Core Insights - Old National Bancorp has appointed Matt Keen as Chief Information Officer (CIO), joining the Executive Leadership Team [1][2] - Keen brings over 30 years of technology leadership experience, including roles at American Express, Ameriprise Financial, and Bremer Bank [2][4] - The appointment aligns with Old National's strategy to enhance technology capabilities to meet client needs during its expansion in the Midwest and Southeast [2][3] Company Overview - Old National Bancorp is the fifth largest commercial bank headquartered in the Midwest, with approximately $70 billion in assets and $37 billion in assets under management [6] - The company focuses on building long-term partnerships with clients and supporting the communities it serves [6] - Old National offers a range of services, including consumer and commercial banking, wealth management, and capital markets services [6] Leadership Transition - Matt Keen succeeds retiring CIO Paul S. Kilroy, who led significant improvements in contact center quality and received the "Tech Exec of the Year" award in 2024 [5] - Keen aims to advance the technology foundation established by Kilroy and enhance client and team member experiences through innovation [3][4]

Exhibit 99.1 3rd Quarter 2024 Investment Thesis November 6, 2024 Slides 5 — 14 Executive Summary 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 wr ...

Core Points - Old National Bancorp has been recognized as one of "The Civic 50" honorees for 2025, marking the second consecutive year for this achievement [1][5] - The Civic 50 award is given to the 50 most community-minded companies in the U.S., based on criteria such as employee volunteering, community investment, corporate citizenship, and social impact programs [2][4] Company Overview - Old National Bancorp is the holding company for Old National Bank, ranking as the fifth largest commercial bank headquartered in the Midwest, with approximately $70 billion in assets and $37 billion in assets under management as of March 31, 2025 [5] - The company focuses on building long-term partnerships with clients while supporting the communities it serves, offering services in consumer and commercial banking, wealth management, and capital markets [5] Community Engagement - In 2024, Old National employees logged over 67,000 collective volunteer hours, contributing to a total of more than 6.5 million hours volunteered by The Civic 50 companies, which is double the average for U.S. companies not in this group [3] - Points of Light emphasizes that companies like Old National demonstrate how social impact initiatives benefit employee well-being and strengthen community ties [4] Recognition Criteria - The Civic 50 honorees are selected based on four dimensions of corporate citizenship and social impact programs: investment of resources and volunteerism, integration across business functions, institutionalization through policies and systems, and impact measurement [7]

Core Viewpoint - Old National Bancorp has successfully completed its merger with Bremer Financial Corporation, enhancing its position among the top banking companies in the U.S. [1][2] Company Overview - Following the merger, Old National will have approximately $70 billion in assets and $37 billion in assets under management, ranking it among the top 25 banking companies headquartered in the U.S. [2][8] - The combined organization will operate under the Old National Bancorp and Old National Bank names, with Bremer Bank functioning as a division of Old National Bank until the systems conversion in mid-October 2025 [3][4]. Community Commitment - Old National has increased its Community Growth Plan commitments from $9.5 billion to $11.1 billion, adding approximately $1.6 billion in lending, investments, and philanthropy in Minnesota, North Dakota, and Wisconsin [5]. Board of Directors - Daniel Reardon will join the Old National Bancorp Board of Directors, bringing extensive experience in executive management, philanthropy, and banking [6][7].

