
Beginning balance | 26,137 | 30,443 |
Acquired | ' | ' |
Additions | 6,368 | 21,249 |
Sales | -14,813 | -9,805 |
Gains (losses)/Write-downs | -4,022 | -15,750 |
Ending balance | $13,670 | $26,137 |
Other_Real_Estate_Owned_Carryi1
Other Real Estate Owned - Carrying Amount for Other Real Estate Owned (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Regulatory Assets [Abstract] | ' | ' |
Repossessed personal property | $0.30 | $0.50 |
Other_Real_Estate_Owned_Additi
Other Real Estate Owned - Additional Information (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Real Estate Properties [Line Items] | ' |
Percentage covered up to $467.2 million | 0.00% |
Losses up to $275.0 [Member] | ' |
Real Estate Properties [Line Items] | ' |
Loss sharing agreements amount, 80% on assets acquired | $275 |
Loss sharing reimbursement threshold | 80.00% |
Losses in Excess of $275.0 up to $467.2 [Member] | ' |
Real Estate Properties [Line Items] | ' |
Zero percent for losses on acquisition | 467.2 |
Percentage covered up to $467.2 million | 0.00% |
Losses in Excess of $467.2 [Member] | ' |
Real Estate Properties [Line Items] | ' |
Loss sharing agreements amount, 80% on assets acquired | $467.20 |
80% reimbursement for loss on acquisition | 80.00% |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Beginning balance | $338,820 | $253,177 |
Goodwill acquired during the period | 13,909 | 85,643 |
Ending balance | 352,729 | 338,820 |
Banking [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | 297,055 | 212,412 |
Goodwill acquired during the period | 13,909 | 84,643 |
Ending balance | 310,964 | 297,055 |
Insurance [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | 39,873 | 39,873 |
Goodwill acquired during the period | ' | ' |
Ending balance | 39,873 | 39,873 |
Wealth Management [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | 1,892 | 892 |
Goodwill acquired during the period | ' | 1,000 |
Ending balance | 1,892 | 1,892 |
Other [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | ' | ' |
Goodwill acquired during the period | ' | ' |
Ending balance | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | |
Branch | Customer Trust Relationships [Member] | Customer Trust Relationships [Member] | Minimum [Member] | Maximum [Member] | Indiana Community Bancorp [Member] | Indiana Community Bancorp [Member] | Indiana Community Bancorp [Member] | Branch Sales [Member] | Community Banking [Member] | Community Banking [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | ||||
Indiana Community Bancorp [Member] | Bank of America [Member] | Indiana Community Bancorp [Member] | Bank of America [Member] | Insurance Book of Business [Member] | |||||||||||||||
Branch | |||||||||||||||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill acquired during the period | ' | $13,909,000 | $85,643,000 | ' | ' | ' | ' | ' | $86,200,000 | $600,000 | $85,600,000 | ' | $84,600,000 | $13,300,000 | ' | ' | ' | $1,000,000 | ' |
Number of branches acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | ' | ' | ' | ' | ' |
Estimated useful lives of core deposits and customer relationships | ' | ' | ' | ' | ' | ' | '5 years | '15 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in customer business relationship | ' | ' | ' | ' | 1,300,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Core deposit intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | 3,500,000 | ' | ' | ' | ' | ' |
Customer relationship intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | 500,000 |
Number of retail bank branches | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense of other intangible assets | ' | 8,162,000 | 7,941,000 | 8,829,000 | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' |
Impairment charges | ' | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Schedule of Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $81,634 | $76,735 |
Accumulated Amortization | -55,677 | -47,515 |
Net Carrying Amount | 25,957 | 29,220 |
Core Deposit [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 44,021 | 40,559 |
Accumulated Amortization | -31,266 | -25,908 |
Net Carrying Amount | 12,755 | 14,651 |
Customer Business Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 27,848 | 26,411 |
Accumulated Amortization | -19,826 | -18,153 |
Net Carrying Amount | 8,022 | 8,258 |
Customer Trust Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 5,352 | 5,352 |
Accumulated Amortization | -1,810 | -1,080 |
Net Carrying Amount | 3,542 | 4,272 |
Customer Loan Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 4,413 | 4,413 |
Accumulated Amortization | -2,775 | -2,374 |
Net Carrying Amount | $1,638 | $2,039 |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense for Future Years (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $6,872 | ' |
2015 | 5,610 | ' |
2016 | 4,539 | ' |
2017 | 3,145 | ' |
2018 | 2,178 | ' |
Thereafter | 3,613 | ' |
Net Carrying Amount | $25,957 | $29,220 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Maturities Of Time Deposits [Abstract] | ' | ' |
Time deposits, $100,000 or more, total | $265.30 | $365.50 |
Deposits_Schedule_of_Maturitie
Deposits - Schedule of Maturities of Total Time Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Maturities Of Time Deposits [Abstract] | ' | ' |
Due in 2014 | $587,412 | ' |
Due in 2015 | 182,542 | ' |
Due in 2016 | 145,331 | ' |
Due in 2017 | 37,575 | ' |
Due in 2018 | 35,681 | ' |
Thereafter | 29,434 | ' |
Total time deposits | $1,017,975 | $1,281,281 |
ShortTerm_Borrowings_Schedule_
Short-Term Borrowings - Schedule of Short-Term Borrowings and Weighted-Average Interest Rates (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | ' | ' |
Outstanding at end of period | $462,332 | $589,815 |
Average amount outstanding | 517,653 | 413,921 |
Weighted average interest rate during period | 0.12% | 0.13% |
Weighted average interest rate at end of period | 0.09% | 0.13% |
Federal Funds Purchased [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Outstanding at end of period | 115,103 | 231,688 |
Average amount outstanding | 176,033 | 89,697 |
Maximum amount outstanding at any month-end | 466,861 | 251,363 |
Weighted average interest rate during period | 0.22% | 0.17% |
Weighted average interest rate at end of period | 0.20% | 0.18% |
Repurchase Agreements [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Outstanding at end of period | 347,229 | 358,127 |
Average amount outstanding | 341,620 | 324,215 |
Maximum amount outstanding at any month-end | 425,191 | 361,490 |
Weighted average interest rate during period | 0.07% | 0.12% |
Weighted average interest rate at end of period | 0.05% | 0.10% |
Other Short-Term Borrowings [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Outstanding at end of period | ' | ' |
Average amount outstanding | ' | 9 |
Maximum amount outstanding at any month-end | ' | ' |
Weighted average interest rate during period | ' | 7.51% |
Weighted average interest rate at end of period | ' | ' |
Financing_Activities_Other_Bor
Financing Activities - Other Borrowings (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Proforma Debt Instrument [Line Items] | ' | ' |
ASC 815 fair value hedge and other basis adjustments | $3,625 | ' |
Old National Bancorp [Member] | ' | ' |
Proforma Debt Instrument [Line Items] | ' | ' |
ASC 815 fair value hedge and other basis adjustments | -3,262 | -3,339 |
Old National Bancorp [Member] | Junior Subordinated Debt [Member] | ' | ' |
Proforma Debt Instrument [Line Items] | ' | ' |
Junior subordinated debentures (variable rates 1.84% to 1.99%) maturing March 2035 to June 2037 | 28,000 | 28,000 |
Old National Bank [Member] | ' | ' |
Proforma Debt Instrument [Line Items] | ' | ' |
Securities sold under agreements to repurchase (fixed rates 2.47% to 2.50%) maturing January 2017 to January 2018 | 50,000 | 50,000 |
Federal Home Loan Bank advances (fixed rates 0.15% to 8.34% and variable rates 0.32% to 0.36%) maturing January 2014 to January 2023 | 477,856 | 155,323 |
Capital lease obligation | 4,157 | 4,211 |
ASC 815 fair value hedge and other basis adjustments | -363 | 3,298 |
Total other borrowings | $556,388 | $237,493 |
Financing_Activities_Other_Bor1
Financing Activities - Other Borrowings (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Old National Bancorp [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Maturity, Start date | 1-Mar-35 |
Maturity, End date | 1-Jun-37 |
Old National Bancorp [Member] | Junior Subordinated Debt [Member] | Minimum [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Variable rates | 1.84% |
Old National Bancorp [Member] | Junior Subordinated Debt [Member] | Maximum [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Variable rates | 1.99% |
Old National Bank [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Maturity, Start date | 1-Jan-14 |
Maturity, End date | 1-Jan-23 |
Old National Bank [Member] | Securities Sold under Agreements to Repurchase [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Maturity, Start date | 1-Jan-17 |
Maturity, End date | 1-Jan-18 |
