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Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
Q1 2009 Earning Report of Old National Bancorp Inc.
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Q1 2009 Earning Report of Old National Bancorp Inc.

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  • 1. First-Quarter 2009 Review April 27, 2009
  • 2. Lynell Walton Senior Vice President Investor Relations 2
  • 3. Forward-Looking Statement This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends, profitability and projected earnings. Forward-looking statements can be identified by the use of words quot;anticipate,quot; quot;believe,quot; quot;expect,quot; quot;intend,quot; quot;could,quot; and quot;should,quot; and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties and there are a number of factors that could cause actual results to differ materially from those in such statements. Factors that might cause such a difference include, but are not limited to, market, economic, operational, liquidity, credit and interest rate risks associated with Old National's business, competition, government legislation and policies, ability of Old National to execute its business plan, including acquisition plans, changes in the economy which could materially impact credit quality trends and the ability to generate loans and gather deposits, failure or circumvention of our internal controls, failure or disruption of our information systems, significant changes in accounting, tax or regulatory practices or requirements, new legal obligations or liabilities or unfavorable resolution of litigation, other matters discussed in this presentation and other factors identified in the Company’s Form 10-K and other periodic filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this presentation, and Old National undertakes no obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this presentation. First-Quarter 2009 Review 3
  • 4. Non-GAAP Financial Measures These slides contain non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of the registrant's historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows (or equivalent statements) of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. In this regard, GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, Old National Bancorp has provided reconciliations within the slides, as necessary, of the non-GAAP financial measure to the most directly comparable GAAP financial measure. First-Quarter 2009 Review 4
  • 5. Agenda • Quarterly overview • Credit quality • Quarterly financial review • Q&A First-Quarter 2009 Review 5
  • 6. Bob Jones President Chief Executive Officer 6
  • 7. Significant Events • Repurchase $100 million TARP • 2Q09 cash dividend reduction will contribute $10 million to $11 million to total capital • Charter One Indiana branch acquisition complete – Adds 65 locations, deposits of $428 million and loans of $5.9 million to March 31, 2009, balances First-Quarter 2009 Review 7
  • 8. First-Quarter 2009 Earnings • Net income of $9.4 million, or $.08 per common share 1Q09 net income $9,405 Preferred stock dividends ($1,242) Accretion charge for preferred stock repurchase ($2,650) 1Q09 net income available to common shareholders $5,513 Average common shares outstanding 65,882 1Q09 earnings per common share $.08 • Tier 1 and total risk-based capital remain well above ‘well capitalized’ regulatory guidelines First-Quarter 2009 Review 8
