EVANSVILLE, Ind., Jan. 05, 2026 (GLOBE NEWSWIRE) -- (NASDAQ: ONB) – Old National Bancorp (“Old National”), the holding company of Old National Bank, today announced the following schedule for its fourth-quarter and full-year 2025 earnings release and conference call: Earnings Release:Wednesday, January 21, 2026, at approximately 7:00 A.M. ET Conference Call:Wednesday, January 21, 2026, at 10:00 A.M. ET Dial-in Numbers:U.S. (800) 715-9871; International: (646) 307-1963; Access code 9394540 Webcast:Via Old ...

Core Points - Old National Bank (ONB) is celebrating its annual Client Appreciation Week from November 17 to 22, 2025, to express gratitude to clients and strengthen community connections [1][2] - The event includes various activities such as a $10,000 prize drawing, free document shredding services, financial education sessions, and community partner events [2][5] - Old National Bancorp, the parent company of ONB, is the sixth largest commercial bank in the Midwest, with approximately $71 billion in assets and $38 billion in assets under management [3] Company Overview - Old National Bancorp focuses on building long-term partnerships with clients while supporting community development [3] - The bank provides a wide range of services, including consumer and commercial banking, wealth management, and capital markets services [3] - In 2025, Old National was recognized as one of "The Civic 50," highlighting its commitment to community engagement [3]

Core Insights - 1834, a division of Old National Bank, has expanded its operations into Naples, Florida, to cater to the financial needs of high and ultra-high net-worth individuals and institutions in the region [1][2] - The Naples team is led by Jeff Robinson, who has over 20 years of experience in wealth management, focusing on delivering integrated wealth management services [2][3] - 1834 offers a boutique-style experience with customized wealth advisory and investment management services, competing with ultra-high-net-worth firms without requiring high entry fees [3][4] Company Overview - 1834 is supported by a team of industry-renowned executives with over 80 years of combined experience, and the firm has more than 100 team members across various locations [4][8] - The service model includes a single point of contact with a wealth advisor, complemented by a team of in-house professionals providing various services such as wealth planning, investment management, and estate planning [5][6] Team Composition - The Naples team includes experienced professionals such as Rick Sterioti, Jolene Wall, and Eric Cosentino, each bringing decades of expertise in wealth management and investment [6][7] - The team focuses on providing holistic advice tailored to the needs of high-net-worth individuals, including specialized services for business succession planning and philanthropy [5][6] Parent Company Information - Old National Bancorp, the parent company of 1834, is the sixth largest commercial bank headquartered in the Midwest, with approximately $71 billion in assets and $38 billion in assets under management [8]

Core Points - Old National Bancorp has been designated as a 2026 Military Friendly Employer, highlighting its commitment to supporting veterans and military employees [1][4] - The evaluation for the Military Friendly Employers designation involved over 1,200 companies and was based on a proprietary survey and public data [2] - Old National's Military Veteran's Impact Network (MVIN) plays a significant role in fostering a supportive culture for military team members [3] Company Overview - Old National Bancorp is the holding company for Old National Bank, the sixth largest commercial bank in the Midwest, with approximately $71 billion in assets and $38 billion in assets under management [6] - The bank focuses on building long-term partnerships with clients and has been recognized as one of "The Civic 50," which honors the 50 most community-minded companies in the U.S. [6]