Old National Bank [Member] | Securities Sold under Agreements to Repurchase [Member] | Minimum [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Fixed rates | 2.47% |
Old National Bank [Member] | Securities Sold under Agreements to Repurchase [Member] | Maximum [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Fixed rates | 2.50% |
Old National Bank [Member] | Federal Home Loan Bank Advances [Member] | Minimum [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Variable rates | 0.32% |
Fixed rates | 0.15% |
Old National Bank [Member] | Federal Home Loan Bank Advances [Member] | Maximum [Member] | ' |
Proforma Debt Instrument [Line Items] | ' |
Variable rates | 0.36% |
Fixed rates | 8.34% |
Financing_Activities_Contractu
Financing Activities - Contractual Maturities of Long-Term Debt (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Debt Disclosure [Abstract] | ' |
Due in 2014 | $175,757 |
Due in 2015 | 63 |
Due in 2016 | 117,395 |
Due in 2017 | 46,041 |
Due in 2018 | 45,672 |
Thereafter | 175,085 |
ASC 815 fair value hedge and other basis adjustments | -3,625 |
Total | $556,388 |
Financing_Activities_Additiona
Financing Activities - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2010 | Mar. 31, 2005 | Oct. 07, 2011 | Jul. 31, 2006 | Oct. 07, 2011 | Jun. 15, 2012 | Mar. 31, 2007 | Sep. 30, 2006 |
Item | Subordinated Debt [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advance One [Member] | Federal Home Loan Bank Advance One [Member] | Federal Home Loan Bank Advance Two [Member] | Federal Home Loan Bank Advance Two [Member] | St Joseph Capital Trust II [Member] | St Joseph Capital Trust II [Member] | St Joseph Capital Trust II [Member] | Monroe Bancorp Capital Trust I [Member] | Monroe Bancorp Capital Trust I [Member] | Monroe Bancorp Statutory Trust II [Member] | Monroe Bancorp Statutory Trust II [Member] | Monroe Bancorp Statutory Trust II [Member] | Home Federal Statutory Trust I [Member] | |||
Monroe Bancorp [Member] | Pre Restructuring [Member] | Post Restructuring [Member] | Pre Restructuring [Member] | Post Restructuring [Member] | |||||||||||||||||
Proforma Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average rates of Federal Home Loan Bank advances | ' | ' | ' | ' | ' | 3.07% | ' | 0.94% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of borrowings collateralized by investment securities and residential real estate loans | ' | ' | ' | ' | ' | ' | ' | 145.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank advances terminated | $1.90 | $1 | ' | ' | ' | $50 | $50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advances from Federal Home Loan Banks restructured | ' | ' | ' | ' | 33.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FHLB advances effective interest rate | ' | ' | ' | ' | ' | ' | ' | ' | 3.27% | 3.29% | 2.04% | 2.49% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subordinated notes | ' | ' | ' | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage, acquisition of subordinated notes | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5 | ' | $3 | ' | ' | $5 | $15 |
Cumulative annual distribution rate of preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.27% | ' | ' | ' | ' | ' | ' | ' |
Reference rate of the variable interest rate for preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Three-month LIBOR plus 175 basis points | ' | ' | ' | ' | 'Three-month LIBOR plus 160 basis points | ' | ' | 'Three-month LIBOR plus 165 basis points |
LIBOR rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | 1.60% | ' | ' | 1.65% |
Variable interest rate for preferred securities, Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17-Mar-35 | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed rate of interest of preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.15% | ' | ' | 6.52% | ' | ' |
Long-term capital lease obligation period, in years | ' | ' | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term capital lease obligation renewal period, in years | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of renewal option for 10 years period | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing_Activities_Future_Mi
Financing Activities - Future Minimum Lease Payments under Capital Lease (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $410 |
2015 | 410 |
2016 | 410 |
2017 | 410 |
2018 | 410 |
Thereafter | 9,264 |
Total minimum lease payments | 11,314 |
Less amounts representing interest | 7,157 |
Present value of net minimum lease payments | $4,157 |
Income_Taxes_Summary_of_Differ
Income Taxes - Summary of Differences in Taxes Computed at Statutory Rate (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision at statutory rate of 35% | ' | ' | ' | ' | ' | ' | ' | ' | $49,881 | $44,725 | $34,917 |
Tax-exempt interest | ' | ' | ' | ' | ' | ' | ' | ' | -10,125 | -8,590 | -8,035 |
Section 291/265 interest disallowance | ' | ' | ' | ' | ' | ' | ' | ' | 107 | 147 | 213 |
Bank owned life insurance income | ' | ' | ' | ' | ' | ' | ' | ' | -2,609 | -2,258 | -1,863 |
Tax-exempt income | ' | ' | ' | ' | ' | ' | ' | ' | -12,627 | -10,701 | -9,685 |
Reserve for unrecognized tax benefits | ' | -380 | ' | ' | ' | ' | ' | ' | -381 | -292 | -623 |
State income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 3,386 | 3,409 | 3,188 |
State statutory rate change | ' | ' | ' | ' | ' | ' | ' | ' | 1,257 | ' | ' |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 81 | -1,031 | -495 |
Income tax expense | $10,602 | $6,869 | $13,734 | $10,392 | $11,020 | $5,861 | $10,889 | $8,340 | $41,597 | $36,110 | $27,302 |
Effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 29.20% | 28.30% | 27.40% |
Income_Taxes_Summary_of_Differ1
Income Taxes - Summary of Differences in Taxes Computed at Statutory Rate (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Statutory rate | 35.00% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Increase in Income tax expense related to statutory rate | ' | $1,300,000 | ' | ' | ' | ' | ' |
Valuation allowance recorded | ' | ' | ' | ' | 0 | 0 | ' |
Operating loss carryforwards, federal | ' | ' | ' | ' | 6,600,000 | 9,300,000 | ' |
AMT carryforwards | ' | ' | ' | ' | 21,268,000 | 23,029,000 | ' |
Federal tax credits | ' | ' | ' | ' | 422,000 | 0 | ' |
Operating loss carryforwards, state | ' | ' | ' | ' | 32,300,000 | 34,600,000 | ' |
Operating loss carryforwards, expiration date | ' | ' | ' | ' | '2023 | ' | ' |
Unrecognized tax benefits, if recognized, would favorably affect the effective tax rate | ' | ' | ' | ' | 50,000 | ' | ' |
Decrease in unrecognized tax benefits, expected in next twelve months | ' | ' | ' | ' | 3,800,000 | ' | ' |
Interest and penalties | ' | ' | ' | ' | -200,000 | -100,000 | -200,000 |
Interest and penalties, accrued | ' | ' | ' | ' | 1,100,000 | 1,300,000 | ' |
Uncertain tax position reversal | 380,000 | ' | 290,000 | 620,000 | ' | ' | ' |
Interest portion of uncertain tax position reversal | 240,000 | ' | 100,000 | 210,000 | ' | ' | ' |
Reserve for unrecognized tax benefits | $380,000 | ' | ' | ' | $381,000 | $292,000 | $623,000 |
Federal Net Operating Loss [Member] | ' | ' | ' | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Operating loss carryforwards, expiration date | ' | ' | ' | ' | '2032 | ' | ' |
Income_Taxes_Provision_for_Def
Income Taxes - Provision for Deferred Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal income taxes currently payable | ' | ' | ' | ' | ' | ' | ' | ' | $13,901 | $21,015 | $6,742 |
State income taxes currently payable | ' | ' | ' | ' | ' | ' | ' | ' | -51 | 1,975 | 288 |
Federal income taxes deferred | ' | ' | ' | ' | ' | ' | ' | ' | 22,983 | 11,052 | 17,422 |
State income taxes deferred | ' | ' | ' | ' | ' | ' | ' | ' | 4,764 | 2,068 | 2,850 |
Deferred income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 27,747 | 13,120 | 20,272 |
Income tax expense | $10,602 | $6,869 | $13,734 | $10,392 | $11,020 | $5,861 | $10,889 | $8,340 | $41,597 | $36,110 | $27,302 |
Income_Taxes_Schedule_of_Signi
Income Taxes - Schedule of Significant Components of Net Deferred Tax Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets | ' | ' |
Allowance for loan losses, net of recapture | $16,891 | $20,861 |
Benefit plan accruals | 15,331 | 18,389 |
AMT credit | 21,268 | 23,029 |
Unrealized losses on benefit plans | 4,011 | 8,347 |
Net operating loss carryforwards | 3,763 | 5,135 |
Premises and equipment | 24,221 | 30,790 |
Federal tax credits | 422 | 0 |
Other-than-temporary-impairment | 4,939 | 7,546 |
Loans - ASC 310 | 51,546 | 90,516 |
Other real estate owned | ' | 8,715 |
Lease exit obligation | 2,654 | 1,232 |
Unrealized losses on available-for-sale investment securities | 13,276 | ' |
Unrealized losses on held-to-maturity investment securities | 8,567 | ' |
Unrealized losses on hedges | 116 | ' |
Other, net | 5,406 | 5,415 |
Total deferred tax assets | 172,411 | 219,975 |
Deferred Tax Liabilities | ' | ' |
Accretion on investment securities | -438 | -590 |
Lease receivable, net | -395 | -3,757 |
Other real estate owned | -701 | ' |
Purchase accounting | -7,355 | -6,737 |
FDIC indemnification asset | -27,938 | -64,152 |
