Old National Bancorp (ONB) reported $486.8 million in revenue for the quarter ended March 2025, representing a year-over-year increase of 10.6%. EPS of $0.45 for the same period compares to $0.45 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $478.3 million, representing a surprise of +1.78%. The company delivered an EPS surprise of +7.14%, with the consensus EPS estimate being $0.42.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Old National Bancorp (ONB) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.14%. A quarter ago, it was expected that this holding company for Old National Bank would post earnings of $0.46 per share when it actually produced earnings of $0.49, delivering a surprise of 6.52%.Over the ...

[Q1 2025 Earnings Overview](index=1&type=section&id=Q1%202025%20Earnings%20Overview) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Jim Ryan attributed strong Q1 results to a robust deposit franchise, solid loan growth, and disciplined expense management, preparing for the Bremer Bank partnership - The strong Q1 results are attributed to a peer-leading deposit franchise, solid loan growth, and disciplined expense management[1](index=1&type=chunk) - The company is preparing for its partnership with Bremer Bank, with an expected closing date of May 1, 2025[1](index=1&type=chunk) [First Quarter Highlights](index=1&type=section&id=First%20Quarter%20Highlights) Old National Bancorp reported Q1 2025 net income of $140.6 million, with a 3.27% net interest margin and strong deposit and loan growth Q1 2025 Key Financial Results | Metric | Value | Adjusted Value | | :--- | :--- | :--- | | Net Income (common shares) | $140.6 million | $145.5 million | | Diluted EPS | $0.44 | $0.45 | | PPNR | $218.3 million | $224.3 million | | ROATCE | 15.0% | 15.5% | Q1 2025 Balance Sheet and Margin Highlights | Metric | Value | Change (Linked-Quarter) | | :--- | :--- | :--- | | Net Interest Margin (FTE) | 3.27% | Down 3 bps | | Total Deposits (Period-end) | $41.0 billion | Up 2.1% annualized | | Total Loans (Period-end) | $36.5 billion | Up 1.5% annualized | | Tier 1 Common Equity Ratio | 11.62% | Up 24 bps | [Results of Operations](index=2&type=section&id=Results%20of%20Operations) [Deposits and Funding](index=2&type=section&id=Deposits%20and%20Funding) Period-end total deposits grew 2.1% annualized to $41.0 billion, maintaining strong liquidity with an 89% loan-to-deposit ratio and reduced deposit costs Deposit Metrics (Q1 2025) | Metric | Value | Change (Linked-Quarter) | | :--- | :--- | :--- | | Period-end Total Deposits | $41.0 billion | Up 2.1% annualized | | Period-end Core Deposits | - | Up 1.7% annualized | | Average Total Deposits | $40.5 billion | Down 6.2% annualized | | Total Deposit Costs | 1.91% | Down 17 bps | - A loan-to-deposit ratio of **89%** provides strong liquidity[8](index=8&type=chunk) [Loans](index=2&type=section&id=Loans) Total loans increased 1.5% annualized to $36.5 billion, supported by $1.5 billion in commercial loan production and a robust pipeline Loan Metrics (Q1 2025) | Metric | Value | | :--- | :--- | | Period-end Total Loans | $36.5 billion | | Annualized Growth | 1.5% | | Commercial Loan Production | $1.5 billion | | Commercial Pipeline | $3.4 billion | [Credit Quality](index=2&type=section&id=Credit%20Quality) Credit quality remained resilient with a $31.4 million provision for credit losses, 24 basis points in net charge-offs, and improved 30+ day delinquencies Credit Quality Metrics (Q1 2025 vs Q4 2024) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Provision Expense | $31.4 million | $27.0 million | | Net Charge-offs (bps) | 24 bps | 21 bps | | 30+ Day Delinquencies | 0.22% | 0.27% | | Nonaccrual Loans % | 1.29% | 1.23% | | ACL / Total Loans | 1.16% | 1.14% | [Net Interest Income and Margin](index=2&type=section&id=Net%20Interest%20Income%20and%20Margin) Net interest income decreased to $393.0 million, with net interest margin compressing to 3.27%, primarily due to lower accretion income and fewer days Net Interest Income & Margin (Q1 2025 vs Q4 2024) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Net Interest Income (FTE) | $393.0 million | $400.0 million | | Net Interest Margin (FTE) | 3.27% | 3.30% | | Accretion Income | $12.3 million | $18.5 million | | Cost of Total Deposits | 1.91% | 2.08% | [Noninterest Income](index=2&type=section&id=Noninterest%20Income) Total noninterest income decreased by 2.1% to $93.8 million, influenced by seasonal bank fees and a gain from commercial real estate loan sales - Total noninterest income decreased by **2.1%** to **$93.8 million** compared to the prior quarter[8](index=8&type=chunk) - The decrease was driven by seasonally lower bank fees and lower company-owned life insurance income[8](index=8&type=chunk) - Other income included **$4.8 million** in gains from the sale of **$71 million** of commercial real estate loans[9](index=9&type=chunk) [Noninterest Expense](index=3&type=section&id=Noninterest%20Expense) Disciplined expense management led to adjusted noninterest expense decreasing to $262.6 million, maintaining a stable adjusted efficiency ratio of 51.8% Noninterest Expense & Efficiency Ratio (Q1 2025 vs Q4 2024) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Noninterest Expense | $268.5 million | $276.8 million | | Adjusted