  • 9. First-Quarter 2009 Highlights • Allowance to total loans increases to 1.55% • Organic demand deposit growth of almost $61 million • Net securities gains of $3.2 million – Includes other-than-temporary- impairment of $2.4 million • Incurred one-time expenses of $3.0 million related to Charter One acquisition First-Quarter 2009 Review 9
  • 10. Adjusted Earnings Per Common Share Non-GAAP Financial Measures 1Q09 net income available to common shareholders $5,513 Add: Preferred stock dividends ($1,242) Add: Accretion charge for preferred stock repurchase ($2,650) Adjusted 1Q09 net income available to common $9,405 shareholders Average common shares outstanding 65,882 Adjusted 1Q09 earnings per common share $.14 $ in thousands except per-share data First-Quarter 2009 Review 10
  • 11. Daryl Moore Executive Vice President Chief Credit Officer 11
  • 12. Credit Metrics Quarterly Net Charge-Offs Peak of 1.85% at 3Q03 1.40% 1.35% 1.14% 1.20% 1.00% 1.07% 0.79% 0.80% 0.68% 0.60% 0.46% 0.52% 0.39% 0.38% 0.46% 0.40% 0.33% 0.32% 0.31% 0.28% 0.20% 05 06 06 06 06 07 07 07 07 08 08 08 08 09 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q First-Quarter 2009 Review 12
  • 13. Credit Metrics Nonaccrual Loans (As a % of end of period loans) Peak of 2.60% at 2Q03 2.00% 1.80% 1.67% 1.60% 1.46% 1.50% 1.34% 1.40% 1.23% 1.20% 1.43% 1.13% 1.20% 1.00% 1.06% 1.06% 1.04% 0.88% 0.95% 0.80% 0.87% 0.60% 0.40% 05 06 07 07 07 07 06 06 06 08 08 08 08 09 4Q 1Q 2Q 4Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q 4Q 1Q First-Quarter 2009 Review 13
  • 14. Credit Metrics Nonaccrual Relationships $2 Million or Greater ($ in millions) 2Q08 3Q08 4Q08 1Q09 Count (#) 8 9 7 10 Total Exposure $35.0 $33.2 $26.0 $37.0 Dollar Outstanding $34.7 $32.3 $25.4 $35.9 Associated Impairment $12.4 $9.2 $6.7 $10.5 Loan Type Breakdown – Outstandings ($ in millions) 1Q09 Commercial $12.5 Commercial Real Estate $23.4 Geographic Concentration – Outstandings ($ in millions) 1Q09 Indianapolis Region $16.5 First-Quarter 2009 Review 14
  • 15. Credit Metrics 90+ Day Delinquent Loans (As a % of End of Period Total Loans) 0.09% 0.08% 0.07% 0.07% 0.06% 0.06% 0.05% 0.05% 0.05% 0.05% 0.04% 0.04% 0.03% 0.04% 0.03% 0.03% 0.03% 0.03% 0.03% 0.02% 0.02% 0.01% 0.01% 0.00% 05 06 06 06 06 07 07 07 07 08 08 08 08 09 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q First-Quarter 2009 Review 15
  • 16. Credit Metrics OREO & Other Repossessed Property (As a % of End of Period Total Loans) 0.18% 0.17% 0.16% 0.15% 0.14% 0.12% 0.10% 0.09% 0.07% 0.07% 0.08% 0.07% 0.07% 0.06% 0.07% 0.06% 0.06% 0.06% 0.04% 0.05% 0.05% 0.05% 0.02% 05 06 06 06 06 07 07 07 07 08 08 08 08 09 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q First-Quarter 2009 Review 16
  • 17. Credit Metrics Classified Loans (includes nonaccrual loans) (As a % of End of Period Total Loans) Peak of 7.90% at 4Q02 4.50% 4.30% 4.25% 4.00% 3.77% 3.75% 3.70% 3.50% 3.40% 3.28% 3.25% 3.25% 2.89%2.83% 3.00% 3.16% 2.73% 2.75% 2.77% 2.70% 2.70% 2.50% 2.45% 2.25% 05 06 06 06 06 07 07 07 07 08 08 08 08 09 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Classified loans are loans with a well-defined weakness that jeopardizes the liquidation of the debt and characterized by the distinct “possibility” that the bank will sustain some loss if the deficiencies are not corrected. First-Quarter 2009 Review 17