Unrealized gains on available-for-sale investment securities | ' | -24,972 |
Unrealized gains on held-to-maturity securities | ' | -2,177 |
Other, net | -2,028 | -1,274 |
Total deferred tax liabilities | -38,855 | -103,659 |
Net deferred tax assets | $133,556 | $116,316 |
Income_Taxes_Summary_of_Reconc
Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Balance at January 1 | $3,953 | $4,145 | $4,553 |
Additions based on tax positions related to the current year | 34 | 2 | 4 |
Reductions due to statute of limitations expiring | -140 | -194 | -412 |
Balance at December 31 | $3,847 | $3,953 | $4,145 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Share data in Millions, unless otherwise specified | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Retirement benefits based on years of service and compensation | ' | '5 years | ' | ' |
Estimated net loss from defined benefit plan, that will be amortized into periodic costs | ' | $1,300,000 | ' | ' |
Accumulated benefit obligation and projected benefit obligation | ' | 41,300,000 | 48,700,000 | ' |
Expected cash contribution | ' | 8,800,000 | ' | ' |
Termination liability | 14,000,000 | ' | ' | ' |
Contribution plan, employer matching contribution percentage | ' | 50.00% | ' | ' |
Defined contribution plans employee contribution percentage of eligible compensation matched by employer | ' | 6.00% | ' | ' |
Discretionary profit sharing | ' | 0 | 0 | 0 |
Shares allocated to the employee stock ownership plan | ' | 1.3 | 1.4 | 1.6 |
Contribution expense under employee stock ownership plan | ' | $3,800,000 | $3,400,000 | $3,200,000 |
Equity Securities [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Asses allocation target, current year, minimum | ' | 40.00% | ' | ' |
Asses allocation target, current year, maximum | ' | 70.00% | ' | ' |
Debt Securities [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Asses allocation target, current year, minimum | ' | 30.00% | ' | ' |
Asses allocation target, current year, maximum | ' | 60.00% | ' | ' |
Cash and Cash Equivalents [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Asses allocation target, current year, minimum | ' | 0.00% | ' | ' |
Asses allocation target, current year, maximum | ' | 15.00% | ' | ' |
Employee_Benefit_Plans_Summary
Employee Benefit Plans - Summary of Defined Benefit Plans Combined Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation, Beginning Balance | $48,700 | ' | ' |
Benefit Obligation, Interest cost | 1,740 | 1,971 | 2,099 |
Benefit Obligation, Actuarial loss | -2,318 | -4,027 | -2,755 |
Plan Assets, Settlement | -1,118 | -1,170 | -1,539 |
Defined Benefit Plan, Benefit Obligation, Ending Balance | 41,300 | 48,700 | ' |
Accrued benefit liability | -3,405 | -11,178 | ' |
Net amount recognized | -3,405 | -11,178 | ' |
Net actuarial loss | 10,530 | 20,868 | ' |
Amount Recognized in OCI, Total | 10,530 | 20,868 | ' |
Change in Projected Benefit Obligation [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation, Beginning Balance | 48,728 | 46,553 | ' |
Benefit Obligation, Interest cost | 1,740 | 1,971 | ' |
Plan Assets, Benefits paid | -942 | -893 | ' |
Benefit Obligation, Actuarial loss | -3,783 | 3,697 | ' |
Plan Assets, Settlement | -4,422 | -2,600 | ' |
Defined Benefit Plan, Benefit Obligation, Ending Balance | 41,321 | 48,728 | ' |
Change in Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance | 37,550 | 36,339 | ' |
Plan Assets, Actual return on plan assets | 5,320 | 4,140 | ' |
Plan Assets, Employer contributions | 410 | 564 | ' |
Plan Assets, Benefits paid | -942 | -893 | ' |
Plan Assets, Settlement | -4,422 | -2,600 | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance | 37,916 | 37,550 | ' |
Funded status at December 31 | ($3,405) | ($11,178) | ' |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' |
Benefit Cost, Interest cost | $1,740 | $1,971 | $2,099 |
Benefit Cost, Expected return on plan assets | -2,202 | -2,345 | -2,704 |
Benefit Cost, Recognized actuarial loss | 2,318 | 4,027 | 2,755 |
Benefit Cost, Net periodic benefit cost | 1,856 | 3,653 | 2,150 |
Benefit Cost, Settlement cost | 1,118 | 1,170 | 1,539 |
Total net periodic benefit cost | 2,974 | 4,823 | 3,689 |
Other Changes, Net actuarial (gain)/loss | -6,901 | 1,903 | 9,172 |
Other Changes, Amortization of net actuarial loss | -2,318 | -4,027 | -2,755 |
Other Changes, Settlement cost | -1,118 | -1,170 | -1,539 |
Total recognized in Other Comprehensive Income | -10,337 | -3,294 | 4,878 |
Total recognized in net periodic benefit cost and other comprehensive income | ($7,363) | $1,529 | $8,567 |
Employee_Benefit_Plans_Assumpt
Employee Benefit Plans - Assumptions Used in Determining the Benefit Obligations and Net Periodic Benefit Expense Income (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ' | ' |
Benefit obligations, Discount rate at the end of the period | 4.75% | 4.00% | 4.55% |
Net periodic benefit cost, Discount rate at the beginning of the period | 4.00% | 4.55% | 5.50% |
Net periodic benefit cost, Expected return on plan assets | 7.50% | 7.50% | 8.00% |
Employee_Benefit_Plans_Asset_A
Employee Benefit Plans - Asset Allocation Of Retirement Plan (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% | 100.00% |
Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Expected Long-Term Rate of Return, Equity securities, Minimum | 9.00% | ' | ' |
Expected Long-Term Rate of Return, Equity securities, Maximum | 9.50% | ' | ' |
Asses allocation target, current year, minimum | 40.00% | ' | ' |
Asses allocation target, current year, maximum | 70.00% | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 64.00% | 61.00% | 61.00% |
Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Expected Long-Term Rate of Return, Debt securities, Minimum | 4.00% | ' | ' |
Expected Long-Term Rate of Return, Debt securities, Maximum | 5.85% | ' | ' |
Asses allocation target, current year, minimum | 30.00% | ' | ' |
Asses allocation target, current year, maximum | 60.00% | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 35.00% | 38.00% | 34.00% |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Expected Long-Term Rate of Return, Cash equivalents | ' | ' | ' |
Asses allocation target, current year, minimum | 0.00% | ' | ' |
Asses allocation target, current year, maximum | 15.00% | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% | 5.00% |
Employee_Benefit_Plans_Pension
Employee Benefit Plans - Pension Plan Assets At Fair Value (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Carrying Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | $37,916 | $37,550 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 13,449 | 14,131 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 24,467 | 23,419 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Large U.S. Equity [Member] | Carrying Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 16,245 | 14,979 |
Large U.S. Equity [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Large U.S. Equity [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 16,245 | 14,979 |
Large U.S. Equity [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
International Equity [Member] | Carrying Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 8,120 | 7,979 |
International Equity [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
International Equity [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 8,120 | 7,979 |
International Equity [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Short-Term Fixed Income [Member] | Carrying Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 102 | 461 |
Short-Term Fixed Income [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Short-Term Fixed Income [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 102 | 461 |
Short-Term Fixed Income [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Fixed Income [Member] | Carrying Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 13,449 | 14,131 |
Fixed Income [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | 13,449 | 14,131 |
Fixed Income [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Fixed Income [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets, Period Increase (Decrease), Total | ' | ' |
Employee_Benefit_Plans_Expecte
Employee Benefit Plans - Expected Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract] | ' |
2014 | $8,800 |
2015 | 4,030 |
2016 | 3,530 |
2017 | 4,360 |
2018 | 2,622 |
Years 2019 - 2023 | $14,200 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 15, 2012 | Sep. 15, 2012 | Jan. 31, 2011 | Jan. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 15, 2012 | Dec. 31, 2012 | Sep. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options [Member] | Minimum [Member] | Maximum [Member] | Indiana Community Bancorp [Member] | Old National Bancorp [Member] | Old National Bancorp [Member] | Monroe Bancorp [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | ||||
Stock Options [Member] | Stock Options [Member] | Indiana Community Bancorp [Member] | Old National Bancorp [Member] | Old National Bancorp [Member] | ||||||||||||||||
