Positive 4th Quarter Solidifies Profitable 2010 For Old National

4 ^th Quarter Highlights :

• Quarterly net income increases 161% over 4th quarter 2009
• Net interest margin increases to 3.46%
• Credit quality metrics remain well controlled
• Increase in non-interest-bearing demand deposits and NOW accounts (both period end and average)
• Monroe acquisition closed January 1, 2011

2010 Highlights :

• Full year net income available to common shareholders increases almost 290% over 2009
• Net interest margin improved steadily throughout 2010
• Loan charge-offs decreased substantially from 2008 and 2009 levels
• Continued commitment to expense reduction – expenses down 7.3% or $24.7 million over 2009
• Liquidity and capital positions remain strong
• Funding remained strong in new service charge environment

EVANSVILLE, Ind., January 31, 2011 (GLOBE NEWSWIRE) -- Old National Bancorp (NYSE:ONB) today reported 4 ^th quarter net income of $5.7 million, or $.07 per common share. These results compare to the net income of $11.9 million, or $.13 per common share, reported in 3 ^rd quarter 2010, and far outpace Old National's 4 ^th quarter 2009 results (a net loss of $9.3 million, or $.11 per common share).

Net income available to common shareholders for the 12 months ended December 31, 2010, was $38.2 million, or $.44 per common share. This compares very favorably to full-year 2009 net income available to common shareholders of $9.8 million, or $.14 per common share.

"These positive 4 ^th quarter results allowed Old National to solidify a profitable 2010 while maintaining our commitment to basic, client-focused community banking," said Bob Jones, Old National Bancorp President and CEO. "I'm especially encouraged that our deposit balances for the quarter remained steady while loans – especially residential real estate loans – increased and loan charge-offs decreased compared to 4 ^th quarter 2009.

"I'm also pleased that our credit metrics remain well-controlled despite a challenging operating environment, and that our liquidity and capital positions continue to be strong. As a result, we're able to aggressively pursue strategic partnership opportunities, such as our recently completed (January 1, 2011) Monroe Bancorp acquisition." (See Page 4 for more on the Monroe Bancorp acquisition)