Exhibit 99.1

		NASDAQ: ONB
		oldnational.com
FOR IMMEDIATE RELEASE January 23, 2018

Contacts:

Media:

Kathy A. Schoettlin – (812) 465-7269

Executive Vice President – Communications

Financial Community:

Lynell J. Walton – (812) 464-1366

Senior Vice President – Investor Relations

Old National’s 4^th quarter includes strong commercial loan

growth and another successful partnership

4^th QUARTER 2017 HIGHLIGHTS:

2017 HIGHLIGHTS:

Evansville, Ind. (January 23, 2018) – Today Old National Bancorp (the “Company” or “Old National”) (NASDAQ: ONB) reported a 4^th quarter 2017 net loss of $18.5 million, or $0.13 per diluted share. Full-year 2017 net income was $95.7 million, or $0.69 per diluted share.

As was previously disclosed in a Current Report on Form 8-K filed by Old National with the Securities and Exchange Commission on December 22, 2017, the 4^th quarter results included an estimated revaluation of the Company’s deferred tax asset due to the new “H.R.1” tax reform law. Old National recorded $39.3 million of additional tax expense to estimate the impact of a reduction to its deferred tax asset. Also included in the 4^th quarter were the following pre-tax charges: $11.9 million for merger and integration, $3.0 million for branch consolidations, $1.6 million in severance, $1.3 million for Foundation funding and $0.7 million for a client experience improvement initiative. Excluding these items from the current quarter and netting out securities gains, Old National would have reported net income of $32.7 million, or $0.22 per share. Refer to Table 5 for Non-GAAP net income reconciliation.

“Old National capped off a very successful 2017 with another strong quarter,” said Old National Chairman and CEO Bob Jones. “Our 4th quarter saw a continuation of strong operating results highlighted by double digit commercial loan growth coupled with strong credit quality, controlled deposit costs and steady core expenses. We accomplished all of this while expanding into Minnesota with the successful closing of our Anchor-Minnesota partnership. We are optimistic as we look ahead to 2018 given the strength of our franchise and the foundation we have built for sustained, positive operating leverage.

“While the immediate impact of the Tax Cut and Jobs Act is the necessary writedown of a portion of our deferred taxes, the positive impact that reduced taxes will have on Old National and our clients will be significant in 2018 and beyond,” continued Jones. “We are already hearing from our clients about increased investments in technology and other capital expenditures. This is a similar story for us, as we expect to use some of the benefit to enhance our client experience through increased investments in technology. We continue to be a leader in investments in our communities, underscoring our commitment by making a contribution to our Foundation.”

Committed to our Strategic Imperatives

Old National’s continued steady performance and strong credit and capital positions can be attributed to the Company’s unwavering commitment to the three strategic imperatives that have guided Old National for 13 years:

1. Strengthen the risk profile; 2. Enhance management discipline; and 3. Achieve consistent quality earnings.

Balance Sheet and Net Interest Margin

At December 31, 2017, total period-end loans, including loans held for sale, increased $1.708 billion to $11.136 billion from $9.428 billion at September 30, 2017. Total loans acquired through the partnership with Anchor-Minnesota were $1.595 billion as of the date of closing. Excluding these acquired loans, Old National reported organic loan growth during the 4^th quarter of $112.4 million, or 4.8% on an annualized basis. Old National’s portfolio of commercial and commercial real estate loans grew by $1.653 billion from the 3^rd quarter. Of this increase, $1.516 billon was acquired through the Anchor-Minnesota partnership, resulting in $136.5 million, or 10.1% annualized, of organic commercial loan growth.

For the full-year 2017, Old National’s total loan portfolio grew $2.035 billion. Organic loan growth was $439.5 million, or 4.8%. The Company’s portfolio of commercial and commercial real estate loans grew $2.024 billion for the full year, of which $507.8 million was organic growth, an increase of 10.1% compared to 2016.