  • 18. Credit Metrics Criticized Loans (As a % of End of Period Total Loans) Peak of 6.26% at 1Q02 3.00% 2.75% 2.61% 2.52% 2.54% 2.44% 2.50% 2.20% 2.21% 2.25% 2.00% 2.00% 2.06% 1.87% 1.69% 1.69% 1.75% 1.84% 1.66% 1.50% 1.33% 1.25% 1.00% 05 06 06 06 06 07 07 07 07 08 08 08 08 09 4Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2Q 4Q 1Q 2Q 3Q Criticized loans are loans exhibiting a potential weakness that deserves management’s close attention. First-Quarter 2009 Review 18
  • 19. Credit Metrics 30+ Day Delinquent Loans (As a % of End of Period Total Loans) 1.20% 1.01% 1.00% 0.96% 0.84% 0.80% 0.69% 0.67% 0.68% 0.67% 0.69% 0.69% 0.65% 0.73% 0.60% 0.66% 0.59% 0.49% 0.40% 0.20% 09 06 07 07 07 07 08 08 08 06 08 06 05 06 1Q 1Q 2Q 3Q 4Q 1Q 3Q 4Q 4Q 2Q 3Q 1Q 2Q 4Q First-Quarter 2009 Review 19
  • 20. Credit Metrics 30+ Day Delinquent Loans Specific Segment Overview (As a % of End of Period Total Loans) 1Q08 2Q08 3Q08 4Q08 1Q09 30+ Day Delinquent Loans .50% .45% .39% .58% .48% Commercial .64% .58% .34% .48% .47% Commercial Real Estate 1.39% 1.34% 1.43% 1.81% 1.56% First Mortgage Residential Real Estate .60% .82% .77% .83% .66% Home Equity Lines Of Credit .63% .83% 1.12% 1.30% 1.09% All Other Consumer Loans 2Q08 1Q09 3Q08 4Q08 1Q08 Loan Type as a % of Total Loans 38.5% 38.4% 39.7% 39.0% 37.1% Commercial 25.2% 24.4% 24.9% 24.2% 26.3% Commercial Real Estate 11.5% 11.2% 11.1% 10.8% 10.9% First Mortgage Residential Real Estate 5.2% 5.3% 5.6% 5.7% 5.8% Home Equity Lines of Credit 19.8% 19.9% 19.9% 20.0% 19.6% All Other Consumer Loans First-Quarter 2009 Review 20
  • 21. Credit Metrics Home Equity Lines of Credit Loan-To-Value Overview Approximated % of Total Average Credit Portfolio % of Total LTV Bureau Score Outstanding Portfolio (Face) >= 90% 739 15% 20% >= 80% to 89.9% 18% 20% 760 <80% 771 67% 60% First-Quarter 2009 Review 21
  • 22. Credit Metrics Home Equity Lines of Credit Large Dollar Exposure Overview Approximated % of Total Average Credit Portfolio % of Total Commitment Bureau Score Outstanding Portfolio (Face) >= $500,000 762 4% 3% >$100,000 to $499,999 23% 24% 763 First-Quarter 2009 Review 22
  • 23. CRE as a % of Capital Community Banks Mid-Sized Banks Large Banks ONB 225% 220% 204% 212% 200% 200% 175% 161% 150% 154% 125% 100% 75% 66% 62% 50% 95 96 97 98 99 00 01 02 03 04 05 06 07 07 07 07 08 08 08 08 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Source: OCC per Bank Call Reports. CRE: Construction & Land Development + Multifamily RE + Nonfarm Nonresidential + Unsecured C&I for RE; Capital: Total RBC. *Effective 1Q07, the Call Reports segregated owner and non-owner occupied non-farm non-residential loans, and the proportion was applied retroactively to adjust historical data in order to conform to OCC 2006-46 (Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices: Interagency Guidance on CRE Concentration Risk Management). First-Quarter 2009 Review 23
  • 24. Construction & Land Loans (As a % of end of period loans) 14.00% 12.98% 13.15% 13.06%13.19% 12.82% 12.00% 12.73% 12.60% 12.39% 12.13% 10.00% 8.00% 6.00% 4.00% 4.60% 4.64% 4.15% 4.30% 4.26% 3.88% 3.60% 3.65% 3.21% 2.00% 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 ONB Peer Group Average (refer to appendix) Per SNL Financial-Call Report Data First-Quarter 2009 Review 24
  • 25. Chris Wolking Senior Executive Vice President Chief Financial Officer 25