Financial Performance - Net interest income for Q3 2025 was $574,609,000, an increase of 11.6% compared to $514,790,000 in Q2 2025[188] - Net income available to common shareholders rose to $178,533,000 in Q3 2025, up 47% from $121,375,000 in Q2 2025[188] - Noninterest income increased by 38% to $356,772 compared to $258,931 in 2024[190] - Net income available to common shareholders reached $440,533, reflecting a 18% increase from $373,214 in 2024[190] - Net interest income rose by $59.8 million to $574.6 million compared to the second quarter of 2025, driven by the full quarter impact of Bremer and higher asset yields[206] - Noninterest income for the third quarter of 2025 was $130.5 million, reflecting an increase of 38.6% compared to $94.1 million in the same quarter of 2024[213] - Net interest income increased to $184.7 million for the three months ended September 30, 2025, up by $60.5 million year-over-year, and $342.1 million for the nine months, an increase of $126.9 million[226] Loan and Deposit Growth - Total loans increased to $47,967,915,000 in Q3 2025, compared to $47,902,819,000 in Q2 2025, reflecting growth in lending activities[188] - Total loans grew to $47,967,915, a significant increase of 32% from $36,400,643 in 2024[190] - Total deposits reached $55,006,184,000 in Q3 2025, up from $54,357,683,000 in Q2 2025, showing strong customer retention and acquisition[188] - Total deposits rose to $55,006,184, marking a 35% increase from $40,845,746 in 2024[190] - Total deposits increased by $648.5 million, or 5% annualized, to $55.0 billion at September 30, 2025 compared to June 30, 2025[205] - Total deposits reached $55.0 billion, an increase of $14.2 billion or 34.7% from December 31, 2024, attributed to Bremer deposits and organic growth[265] Credit Quality and Loss Provisions - Provision for credit losses decreased to $26,738,000 in Q3 2025 from $106,835,000 in Q2 2025, indicating improved credit quality[188] - Provision for credit losses rose to $164,976, up 97% from $83,602 in the previous year[190] - Provision for credit losses was $26.7 million in the third quarter of 2025, with a significant increase in the year-to-date provision to $165.0 million compared to $83.6 million in 2024[213] - The allowance for credit losses on loans was $566,102 thousand as of September 30, 2025, up from $366,667 thousand in the previous year[220] - The allowance for credit losses on loans was $572.2 million at September 30, 2025, up from $392.5 million at December 31, 2024, reflecting $103.5 million of allowance for credit losses on acquired PCD loans[283] Efficiency and Operational Metrics - Return on average assets improved to 1.03% in Q3 2025, compared to 0.77% in Q2 2025, indicating enhanced operational efficiency[188] - The efficiency ratio for Q3 2025 was 58.84%, a slight increase from 55.80% in Q2 2025, suggesting a need for cost management[188] - The efficiency ratio was reported at 56.43%, slightly up from 56.37% in the previous year[190] - Noninterest expense for the three months ended September 30, 2025, was $445.7 million, a 63.7% increase from $272.3 million in the same period of 2024[240] - Total noninterest expense for the nine months ended September 30, 2025, reached $1.1 billion, up 34.4% from $817.6 million in 2024[241] Capital and Equity - The Tier 1 common equity ratio was 11.02% in Q3 2025, up from 10.74% in Q2 2025, reflecting a stronger capital position[188] - Shareholders' equity increased to $8,168,575 thousand in September 2025, compared to $6,190,071 thousand in September 2024, indicating a growth of 32%[220] - Shareholders' equity increased to $8.3 billion at September 30, 2025, up from $6.3 billion at December 31, 2024, due to the issuance of 50.2 million shares related to the Bremer acquisition[267] Acquisition Impact - The acquisition of Bremer Financial Corporation was completed on May 1, 2025, with a total consideration of $1.3 billion, including 50.2 million shares of Old National common stock and $314.6 million in cash[212] - Average loans increased by $11.9 billion for the three months and $7.7 billion for the nine months ended September 30, 2025, primarily due to the acquisition of Bremer loans totaling $11.2 billion[232] - Other income increased by $6.1 million for the three months and $38.1 million for the nine months ended September 30, 2025, driven by the acquisition of Bremer and a $21.0 million gain from the Bremer pension plan[239] Risk Management and Liquidity - The company performs stress testing periodically to ensure sufficient capital to continue operations during economic stress, evaluating decisions related to pricing, loan concentrations, and mergers[271] - The company has adopted a Risk Appetite Statement to assess and mitigate various risks, including credit, market, and liquidity risks[272] - Liquidity management strategies include maintaining strategic and contingency liquidity plans to ensure sufficient funding for balance sheet growth[296] - The company maintains significant liquidity, with access to $4,555,409,000 from the Federal Reserve discount window and $8,120,873,000 from the Federal Home Loan Bank[301] Projections and Future Outlook - Projected net interest income for September 30, 2025, is $4,716,381,000, reflecting a change of 0.20% from the base scenario[291] - Total interest income is expected to reach $9,079,196,000 by September 30, 2025, with a year-over-year increase driven by loan growth and asset repricing[293] - Projected interest expense for September 30, 2025, is $4,362,815,000, indicating a significant increase from previous periods[291]

Core Insights - Old National Bancorp (ONB) is a significant player in the Midwest financial services sector, offering a wide range of banking services and demonstrating consistent financial performance [1] Financial Performance - For the third quarter of 2025, ONB reported earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.56, resulting in a +5.36% earnings surprise [3] - The company's revenue for the quarter ending September 2025 was $713 million, which is 2.35% above the Zacks Consensus Estimate and a substantial increase from $492 million reported a year ago [4] - ONB's net income applicable to common shares for the third quarter was $178.5 million, with a diluted EPS of $0.46; on an adjusted basis, net income was $231.3 million, translating to a diluted EPS of $0.59 [5] Market Position - Cowen & Co. maintained a "Hold" rating for ONB, with the stock price at $21.05, and raised the price target from $25 to $26, indicating confidence in the company's financial trajectory [2] - The current stock price of ONB is $20.96, reflecting a slight decrease of 0.43%, with a market capitalization of approximately $8.21 billion [6]

