Exhibit 99.1

NASDAQ: ONB

oldnational.com

FOR IMMEDIATE RELEASE

October 31, 2016

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 3^rd quarter results highlighted by continued loan

growth and increase in tangible book value¹

3^RD QUARTER VS. 2^ND QUARTER 2016 HIGHLIGHTS:

Evansville, Ind. (October 31, 2016) – Today Old National Bancorp (the “Company” or “Old National”) (NASDAQ: ONB) reported 3^rd quarter 2016 net income of $34.7 million, or $0.25 per share. Included in the current quarter were pre-tax merger and integration charges of $5.5 million related to the recently completed partnership with Anchor BanCorp Wisconsin Inc. (“Anchor”). These quarterly results compare to net income of $39.1 million in the 2^nd quarter of 2016 and $37.7 million recorded in the 3^rd quarter of 2015. The 2^nd quarter of 2016 contained $7.2 million in pre-tax merger and integration charges.

Also today, the Company announced its quarterly cash dividend of $0.13 per share. The dividend is payable December 15, 2016, to shareholders of record on December 1, 2016. For purposes of broker trading, the ex-date of the cash dividend is November 29, 2016.

“Our 3^rd quarter results represent a continuation of several positive trends from previous quarters, including meaningful organic loan growth, increased tangible book value, well controlled operating expenses and strong credit metrics,” said Chairman and CEO Bob Jones. “The fact that we achieved these gains in a challenging, low-rate environment while also successfully completing the conversion of Anchor is a testament to our ability to execute our growth plan. We remain focused on improving efficiencies, as evidenced by our recent decision to consolidate an additional 15 banking centers in the 1^st quarter of 2017.”

Committed to our Strategic Imperatives and 2016 Initiatives

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 11 years:

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

Guided by these three strategic imperatives, Old National’s primary initiatives for 2016 are: 1. Continue to grow organic revenue; 2. Improve operating leverage; and 3. Prudent use of capital, all while maintaining a strong credit culture.

Grow Organic Revenue

Balance Sheet and Net Interest Margin

Total period-end loans, including loans held for sale, increased $90.9 million to $8.966 billion at September 30, 2016, from $8.875 billion at June 30, 2016. This increase represents a 4.1% annualized growth rate. Old National’s new Wisconsin region, the Louisville, Kentucky market, including the Company’s new Lexington office, and the Western Kentucky region all experienced nice growth in their loan portfolios during the 3^rd quarter.

Total period-end core deposits, including demand and interest-bearing deposits, increased $208.9 million to $10.482 billion at September 30, 2016, compared to $10.273 billion at June 30, 2016.

For the 3^rd quarter of 2016, net interest income totaled $107.8 million compared to $99.3 million in the 2^nd quarter of 2016, and $97.1 million in the 3^rd quarter of 2015. On a fully taxable equivalent basis, net interest income was $113.1 million for the 3^rd quarter of 2016 and represented a net interest margin on total average earning assets of 3.60%. These results compare to net interest income on a fully taxable equivalent basis of $104.6 million and a margin of 3.57% in the 2^nd quarter of 2016. In the 3^rd quarter of 2015, Old National reported net interest income on a fully taxable equivalent basis of $102.1 million and a margin of 3.94%. Refer to Table 4 for Non-GAAP taxable equivalent reconciliations.

As part of net interest income, Old National recorded $15.9 million, or a 51 basis point contribution to net interest margin, from accretion income in the 3^rd quarter of 2016 related to purchase accounting discounts from various acquisitions. Total accretion income in the 2^nd quarter of 2016 and the 3^rd quarter of 2015 reported by Old National was $14.2 million, or a 49 basis point net interest margin contribution, and $20.6 million, or an 80 basis point net interest margin contribution, respectively. Excluding accretion income, the core net interest margin was 3.09% in the 3^rd quarter of 2016, compared to 3.08% in the 2^nd quarter of 2016 and 3.14% in the 3^rd quarter of 2015. Refer to Table 4 for Non-GAAP reconciliations.

Noninterest Income

Total noninterest income amounted to $47.2 million in the 3^rd quarter of 2016 and compares to $93.4 million reported in the 2^nd quarter of 2016 and $59.7 million in the 3^rd quarter of 2015. Included in the 2^nd quarter of 2016 was a $41.9 million pre-tax gain on the sale of ONB Insurance Group, Inc. Included in the 3^rd quarter of 2015 was a $15.4 million gain relating to branch sales.

Improve Operating Leverage

For the 3^rd quarter of 2016, Old National’s noninterest expenses totaled $108.1 million. Included in this total are $5.5 million in merger and integration charges related to the partnership with Anchor. Noninterest expenses for the 2^nd quarter of 2016 were $121.5 million and for the 3^rd quarter of 2015 were $102.6 million. Items impacting noninterest expenses for the 2^nd quarter of 2016 include foundation/community support, branch consolidation and severance expenses totaling $6.2 million, as well as merger and integration charges of $7.2 million. As of September 30, 2016, Old National has 201 branches throughout its franchise.