  • 26. Net Interest Margin • Net interest margin of 3.63% for 1Q09 – Decline of 33bps from 4Q08 – Yield on average loans decline 76 bps – Average earning assets increase $308.5 million – Average investments increase $322.7 million – Average core deposits increase $135.4 million – Net interest income decline of $2.9 million First-Quarter 2009 Review 26
  • 27. Net Interest Margin Analysis 4Q08 Net Interest Margin 3.96% Asset Yields (.56)% Interest-Bearing Liability Costs .23% Mix/Volume/Other .03% # of Days (.03)% 1Q09 Net Interest Margin 3.63% First-Quarter 2009 Review 27
  • 28. Monthly Net Interest Margin 4.10% 4.04% 3.98% 4.00% 3.90% 3.88% 3.87% 3.84% 3.85% 3.80% 3.81% 3.72% 3.78% 3.69% 3.77% 3.75% 3.70% 3.60% 3.50% 3.46% 3.40% Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- 08 08 08 08 08 08 08 08 08 08 09 09 09 First-Quarter 2009 Review 28
  • 29. Deposit Costs 3.63% 3.59% 3.75% 3.57% 3.47% 3.50% 3.33% 3.39% 3.51%3.47% 3.25% 3.08% 3.42% 2.97% 3.33% 3.00% 3.11% 3.01% 3.19% 2.89% 2.75% 2.45% 2.59% 2.50% 2.35% 2.60% 2.24% 2.25% 2.04% 2.00% 2.03% 1.83% 1.75% 1.58% 1.50% 09 08 08 08 07 08 06 06 06 06 07 07 07 4Q 1Q 2Q 3Q 1Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Cost of Interest-Bearing Deposits (including Brokered CDs) Peer Group Average (refer to appendix) First-Quarter 2009 Review 29
  • 30. Tangible Equity Ratios 7.50% 7.08% 7.00% 6.44% 6.50% 6.21% 6.03% 6.06% 6.44% 5.96% 6.00% 6.21% 6.06% 5.96% 6.03% 5.48%5.55% 5.81% 5.50% 5.55% 5.48% 5.23% 5.23% 5.00% 4.50% 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 Tangible Equity Tangible Common Equity (excludes preferred stock) The Company’s targeted range for these ratios is 5% to 6% The Company’s calculation of tangible common equity and corresponding targeted range have been adjusted to include other comprehensive income. First-Quarter 2009 Review 30
  • 31. Liquidity Considerations • Old National Bank – Strong organic deposit growth – Charter One branch acquisition closed 3/20 – Capacity at the Federal Reserve for TAF or discount window borrowing of $846 million – Investment portfolio projected to generate cash flow of $750 million over 12 months • Old National Bancorp – Cash on hand of $15 million at 3/31/09 – 2Q09 dividend reduction will add $10 million to $11 million to cash balances – New line of credit (SunTrust/Wells Fargo) of $30 million First-Quarter 2009 Review 31
  • 32. Long-Term Debt Ratings Holding Bank Outlook Company Outlook (At 4-24-09) A1 Negative Negative Moody’s A2 BBB+ Stable Stable S&P BBB Fitch BBB+ Stable BBB Stable DBRS A (low) Stable BBB (high) Stable First-Quarter 2009 Review 32
  • 33. Investment Portfolio Book Value Market Value Credit Impairment Other Classified Assets Mar. 31, 2009 Mar. 31, 2009 Mar. 31, 2009 Corporate Bonds $4.8 $2.3 $-0- Pooled Trust Preferred Securities $45.2 $10.2 $2.4 Non-Agency Mortgage Backed Securities $46.5 $35.1 $-0- Totals $96.5 $47.6 $2.4 $ in millions First-Quarter 2009 Review 33
  • 34. Investment Portfolio Market Book Value Market Value Market Value Value ($ in millions) Mar. 31, 2009 Mar. 31, 2009 Dec. 31, 2008 $ Change U.S. Government Agencies-Senior Debentures Federal National Mortgage Association $725.5 $189.7 Federal Home Loan Mortgage Corporation 187.1 105.5 Federal Home Loan Bank 82.0 59.0 Federal Farm Credit Bank 24.9 35.1 Subtotal $1,012.6 $1,019.5 $389.3 $630.2 Mortgage Backed Securities Issued or guaranteed by FNMA, FHLMC, GNMA $900.3 $924.8 $957.2 Nonagency guaranteed 268.5 209.2 216.9 Subtotal $1,168.8 $1,134.0 $1,174.1 $(40.1) Corporate Securities Trust Preferred $58.3 $17.3 $28.6 Other Corporate 119.3 113.9 115.8 Subtotal $177.6 $131.2 $144.4 $(13.2) Municipal Securities $465.5 $485.1 $482.2 $2.9 Other Securities $76.9 $76.9 $76.9 -0- Totals $2,901.4 $2,846.7 $2,266.9 $579.8 First-Quarter 2009 Review 34
