| --- | --- | --- | --- | --- | --- | |----------------------------------------------------|-------|-------|---------------------------|-------|--------------------------------| | (dollars in thousands) \nUnfunded loan commitments | | $ | June 30, 2024 \n8,789,910 | $ | December 31, 2023 \n8,912,587 | | (1) | | | | | | | Standby letters of credit | | | 184,482 | | 192,237 | Derivative financial instruments: The fair values of derivative financial instruments are based on market quotes developed using observ ...

The Disability Equality Index requires 30-40 hours to complete online each year and was launched in 2015 in the United States as a joint initiative of Disability:IN and The American Association of People with Disabilities (AAPD). It is acknowledged today as the most robust disability inclusion assessment tool in operation. ABOUT OLD NATIONAL ABOUT DISABILITY:IN® Disability:IN is a global organization driving disability inclusion and equality in business. More than 500 corporations partner with Disability:IN ...

Financial Data and Key Metrics Changes - The company reported GAAP earnings of $0.37 per common share, with adjusted EPS at $0.46, exceeding consensus estimates [49][53] - Adjusted return on average tangible common equity for the quarter was 17.2%, and adjusted ROA was 1.12% [8] - The adjusted efficiency ratio was a low 52.6% [8] - Total deposits grew by $2.3 billion, with $2.1 billion attributable to the CapStar acquisition [11][54] - Total loans increased by $2.6 billion, with $2.1 billion from CapStar, and organic loan growth was 5.9% annualized [54][56] Business Line Data and Key Metrics Changes - Adjusted noninterest income was $87 million for the quarter, with CapStar contributing $7 million [18] - The investment portfolio increased by 3% due to the CapStar transaction, improving total portfolio yields [51] - Noninterest expenses were $264 million for the quarter, with CapStar contributing $18 million [14] Market Data and Key Metrics Changes - The company maintained a low total cost of deposits at 216 basis points, which is a competitive advantage [13][52] - The allowance for credit losses to total loans was 108 basis points, up 5 basis points from the prior quarter [15] Company Strategy and Development Direction - The company is focused on accelerating its wealth management, treasury management, and capital markets businesses [2] - The integration of CapStar Bank has expanded the company's footprint into several strong southeastern markets [3] - The company aims to continue organic loan growth funded by core deposits, with a disciplined approach to operating expenses [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the balance sheet and the ability to manage rate risk effectively [33] - The outlook for net interest income (NII) is expected to increase modestly in the third and fourth quarters, with a focus on maintaining a neutral rate risk position [30][34] - Management remains optimistic about growth opportunities in the Nashville and Southeast markets following the CapStar acquisition [82] Other Important Information - The company reported a 10% year-over-year growth in tangible book value per share [10][54] - The company has a well-diversified loan portfolio, with a focus on maintaining strong credit metrics [19][20] Q&A Session Summary Question: Insights on the beta assumption and its future trend - Management indicated that the down beta is primarily from the exception price book, which is expected to drop significantly [40] Question: Loan growth sources and future trends - Loan growth was broad across the footprint, with contributions from both commercial real estate (CRE) and commercial & industrial (C&I) sectors [42] Question: Funding for loan growth and deposit assumptions - The company plans to fund loan growth primarily through core deposits, with the capacity to utilize brokered and wholesale funding if necessary [76] Question: Credit migration trends and metrics - Management noted that there was migration into criticized and classified categories, primarily from CapStar, but overall credit metrics remain strong [72] Question: Outlook on net interest income and margin trends - Management expects a slight improvement in margins in the fourth quarter, with new production being margin accretive [69][93]

Old National Bancorp, which belongs to the Zacks Banks - Midwest industry, posted revenues of $482.03 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.67%. This compares to year-ago revenues of $469.63 million. The company has topped consensus revenue estimates four times over the last four quarters. While Old National Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? It will be interesting to ...

CAPITAL Capital ratios remain strong. • Preliminary total risk-based capital down 3 bps to 12.71% and preliminary regulatory Tier 1 capital down 7 bps to 11.33%, as strong retained earnings were more than offset by the CapStar transaction and loan growth. • Tangible common equity to tangible assets was 6.94% compared to 6.86%. CAPSTAR TRANSACTION 3 The Company presents EPS, the efficiency ratio, return on average common equity, return on average tangible common equity, and net income applicable to common sh ...

ABOUT OLD NATIONAL Old National Bancorp (NASDAQ:ONB) is the holding company of Old National Bank. The sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients in the Midwest and Southeast. With approximately $53 billion of assets and $29 billion of assets under management (including CapStar Financial Holdings, Inc. on a pro forma basis as of March 31, 2024), Old National ranks among the top 30 banking companies headquartered in the United States. Tracing our roots to 1 ...

"Old National is pleased to once again receive the highest star rating from BauerFinancial," said Jim Ryan, Old National Chairman and CEO. "This award, based on independent research, recognizes the strength and stability of Old National and our ability to consistently exceed our clients' expectations." ABOUT OLD NATIONAL Since 1983, BauerFinancial has used a 5-Star scale to analyze and grade banks in the United States. Institutions cannot opt out of or pay for a BauerFinancial rating. Old National Bancorp ( ...

EVANSVILLE, Ind., May 16, 2024 (GLOBE NEWSWIRE) -- Old National Bancorp ("Old National") has been named by Points of Light as one of "The Civic 50" honorees for 2024 – a list that recognizes the 50 most community-minded companies in the nation. "Expectations for companies to be leaders in civic engagement continue to increase," said Jennifer Sirangelo, president and CEO of Points of Light. "Old National demonstrates how to maximize the full range of their assets – from people power to policy to financial co ...

EVANSVILLE, Ind., May 16, 2024 (GLOBE NEWSWIRE) -- Old National Bancorp ("Old National") has been named by Points of Light as one of "The Civic 50" honorees for 2024 – a list that recognizes the 50 most community-minded companies in the nation. A global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world, Points of Light has recognized the 50 most community-minded companies in the nation every year since 2012. The Civic 50 award is based on emp ...

Boudreau (Madison, Wisc., office) receives Employee Veteran Leadership awardRubocki (Joliet, Ill., office) named a Veteran Champion of the Year in Corporate America EVANSVILLE, Ind., May 06, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:ONB) – Old National Bancorp ("Old National") team members Jeff Boudreau, Community Banking Market Manager, VP, and Cheri Rubocki, Talent Acquisition Director, SR, SVP, were recently honored by the military employment advocacy group Military Friendly®. Boudreau received the Employee Veter ...