Indiana Community Bancorp [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining shares available for issuance | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation expense | $4,000,000 | $3,300,000 | $3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | $23,000 | ' | ' | ' | ' |
Total income tax benefit, stock-based compensation cost | 1,600,000 | 1,300,000 | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation awards, vesting period | ' | ' | ' | ' | '3 years | '5 years | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | '3 years | ' | ' |
Unrecognized compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | 3,200,000 | 2,900,000 | 2,400,000 |
Expected weighted-average period for cost recognition (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 9 months 15 days | ' | ' | ' | ' | ' | '1 year 8 months 12 days | ' | ' |
Total fair value of shares vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | 1,900,000 | 1,000,000 | ' | ' | ' | ' | ' | ' |
Reversal of compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' |
Number of shares impacted by modification of vesting eligibility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Nonvested stock awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | 29,000 | ' | ' | ' |
Increase in expense related to performance based restricted stock grants vesting expectations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' |
Decrease in expense related to performance based restricted stock grants vesting expectations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200,000 | ' | ' |
Contractual term, in years | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options outstanding | 1,344,000 | 3,371,000 | ' | ' | ' | ' | 200,000 | 300,000 | 300,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Changes in the Nonvested Restricted Shares (Detail) (Restricted Stock [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested shares, Number Outstanding, Beginning balance | 189,000 |
Nonvested shares, Granted, Number Outstanding | 84,000 |
Nonvested shares, Vested, Number Outstanding | -99,000 |
Nonvested shares, Forfeited, Number Outstanding | -2,000 |
Nonvested shares, Number Outstanding, Ending balance | 172,000 |
Nonvested shares, Weighted Average Grant-Date Fair Value, Beginning of Period | $11.79 |
Nonvested shares, Granted, Weighted Average Grant-Date Fair Value | $13.04 |
Nonvested shares, Vested, Weighted Average Grant-Date Fair Value | $11.76 |
Nonvested shares, Forfeited, Weighted Average Grant-Date Fair Value | $10.61 |
Nonvested shares, Weighted Average Grant-Date Fair Value, Ending of Period | $12.44 |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Changes in the Nonvested Restricted Stock Units (Detail) (Restricted Stock Units [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested shares, Number Outstanding, Beginning balance | 536,000 |
Nonvested shares, Granted, Number Outstanding | 295,000 |
Nonvested shares, Vested, Number Outstanding | -110,000 |
Nonvested shares, Forfeited, Number Outstanding | -32,000 |
Nonvested Shares, Reinvested dividend equivalents, Number Outstanding | 22,000 |
Nonvested shares, Number Outstanding, Ending balance | 711,000 |
Nonvested shares, Weighted Average Grant-Date Fair Value, Beginning of Period | $12.24 |
Nonvested shares, Granted, Weighted Average Grant-Date Fair Value | $11.84 |
Nonvested shares, Vested, Weighted Average Grant-Date Fair Value | $12.33 |
Nonvested shares, Forfeited, Weighted Average Grant-Date Fair Value | $15.11 |
Nonvested shares, Reinvested dividend equivalents, Weighted Average Grant-Date Fair Value | $11.26 |
Nonvested shares, Weighted Average Grant-Date Fair Value, Ending of Period | $11.87 |
StockBased_Compensation_Summar2
Stock-Based Compensation - Summary of the Activity in the Stock Option Plan (Detail) (USD $) | 12 Months Ended |
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Stock Based Compensation [Abstract] | ' |
Outstanding, Shares, Beginning Balance | 3,371 |
Granted, Shares | ' |
Acquired, Shares | ' |
Exercised, Shares | -99 |
Forfeited/expired, Shares | -1,928 |
Outstanding, Shares, Ending Balance | 1,344 |
Options exercisable at end of year, Shares | 1,344 |
Weighted Average Exercise Price, Beginning of Period | $18.91 |
Granted, Weighted Average Exercise Price | ' |
Acquired, Weighted Average Exercise Price | ' |
Exercised, Weighted Average Exercise Price | $11.68 |
Forfeited/expired, Weighted Average Exercise Price | $20.64 |
Weighted Average Exercise Price, End of Period | $16.96 |
Options exercisable at end of year, Weighted Average Exercise Price | $16.96 |
Weighted Average Remaining Contractual Term in Years, End of Period | '2 years 7 months 28 days |
Options exercisable at end of year, Weighted Average Remaining Contractual Terms in Years | '2 years 7 months 28 days |
Aggregate Intrinsic Value, End of Period | $845,600 |
Options exercisable at end of year, Aggregate Intrinsic Value | $845,600 |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Information Related to the Stock Option Plan (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Based Compensation [Abstract] | ' | ' | ' |
Intrinsic value of options exercised | $282 | $256 | $175 |
Cash received from option exercises | 1,159 | 716 | 140 |
Tax benefit realized from option exercises | $45 | $72 | ' |
Outside_Director_Stock_Compens1
Outside Director Stock Compensation Program - Additional Information (Detail) | Dec. 31, 2013 |
Outside Director Stock Compensation Program [Line Items] | ' |
Program stock shares available for issuance | 5,000,000 |
Outside Director Stock Compensation Program [Member] | ' |
Outside Director Stock Compensation Program [Line Items] | ' |
Shares, issued | 95,597 |
Outside Director Stock Compensation Program [Member] | Maximum [Member] | ' |
Outside Director Stock Compensation Program [Line Items] | ' |
Program stock shares available for issuance | 165,375 |
Shareholders_Equity_Additional
Shareholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 16, 2012 | |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Authorized and unissued common shares reserved for issuance | 150,000,000 | 150,000,000 | ' | ' |
Common stock issued | 290,000 | 254,000 | 222,000 | ' |
Dividend Reinvestment and Stock Purchase Plan [Member] | ' | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Authorized and unissued common shares reserved for issuance | 3,300,000 | ' | ' | 3,300,000 |
Shares issued related to dividend reinvestment and stock purchase plan | 0 | 0 | 0 | ' |
Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Shares issued related to dividend reinvestment and stock purchase plan | 22,000 | 21,000 | ' | ' |
Common shares purchase price as percentage of fair market value | 95.00% | ' | ' | ' |
Maximum value of shares purchased as percentage of employee compensation | 10.00% | ' | ' | ' |
Common stock issued | 290,000 | 254,000 | ' | ' |
Employee Stock Purchase Plan [Member] | Maximum [Member] | ' | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Number of shares available for purchase, maximum | 500,000 | ' | ' | ' |
Fair_Value_Schedule_of_Fair_Va
Fair Value - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Trading securities | $3,566 | $3,097 |
Total investment securities - available-for-sale | 2,372,201 | 2,500,784 |
U.S. Treasury [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 13,113 | 11,841 |
U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 435,588 | 517,325 |
Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 1,289,258 | 1,163,788 |
Mortgage-Backed Securities - Non-Agency [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 17,412 | 30,196 |
States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 268,795 | 577,324 |
Pooled Trust Preferred Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 8,037 | 9,359 |
Other Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 339,988 | 190,951 |
Residential Loans Held for Sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 7,705 | 12,591 |
Derivative Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative assets | 22,087 | 36,512 |
Derivative Liability [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative liabilities | 19,723 | 30,010 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Trading securities | 3,566 | 3,097 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 13,113 | 11,841 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-Backed Securities - Non-Agency [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Pooled Trust Preferred Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 31,254 | 32,762 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential Loans Held for Sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Derivative Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Derivative Liability [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative liabilities | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Trading securities | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 435,588 | 517,325 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 1,289,258 | 1,163,788 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities - Non-Agency [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 17,412 | 30,196 |