  • 35. Charter One • One-time 1Q09 acquisition expenses of $3.0 million • Additional one-time expenses anticipated during the remainder of 2009 – 8 branch closures planned for 2009 • Charter One negative impact for 2009 of $8 million to $10 million (pre-tax) including: – Higher net investment spread – Accelerated CDI amortization (7 years) • More clarity on operating expenses on 2Q09 conference call First-Quarter 2009 Review 35
  • 36. Thank you! Questions 36
  • 37. Appendix 37
  • 38. Non-GAAP Reconciliations (end of period balances- $ in millions) 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 Total Shareholders’ Equity $640.7 $625.6 $647.4 $652.9 $675.4 $649.0 $635.4 $730.9 $631.8 Deduct: Goodwill and Intangible Assets (194.4) (192.8) (191.9) (191.0) (190.3) (188.7) (187.8) (186.8) (205.6) Tangible Shareholders’ Equity 446.3 432.8 455.5 461.9 485.1 460.3 447.6 544.1 426.2 Deduct: Preferred Stock -0- -0- -0- -0- -0- -0- -0- 97.4 -0- Tangible Common Shareholders’ Equity 446.3 432.8 455.5 461.9 485.1 460.3 447.6 $446.7 $426.2 Total Assets $8,331.6 $7,987.7 $7,832.5 $7,846.1 $7,723.5 $7,601.8 $7,568.3 $7,873.9 $8,356.1 Add: Trust Overdrafts .3 .2 .1 1.7 .1 .1 .3 1.0 .1 Deduct: Goodwill and Intangible Assets (194.4) (192.8) (191.9) (191.0) (190.3) (188.7) (187.8) (186.8) (205.6) Tangible Assets $8,137.5 $7,795.1 $7,640.7 $7,656.8 $7,533.2 $7,413.1 $7,380.9 $7,688.1 $8,150.6 Tangible Equity to Tangible Assets 5.48% 5.55% 5.96% 6.03% 6.44% 6.21% 6.06% 7.08% 5.23% Tangible Common Equity to Tangible Assets 5.48% 5.55% 5.96% 6.03% 6.44% 6.21% 6.06% 5.81% 5.23% First-Quarter 2009 Review 38
  • 39. Regional Balance Sheet Commercial Loans and Leases 1Q09 4Q08 Actual Actual $ Change % Change ($ in millions) Northeast (Muncie, IN) $143.8 $140.3 $3.5 2.5% Louisville, KY 168.4 167.4 1.0 .6 North Central (Bloomington, IN) 57.8 58.6 (.8) (1.4) Northwest (Terre Haute, IN) 181.0 184.5 (3.5) (1.9) Jasper, IN 129.7 136.3 (6.6) (4.8) 84.9 Western Kentucky 80.1 (4.8) (5.7) Evansville, IN 572.5 607.7 (35.2) (5.8) 95.5 Northern (Mishawaka, IN) 89.5 (6.0) (6.3) Southern Illinois (Carbondale, IL) 72.5 78.3 (5.8) (7.4) 235.7 Indianapolis, IN 211.7 (24.0) (10.2) 79.6 Vincennes, IN 70.8 (8.8) (11.1) $1,868.8 Subtotal $1,777.8 $(91.0) (4.9)% 29.2 Other 31.6 2.4 8.2 $1,898.0 Total $1,809.4 $(88.6) (4.7)% First-Quarter 2009 Review 39
  • 40. Regional Balance Sheet Consumer Loans, excluding home 1Q09 4Q08 equity lines ($ in millions) Actual Actual $ Change % Change Louisville, KY $53.4 $47.5 $5.9 12.4% Indianapolis, IN 70.2 68.2 2.0 2.9 Northern (Mishawaka, IN) 12.5 12.7 (.2) (1.6) Southern Illinois (Carbondale, IL) 50.1 50.9 (.8) (1.6) Western Kentucky 123.5 127.3 (3.8) (3.0) Northwest (Terre Haute, IN) 159.4 165.0 (5.6) (3.4) North Central (Bloomington, IN) 13.7 14.2 (.5) (3.5) Northeast (Muncie, IN) 101.1 105.1 (4.0) (3.8) Evansville, IN 281.7 293.1 (11.4) (3.9) Jasper, IN 23.9 25.2 (1.3) (5.2) Vincennes, IN 28.4 30.5 (2.1) (6.9) Subtotal $917.9 $939.7 $(21.8) (2.3)% Other 1.3 1.3 -0- -0- Total $919.2 $941.0 $(21.8) (2.3)% First-Quarter 2009 Review 40