Prudent Use of Capital

Old National’s capital position remained well above regulatory guideline minimums at September 30, 2016, with regulatory tier 1 and total risk-based capital ratios of 11.9% and 12.5%, respectively, compared to 11.8% and 12.4% at June 30, 2016, and 12.5% and 13.2% at September 30, 2015. Old National did not repurchase any stock in the open market during the 3^rd quarter of 2016.

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

Old National’s ratio of tangible common equity to tangible assets was 8.13% at September 30, 2016, compared to 8.10% at June 30, 2016, and 7.56% at September 30, 2015. Refer to Table 11 for Non-GAAP reconciliations.

Maintain a Strong Credit Culture

In the 3^rd quarter of 2016, Old National recorded provision expense of $1.3 million and had net charge-offs of $1.6 million. These results compare to $1.3 million in provision expense and net charge-offs of $0.2 million, and provision expense of $0.2 million and net recoveries of $0.9 million, in the 2^nd quarter of 2016 and the 3^rd quarter of 2015, respectively. Net charge-offs for the 3^rd quarter of 2016 were 0.07% of average total loans on an annualized basis, compared to net charge-offs of 0.01% of average total loans in the 2^nd quarter of 2016 and net recoveries of 0.05% of average total loans in the 3^rd quarter of 2015.

Old National continues to report low delinquencies, with 30+ day delinquent loans of 0.36% in the 3^rd quarter of 2016 compared to 0.34% in the 2^nd quarter of 2016. Old National’s 90+ day delinquent loans for the 3^rd quarter were near zero compared to 0.01% in the 2^nd quarter of 2016.

At September 30, 2016, Old National’s allowance for loan losses was $51.5 million, or 0.58% of total loans, compared to an allowance of $51.8 million, or 0.59% of total loans at June 30, 2016, and $51.2 million, or 0.75% of total loans, at September 30, 2015. The coverage ratio (allowance to non-performing loans) stood at 31% at September 30, 2016, compared to 30% at June 30, 2016, and 33% at September 30, 2015.

In accordance with current accounting practices, the loans acquired from Anchor are recorded at fair value with no allowance recorded at the acquisition date. When considering both the allowance for loan losses plus the purchase accounting marks, Old National believes it remains appropriately reserved, as demonstrated by the table below.

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

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 $14.7 billion in assets, it ranks among the top 100 banking companies in the U.S. 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 and Wisconsin. 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.

Conference Call

Old National will hold a conference call at 10:00 a.m. Central Time on Monday, October 31, 2016, to discuss 3^rd quarter 2016 financial results, strategic developments, and the Company’s financial outlook. The live audio web cast of the call, along with the corresponding presentation slides, will be available on the Company’s Investor Relations web page at oldnational.com and will be archived there for 12 months. A replay of the call will also be available from 1:00 p.m. Central Time on October 31 through November 14. To access the replay, dial 1-855-859-2056, Conference ID Code 93788114.

Use of Non-GAAP Financial Measures

This earnings release contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Old National’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.

Table 4 – Non-GAAP Reconciliations-Core Net Interest Margin

Forward-Looking Statement

This press release 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 Bancorp’s (“Old National’s”) financial condition, results of operations, asset and credit quality trends and profitability. Forward-looking statements can be identified by the use of the words “anticipate,” “believe,” “expect,” “intend,” “could” and “should,” 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: expected cost savings, synergies and other financial benefits from the recently completed mergers might not be realized within the expected timeframes and costs or difficulties relating to integration matters might be greater than expected; market, economic, operational, liquidity, credit and interest rate risks associated with Old National’s business; competition; government legislation and policies (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act and its related regulations); ability of Old National to execute its business plan (including integrating the recently completed merger with Anchor Bancorp Wisconsin Inc.); 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 resolutions of litigations; disruptive technologies in payment systems and other services traditionally provided by banks; computer hacking and other cybersecurity threats; other matters discussed in this press release and other factors identified in our Annual Report on Form 10-K and other periodic filings with the SEC. These forward-looking statements are made only as of the date of this press release, and Old National does not undertake an obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this press release.

TABLE 5

Financial Highlights

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

FTE - Fully taxable equivalent basis                EOP - End of period actual balances

TABLE 6

Income Statement

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

TABLE 7

Balance Sheet

($ in thousands)

TABLE 8

Average Balance Sheet and Interest Rates

($ in thousands)

TABLE 9

Average Balance Sheet and Interest Rates

($ in Thousands)