Old National Bancorp in Evansville, Ind., said Tuesday that it expects to report its fourth-quarter earnings fell well short of its estimates, as a result of a spike in problem loans and losses related to a check fraud scheme.

The $7.5 billion-asset company now expect to report that its earnings fell at least 64% from the same period in 2007, to a range of 8 to 12 cents a share. Previous guidance called for fourth-quarter earnings of 25 to 30 cents a share.

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