Financial Performance - Net income applicable to common shareholders for 2024 was $523.1 million, or $1.68 per diluted common share, with an adjusted net income of $578.1 million, or $1.86 per diluted common share [225][226]. - Diluted net income per share decreased to $1.68 in 2024 from $1.94 in 2023, representing a decline of approximately 13.4% [234]. - Net income applicable to common shares for 2024 was $523,053, down from $565,857 in 2023, reflecting a decrease of approximately 7.4% [244]. - Adjusted net income applicable to common shares for 2024 was $578,054, compared to $599,227 in 2023, indicating a decline of about 3.5% [244]. - Return on average common equity was 9.06% in 2024, down from 11.29% in 2023, but up from 8.92% in 2022 [246]. Asset and Loan Growth - Total loans reached $36.29 billion as of December 31, 2024, compared to $33.62 billion a year earlier [232]. - Total loans increased to $36,285,887 in 2024, up from $32,991,927 in 2023, indicating a growth of about 10.4% [234]. - Total assets grew to $53,552,272 in 2024, compared to $49,089,836 in 2023, marking an increase of approximately 9.9% [234]. - Average loans, including loans held-for-sale, increased by $3.3 billion in 2024, primarily due to loans acquired in the CapStar transaction, totaling $2.1 billion at transaction close [261]. - Total loan portfolio rose to $36.3 billion in 2024, an increase of $3.3 billion or 10.0% compared to 2023 [284]. Income and Expense Analysis - Net interest income increased by 2% to $1.5 billion in 2024, driven by strong loan growth and the interest rate environment [227]. - Noninterest income rose from $333.3 million in 2023 to $354.7 million in 2024, primarily due to the CapStar merger and higher wealth management fees [227]. - Noninterest expense increased by $68.1 million in 2024, including $37.3 million of merger-related expenses and $13.3 million related to pension asset distribution [227]. - The efficiency ratio improved to 55.85% in 2024 from 53.70% in 2023, indicating enhanced operational efficiency [234]. - The net interest margin for 2024 was 3.31%, a decrease from 3.54% in 2023, reflecting a decline of approximately 6.5% [244]. Credit Quality and Risk Management - The allowance for credit losses on loans increased to 1.08% of ending loans in 2024, compared to 0.93% in 2023, suggesting a more conservative approach to credit risk [234]. - Non-performing loans to ending loans increased to 1.23% in 2024 from 0.83% in 2023, indicating a rise in credit quality concerns [234]. - The allowance for credit losses on loans increased to $392.5 million from $307.6 million, reflecting organic loan growth and the CapStar acquisition [298]. - The net charge-offs to average loans ratio was 0.17% in 2024, reflecting a significant increase from 0.06% in 2023 [263]. - The company noted that future loan growth, a decline in recoveries, or an increase in charge-offs could lead to higher provision expenses [336]. Mergers and Acquisitions - Old National completed the acquisition of CapStar on April 1, 2024, enhancing its presence in Nashville and other Southeastern markets [228]. - The partnership with Bremer Bank was announced in 2024, expected to close in mid-2025, expanding opportunities in the upper Midwest [229]. - Goodwill and other intangible assets totaled $2.3 billion, an increase of $195.1 million due to the CapStar acquisition [301]. - Commercial and commercial real estate loans increased by $2.9 billion to $26.6 billion, primarily due to the acquisition of CapStar and balanced loan production across markets [287]. Regulatory and Tax Considerations - The effective tax rate decreased to 20.8% in 2024 from 22.5% in 2023, reflecting lower pre-tax book income and increased tax credits [273]. - The company reviews income tax expense and deferred tax assets quarterly, adjusting balances as new information becomes available, adhering to complex U.S. tax laws [378]. - Management believes that judgments and estimates regarding tax provisions are reasonable, but actual results could differ, impacting the effective income tax rate significantly [378]. Liquidity and Funding - Total funding increased to $46.24 billion at December 31, 2024, up 8.6% from $42.57 billion in 2023 [303]. - Total deposits rose to $40.82 billion, a 9.6% increase from $37.24 billion in 2023, driven by the CapStar transaction and organic growth [303]. - Old National Bancorp has available liquid funds totaling $299,179 from the parent company and $14,586,546 from subsidiaries, including cash and unencumbered securities [354]. - The company can pay dividends of $889.2 million without prior regulatory approval while maintaining capital levels above regulatory minimums [357]. Interest Rate Management - The yield on average earning assets increased by 41 basis points from 5.18% in 2023 to 5.59% in 2024, while the cost of interest-bearing liabilities rose by 73 basis points from 2.25% to 2.98% [259]. - Interest rate risk management includes using various techniques such as adjusting balance sheet mix and modifying investment securities characteristics [343]. - The company continues to model different interest rate scenarios to assess sensitivity to market changes, recognizing that model outputs are not guarantees of actual results [347].