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Financial Data and Key Metrics Changes - Old National Bancorp reported GAAP earnings per share of $0.46 for Q3 2025, with adjusted earnings per share of $0.59, reflecting an 11% increase from the prior quarter and a 28% increase year over year [7][12] - The company achieved a 20% return on average tangible common equity and a 1.3% return on assets, with an efficiency ratio below 50% [3][5] - The CET1 ratio increased by 28 basis points to over 11%, and tangible book value per share grew by 4% from Q2 and 10% year over year [7][15] Business Line Data and Key Metrics Changes - Total loans grew 3.1% annualized from the previous quarter, with production up 20% from the prior quarter [8][9] - Adjusted non-interest income was $130 million for the quarter, exceeding guidance, driven by strong performance in capital markets [12][18] - Adjusted non-interest expenses were $376 million, reflecting a full quarter impact of Bremer operations, with a low efficiency ratio of 48% [13][19] Market Data and Key Metrics Changes - Total deposits increased by 4.8% annualized, with core deposits (excluding brokered) increasing by 5.8% annualized [10][11] - Non-interest bearing deposits remained at 24% of core deposits, and brokered deposits decreased modestly [10][11] - The company achieved an approximate 85% beta on its exception price book spot rate in conjunction with the Fed rate cut in September [11] Company Strategy and Development Direction - The company is focused on organic growth and returning capital to shareholders, emphasizing that the best acquisition is itself [5][25] - Management is strategically recruiting top-tier talent and investing in future growth opportunities while enhancing efficiency [4][6] - The company aims to leverage its leading market position and capitalize on market disruptions [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the credit outlook, noting a decline in criticized and classified loans and stable credit metrics [15][19] - The company anticipates continued success in executing its deposit strategy and expects to meet or exceed industry growth in 2025 [18][19] - Management highlighted that the systems conversion for the Bremer Bank partnership was successful, with positive client sentiment and operational efficiency [36][38] Other Important Information - The company repurchased 1.1 million shares late in the quarter, reflecting confidence in capital levels and the trajectory of the business [16][102] - The full run-rate cost savings from the Bremer acquisition are expected to materialize in Q1 of the following year [95][96] Q&A Session Summary Question: What drove the reduction in NII expectations for the fourth quarter? - Management indicated that the reduction from $590 million to $585 million is minor relative to the overall balance sheet size and reflects stable dynamics [22][23] Question: What are the preferred uses for capital moving forward? - Management emphasized organic growth as the primary focus, with opportunistic buybacks based on capital generation [24][25] Question: How did the systems conversion go? - Management reported that the systems conversion was the best to date, with high client satisfaction and minimal issues [36][38] Question: What is the outlook for loan growth from Bremer? - Management expects consolidated loan growth to align with overall company growth, with no significant swings anticipated [70][73] Question: How does the company view the credit environment? - Management described the credit outlook as stable to improving, with a focus on active portfolio management [97][99]