Significant Other Observable Inputs (Level 2) [Member] | States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 268,126 | 576,340 |
Significant Other Observable Inputs (Level 2) [Member] | Pooled Trust Preferred Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 308,734 | 158,189 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Loans Held for Sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 7,705 | 12,591 |
Significant Other Observable Inputs (Level 2) [Member] | Derivative Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative assets | 22,087 | 36,512 |
Significant Other Observable Inputs (Level 2) [Member] | Derivative Liability [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative liabilities | 19,723 | 30,010 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Trading securities | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage-Backed Securities - Non-Agency [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 669 | 984 |
Significant Unobservable Inputs (Level 3) [Member] | Pooled Trust Preferred Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | 8,037 | 9,359 |
Significant Unobservable Inputs (Level 3) [Member] | Other Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Residential Loans Held for Sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total investment securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Derivative Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Derivative Liability [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Derivative liabilities | ' | ' |
Fair_Value_Reconciliation_of_A
Fair Value - Reconciliation of All Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Accretion/(amortization) of discount or premium | $22,000 | $24,000 |
Credit loss write-downs | -1,000,000 | -476,000 |
Significant Unobservable Inputs (Level 3) [Member] | Pooled Trust Preferred Securities Available-for-Sale [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 9,359,000 | 7,327,000 |
Accretion/(amortization) of discount or premium | 17,000 | 17,000 |
Sales/ payments received | -2,929,000 | -87,000 |
Credit loss write-downs | -1,000,000 | ' |
Increase/(decrease) in fair value of securities | 2,590,000 | -476,000 |
Transfer in | ' | 2,578,000 |
Ending balance | 8,037,000 | 9,359,000 |
Significant Unobservable Inputs (Level 3) [Member] | States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | 984,000 | 1,306,000 |
Accretion/(amortization) of discount or premium | 5,000 | 7,000 |
Matured securities | -320,000 | -329,000 |
Ending balance | $669,000 | $984,000 |
Fair_Value_Additional_Informat
Fair Value - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
States and Political Subdivisions [Member] | Valuation Allowance, Real Estate Owned [Member] | Impaired Commercial and Commercial Real Estate Loans [Member] | Impaired Commercial and Commercial Real Estate Loans [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of discounts on securities included in interest income | ' | ' | $22,000 | $24,000 | ' | ' | ' | ' |
Credit loss included in noninterest income | ' | ' | 1,000,000 | 476,000 | ' | ' | ' | ' |
Mutual fund securities transferred to Level 1 | ' | ' | ' | 32,800,000 | ' | ' | ' | ' |
Securities transferred to Level 3 | ' | ' | ' | ' | 1,300,000 | ' | ' | ' |
Principal amount of impaired commercial and commercial real estate loans | ' | ' | ' | ' | ' | ' | 25,400,000 | 34,100,000 |
Valuation allowance | ' | ' | ' | ' | ' | ' | 8,300,000 | 6,800,000 |
Provision for loan losses expensed | ' | ' | 6,900,000 | 4,000,000 | ' | ' | ' | ' |
Net carrying amount other real estate owned and other repossessed property | ' | ' | ' | 24,500,000 | ' | 9,400,000 | ' | ' |
Other real estate owned property write-downs | ' | ' | 2,400,000 | 15,300,000 | ' | ' | ' | ' |
Finance leases held for sale | 11,600,000 | 11,600,000 | ' | ' | ' | ' | ' | ' |
Loss recognized due to transfer of leases | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' |
Past due period of mortgage loans held for sale, days | ' | ' | '90 days | ' | ' | ' | ' | ' |
Interest income for residential loans held for sale | ' | ' | $365,000 | $193,000 | ' | ' | ' | ' |
Fair_Value_Quantitative_Inform
Fair Value - Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Percentage of illiquid local municipality issuance owned carried at par | 100.00% | ' |
Pooled Trust Preferred Securities [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Fair Value | $8,037 | ' |
Valuation Techniques | 'Discounted cash flow | ' |
Pooled Trust Preferred Securities [Member] | Minimum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Additional asset defaults | 1.90% | ' |
Expected asset recoveries | 1.70% | ' |
Pooled Trust Preferred Securities [Member] | Maximum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Additional asset defaults | 9.60% | ' |
Expected asset recoveries | 9.60% | ' |
Pooled Trust Preferred Securities [Member] | Weighted Average [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Additional asset defaults | 4.50% | ' |
Expected asset recoveries | 3.20% | ' |
States and Political Subdivisions [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Fair Value | 669 | ' |
Valuation Techniques | 'Discounted cash flow | ' |
Commercial Loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Fair Value | 9,224 | 14,159 |
Valuation Techniques | 'Fair value of collateral | 'Fair value of collateral |
Range (Weighted Average) | 24.00% | 25.00% |
Commercial Loans [Member] | Minimum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 0.00% | 0.00% |
Commercial Loans [Member] | Maximum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 75.00% | 50.00% |
Commercial Real Estate Loan [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Fair Value | 7,851 | 13,111 |
Valuation Techniques | 'Fair value of collateral | 'Fair value of collateral |
Commercial Real Estate Loan [Member] | Minimum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 10.00% | 10.00% |
Commercial Real Estate Loan [Member] | Maximum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 54.00% | 40.00% |
Commercial Real Estate Loan [Member] | Weighted Average [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 30.00% | 25.00% |
Commercial Real Estate Foreclosed Assets [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Fair Value | 9,069 | 24,032 |
Valuation Techniques | 'Fair value of collateral | 'Fair value of collateral |
Commercial Real Estate Foreclosed Assets [Member] | Minimum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 10.00% | 10.00% |
Commercial Real Estate Foreclosed Assets [Member] | Maximum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 40.00% | 40.00% |
Commercial Real Estate Foreclosed Assets [Member] | Weighted Average [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 25.00% | 25.00% |
Residential Foreclosed Assets [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Fair Value | $283 | $471 |
Valuation Techniques | 'Fair value of collateral | 'Fair value of collateral |
Residential Foreclosed Assets [Member] | Minimum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 10.00% | 10.00% |
Residential Foreclosed Assets [Member] | Maximum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 45.00% | 45.00% |
Residential Foreclosed Assets [Member] | Weighted Average [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Discount for type of property, age of appraisal and current status | 25.00% | 25.00% |
Fair_Value_Quantitative_Inform1
Fair Value - Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurements (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' |
Percentage of adjusted specific issuer evaluation defaults | 50.00% |
Percentage of adjusted specific issuer evaluation recoveries | 25.00% |
Minimum [Member] | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' |
Percentage of adjusted specific issuer evaluation defaults | 0.00% |
Minimum [Member] | Pooled Trust Preferred Securities [Member] | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' |
Percentage of adjusted specific issuer evaluation recoveries | 0.00% |
Maximum [Member] | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' |
Percentage of adjusted specific issuer evaluation defaults | 100.00% |
Maximum [Member] | Pooled Trust Preferred Securities [Member] | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' |
Percentage of adjusted specific issuer evaluation recoveries | 100.00% |
Fair_Value_Assets_Measured_at_
Fair Value - Assets Measured at Fair Value on a Non-Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commercial Loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | $9,224 | $14,159 |
Commercial Real Estate Loan [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | 7,851 | 13,111 |
Commercial Real Estate Foreclosed Assets [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | 9,069 | 24,032 |