Financial Performance - Net interest income for Q1 2025 was $387,643,000, a slight decrease from $394,180,000 in Q4 2024, but an increase from $356,458,000 in Q1 2024[163] - Net income available to common shareholders for Q1 2025 was $140,625,000, down from $149,839,000 in Q4 2024 but up from $116,250,000 in Q1 2024[163] - Net interest income decreased by $6.5 million to $387.6 million compared to Q4 2024, influenced by lower accretion and fewer days in the quarter[177] - Noninterest income decreased by $2.0 million to $93.8 million compared to Q4 2024, reflecting lower company-owned life insurance and seasonally lower bank fees[178] - Noninterest expense decreased by $8.4 million compared to Q4 2024, including $5.9 million of pre-tax merger-related expenses[179] - Net interest income comprised 81% of total revenues for Q1 2025, highlighting its significance to overall earnings[183] - Noninterest income increased by $16.3 million to $93.8 million for the three months ended March 31, 2025, compared to $77.5 million in the same period of 2024, primarily due to the acquisition of CapStar and higher mortgage banking revenue[200] Loan and Deposit Growth - Total loans as of March 31, 2025, reached $36,413,944,000, compared to $36,285,887,000 at the end of 2024[163] - Total deposits rose to $41,034,572,000 as of March 31, 2025, compared to $40,823,560,000 at the end of 2024[163] - Loan balances increased by $128.1 million, or 1.4% annualized, to $36.4 billion at March 31, 2025, with a 2.3% annualized increase excluding $71 million of commercial real estate loans sold[176] - Total deposits increased by $211.0 million to $41.03 billion as of March 31, 2025, reflecting organic growth[225] Credit Losses and Asset Quality - Provision for credit losses increased to $31,403,000 in Q1 2025 from $27,017,000 in Q4 2024 and $18,891,000 in Q1 2024[163] - The provision for credit losses on loans rose to $31.026 million, a 30.1% increase from $23.853 million in the same period in 2024[199] - Net charge-offs on non-PCD loans increased by 210.8% to $18.836 million compared to $6.061 million in the prior year[199] - The allowance for credit losses on loans was $401.9 million at March 31, 2025, an increase from $392.5 million at December 31, 2024, driven by macroeconomic factors and loan growth[244] - Net charge-offs on loans totaled $21.6 million for the three months ended March 31, 2025, compared to $11.8 million for the same period in 2024, with annualized net charge-offs to average loans at 0.24%[240] - Under-performing assets rose to $482.3 million at March 31, 2025, compared to $456.3 million at December 31, 2024, with under-performing assets as a percentage of total loans at 1.32%, a 6 basis point increase from 1.26%[237] Capital and Equity - The Tier 1 common equity ratio improved to 11.62% in Q1 2025 from 11.38% in Q4 2024[163] - Shareholders' equity rose to $6.5 billion as of March 31, 2025, up from $6.3 billion at the end of 2024[227] - The Tier 1 capital to total average assets ratio was 9.44% as of March 31, 2025, compared to 9.21% at December 31, 2024[229] - The total capital to risk-weighted total assets ratio was 13.68% as of March 31, 2025, up from 13.37% at the end of 2024[229] Mergers and Acquisitions - Old National completed the acquisition of CapStar on April 1, 2024, and anticipates closing the merger with Bremer Financial Corporation on May 1, 2025[181] - Loans acquired in the CapStar transaction totaled $2.1 billion at the close of the transaction[196] - Deposits assumed in the CapStar transaction amounted to $2.6 billion at the close of the transaction[198] Interest Rate and Liquidity Management - The Federal Reserve's Federal Funds Rate was in a target range of 4.25% to 4.50% at March 31, 2025, down from 5.33% at the same time in 2024[184] - The company maintains a neutral interest rate risk position through disciplined balance sheet management[254] - Liquidity management strategies include maintaining strategic and contingency liquidity plans to ensure sufficient funding for balance sheet growth[257] - The company filed an automatic shelf registration statement with the SEC on May 31, 2023, allowing for the issuance of unspecified amounts of debt or equity securities[257] Risk Management - 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[231] - The company has adopted a Risk Appetite Statement to assess and mitigate various risks, including credit, market, and operational risks[232] - The interest rate management process aims to maximize net interest income while maintaining acceptable limits for interest rate risk[248]

My last article on Old National Bancorp (NASDAQ: ONB ) was about a year ago, and I highlighted the quality of its deposits but also the unrealized losses that limited its upside. Loans struggled to grow on a quarterly basis, and the sameHi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old.In 2023 I graduated in Business Administration and I completed CFA level 1 in 2024. I am currently a Popular Investor on the investing platform eToro, you can see there my publi ...