Total period-end core deposits, including demand and interest-bearing deposits, increased $1.949 billion to $12.441 billion at December 31, 2017, compared to $10.492 billion at September 30, 2017. Total core deposits assumed through the Anchor-Minnesota partnership were $1.777 billion as of the date of closing, of which $579.4 million were noninterest-bearing demand deposits. Excluding these assumed deposits, Old National reported organic deposit growth of $172.0 million for the 4^th quarter while noninterest-bearing deposit balances increased $66.8 million during that same period. Old National’s cost of total deposits remained well controlled at 0.20% in the 4^th quarter of 2017 compared to 0.19% in the 3^rd quarter of 2017 and 0.18% in the 4^th quarter of 2016.

Net interest income for the 4^th quarter of 2017 totaled $118.6 million compared to $108.5 million in the 3^rd quarter of 2017, and $109.9 million in the 4^th quarter of 2016. On a fully taxable equivalent basis, net interest income was $124.7 million for the 4^th quarter of 2017 and represented a net interest margin on total average earning assets of 3.47%. These results compare to net interest income on a fully taxable equivalent basis of $114.1 million and a margin of 3.52% in the 3^rd quarter of 2017. In the 4^th quarter of 2016, Old National reported net interest income on a fully taxable equivalent basis of $115.4 million and a margin of 3.63%. Refer to Table 6 for Non-GAAP taxable equivalent reconciliations.

As part of net interest income, Old National recorded $7.5 million in accretion income, which represents 21 basis points of the Company’s net interest margin. Accretion income is related to purchase accounting discounts from the Company’s various acquisitions. Total accretion income in the 3^rd quarter of 2017 and the 4^th quarter of 2016 reported by Old National was $11.1 million, or 34 basis points of the net interest margin, and $16.8 million, or 53 basis points of the net interest margin, respectively.

Noninterest Income

For the 4^th quarter of 2017, total noninterest income amounted to $44.8 million and compares to $46.4 million reported in the 3^rd quarter of 2017 and $62.8 million in the 4^th quarter of 2016. As compared to the 3^rd quarter, the 4^th quarter of 2017 saw seasonal declines in service charge income (excluding the $0.9 million contribution from Anchor-Minnesota) and mortgage revenue as well as lower capital markets income. The 4^th quarter of 2016 included a $12.8 million pre-tax deferred gain related to the repurchase of various bank properties as well as $6.4 million of recoveries on loans from the Company’s 2016 Wisconsin acquisition. For the two months since the closing of the partnership, Anchor-Minnesota contributed $2.6 million in noninterest income to the 4^th quarter of 2017.

Noninterest Expenses

Noninterest expenses for Old National totaled $140.4 million for the 4^th quarter of 2017. The current quarter included $18.5 million of pre-tax charges: $11.9 million for merger and integration, $3.0 million for branch consolidations, $1.6 million in severance, $1.3 million for Foundation funding and $0.7 million for a client experience improvement initiative. Old National also incurred $11.7 million in amortization of tax credit investments in the 4^th quarter. Excluding these charges from the current quarter, Old National’s adjusted noninterest expense was $110.2 million. The newly acquired Anchor-Minnesota operations contributed $9.5 million in noninterest expenses during the 4^th quarter for the two months since the closing of the partnership. Refer to Table 3 for Non-GAAP noninterest expense reconciliation.

For the 3^rd quarter of 2017, Old National reported total noninterest expenses of $103.7 million, which included $4.7 million of pre-tax charges: $2.1 million related to branch consolidations, $1.9 million related to a client-experience improvement initiative, $0.4 million for merger and integration and $0.3 million in severance. In the 4^th quarter of 2016, noninterest expenses totaled $126.3 million and included $18.3 million of pre-tax charges: $9.8 million for the termination of the Company’s pension plan, $5.1 million related to branch consolidations, $1.8 million in merger and integration charges and $1.6 million in severance. Old National consolidated 14 branches in the 4^th quarter of 2017. With the addition of the newly acquired Minnesota branches, Old National currently operates 191 branches throughout its franchise.

Capital

At December 31, 2017, Old National’s capital position remained well above regulatory guideline minimums with regulatory tier 1 and total risk-based capital ratios of 10.4% and 11.4%, respectively, compared to 12.0% and 12.5% at September 30, 2017, and 11.7% and 12.2% at December 31, 2016. Old National did not repurchase any stock in the open market during the 4^th quarter or full-year 2017.