Noninterest Expense | $262.6 million | $268.7 million | | Efficiency Ratio | 53.7% | 54.4% | | Adjusted Efficiency Ratio | 51.8% | 51.8% | - Q1 2025 expenses included **$5.9 million** of merger-related charges[15](index=15&type=chunk) [Income Taxes](index=3&type=section&id=Income%20Taxes) Income tax expense was $36.9 million, resulting in an effective tax rate of 20.3%, with the adjusted FTE rate at 22.6% Tax Metrics (Q1 2025 vs Q4 2024) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Income Tax Expense | $36.9 million | $32.2 million | | Effective Tax Rate | 20.3% | 17.3% | | Adjusted FTE Tax Rate | 22.6% | 19.8% | [Capital](index=3&type=section&id=Capital) Capital ratios strengthened due to retained earnings, with the preliminary Tier 1 common equity ratio increasing to 11.62% and TCE to TA rising to 7.76% Key Capital Ratios (Q1 2025) | Ratio | Value | Change (Linked-Quarter) | | :--- | :--- | :--- | | Tier 1 Common Equity | 11.62% | Up 24 bps | | Tier 1 Capital | 12.23% | Up 25 bps | | Total Risk-Based Capital | 13.68% | Up 31 bps | | TCE / TA | 7.76% | Up from 7.41% | [Financial Statements and Data](index=8&type=section&id=Financial%20Statements%20and%20Data) [Financial Highlights](index=8&type=section&id=Financial%20Highlights) This section provides a five-quarter comparative summary of Old National's key financial metrics, including income statement, per-share data, and capital ratios Selected Performance Ratios (Q1 2025 vs Q4 2024) | Ratio | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | ROAA | 1.08% | 1.14% | | ROAE | 9.1% | 9.8% | | ROATCE | 15.0% | 16.4% | | NIM (FTE) | 3.27% | 3.30% | | Efficiency Ratio | 53.7% | 54.4% | [Income Statement](index=10&type=section&id=Income%20Statement) The detailed income statement for Q1 2025 shows net interest income of $387.6 million and net income applicable to common shares of $140.6 million Q1 2025 Income Statement Summary | Line Item | Amount (in thousands) | | :--- | :--- | | Net Interest Income | $387,643 | | Provision for Credit Losses | $31,403 | | Total Noninterest Income | $93,794 | | Total Noninterest Expense | $268,471 | | Net Income Applicable to Common Shares | $140,625 | [End of Period Balance Sheet](index=12&type=section&id=End%20of%20Period%20Balance%20Sheet) As of March 31, 2025, Old National's balance sheet showed total assets of $53.9 billion, with $41.0 billion in deposits and $6.5 billion in equity Balance Sheet Summary (as of March 31, 2025) | Account | Amount (in thousands) | | :--- | :--- | | Total Loans | $36,413,944 | | Total Investments | $11,167,096 | | **Total Assets** | **$53,877,944** | | Total Deposits | $41,034,572 | | Total Borrowed Funds | $5,447,054 | | **Total Shareholders' Equity** | **$6,534,654** | [Average Balance Sheet and Interest Rates](index=14&type=section&id=Average%20Balance%20Sheet%20and%20Interest%20Rates) This schedule details average balances and interest rates, showing Q1 2025 total average earning assets at $48.1 billion with a 5.30% yield Q1 2025 Average Balances and Rates | Metric | Rate/Yield | | :--- | :--- | | Yield on Total Earning Assets | 5.30% | | Cost of Total Interest-Bearing Liabilities | 2.66% | | Net Interest Rate Spread | 2.64% | | Net Interest Margin (FTE) | 3.27% | [Asset Quality (EOP)](index=16&type=section&id=Asset%20Quality%20(EOP)) This section provides a detailed five-quarter analysis of asset quality, with ACL on loans increasing to $401.9 million and nonaccrual loans rising to 1.29% Allowance for Credit Losses on Loans Roll-Forward (Q1 2025) | Item | Amount (in thousands) | | :--- | :--- | | Beginning ACL | $392,522 | | Provision for credit losses | $31,026 | | Net Charge-offs (NCOs) | ($21,616) | | **Ending ACL** | **$401,932** | Underperforming Assets (as of March 31, 2025) | Metric | Value (in thousands) | % of EOP Loans | | :--- | :--- | :--- | | Nonaccrual loans | $469,211 | 1.29% | | Total underperforming assets | $482,269 | 1.32% | [Appendix](index=3&type=section&id=Appendix) [Non-GAAP Measures](index=18&type=section&id=Non-GAAP%20Measures) This section provides detailed reconciliations for non-GAAP financial measures, aiding investors in assessing core operational performance by excluding specific items - The company provides non-GAAP results to assist investors in assessing underlying operating performance, excluding items that do not pertain to core business operations[14](index=14&type=chunk)[17](index=17&type=chunk) Reconciliation of GAAP to Adjusted EPS (Q1 2025) | Item | Per Share Amount | | :--- | :--- | | **EPS, diluted (GAAP)** | **$0.44** | | Merger-related charges, net | $0.01 | | Debt securities losses, net | $0.00 | | **Adjusted EPS, diluted (Non-GAAP)** | **$0.45** | [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains cautionary language regarding forward-looking statements, outlining risks and uncertainties that could cause actual results to differ from expectations - The report contains forward-looking statements that are not guarantees of future performance and are subject to risks and uncertainties[23](index=23&type=chunk)[25](index=25&type=chunk) - Key risks include changes in economic conditions, competition, government regulation, and potential difficulties related to the integration of Bremer Financial Corporation[23](index=23&type=chunk)[25](index=25&type=chunk)