Core Insights - United Theranostics has successfully closed a $15 million senior debt facility with Old National Bank to expand its network of clinics offering radiopharmaceutical therapies and clinical trials for new drugs [1][2] Company Overview - United Theranostics is a national private practice focused on providing broader access to radiopharmaceutical therapy and advanced molecular imaging in community settings [2] - The company aims to establish up to eight new centers across the U.S. within the next 12 months, modeled after its existing facilities in Glen Burnie, MD, and Princeton, NJ [2] - The company was founded by Dr. Michael Morris, Dr. Babak Saboury, and Dr. Eliot Siegel, with Dr. Munir Ghesani recently joining as Chief Medical Officer [3] Financial Partnership - The partnership with Old National Bank is expected to provide United Theranostics with a strong financial backing to accelerate clinic growth throughout 2025 and 2026 [2] - The funding will support the expansion of the company's nationwide network of community-based facilities offering both FDA-approved therapies and those in clinical trial development [2] Commitment to Patient Care - United Theranostics is dedicated to making personalized theranostics cancer treatment and clinical trials accessible to all patients in a comfortable, patient-centric outpatient setting [4]

Company Overview - Old National Bancorp (ONB) currently has a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Price Performance - Over the past week, ONB shares have increased by 3.38%, outperforming the Zacks Banks - Midwest industry, which rose by 1.21% [5] - In a longer time frame, ONB shares have gained 13.36% over the past month, compared to the industry's 4.48% [5] - Over the last quarter, ONB shares increased by 6.57%, and over the past year, they have surged by 50.66%, while the S&P 500 only moved 5.98% and 23.28%, respectively [6] Trading Volume - The average 20-day trading volume for ONB is 3,377,007 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, 3 earnings estimates for ONB have been revised upwards, while only 1 estimate was revised downwards, leading to an increase in the consensus estimate from $2.01 to $2.08 [9] - For the next fiscal year, 3 estimates have also moved upwards with no downward revisions during the same period [9] Conclusion - Considering the positive price trends, trading volume, and earnings outlook, ONB is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]

Financial Data and Key Metrics Changes - Old National reported strong results for the fourth quarter and the full-year 2024, successfully navigating a challenging environment while maintaining an offensive growth strategy [5]. Business Line Data and Key Metrics Changes - Specific details regarding changes in various business lines were not provided in the available content. Market Data and Key Metrics Changes - Information on market data and key metrics changes was not included in the provided content. Company Strategy and Development Direction and Industry Competition - The company emphasized its commitment to an offensive growth strategy, which includes investing in talent and remaining opportunistic in its approach [5]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2024 but highlighted the successful navigation of these challenges, indicating a positive outlook for future performance [5]. Other Important Information - The company referred to its forward-looking statements and risk factors, which are disclosed in SEC filings, indicating a focus on transparency and investor understanding [3][4]. Q&A Session Summary - No specific questions and answers from the Q&A session were provided in the available content.

Non-GAAP Financial Measures 4th Quarter 2024 Financial Review January 21, 2025 Forward-Looking Statements These materials contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission ("SEC"), in press releases, and in oral and written statements m ...