  • 41. Regional Balance Sheet 1Q09 4Q08 Noninterest-Bearing Demand Deposits ($ in Actual Actual $ Change % Change millions) Indianapolis, IN $171.4 $70.9 $100.5 141.7% Louisville, KY 27.9 19.3 8.6 44.6 North Central (Bloomington, IN) 29.2 22.1 7.1 32.1 Western Kentucky 90.8 82.5 8.3 10.1 Northwest (Terre Haute, IN) 160.8 147.9 12.9 8.7 Jasper, IN 49.2 45.3 3.9 8.6 Southern Illinois (Carbondale, IL) 59.7 57.3 2.4 4.2 Northern (Mishawaka, IN) 36.1 34.9 1.2 3.4 Northeast (Muncie, IN) 76.6 74.4 2.2 3.0 Vincennes, IN 46.2 46.3 (.1) (.2) 255.1 Evansville, IN 254.4 (.7) (.3) Subtotal $856.0 $1,002.3 $146.3 17.1% Other 32.6 37.0 4.4 13.5 Total $888.6 $1,039.3 $150.7 17.0% First-Quarter 2009 Review 41
  • 42. Financial Center Growth Total Core Deposits ($ in millions) 1Q09 Actual 4Q08 Actual $ Change % Change Indianapolis, Indiana: Fishers (3/03) $20.8 $1.1 5.3% $21.9 Carmel (4/03) 4.4 28.3 27.1 1.2 Greenwood (6/03) .7 2.5 28.7 28.0 96th and Gray (8/04) 1.4 8.5 17.9 16.5 Zionsville (relocated 11/04) 9.4 44.4 40.6 3.8 Clay Terrace (7/05) 11.4 16.6 14.9 1.7 Broadripple (8/05) 17.2 15.2 2.0 13.2 Geist (10/06) 9.2 8.5 .7 8.2 Greenwood East (10/06) 9.1 8.2 .9 11.0 Louisville, Kentucky: Preston Pointe (10/04) 51.1 44.1 15.9 7.0 Shelbyville Road (5/06) 14.3 15.2 (.9) (5.9) Hurstbourne Lane (1/07) 8.9 9.1 (.2) (2.2) Chamberlain Pointe (7/08) 3.8 2.1 1.7 81.0 Lafayette, Indiana: Lafayette Pavilions (11/06) 19.4 19.8 (.4) (2.0) Promenade Parkway (4/08) 3.7 3.0 .7 23.3 Ft. Wayne, Indiana: Chestnut Hills (4/08) 3.3 2.1 1.2 57.1 First-Quarter 2009 Review 42
  • 43. Noninterest Income • Fees, service charges and other revenue totaled $38.6 million for 1Q09 – Represents a $2.0 million increase from 4Q08 • Primarily relates to $2.4 million in seasonal contingency revenue from the insurance business – Represents a $4.4 million decrease from 1Q08 • 1Q08 contained a $1.5 million gain for the redemption of Class B VISA shares as well as $2.1 million in additional company-owned life insurance revenue First-Quarter 2009 Review 43
  • 44. Noninterest Expenses • Noninterest expenses totaled $77.5 million for 1Q09 and include $3.0 million of non- recurring conversion costs associated with the acquisition of Charter One’s Indiana franchise as well as increased FDIC insurance expense – Represents a $1.5 million decrease from 4Q08 • 4Q08 includes a $6.3 million check fraud charge – Represents a $6.6 million increase from 1Q08 First-Quarter 2009 Review 44
  • 45. Peer Group Name Ticker Name Ticker 1st Source Corp. SRCE Irwin Financial Corp. IFC AMCORE Financial, Inc. AMFI MB Financial, Inc. MBFI BancorpSouth, Inc. BXS National Penn Bancshares, Inc. NPBC Bank of Hawaii Corp. BOH Park National Corp. PRK Citizens Republic Bancorp, Inc. CRBC Provident Bankshares Corp. PBKS Cullen/Frost Bankers, Inc. CFR Republic Bancorp, Inc. RBCAA F.N.B. Corp. FNB S.Y. Bancorp, Inc. SYBT First Busey Corp. BUSE South Financial Group, Inc. TSFG First Commonwealth Financial Corp. FCF Susquehanna Bancshares, Inc. SUSQ First Merchants Corp. FRME Trustmark Corp. TRMK First Midwest Bancorp, Inc. FMBI UMB Financial Corp. UMBF FirstMerit Corp. FMER United Bankshares, Inc. UBSI Fulton Financial Corp. FULT Valley National Bancorp VLY Hancock Holding Company HBHC WesBanco, Inc. WSBC Integra Bank Corp IBNK Whitney Holding Corp WTNY International Bancshares Corp. IBOC First-Quarter 2009 Review 45

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