Financial Performance - Net income applicable to common shareholders reached $565.9 million, or $1.94 per diluted common share, representing a significant increase compared to the previous year [224]. - Net income available to common shareholders rose to $565,857, up 36.6% from $414,169 in the previous year [232]. - The diluted net income per share increased to $1.94, compared to $1.50 in 2022, reflecting a growth of 29.3% [232]. - The return on average assets was 1.09% for the fourth quarter of 2023, down from 1.74% in the same quarter of the previous year [230]. - Return on average assets increased to 1.21%, compared to 0.99% in 2022, showing enhanced profitability [232]. - The efficiency ratio improved to 53.70%, down from 57.97% in the previous year, indicating better cost management [232]. - Net charge-offs for the year 2023 totaled $55.9 million, significantly higher than $16.1 million in 2022, reflecting increased credit risk [327]. Revenue and Income Sources - Net interest income increased to $1.5 billion in 2023, up from $1.3 billion in 2022, driven by a higher interest rate environment and disciplined loan growth of 6% [223][224]. - Noninterest income decreased from $399.8 million in 2022 to $333.3 million in 2023, primarily due to a prior year gain on the sale of health savings accounts [225]. - Total interest income for 2023 is projected to be $3,757,744 thousand, compared to $3,285,208 thousand in 2022, reflecting an increase due to loan growth and rising interest rates [337]. - The total interest expense for 2023 is projected to be $925,434 thousand, compared to $719,090 thousand in 2022, indicating an increase in costs associated with funding [337]. Asset and Loan Growth - Old National's total assets reached $49.1 billion as of December 31, 2023, compared to $46.8 billion a year earlier [230]. - Total loans increased to $32,991,927, up 6.0% from $31,123,641 in 2022 [232]. - Total loans reached $32,241,367 in 2023, an increase of $4.6 billion compared to 2022, driven by the First Midwest merger and strong organic growth [258]. - Average loans for the year 2023 amounted to $32.2 billion, compared to $27.6 billion in 2022, showing a growth in the loan portfolio [326]. Credit Quality and Provisions - Provision for credit losses decreased significantly to $58,887 from $144,799, indicating improved credit quality [232]. - The allowance for credit losses on loans was $307.6 million at December 31, 2023, slightly up from $303.7 million at December 31, 2022 [293]. - The allowance for credit losses on loans as a percentage of year-end loans was 0.93% in 2023, slightly down from 0.98% in 2022 [326]. - The net charge-offs to average loans outstanding ratio for total loans was 0.17% in 2023, up from 0.06% in 2022, indicating a rise in credit losses relative to the loan portfolio [327]. Deposits and Funding - Total deposits grew by 6% year-over-year, reflecting a strong deposit franchise [224]. - Total deposits increased to $37,235,180, a rise of 6.4% from $35,000,830 in 2022 [232]. - Noninterest-bearing demand deposits decreased by $2.27 billion, or 19%, while interest-bearing deposits increased by $4.5 billion, reflecting a shift due to the rising rate environment [296]. - Total funding increased by $1.98 billion, or 5%, to $42.57 billion at December 31, 2023, compared to $40.59 billion at December 31, 2022 [296]. Mergers and Acquisitions - The company announced a definitive merger agreement to acquire CapStar, which has approximately $3.3 billion in total assets, expected to close in Q2 2024 [226]. - Noninterest expense decreased by $11.9 million in 2023 compared to 2022, despite including $28.7 million of merger-related expenses [225]. Tax and Regulatory Matters - Effective tax rate increased to 22.5% in 2023 from 21.4% in 2022, reflecting higher pre-tax book income and non-deductible FDIC premiums [272]. - The company is subject to complex U.S. income tax laws, which are reviewed quarterly for tax expense and deferred tax assets [371]. Risk Management and Operational Efficiency - The bank's operational risk management includes frameworks to mitigate cybersecurity risks and ensure effective client service [351]. - The Federal Reserve Bank will cease making new loans under its Term Funding Program as scheduled on March 11, 2024, which may affect liquidity strategies [348].

