The tax-equivalent adjustment to net interest income and net interest margin recognizes the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Management believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully tax-equivalent basis and that it may enhance comparability for peer comparison purposes. S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-15817 or Old National Bancorp (Exact name of registrant as specified in its charter) Indiana 35-1539838 (State or oth ...

Old National Bancorp (NASDAQ:ONB) Q2 2023 Earnings Call Transcript July 25, 2023 10:00 AM ET Company Participants Jim Ryan - Chief Executive Officer Brendon Falconer - Chief Financial Officer Mark Sander - President and Chief Operating Officer Conference Call Participants Ben Gerlinger - Hovde Group Scott Siefers - Piper Sandler David Long - Raymond James Chris McGratty - KBW Terry McEvoy - Stephens Brody Preston - UBS Jon Arfstrom - RBC Capital Markets Operator Welcome to the Old National Bancorp Second Qu ...

1 Includes expenses related to the tragic April 10 event at our downtown Louisville location | --- | --- | --- | |------------------------------------|---------|---------------------| | | | Reported Adjusted 1 | | EPS | $0.52 | $0.54 | | | | | | Net Income | $151 | $156 | | | | | | Return on Average Assets | 1.29% | 1.33% | | | | | | Return on Average TCE 1 | 21.4% | 22.1% | | | | | | Efficiency Ratio 1 | 51.2% | 49.4% | | 1 | | | | Tangible common book value | $10.03 | | | Total Cost of Deposits | 115 bps ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-15817 Old National Bancorp (Exact name of registrant as specified in its charter) Indiana 35-1539838 (State or ot ...

Old National Bancorp (NASDAQ:ONB) Q1 2023 Earnings Conference Call April 25, 2023 10:00 AM ET Company Participants James Ryan - CEO & Director Brendon Falconer - CFO John Kamin - EVP & Chief Information Officer Mark Sander - President & COO Conference Call Participants Robert Siefers - Piper Sandler & Co. Benjamin Gerlinger - Hovde Group Terence McEvoy - Stephens Inc. Jon Arfstrom - RBC Capital Markets Broderick Preston - UBS Christopher McGratty - KBW Operator Welcome to the Old National Bancorp First Quar ...

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Financial Performance - Old National's net interest income increased to $1.3 billion in 2022, up from $596.4 million in 2021, driven by the First Midwest merger and loan growth [201]. - Noninterest income rose from $214.2 million in 2021 to $399.8 million in 2022, including a $90.7 million gain from the sale of health savings accounts [201]. - Net income applicable to common shareholders was $414.2 million, or $1.50 per diluted common share, reflecting strong performance [201]. - The net interest margin expanded by 58 basis points, supported by robust loan growth of 12% [201]. - Net interest income for 2022 reached $1,327,936, a significant increase from $596,400 in 2021, representing a growth of approximately 122.3% [215]. - Noninterest income increased to $399,779 in 2022, up from $214,219 in 2021, reflecting an increase of about 86.5% [215]. - Net income applicable to common shareholders increased to $414,169 in 2022, compared to $277,538 in 2021, marking a growth of approximately 49% [227]. - The return on tangible common equity for 2022 was 15.72%, up from 14.74% in 2021, indicating improved profitability [227]. Asset and Loan Growth - Total assets reached $46.76 billion as of December 31, 2022, compared to $46.22 billion in the previous quarter [212]. - Old National's total loans increased to $31.12 billion, up from $30.53 billion in the previous quarter [212]. - Total loans grew to $31,123,641 in 2022, compared to $13,601,846 in 2021, marking an increase of approximately 129.0% [215]. - Average earning assets increased to $38,751,786 in 2022 from $21,152,209 in 2021, reflecting growth in the asset base [225]. - The loan portfolio totaled $31.1 billion at December 31, 2022, compared to $13.6 billion at December 31, 2021, with significant increases in commercial and commercial real estate loans [265]. - Commercial and commercial real estate loans increased to $22.0 billion at December 31, 2022, up $12.2 billion from the previous year, representing 53% of earning assets [267]. Merger Impact - Old National completed its merger with First Midwest, acquiring $21.9 billion in assets and assuming $17.2 billion in deposits [202]. - Average non-interest-bearing deposits increased by $5.6 billion in 2022 compared to 2021, largely due to the First Midwest merger [243]. - Total deposits rose to $35.0 billion at December 31, 2022, an increase of $16.4 billion or 88% compared to $18.6 billion in 2021 [279]. - Goodwill and other intangible assets totaled $2.1 billion at December 31, 2022, an increase of $1.1 billion due to the First Midwest merger [276]. - Total under-performing assets increased to $267.0 million at December 31, 2022, compared to $127.1 million at December 31, 2021, largely due to the First Midwest merger [303]. Credit Quality and Losses - The provision for credit losses was $144,799 in 2022, compared to a reversal of $(29,622) in 2021, reflecting a significant shift in credit quality assessment [215]. - The allowance for credit losses on loans increased to $303.7 million at December 31, 2022, compared to $107.3 million in 2021, reflecting adjustments from the First Midwest merger [273]. - Net charge-offs for the year 2022 totaled $16.1 million, compared to a recovery of $4.8 million in 2021 [316]. - The allowance for credit losses on loans as a percentage of year-end loans was 1.08% at December 31, 2022, compared to 0.87% in 2021 [315]. - The company may experience volatility in provision expense due to changes in credit quality and macroeconomic conditions [317]. Operational Efficiency - The efficiency ratio improved to 49.12% in Q4 2022, down from 55.26% in Q3 2022 [212]. - The efficiency ratio improved to 57.97% in 2022 from 59.75% in 2021, showing enhanced operational efficiency [215]. - Total noninterest expense rose to $1,038.2 million in 2022, a 107.1% increase from $501.4 million in 2021, reflecting additional operating costs from the First Midwest merger and $120.9 million in merger-related expenses [248]. Tax and Regulatory Compliance - The effective tax rate increased to 21.4% in 2022 from 18.1% in 2021, attributed to higher pre-tax book income and increased state effective tax rates post-merger [251]. - The company is subject to various legal actions and proceedings incidental to its business operations [341]. - Compliance with applicable regulatory requirements is embedded within the company's culture and mission [336]. Shareholder and Equity Information - Cash dividends remained stable at $0.56 per share for both 2022 and 2021, with the common dividend payout ratio increasing to 37% from 33% [215]. - Shareholders' equity increased to $5.1 billion, representing 11% of total assets, up from $3.0 billion or 12% of total assets in 2021 [282]. - The company repurchased 3.5 million shares of Common Stock in 2022, reducing equity by $63.8 million [283].

Old National Bancorp (NASDAQ:ONB) Q4 2022 Earnings Conference Call January 24, 2022 10:00 AM ET Company Participants Jim Ryan - CEO Brendon Falconer - CFO Mark Sander - President and COO Conference Call Participants Ben Gerlinger - Hovde Group Scott Siefers - Piper Sandler Terry McEvoy - Stephens Chris McGratty - KBW David Long - Raymond James Jon Arfstrom - RBC Operator Welcome to the Old National Bancorp's Fourth Quarter 2022 Earnings Conference Call. This call is being recorded and has been made accessib ...

| --- | --- | --- | --- | |-------|-------|------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | 4th Quarter 2022 | | Forward-Looking Statements These materials contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, descriptions of Old National's financial condition, results of operations, asset and credit quality trends, profitability and business plans or opportunities. F ...