The upcoming report from Old National Bancorp (ONB) is expected to reveal quarterly earnings of $0.42 per share, indicating a decline of 6.7% compared to the year-ago period. Analysts forecast revenues of $478.3 million, representing an increase of 8.7% year over year.The current level reflects an upward revision of 4.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this ...

Old National Bancorp (ONB) shares ended the last trading session 9.8% higher at $19.70. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.8% loss over the past four weeks.Old National Bancorp stock surged, driven by a massive jump in the broad markets. The jump was fueled by President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the ONB s ...

Core Insights - Old National Bancorp has rebranded its wealth advisory division from Old National Investments to Old National Wealth Advisors (ONWA) to better represent the comprehensive services offered by its financial professionals [1][2] Company Overview - Old National Bancorp is the holding company for Old National Bank, ranking as the sixth largest commercial bank headquartered in the Midwest with approximately $54 billion in assets and $30 billion in assets under management [4] - The company serves clients primarily in the Midwest and Southeast and has a history dating back to 1834, focusing on long-term partnerships and community support [4] Wealth Advisory Services - ONWA has around 125 team members, including over 70 wealth advisors, primarily located in the Midwest and Southeast [2] - The services offered by ONWA include investment strategies, estate planning, financial and retirement planning, college saving options, insurance guidance, and tax planning [6][7] - ONWA operates under three service models tailored to client needs: 1. Investment Strategies Team for clients focused on investing and planning [7] 2. Private Wealth Management for clients planning for retirement and major life events, providing dedicated resources [7] 3. 1834 division for high-net-worth clients with complex financial needs, offering institutional services [7] Strategic Partnerships - ONWA is backed by LPL Financial, a leading independent broker/dealer and registered investment advisor, enhancing its service offerings [2][8]