Financial Performance - Net interest income for Q3 2023 was $375.086 million, a decrease of 4.4% from $391.090 million in Q4 2022[172]. - Net income available to common shareholders for Q3 2023 was $143.842 million, down from $196.701 million in Q4 2022, representing a decline of 26.8%[172]. - Net income applicable to common shareholders for Q3 2023 was $143.8 million, or $0.49 per diluted share, compared to $151.0 million, or $0.52 per diluted share in Q2 2023[191]. - Net income available to common shareholders rose to $437,411, up 101.0% from $217,468 in the previous year[176]. - Return on average assets for Q3 2023 was 1.22%, down from 1.74% in Q4 2022, reflecting a decline in profitability[172]. - Return on average assets improved to 1.25% from 0.72%, while return on average common equity increased to 11.66% from 6.26%[176]. Loan and Asset Growth - Total loans increased to $32.578 billion in Q3 2023, up from $31.124 billion in Q4 2022, indicating a growth of 4.7%[172]. - Total loans increased to $32,577,834, a growth of 6.7% compared to $30,528,933 in 2022[176]. - Total assets reached $49.059 billion as of September 30, 2023, compared to $46.763 billion at the end of 2022, marking an increase of 4.9%[172]. - Total assets grew to $48,660,523 thousand, up from $45,915,823 thousand in the previous year[205]. - The loan portfolio increased by $1.454 billion (4.7%) to $32.577 billion at September 30, 2023, compared to $31.123 billion at December 31, 2022[242]. Credit Quality and Loss Provisions - Provision for credit losses increased to $19.068 million in Q3 2023 from $11.408 million in Q4 2022, reflecting a rise in credit risk[172]. - Provision for credit losses decreased significantly to $47,292 from $133,391, reflecting improved credit quality[176]. - Non-performing loans to ending loans ratio was 0.80% in Q3 2023, a slight improvement from 0.81% in Q4 2022, suggesting better asset quality[172]. - Total provision for credit losses was $19.068 million for the three months ended September 30, 2023, an increase of 23.1% compared to $15.490 million in 2022[221]. - The allowance for credit losses on loans was $300,071 thousand, slightly increased from $290,215 thousand in the previous year[205]. Efficiency and Cost Management - The efficiency ratio for Q3 2023 was 51.66%, slightly higher than 49.12% in Q4 2022, indicating a decrease in operational efficiency[172]. - The efficiency ratio improved to 51.89% from 62.17%, indicating better cost management[176]. - Noninterest expense decreased by $1.8 million compared to Q2 2023, including $6.3 million of merger-related expenses in Q3 2023[197]. - Noninterest expense decreased by $17.7 million (6.7%) for the three months ended September 30, 2023, and by $13.4 million (1.8%) for the nine months ended September 30, 2023, compared to the same periods in 2022[228][229]. Dividends and Shareholder Equity - The company maintained a cash dividend of $0.14 per share for Q3 2023, consistent with previous quarters[172]. - Cash dividends remained stable at $0.42 per share, with a dividend payout ratio reduced to 28% from 53%[176]. - Shareholders' equity totaled $5.2 billion, up from $5.1 billion as of December 31, 2022, driven by retained earnings[254]. Deposits and Funding - Total deposits increased by $1.0 billion, or 3%, to $37.3 billion as of September 30, 2023, reflecting efforts to attract new client relationships[193]. - Total deposits rose to $37.25 billion, an increase of $2.25 billion or 6% from $35.00 billion as of December 31, 2022[253]. - Time deposits increased significantly by $2.56 billion, representing an 85% increase compared to December 31, 2022[253]. - The total funding increased to $42.81 billion, reflecting a growth of $2.22 billion or 5% from $40.59 billion as of December 31, 2022[253]. Risk Management and Capital Adequacy - The Tier 1 common equity ratio improved to 10.41% in Q3 2023 from 10.03% in Q4 2022, indicating stronger capital adequacy[172]. - Old National's Tier 1 capital to total average assets ratio was 8.70% as of September 30, 2023, compared to 8.52% at December 31, 2022[257]. - The company maintains a risk appetite statement to assess and mitigate various risks, including credit, market, and liquidity risks[260]. - Old National's stress testing process incorporates various risks to ensure sufficient capital during economic stress, aligning strategic decisions with the company's risk appetite[259]. Interest Income and Rate Management - Net interest income for the nine months ended September 30, 2023, was $1,138,745 thousand, yielding 3.54%, compared to $936,846 thousand at 3.29% in the same period of 2022[207]. - The company’s interest rate management process aims to maximize net interest income while managing interest rate risk within acceptable limits[275]. - Projected net interest income for September 30, 2023, is $3,688,789 thousand, showing a year-over-year increase due to loan growth and rising interest rates[279]. - Total interest income is projected to reach $5,773,747 thousand with a 4.60% increase from the base in an immediate rate increase scenario of +200 basis points[279].

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 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 oth ...

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Old National Bancorp (Exact name of the Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...