The following table presents Old National’s risk-based and leverage capital ratios compared to industry requirements:

Old National’s ratio of tangible common equity to tangible assets was 7.65% at December 31, 2017, compared to 8.50% at September 30, 2017, and 7.92% at December 31, 2016. Refer to Table 13 for Non-GAAP reconciliations.

Credit

Old National recorded a provision expense of $1.0 million and had net charge-offs of $0.8 million in the 4^th quarter of 2017. These results compare to $0.3 million in provision expense and net charge-offs of $1.1 million, and a provision recapture of $1.8 million and net charge-offs of nearly zero, in the 3^rd quarter of 2017 and the 4^th quarter of 2016, respectively. Net charge-offs for the 4^th quarter of 2017 were 0.03% of average total loans on an annualized basis, compared to net charge-offs of 0.05% of average total loans in the 3^rd quarter of 2017 and 0.00% in the 4^th quarter of 2016.

Delinquencies remained low as Old National reported 30-89 day delinquent loans of 0.37% in the 4^th quarter of 2017 compared to 0.34% in the 3^rd quarter of 2017. Old National’s 90+ day delinquent loans for the 4^th quarter of 2017 were 0.01%, unchanged from the 3^rd quarter of 2017.

For the full-year 2017, Old National recorded provision expense of $3.1 million and had net charge-offs of $2.5 million, or 0.03% of average total loans. This compares to the full-year 2016 provision expense of $1.0 million and net charge-offs of $3.4 million, or 0.04% of average total loans.

Old National’s allowance for loan losses at December 31, 2017, was $50.4 million, or 0.45% of total loans, compared to an allowance of $50.2 million, or 0.53% of total loans at September 30, 2017, and $49.8 million, or 0.55% of total loans, at December 31, 2016. The coverage ratio (allowance to non-performing loans) stood at 35% at December 31, 2017, compared to 37% at September 30, 2017, and 34% at December 31, 2016.

When reviewing Old National’s credit quality trends, it is important to remember that, in accordance with current accounting practices, the loans acquired from recent acquisitions were recorded at fair value with no allowance recorded at the acquisition date. As of December 31, 2017, the remaining discount on these acquired loans was $136.5 million, of which $46.1 million is applicable to loans acquired in the Anchor-Minnesota partnership.

The following table presents certain credit quality metrics related to Old National’s loan portfolio:

Income Taxes

On a fully taxable-equivalent basis, Old National reported $46.5 million in income tax expense in the 4^th quarter of 2017. Included in this number is a $39.3 million estimate for the revaluation of the Company’s deferred tax asset. This revaluation resulted from the new “H.R.1” tax reform law which was signed on December 22, 2017. As an estimate, this amount could be adjusted during the measurement period, which will end in December 2018.

About Old National

Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest financial services holding company headquartered in Indiana. With $17.5 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for six consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients. Today, Old National’s footprint includes Indiana, Kentucky, Michigan, Wisconsin and Minnesota. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investments and brokerage services. For more information and financial data, please visit Investor Relations at oldnational.com.

Table 3 – Non-GAAP Reconciliation-Noninterest Expenses

Table 4 – Non-GAAP Reconciliation-Operating Leverage

Table 5 – Non-GAAP Reconciliation-Adjusted Net Income

Table 6 – Non-GAAP Reconciliation-Fully Taxable Equivalent Net Interest Margin

TABLE 7

Financial Highlights (unaudited)

($ and shares in thousands, except per share data)

FTE - Fully taxable equivalent basis            EOP - End of period actual balances                                N/M - Not meaningful

TABLE 8

Income Statement (unaudited)

($ and shares in thousands, except per share data)

TABLE 9

Balance Sheet (unaudited)

($ in thousands)

TABLE 10

Average Balance Sheet and Interest Rates (unaudited)

($ in thousands)

TABLE 11

Average Balance Sheet and Interest Rates (unaudited)

($ in thousands)