Residential [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | 283 | 471 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Real Estate Loan [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Real Estate Foreclosed Assets [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Real Estate Loan [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Real Estate Foreclosed Assets [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Residential [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Loans [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | 9,224 | 14,159 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate Loan [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Collateral Dependent Impaired Loans fair value disclosure | 7,851 | 13,111 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate Foreclosed Assets [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | 9,069 | 24,032 |
Significant Unobservable Inputs (Level 3) [Member] | Residential [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Foreclosed Assets fair value disclosure | $283 | $471 |
Fair_Value_Schedule_of_Differe
Fair Value - Schedule of Difference between the Aggregate Fair Value and the Aggregate Remaining Principal Balance (Detail) (Residential Loans Held for Sale [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Residential Loans Held for Sale [Member] | ' | ' |
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ' | ' |
Aggregate Fair Value | $7,705 | $12,591 |
Difference | 128 | 354 |
Contractual Principal | $7,577 | $12,237 |
Fair_Value_Changes_in_Fair_Val
Fair Value - Changes in Fair Value for Items Measured at Fair Value Pursuant to Election of the Fair Value (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest (Expense) | ($4,945) | ($5,898) | ($6,491) | ($7,052) | ($8,039) | ($8,622) | ($9,291) | ($9,990) | ($24,386) | ($35,942) | ($53,720) |
Residential Loans Held for Sale [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Gains and (Losses) | ' | ' | ' | ' | ' | ' | ' | ' | -224 | 253 | ' |
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' |
Interest (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' |
Total Changes in Fair Values Included in Current Period Earnings | ' | ' | ' | ' | ' | ' | ' | ' | ($226) | $255 | ' |
Fair_Value_Carrying_Amounts_an
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments, Not Previously Presented (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | $762,734 | $402,828 | ' |
Federal Home Loan Bank stock | 40,584 | 37,927 | ' |
FDIC indemnification asset | 88,513 | 116,624 | 168,881 |
Accrued interest receivable | 50,205 | 46,979 | ' |
Noninterest-bearing demand deposits | 2,026,490 | 2,007,770 | ' |
Time deposits | 1,017,975 | 1,281,281 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Cash, due from banks, federal funds sold and money market investments | 206,723 | 264,060 | ' |
Accrued interest receivable | 42 | 43 | ' |
Noninterest-bearing demand deposits | 2,026,490 | 2,007,770 | ' |
NOW, savings and money market deposits | 4,166,438 | 3,989,902 | ' |
Federal funds purchased | 115,103 | 231,688 | ' |
Repurchase agreements | 347,226 | 358,123 | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Federal Home Loan Bank stock | 40,584 | 37,927 | ' |
Accrued interest receivable | 20,708 | 20,701 | ' |
Time deposits | 1,028,043 | 1,308,111 | ' |
Junior subordinated debenture | 17,605 | 16,255 | ' |
Repurchase agreements | 52,633 | 53,422 | ' |
Capital lease obligation | 5,245 | 5,657 | ' |
Accrued interest payable | 1,877 | 3,308 | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Commercial | 1,414,184 | 1,424,103 | ' |
Commercial real estate | 1,273,070 | 1,475,066 | ' |
Residential real estate | 1,475,710 | 1,458,672 | ' |
Consumer credit | 1,058,021 | 1,030,990 | ' |
FDIC indemnification asset | 55,368 | 106,976 | ' |
Accrued interest receivable | 29,455 | 26,235 | ' |
Federal Home Loan Bank advances | 485,759 | 170,664 | ' |
Standby letters of credit | 380 | 357 | ' |
Commitments to extend credit | 1,648 | 2,305 | ' |
U.S. Government-Sponsored Entities and Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 178,370 | 188,263 | ' |
Mortgage-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 36,349 | 58,919 | ' |
States and Political Subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 556,670 | 169,282 | ' |
States and Political Subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 566,039 | 183,021 | ' |
Other Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | ' | 2,998 | ' |
Other Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | ' | 2,998 | ' |
Carrying Value [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Cash, due from banks, federal funds sold and money market investments | 206,723 | 264,060 | ' |
Federal Home Loan Bank stock | 40,584 | 37,927 | ' |
Commercial | 1,386,185 | 1,377,817 | ' |
Commercial real estate | 1,220,417 | 1,407,420 | ' |
Residential real estate | 1,384,183 | 1,356,922 | ' |
Consumer credit | 1,045,034 | 999,672 | ' |
FDIC indemnification asset | 88,513 | 116,624 | ' |
Accrued interest receivable | 50,205 | 46,979 | ' |
Noninterest-bearing demand deposits | 2,026,490 | 2,007,770 | ' |
NOW, savings and money market deposits | 4,166,438 | 3,989,902 | ' |
Time deposits | 1,017,975 | 1,281,281 | ' |
Federal funds purchased | 115,103 | 231,688 | ' |
Repurchase agreements | 347,229 | 358,127 | ' |
Junior subordinated debenture | 28,000 | 28,000 | ' |
Repurchase agreements | 50,000 | 50,000 | ' |
Federal Home Loan Bank advances | 447,856 | 155,323 | ' |
Capital lease obligation | 4,157 | 4,211 | ' |
Accrued interest payable | 1,877 | 3,308 | ' |
Standby letters of credit | 380 | 357 | ' |
Carrying Value [Member] | U.S. Government-Sponsored Entities and Agencies [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 170,621 | 173,936 | ' |
Carrying Value [Member] | Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 35,443 | 56,612 | ' |
Carrying Value [Member] | States and Political Subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 556,607 | 169,282 | ' |
Carrying Value [Member] | Other Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | ' | $2,998 | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Notional amount | $464.50 | $41 |
Fixed Interest Swap [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount | 39.5 | 41 |
Variable Interest Rate Swap [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount | 425 | ' |
Interest Rate Lock Commitments [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount | 10.5 | 23.4 |
Forward Commitments [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount | 17.2 | 32 |
Customer Derivative Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount | 436.8 | 456.1 |
Offsetting Counter Party Derivative Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount | $436.80 | $456.10 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Summary of Fair Value of Derivative Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Total derivative assets | $22,087 | $36,512 |
Total derivative liabilities | 19,723 | 30,010 |
Designated as Hedging Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative assets | 3,545 | 6,458 |
Total derivative liabilities | 1,218 | ' |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Assets [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative assets | 3,545 | 6,458 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Liabilities [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative liabilities | 1,218 | ' |
Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative assets | 18,542 | 30,054 |
Total derivative liabilities | 18,505 | 30,010 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Assets [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative assets | 18,279 | 29,475 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Liabilities [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative liabilities | 18,505 | 29,909 |
Not Designated as Hedging Instrument [Member] | Mortgage Contracts [Member] | Other Assets [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative assets | 263 | 579 |
Not Designated as Hedging Instrument [Member] | Mortgage Contracts [Member] | Other Liabilities [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total derivative liabilities | ' | $101 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Schedule of Effect of Derivative Instruments on the Consolidated Statements of Income (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | $1,715 | $2,791 |
Cash Flow Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | ' | 241 |
Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | -6 | 404 |
Interest Rate Contract [Member] | Interest Income / (Expense) [Member] | Fair Value Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | 1,748 | 2,114 |
Interest Rate Contract [Member] | Interest Income / (Expense) [Member] | Cash Flow Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | ' | 241 |
Interest Rate Contract [Member] | Other Income / (Expense) [Member] | Fair Value Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | -33 | 677 |
Interest Rate Contract [Member] | Other Income / (Expense) [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | 209 | 143 |