Financial Data and Key Metrics Changes - The company reported GAAP earnings per share of $0.46 for Q3 2025, with adjusted earnings per share of $0.59, reflecting an 11% increase from the prior quarter and a 28% increase year-over-year [7][12] - The adjusted return on average tangible common equity was 20%, and return on assets was 1.3%, with an efficiency ratio below 50% [3][5] - The CET1 ratio increased by 28 basis points to over 11%, and tangible book value per share grew by 4% from Q2 and 10% year-over-year [7][15] Business Line Data and Key Metrics Changes - Total loans grew 3.1% annualized from the previous quarter, with production up 20% from the prior quarter [9][10] - Adjusted non-interest income was $130 million for the quarter, exceeding guidance, driven by strong performance in capital markets [12][18] - Adjusted non-interest expenses were $376 million, reflecting a full quarter impact of Bremer operations, with a low efficiency ratio of 48% [13][19] Market Data and Key Metrics Changes - Total deposits increased by 4.8% annualized, with core deposits (excluding brokered) increasing by 5.8% [10][11] - Non-interest bearing deposits remained at 24% of core deposits, and brokered deposits decreased to 5.8% of total deposits, below peer levels [10][11] - The company achieved an approximate 85% beta on its exception price book spot rate in conjunction with the Fed rate cut in September [11] Company Strategy and Development Direction - The company is focused on organic growth and returning capital to shareholders, emphasizing that the best acquisition is itself [5][25] - Management is strategically recruiting top-tier talent and investing in efficiency improvements while maintaining a strong capital position [4][5] - The company aims to leverage its leading market position and is not pursuing new partnerships, focusing instead on enhancing its existing operations [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the credit outlook, noting a decline in criticized and classified loans and stable credit metrics [15][19] - The company anticipates continued success in deposit strategy and expects to meet or exceed industry growth in 2025 [18][19] - Management highlighted that the systems conversion for the Bremer partnership was successful, with positive client sentiment and operational efficiency [36][38] Other Important Information - The company repurchased 1.1 million shares late in the quarter, reflecting confidence in capital levels and a commitment to returning capital to shareholders [5][16] - The company expects to see cost savings from the Bremer integration materialize in Q1 of the following year, with a focus on ongoing efficiency improvements [19][96] Q&A Session Summary Question: What drove the reduction in NII expectations for the fourth quarter? - Management indicated that the reduction from $590 million to $585 million is minor given the size of the balance sheet, attributing it to slight changes in market conditions [22][23] Question: What are the preferred uses for capital moving forward? - Management emphasized organic growth as the primary focus, with opportunistic buybacks based on capital levels and market conditions [25][26] Question: How did the systems conversion go? - Management reported that the systems conversion was the best they have ever done, with high client satisfaction and minimal issues [36][38] Question: What is the outlook for loan growth and deposits from the Bremer acquisition? - Management expects consolidated loan growth to align with overall company growth, with Bremer contributing positively to both loan and deposit growth [70][73] Question: How does the company view the current credit environment? - Management described the credit environment as stable, with a focus on active portfolio management and monitoring to avoid surprises [97][99]

Financial Data and Key Metrics Changes - The company reported an adjusted return on average tangible common equity of 20% and a return on assets (ROA) of 1.3% for Q3 2025, with an efficiency ratio below 50% [3][10] - Adjusted earnings per share (EPS) for the quarter were $0.59, an 11% increase from the prior quarter and a 28% increase year over year [9][10] - Common equity tier 1 (CET1) capital increased by 28 basis points to over 11% despite merger-related charges [6][10] Business Line Data and Key Metrics Changes - Total loans grew 3.1% annualized from the previous quarter, with production up 20% from the prior quarter [11][12] - Adjusted noninterest income was $130 million for the quarter, exceeding guidance, driven by strong performance in capital markets [16][17] - Noninterest expenses were $376 million, reflecting a full quarter impact of Bremer operations, with a low efficiency ratio of 48% [17][20] Market Data and Key Metrics Changes - Total deposits increased by 4.8% annualized, with core deposits (excluding brokered) increasing by 5.8% [13][14] - Noninterest-bearing deposits remained at 24% of core deposits, with brokered deposits decreasing modestly [13][14] - The cost of total deposits increased by four basis points linked quarter, reflecting the full quarter impact of Bremer's cost of deposits [14] Company Strategy and Development Direction - The company is focused on organic growth and returning capital to shareholders, emphasizing that the best acquisition is itself [7][8] - Management is strategically recruiting top-tier talent and enhancing efficiency while investing in future growth opportunities [5][6] - The company aims to maintain a strong capital position while pursuing opportunities for growth in its existing markets [6][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the credit environment, stating that current credit issues are manageable and not indicative of larger problems [4][19] - The company anticipates stable to improving net interest income and net interest margin in 2025, driven by loan growth and asset repricing [22][23] - Management expects to meet or exceed industry growth in 2025, with a loan growth guidance of 4% to 5% excluding Bremer [23][24] Other Important Information - The company successfully completed the systems conversion and branding for the Bremer Bank partnership, which is expected to enhance growth opportunities [8][26] - The company repurchased 1,100,000 shares late in the quarter, reflecting confidence in its capital position [6][21] Q&A Session Summary Question: Insights on NII expectations for Q4 - Management indicated a slight reduction in NII expectations for Q4, attributing it to lower starting points and market dynamics [28][30] Question: Discussion on capital allocation and buybacks - Management confirmed a focus on organic growth as the primary use of capital, with opportunistic buybacks expected to continue [32][34] Question: Update on Bremer loan dynamics - Management clarified that loan sales were not significant, and any reductions in Bremer loans were part of normal attrition [41][42] Question: Credit environment outlook - Management described the credit environment as stable to improving, with a focus on active portfolio management [117][118] Question: Expectations for future hiring - Management confirmed plans to hire new talent to capitalize on market opportunities, emphasizing the importance of having the right team in place [50][51] Question: Bremer's impact on loan and deposit growth - Management expects Bremer to contribute positively to loan and deposit growth, aligning with overall company objectives [87][89]