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Old National Bancorp’s 2015 Net Income of $116.7 million is 12.6% over last year; Fourth Quarter caps successful year

Old National Bancorp’s 2015 Net Income of $116.7 million is 12.6% over last year; Fourth Quarter caps successful year

Bill Stephens

February 1st, 2016

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4TH QUARTER HIGHLIGHTS:
 Earnings of $32.0 million, or $.27 per common share
 Organic loan growth of $102.0 million, or 6.0% annualized, over 3Q15, excluding covered loans
 Continued decline in noninterest expenses
 Tangible book value1 increase of 2.3%

2015 HIGHLIGHTS:
 Earnings of $116.7 million represent a 12.6% increase over 2014 ($103.7 million)
 Organic loan growth of $324.1 million or 5.1%, excluding covered, acquired & sold loans
 Loan production of $2.8 billion is 39.2% over 2014 production
 Credit quality remains strong
 Transformation strategy reflects successful partnership integrations
1Tangible book value is a non-GAAP measure – refer to Table G for non-GAAP reconciliation

Evansville, Ind. (February 1, 2016) – Today Old National Bancorp (the “Company” or “Old National”)
(NASDAQ: ONB) reported 4th quarter 2015 net income of $32.0 million, or $.27 per share. These reported
quarterly results compare to net income of $37.7 million in the 3rd quarter of 2015 and $29.3 million recorded in the
4th quarter of 2014.

Included in 4th quarter 2015 results were $11.1 million in pre-tax gains related primarily to the repurchase of 14
banking properties. Also included in the current quarter were $2.4 million in pre-tax charges related to continued
efficiency initiatives as well as a $4.8 million pre-tax charge for a litigation settlement. Excluding the impact of
these items, Old National would have reported net income of $29.4 million, or $.25 per share. Refer to Table 1 for
Non-GAAP reconciliation.

For the twelve months ended December 31, 2015, net income was $116.7 million, or $1.00 per share. This net
income represents an increase of 12.6% to full-year 2014 net income of $103.7 million, or $.95 per share.

Old National Bancorp President & CEO Bob Jones stated, “Our strong 4th quarter performance provides a fitting
ending to 2015 – a year focused on execution. Our continued loan growth, lower expenses and excellent credit
quality metrics, combined with our latest partnership and entry into the state of Wisconsin, should position us for

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