Core Insights - Old National Bancorp (ONB) reported revenue of $495.72 million for the quarter ended December 2024, reflecting a year-over-year increase of 5.3% and surpassing the Zacks Consensus Estimate of $486.03 million by 1.99% [1] - The company's earnings per share (EPS) for the quarter was $0.49, an increase from $0.46 in the same quarter last year, and exceeded the consensus EPS estimate of $0.46 by 6.52% [1] Financial Performance Metrics - Efficiency Ratio was reported at 54.4%, higher than the estimated 53% by analysts [4] - Net interest margin (FTE) remained stable at 3.3%, matching the analysts' average estimate [4] - Average balance of total earning assets was $48.41 billion, slightly above the two-analyst average estimate of $48.22 billion [4] - Net charge-offs to average loans were reported at 0.2%, consistent with the two-analyst average estimate [4] - Total noninterest income reached $95.77 million, exceeding the three-analyst average estimate of $85.94 million [4] - Net Interest Income (FTE) was $399.96 million, slightly below the three-analyst average estimate of $400.09 million [4] - Service charges on deposit accounts were $20.58 million, above the estimated $19.83 million by analysts [4] - Wealth and investment services fees totaled $30.01 million, surpassing the two-analyst average estimate of $29.36 million [4] - Mortgage banking revenue was reported at $7.03 million, exceeding the average estimate of $6.55 million based on two analysts [4] Stock Performance - Shares of Old National Bancorp have returned +5.9% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Old National Bancorp (ONB) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.52%. 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 $0.46, delivering no surprise.Over the last fou ...

Exhibit 99.1 Old National Bancorp Reports Fourth Quarter and Full-Year 2024 Results Evansville, Ind. (January 21, 2025) Old National Bancorp (NASDAQ: ONB) reports 4Q24 net income applicable to common shares of $149.8 million, diluted EPS of $0.47; $156.0 million and $0.49 on an adjusted basis, respectively. Full- year net income applicable to common shares of $523.1 million, diluted EPS of $1.68; $578.1 million and $1.86 on an adjusted basis, respectively. 1 1 CEO COMMENTARY: "Old National's successful 4th ...

EVANSVILLE, Ind., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Old National Bancorp (NASDAQ: ONB) reports 4Q24 net income applicable to common shares of $149.8 million, diluted EPS of $0.47; $156.0 million and $0.49 on an adjusted1 basis, respectively. Full-year net income applicable to common shares of $523.1 million, diluted EPS of $1.68; $578.1 million and $1.86 on an adjusted1 basis, respectively. CEO COMMENTARY: "Old National's successful 4th quarter was driven by continued growth in our peer-leading deposit fra ...

Core Viewpoint - Analysts project that Old National Bancorp (ONB) will report quarterly earnings of $0.46 per share, with revenues expected to reach $486.03 million, reflecting a 3.3% increase year over year [1] Earnings Estimates - The consensus EPS estimate for the quarter has remained unchanged over the past 30 days, indicating a reassessment by covering analysts [1][2] - Changes in earnings estimates are crucial for predicting investor reactions to the stock, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock price performance [2] Key Metrics Forecast - Analysts expect the 'Efficiency Ratio' to be 53.0%, down from 59% a year ago [4] - The 'Net Interest Margin (FTE)' is projected at 3.3%, slightly lower than the previous year's 3.4% [4] - 'Average Balance - Total Earning Assets' is anticipated to reach $48.22 billion, up from $43.70 billion in the same quarter last year [4] Income Projections - 'Total Noninterest Income' is expected to be $85.94 million, down from $100.09 million in the same quarter last year [5] - 'Net Interest Income (FTE)' is forecasted to be $400.09 million, an increase from $370.51 million a year ago [5] Specific Revenue Estimates - 'Service Charges on Deposit Accounts' are projected at $19.83 million, compared to $18.67 million last year [6] - 'Wealth and Investment Services Fees' are expected to reach $29.36 million, up from $27.66 million a year ago [6] - 'Mortgage Banking Revenue' is forecasted at $6.55 million, significantly higher than the $3.69 million reported in the same quarter last year [6] Stock Performance - Over the past month, Old National Bancorp shares have recorded a return of -2.3%, outperforming the Zacks S&P 500 composite's -3.3% change [7] - Based on its Zacks Rank 1 (Strong Buy), ONB is expected to outperform the overall market in the upcoming period [7]