Mortgage Contracts [Member] | Mortgage Banking Revenue [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative | ($215) | $261 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 |
Office | ||||
FinancialCenters | ||||
Lease | ||||
Commitments And Contingencies [Line Items] | ' | ' | ' | ' |
Amount accrued in anticipation of negotiating final settlement and resolution | ' | ' | ' | $2 |
Sale leaseback transaction, number of units | 118 | ' | ' | ' |
Sale leaseback transaction, financial centers | 169 | ' | ' | ' |
Number of corporate offices and training centers that are leased | 51 | ' | ' | ' |
Additional successive terms extendable at the option | '4 years | ' | ' | ' |
Period of extendable lease term, in years | '5 years | ' | ' | ' |
Lease term, description | 'Less than one year | ' | ' | ' |
Rent expense | 29.1 | 32 | 33.7 | ' |
Loan commitments | 1,271 | 1,253 | ' | ' |
Fixed rate loan commitment | 1,205 | ' | ' | ' |
Floating rate loan commitment | 66 | ' | ' | ' |
Standby letters of credit | 62 | 63.4 | ' | ' |
Loan commitments fixed interest rate, minimum | 0.00% | ' | ' | ' |
Loan commitments fixed interest rate, maximum | 21.00% | ' | ' | ' |
Allowance for unfunded loan commitments | 2.7 | 4 | ' | ' |
Extended credit | 15.6 | 13.3 | ' | ' |
Unsecured credit extension | $3.20 | $2.10 | ' | ' |
Minimum [Member] | ' | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' | ' |
Lease Term | '1 year | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' | ' |
Lease Term | '24 years | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Summary of Future Minimum Lease Commitments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $31,365 |
2015 | 30,922 |
2016 | 30,720 |
2017 | 30,569 |
2018 | 29,664 |
Thereafter | 234,255 |
Total | $387,495 |
Financial_Guarantees_Additiona
Financial Guarantees - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial Guarantees [Line Items] | ' | ' |
Term of standby letters of credit, years | '1 year | ' |
Notional amount of standby letters of credit | $62 | $63.40 |
Carrying value of letters of credit | 0.4 | 0.4 |
Interest rate swap, notional amount | 464.5 | 41 |
Interest Rate Swap [Member] | ' | ' |
Financial Guarantees [Line Items] | ' | ' |
Interest rate swap, notional amount | $8 | ' |
Regulatory_Restrictions_Additi
Regulatory Restrictions - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Maturities Of Time Deposits [Abstract] | ' | ' | ' | ' |
Reserve balances | ' | $50,300,000 | $47,500,000 | ' |
Cash and due from banks held as collateral | ' | 800,000 | 1,100,000 | ' |
Dividend approval threshold, years | ' | '2 years | ' | ' |
Common stock dividends | 40,000,000 | 40,278,000 | 34,657,000 | 26,513,000 |
Repurchase of preferred stock | $100,000,000 | ' | ' | ' |
Regulatory_Restrictions_Schedu
Regulatory Restrictions - Schedule of Capital Ratios (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Old National Bancorp [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital to risk-weighted assets Actual, Amount | $871,076 | $823,594 |
Tier 1 capital to risk-weighted assets Actual, Amount | 821,281 | 764,224 |
Tier 1 capital to average assets Actual, Amount | 821,281 | 764,224 |
Total capital to risk-weighted assets Actual, Ratio | 15.19% | 14.69% |
Tier 1 capital to risk-weighted assets Actual, Ratio | 14.32% | 13.63% |
Tier 1 capital to average assets Actual, Ratio | 8.92% | 8.53% |
Total capital to risk-weighted assets For Capital Adequacy Purposes, Amount | 458,717 | 448,390 |
Tier 1 capital to risk-weighted assets For Capital Adequacy Purposes, Amount | 229,358 | 224,195 |
Tier 1 capital to average assets For Capital Adequacy Purposes, Amount | 368,092 | 358,493 |
Total capital to risk-weighted assets For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital to average assets For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Old National Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital to risk-weighted assets Actual, Amount | 720,313 | 732,081 |
Tier 1 capital to risk-weighted assets Actual, Amount | 670,518 | 672,710 |
Tier 1 capital to average assets Actual, Amount | 670,518 | 672,710 |
Total capital to risk-weighted assets Actual, Ratio | 12.67% | 13.14% |
Tier 1 capital to risk-weighted assets Actual, Ratio | 11.80% | 12.08% |
Tier 1 capital to average assets Actual, Ratio | 7.35% | 7.57% |
Total capital to risk-weighted assets For Capital Adequacy Purposes, Amount | 454,685 | 445,574 |
Tier 1 capital to risk-weighted assets For Capital Adequacy Purposes, Amount | 227,342 | 222,787 |
Tier 1 capital to average assets For Capital Adequacy Purposes, Amount | 364,793 | 355,633 |
Total capital to risk-weighted assets For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital to average assets For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Total capital to risk-weighted assets For Well Capitalized Purposes, Amount | 568,356 | 556,968 |
Tier 1 capital to risk-weighted assets For Well Capitalized Purposes, Amount | 341,014 | 334,181 |
Tier 1 capital to average assets For Well Capitalized Purposes, Amount | $455,992 | $444,541 |
Total capital to risk-weighted assets For Well Capitalized Purposes, Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets For Well Capitalized Purposes, Ratio | 6.00% | 6.00% |
Tier 1 capital to average assets For Well Capitalized Purposes, Ratio | 5.00% | 5.00% |
Parent_Company_Financial_State2
Parent Company Financial Statements - Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Trading securities-at fair value | $3,566 | $3,097 | ' | ' |
Investment securities-available for sale | 1,200 | ' | ' | ' |
Other assets | 221,293 | 236,002 | ' | ' |
Total assets | 9,581,744 | 9,543,623 | 8,609,683 | ' |
Liabilities and Shareholders' Equity | ' | ' | ' | ' |
Other liabilities | 189,481 | 242,797 | ' | ' |
Other borrowings | 556,388 | ' | ' | ' |
Shareholders' equity | 1,162,640 | 1,194,565 | 1,033,556 | 878,805 |
Total liabilities and shareholders' equity | 9,581,744 | 9,543,623 | ' | ' |
Old National Bancorp [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Deposits in affiliate bank | 75,637 | 39,262 | ' | ' |
Trading securities-at fair value | 3,566 | 3,097 | ' | ' |
Investment securities-available for sale | 2,025 | 1,826 | ' | ' |
Investment in affiliates, Banking subsidiaries | 989,585 | 1,073,721 | ' | ' |
Investment in affiliates, Non-banks | 42,706 | 43,067 | ' | ' |
Other assets | 103,423 | 85,540 | ' | ' |
Total assets | 1,216,942 | 1,246,513 | ' | ' |
Liabilities and Shareholders' Equity | ' | ' | ' | ' |
Other liabilities | 29,564 | 27,287 | ' | ' |
Other borrowings | 24,738 | 24,661 | ' | ' |
Shareholders' equity | 1,162,640 | 1,194,565 | ' | ' |
Total liabilities and shareholders' equity | $1,216,942 | $1,246,513 | ' | ' |
Parent_Company_Financial_State3
Parent Company Financial Statements - Statements of Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net securities gains | ' | ' | ' | ' | ' | ' | ' | ' | $4,341 | $15,052 | $8,691 |
Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on borrowings | 4,945 | 5,898 | 6,491 | 7,052 | 8,039 | 8,622 | 9,291 | 9,990 | 24,386 | 35,942 | 53,720 |
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 21,300 | 15,953 | 15,042 |
Income before income taxes | 35,151 | 30,817 | 42,212 | 34,337 | 34,029 | 25,598 | 38,095 | 30,063 | 142,517 | 127,785 | 99,762 |
Income tax benefit | -10,602 | -6,869 | -13,734 | -10,392 | -11,020 | -5,861 | -10,889 | -8,340 | -41,597 | -36,110 | -27,302 |
Net Income | 24,549 | 23,948 | 28,478 | 23,945 | 23,009 | 19,737 | 27,206 | 21,723 | 100,920 | 91,675 | 72,460 |
Old National Bancorp [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends from affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 116,073 | 53,042 | 19,670 |
Net securities gains | ' | ' | ' | ' | ' | ' | ' | ' | 416 | 165 | 20 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 1,864 | 1,710 | 1,372 |
Other income (loss) from affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 138 | 153 | -1 |
Total income | ' | ' | ' | ' | ' | ' | ' | ' | 118,491 | 55,070 | 21,061 |
Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on borrowings | ' | ' | ' | ' | ' | ' | ' | ' | 624 | 786 | 1,270 |
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 11,228 | 14,270 | 9,572 |
Total expense | ' | ' | ' | ' | ' | ' | ' | ' | 11,852 | 15,056 | 10,842 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 106,639 | 40,014 | 10,219 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -4,044 | -5,909 | -3,819 |
Income before equity in undistributed earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 110,683 | 45,923 | 14,038 |
Equity in undistributed earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -9,763 | 45,752 | 58,422 |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | $100,920 | $91,675 | $72,460 |
Parent_Company_Financial_State4
Parent Company Financial Statements - Statement of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash Flows From Operating Activities | ' | ' | ' |