Financial Data and Key Metrics Changes - The company reported GAAP earnings per diluted common share of $0.44, with adjusted earnings per share of $0.45 after excluding merger-related charges [13] - Tangible book value per share increased by 5% compared to the previous quarter and by 13% year-over-year [15] - The CET1 ratio improved to 11.62%, up 86 basis points from a year ago [16] Business Line Data and Key Metrics Changes - Total loans increased by 1.5% annualized from the last quarter, or 2.3% excluding approximately $70 million of commercial real estate (CRE) loan sales [17] - Net interest income decreased as expected, with net interest margin down modestly due to lower accretion and fewer days in the quarter [24] - Adjusted noninterest income was $94 million for the quarter, above guidance, with strong performance in primary fee businesses [25] Market Data and Key Metrics Changes - Total deposits were up 2.1% annualized, with core deposits (excluding brokered) up nearly 1.7% annualized [20] - Noninterest-bearing deposits remained stable at 23% of core deposits [20] - The loan-to-deposit ratio was consistent at 89% [21] Company Strategy and Development Direction - The company is preparing for the integration of its partnership with Bremer Bank, expecting to close on May 1, which will enhance its footprint and provide balance sheet flexibility [10][12] - The company aims to maintain strong credit quality and execute its deposit strategy effectively, anticipating continued success in deposit growth [36] - The guidance for 2025 includes the original M&A marks and $2.4 billion of loan sales, with expectations for net interest income to increase with the addition of Bremer [32][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the uncertain macroeconomic environment, supported by a robust balance sheet and diverse revenue streams [9] - The company noted that while there is uncertainty surrounding global trade and macroeconomic outlook, the Bremer partnership creates interesting alternatives for growth [37] - Management highlighted that businesses are currently in a "wait and see" mode but have not changed their plans, indicating a strong pipeline for future growth [66] Other Important Information - The company has received all necessary regulatory approvals for the Bremer Bank partnership [10] - The allowance for credit losses to total loans stands at 116 basis points, reflecting a proactive approach to credit monitoring [27] Q&A Session Summary Question: Impact of Bremer on NII outlook - Management indicated that the original M&A assumptions remain, but day 1 capital levels are likely to be higher, which may reduce the need for the full $2.4 billion loan sale [44] Question: Deposit beta and Bremer inclusion - The 40% deposit beta does not include Bremer, and management expects to match uprate beta on the downside by the end of Q2 [46][47] Question: Fee income run rate - Management suggested a good run rate for other fee income would be around $5 million to $8 million, excluding discrete items from previous quarters [49] Question: Customer sentiment and economic outlook - Management noted that businesses are generally doing well, with a strong pipeline, despite a pause in activity due to uncertainty [65] Question: Loan growth guidance - The pipeline is up 30% from a year ago, indicating strong loan growth potential, although some caution is warranted due to market competitiveness [72] Question: Capital management post-Bremer - Management is focused on optimizing capital and may consider buybacks in the future, but priority is on maintaining a larger balance sheet [76] Question: Loss provision guidance amidst economic uncertainty - Management feels confident about their loss provision guidance, which accounts for growth and current economic conditions [80] Question: Expansion plans in Nashville - The company remains committed to growing its presence in Nashville, viewing it as a long-term investment opportunity [83]

Financial Data and Key Metrics Changes - The company reported GAAP earnings per diluted common share of $0.44 for Q1, with adjusted earnings per share at $0.45 after excluding merger-related charges [8][14] - Tangible book value per share increased by 5% compared to the previous quarter and by 13% year-over-year [9][18] - The CET1 ratio was 11.62%, up 86 basis points from a year ago, indicating a strong capital position [9][18] Business Line Data and Key Metrics Changes - Total loans increased by 1.5% annualized from the last quarter, or 2.3% excluding approximately $70 million of commercial real estate (CRE) loan sales [9][10] - Non-interest income was $94 million for the quarter, benefiting from a gain on the sale of previously acquired loans and stable fee income [14][15] - Adjusted non-interest expenses were $263 million, which was better than guidance due to lower other expenses [15] Market Data and Key Metrics Changes - Total deposits were up 2.1% annualized, with core deposits (excluding brokered) up nearly 1.7% annualized [11][12] - Non-interest bearing deposits remained stable at 23% of core deposits [11] - The loan-to-deposit ratio was consistent at 89% [12] Company Strategy and Development Direction - The company is preparing for the integration of its partnership with Bremer Bank, which is expected to enhance its footprint and provide balance sheet flexibility [5][7] - The company aims to control deposit costs while responding proactively to future Fed rate actions [12][20] - The guidance for 2025 includes expectations for loan growth of 4% to 6%, excluding the impact of Bremer [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strength despite macroeconomic uncertainties, supported by a robust balance sheet and diverse revenue streams [5][24] - The company anticipates that net interest income and margin will grow in 2025, bolstered by the Bremer partnership [11][19] - Management acknowledged the potential for a wider range of outcomes due to global trade uncertainties but remains optimistic about growth [22][24] Other Important Information - The company received all necessary regulatory approvals for the Bremer partnership, with a legal close date anticipated on May 1 [5][25] - The company is focused on maintaining strong credit quality, with net charge-offs in the expected range [4][16] Q&A Session Summary Question: Impact of Bremer on NII outlook - Management indicated that the NII outlook remains based on original M&A assumptions, with potential for higher capital levels post-Bremer [29][30] Question: Guidance on deposit beta - The deposit beta of 40% does not include Bremer and is expected to be reached by Q2 [31][32] Question: Fee income run rate - A good run rate for other fee income, excluding discrete items, is suggested to be around $5 million to $8 million [34] Question: Customer sentiment and economic outlook - Customers are generally doing well, with a pause in activity but no significant changes in plans [50][52] Question: Loan growth guidance - The pipeline for loans is up 30% year-over-year, indicating strong potential for loan growth despite macro uncertainties [58][60] Question: Capital management post-Bremer - Management is considering the optimal use of capital, including potential buybacks, but prioritizes balance sheet strength [61][62]

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 ...