Group 1 - Old National Bancorp is scheduled to release its first-quarter 2025 earnings on April 22, 2025, at approximately 7:00 A.M. ET, followed by a conference call at 10:00 A.M. ET [1] - The company provides dial-in numbers for both U.S. and international participants, along with an access code for the conference call [1] - A webcast of the conference call will be available on Old National's Investor Relations website, with a replay accessible for one year after the call [1] Group 2 - Old National Bancorp is the holding company of Old National Bank, ranking as the sixth largest commercial bank in the Midwest with approximately $54 billion in assets and $30 billion in assets under management [2] - The company focuses on building long-term partnerships with clients and has been recognized as one of "The Civic 50," highlighting its commitment to community service [2]

Core Viewpoint - Old National Bancorp (ONB) has received a Zacks Rank 2 (Buy) upgrade due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, particularly influenced by institutional investors who adjust their valuations based on these estimates [4][6]. - Rising earnings estimates for Old National Bancorp indicate an improvement in the company's underlying business, suggesting that investors may respond positively by driving the stock price higher [5][10]. Earnings Estimate Revisions - For the fiscal year ending December 2025, Old National Bancorp is projected to earn $2.08 per share, reflecting an 11.8% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Old National Bancorp has risen by 2.2%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, highlighting their potential for market-beating returns [9][10]. - Old National Bancorp's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a favorable outlook for the stock in the near term [10].

Company Overview - Old National Bancorp is the holding company of Old National Bank, the sixth largest commercial bank headquartered in the Midwest [3] - The company serves clients primarily in the Midwest and Southeast, with approximately $54 billion in assets and $30 billion in assets under management [3] - Old National ranks among the top 30 banking companies in the United States and has a history dating back to 1834 [3] - The company focuses on building long-term partnerships with clients and supporting the communities it serves [3] - Old National offers extensive services in consumer and commercial banking, as well as comprehensive wealth management and capital markets services [3] - In 2024, Old National was recognized as one of "The Civic 50," an honor for the 50 most community-minded companies in the U.S. [3] Upcoming Events - Jim Ryan, Chairman and CEO of Old National Bancorp, is scheduled to present at the Raymond James & Associates 46th Annual Institutional Investors Conference on March 3, 2025, at 1:40 p.m. Eastern Time [1] - Mr. Ryan will also present at the 2025 RBC Capital Markets Global Financial Institutions Conference on March 4, 2025, at 10:40 a.m. Eastern Time [1] - Interested investors can access live audio webcasts of these events in the Investor Relations section at oldnational.com, with replays available afterward [2]

Group 1 - The Company declared a quarterly cash dividend of $0.14 per share on its common stock, payable on March 17, 2025, to shareholders of record as of March 5, 2025 [1] - A quarterly cash dividend of $17.50 per share on the 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and Series C, was also declared, payable on May 20, 2025, to shareholders of record as of May 5, 2025 [2] - The Board of Directors approved a stock repurchase program authorizing the repurchase of up to $200 million of the Company's common stock, effective until February 28, 2026 [3] Group 2 - Old National Bancorp is the holding company of Old National Bank, ranking as the sixth largest commercial bank in the Midwest with approximately $54 billion in assets and $30 billion in assets under management [4] - The Company focuses on building long-term partnerships with clients and supporting the communities it serves, offering services in consumer and commercial banking, wealth management, and capital markets [4] - In 2024, Old National was recognized as one of "The Civic 50," an honor for the 50 most community-minded companies in the United States [4]