Net income | $100,920,000 | $91,675,000 | $72,460,000 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' |
Depreciation | 11,227,000 | 11,306,000 | 9,674,000 |
(Increase) decrease in other assets | -14,927,000 | -33,149,000 | 16,363,000 |
(Decrease) increase in other liabilities | 11,723,000 | -14,630,000 | 12,276,000 |
Total adjustments | 64,491,000 | 22,615,000 | 70,626,000 |
Net cash flows provided by operating activities | 165,411,000 | 114,290,000 | 143,086,000 |
Cash Flows From Investing Activities | ' | ' | ' |
Purchases of investment securities | -1,231,117,000 | -1,031,124,000 | -550,934,000 |
Proceeds from sales of investment securities available-for-sale | 231,806,000 | 227,566,000 | 545,995,000 |
Purchases of premises and equipment | -18,617,000 | -18,712,000 | -11,486,000 |
Net cash flows provided by (used in) investing activities | 100,954,000 | -11,692,000 | 1,005,973,000 |
Cash Flows From Financing Activities | ' | ' | ' |
Payments related to retirement of debt | -2,521,000 | -3,087,000 | -153,383,000 |
Cash dividends paid on common stock | -40,278,000 | -34,657,000 | -26,513,000 |
Common stock repurchased | -24,292,000 | -3,990,000 | -1,526,000 |
Common stock reissued under stock option, restricted stock and stock purchase plans | 1,412,000 | 717,000 | 140,000 |
Common stock issued | 290,000 | 254,000 | 222,000 |
Net cash flows provided by (used in) financing activities | -323,702,000 | -61,410,000 | -1,177,739,000 |
Net increase (decrease) in cash and cash equivalents | -57,337,000 | 41,188,000 | -28,680,000 |
Cash and cash equivalents at beginning of period | 264,060,000 | 222,872,000 | 251,552,000 |
Cash and cash equivalents at end of period | 206,723,000 | 264,060,000 | 222,872,000 |
Old National Bancorp [Member] | ' | ' | ' |
Cash Flows From Operating Activities | ' | ' | ' |
Net income | 100,920,000 | 91,675,000 | 72,460,000 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' |
Depreciation | 8,000 | 15,000 | 31,000 |
Net securities (gains) losses | -416,000 | -134,000 | -20,000 |
Stock compensation expense | 3,958,000 | 3,317,000 | 3,436,000 |
(Increase) decrease in other assets | -17,972,000 | 9,056,000 | -4,927,000 |
(Decrease) increase in other liabilities | 3,095,000 | -496,000 | 3,628,000 |
Equity in undistributed earnings of affiliates | 9,763,000 | -45,752,000 | -58,422,000 |
Total adjustments | -1,564,000 | -33,994,000 | -56,274,000 |
Net cash flows provided by operating activities | 99,356,000 | 57,681,000 | 16,186,000 |
Cash Flows From Investing Activities | ' | ' | ' |
Cash and cash equivalents of acquisitions | ' | 1,000 | 447,000 |
Purchases of investment securities | -53,000 | -147,000 | ' |
Proceeds from sales of investment securities available-for-sale | ' | ' | 1,081,000 |
Net payments from (advances to) affiliates | ' | ' | 18,886,000 |
Purchases of premises and equipment | -60,000 | -173,000 | ' |
Net cash flows provided by (used in) investing activities | -113,000 | -319,000 | 20,414,000 |
Cash Flows From Financing Activities | ' | ' | ' |
Payments related to retirement of debt | ' | -16,000,000 | ' |
Cash dividends paid on common stock | -40,278,000 | -34,657,000 | -26,513,000 |
Common stock repurchased | -24,292,000 | -3,990,000 | -1,526,000 |
Common stock reissued under stock option, restricted stock and stock purchase plans | 1,412,000 | 717,000 | 140,000 |
Common stock issued | 290,000 | 254,000 | 222,000 |
Net cash flows provided by (used in) financing activities | -62,868,000 | -53,676,000 | -27,677,000 |
Net increase (decrease) in cash and cash equivalents | 36,375,000 | 3,686,000 | 8,923,000 |
Cash and cash equivalents at beginning of period | 39,262,000 | 35,576,000 | 26,653,000 |
Cash and cash equivalents at end of period | $75,637,000 | $39,262,000 | $35,576,000 |
Segment_Information_Schedule_o
Segment Information - Schedule of Financial Information Concerning Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | $81,187 | $77,996 | $79,191 | $79,050 | $84,361 | $74,150 | $75,973 | $74,273 | $317,424 | $308,757 | $272,873 |
Noninterest income | 44,444 | 47,755 | 46,244 | 46,315 | 51,274 | 40,867 | 48,542 | 49,133 | 184,758 | 189,816 | 182,883 |
Noncash items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and software amortization | ' | ' | ' | ' | ' | ' | ' | ' | 12,523 | 13,104 | 12,136 |
Provision for loan losses | 2,253 | -1,724 | -3,693 | 845 | 2,181 | 400 | 393 | 2,056 | -2,319 | 5,030 | 7,473 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 8,162 | 7,941 | 8,829 |
Income tax expense (benefit) | 10,602 | 6,869 | 13,734 | 10,392 | 11,020 | 5,861 | 10,889 | 8,340 | 41,597 | 36,110 | 27,302 |
Segment profit | 24,549 | 23,948 | 28,478 | 23,945 | 23,009 | 19,737 | 27,206 | 21,723 | 100,920 | 91,675 | 72,460 |
Segment assets | 9,581,744 | ' | ' | ' | 9,543,623 | ' | ' | ' | 9,581,744 | 9,543,623 | 8,609,683 |
Banking [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 317,869 | 309,259 | 274,063 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 119,795 | 129,202 | 124,254 |
Noncash items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and software amortization | ' | ' | ' | ' | ' | ' | ' | ' | 12,060 | 11,837 | 10,750 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | -2,319 | 5,030 | 7,473 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 5,759 | 5,495 | 6,570 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 43,114 | 39,430 | 30,222 |
Segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 102,097 | 95,146 | 76,781 |
Segment assets | 9,431,228 | ' | ' | ' | 9,399,444 | ' | ' | ' | 9,431,228 | 9,399,444 | 8,472,196 |
Insurance [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 15 | 21 | 18 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 38,657 | 36,732 | 36,624 |
Noncash items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and software amortization | ' | ' | ' | ' | ' | ' | ' | ' | 142 | 271 | 325 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 1,673 | 1,841 | 1,785 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 1,052 | 1,397 | 1,208 |
Segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 1,925 | 1,755 | 1,866 |
Segment assets | 65,328 | ' | ' | ' | 62,956 | ' | ' | ' | 65,328 | 62,956 | 62,321 |
Wealth Management [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | 44 | 62 | 77 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 24,158 | 22,208 | 21,120 |
Noncash items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and software amortization | ' | ' | ' | ' | ' | ' | ' | ' | 22 | 32 | 37 |
Amortization of intangibles | ' | ' | ' | ' | ' | ' | ' | ' | 730 | 605 | 474 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 1,375 | 1,139 | -253 |
Segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 2,168 | 1,736 | -480 |
Segment assets | 15,121 | ' | ' | ' | 13,837 | ' | ' | ' | 15,121 | 13,837 | 14,910 |
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' | ' | ' | ' | ' | -504 | -585 | -1,285 |
Noninterest income | ' | ' | ' | ' | ' | ' | ' | ' | 2,148 | 1,674 | 885 |
Noncash items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and software amortization | ' | ' | ' | ' | ' | ' | ' | ' | 299 | 964 | 1,024 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -3,944 | -5,856 | -3,875 |
Segment profit | ' | ' | ' | ' | ' | ' | ' | ' | -5,270 | -6,962 | -5,707 |
Segment assets | $70,067 | ' | ' | ' | $67,386 | ' | ' | ' | $70,067 | $67,386 | $60,256 |
Interim_Financial_Data_Unaudit2
Interim Financial Data (Unaudited) - Interim Financial Data (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $86,132 | $83,894 | $85,682 | $86,102 | $92,400 | $82,772 | $85,264 | $84,263 | $341,810 | $344,699 | $326,593 |
Interest expense | 4,945 | 5,898 | 6,491 | 7,052 | 8,039 | 8,622 | 9,291 | 9,990 | 24,386 | 35,942 | 53,720 |
Net interest income | 81,187 | 77,996 | 79,191 | 79,050 | 84,361 | 74,150 | 75,973 | 74,273 | 317,424 | 308,757 | 272,873 |
Provision for loan losses | 2,253 | -1,724 | -3,693 | 845 | 2,181 | 400 | 393 | 2,056 | -2,319 | 5,030 | 7,473 |
Noninterest income | 44,444 | 47,755 | 46,244 | 46,315 | 51,274 | 40,867 | 48,542 | 49,133 | 184,758 | 189,816 | 182,883 |
Noninterest expense | 88,227 | 96,658 | 86,916 | 90,183 | 99,425 | 89,019 | 86,027 | 91,287 | 361,984 | 365,758 | 348,521 |
Income before income taxes | 35,151 | 30,817 | 42,212 | 34,337 | 34,029 | 25,598 | 38,095 | 30,063 | 142,517 | 127,785 | 99,762 |
Income tax expense | 10,602 | 6,869 | 13,734 | 10,392 | 11,020 | 5,861 | 10,889 | 8,340 | 41,597 | 36,110 | 27,302 |
Net income | $24,549 | $23,948 | $28,478 | $23,945 | $23,009 | $19,737 | $27,206 | $21,723 | $100,920 | $91,675 | $72,460 |
Net income per share, Basic | $0.24 | $0.24 | $0.28 | $0.24 | $0.23 | $0.20 | $0.29 | $0.23 | $1 | $0.95 | $0.76 |
Net income per share, Diluted | $0.25 | $0.23 | $0.28 | $0.24 | $0.23 | $0.20 | $0.29 | $0.23 | $1 | $0.95 | $0.76 |
Average shares, Basic | 100,153 | 100,645 | 100,981 | 101,081 | 101,069 | 95,690 | 94,514 | 94,445 | 100,712 | 96,440 | 94,467 |
Average shares, Diluted | 100,718 | 101,131 | 101,352 | 101,547 | 101,550 | 96,125 | 94,871 | 94,833 | 101,198 | 96,833 | 94,772 |