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 September 30, 2025 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 o ...

Exhibit 99.1 Old National Bancorp Reports Third Quarter 2025 Results Evansville, Ind. (October 22, 2025) Old National Bancorp (NASDAQ: ONB) reports 3Q25 net income applicable to common shares of $178.5 million, diluted EPS of $0.46; $231.3 million and $0.59 on an adjusted basis, respectively. 1 CEO COMMENTARY: "Old National's outstanding quarterly results reflect our continued focus on the fundamentals and the benefits from our recent partnership with Bremer Bank," said Chairman and CEO Jim Ryan. "Furthermo ...

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, 2025 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 ...

Exhibit 99.1 Old National Bancorp Reports Second Quarter 2025 Results and Names New President and COO Evansville, Ind. (July 22, 2025) Old National Bancorp (NASDAQ: ONB) reports 2Q25 net income applicable to common shares of $121.4 million, diluted EPS of $0.34; $190.9 million and $0.53 on an adjusted basis, respectively. 1 CEO COMMENTARY: Notable Items • Closing of Bremer partnership on May 1, 2025 • $75.6 million of pre-tax CECL Day 1 non-PCD provision expense • $41.2 million of pre-tax merger-related cha ...

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]. - 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 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, representing a 21.0% increase[200]. - The effective tax rate decreased to 20.3% for the three months ended March 31, 2025, compared to 21.3% for the same period in 2024, reflecting an increase in tax credits[204]. 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 when excluding $71 million of commercial real estate loans sold in the quarter[176]. - Total deposits increased by $211.0 million to $41.03 billion, reflecting organic growth, while wholesale funding constituted 12% of total funding[225]. Credit Quality and Losses - 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]. - Non-performing loans to ending loans ratio increased to 1.29% in Q1 2025 from 1.23% in Q4 2024[163]. - The company reported a net charge-off rate of 0.24% for the three months ended March 31, 2025, compared to 0.14% in the same period of 2024, indicating an increase of 68.5%[199]. - 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]. - 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]. 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 on December 31, 2024[227]. - Old National's Tier 1 capital to total average assets ratio was 9.44% as of March 31, 2025, exceeding the regulatory minimum of 4%[229]. - The total capital to risk-weighted total assets ratio stood at 13.68% as of March 31, 2025, well above the regulatory minimum of 10.50%[229]. Mergers and Acquisitions - The acquisition of CapStar was completed on April 1, 2024, enhancing the company's presence in Nashville and other high-growth Southeastern markets[181]. - A definitive merger agreement with Bremer Financial Corporation has been approved, with the transaction expected to close on May 1, 2025[181]. Risk Management - The company maintains a risk appetite statement to assess and mitigate various risks, including credit, market, and operational risks[232]. - Stress testing is performed periodically to ensure sufficient capital and alignment with the company's risk appetite, influencing decisions on pricing and capital deployment[231]. - The company utilizes a model to quantify the impact of changing interest rates on projected net interest income, assessing various interest rate scenarios[250]. Interest Income and Expense - Net interest margin on a fully taxable equivalent basis remained stable at 3.27% for the three months ended March 31, 2025, compared to the same period in 2024[194]. - Total interest income is projected to reach $6,654,179 thousand by March 31, 2025, up from $3,692,135 thousand in the previous year, indicating a growth of approximately 80.5%[252]. - Total interest expense is expected to increase to $3,357,153 thousand by March 31, 2025, compared to $737,428 thousand in the previous year, representing a growth of about 355.5%[252]. Asset Management - Total assets increased to $53,877,944,000 as of March 31, 2025, from $53,552,272,000 at the end of 2024[163]. - The investment securities portfolio increased to $11.2 billion at March 31, 2025, from $10.9 billion at December 31, 2024, representing 23% of earning assets[209]. - Earning assets rose by $337.3 million to $48.4 billion as of March 31, 2025, compared to $48.0 billion at December 31, 2024[207]. Liquidity Management - Liquidity management strategies include maintaining strategic and contingency liquidity plans to ensure sufficient funding for balance sheet growth and unexpected liquidity requirements[257]. - Management believes the company can generate adequate liquidity to meet short-term and long-term requirements[262].

Financial Performance - Old National Bancorp reported Q1 2025 net income applicable to common shares of $140.6 million, with diluted EPS of $0.44; adjusted net income was $145.5 million, or $0.45 per diluted share [1][2][3]. - Net income available to common shareholders for Q1 2025 was $140,625,000, down from $149,839,000 in Q4 2024 [28]. - Net income for Q1 2025 was $144,659 thousand, compared to $153,873 thousand in Q4 2024, representing a decline of 6.9% [31]. - Total revenue for Q1 2025 was $486,797,000, a slight decrease from $495,723,000 in Q4 2024, but an increase from $440,233,000 in Q1 2024 [42]. - Adjusted net income applicable to common shares was $145,454 thousand, with an adjusted EPS of $0.45 for the quarter [40]. - The company reported a return on average equity (ROAE) of 9.1% for Q1 2025, down from 9.8% in Q4 2024 [43]. Deposits and Loans - Total deposits at the end of the period were $41.0 billion, reflecting a 2.1% annualized increase; core deposits rose by 1.7% annualized [2][8]. - Total loans at the end of the period were $36.5 billion, up 1.5% annualized; total commercial loan production for the quarter was $1.5 billion [2][8]. - Total loans increased to $36,413,944 thousand in Q1 2025, up from $36,285,887 thousand in Q4 2024, marking a growth of 0.4% [32]. - Total deposits rose to $41,034,572 thousand in Q1 2025, compared to $40,823,560 thousand in Q4 2024, indicating an increase of 0.5% [32]. Interest Income and Margin - Net interest income on a fully taxable equivalent basis was $393.0 million, down from $400.0 million, with a net interest margin of 3.27%, a decrease of 3 basis points [2][8]. - Net interest income for Q1 2025 was $387,643,000, a slight decrease from $394,180,000 in Q4 2024 [28]. - The net interest margin (GAAP) was reported at 3.23% for the three months ended March 31, 2025 [36]. - Net interest income after provision for credit losses for Q1 2025 was $356,240 thousand, a decrease of 3.4% from $367,163 thousand in Q4 2024 [31]. Credit Losses and Allowance - Provision for credit losses was $31.4 million, with net charge-offs of $21.6 million, or 24 basis points of average loans [2][8]. - Provision for credit losses increased to $31,403,000 in Q1 2025 from $27,017,000 in Q4 2024 [28]. - The allowance for credit losses on loans was $401,932 thousand as of March 31, 2025, up from $392,522 thousand in Q4 2024 [32]. - The allowance for credit losses on loans increased to $398,765 compared to $382,799 in the previous quarter [36]. Efficiency and Ratios - The efficiency ratio was 53.7%, while the adjusted efficiency ratio was 51.8%, compared to 54.4% and 51.8% respectively in the previous quarter [2][15]. - The efficiency ratio for Q1 2025 improved to 53.7%, compared to 54.4% in Q4 2024 [28]. - Preliminary regulatory Tier 1 common equity to risk-weighted assets was 11.62%, an increase of 24 basis points [2][15]. - The Tier 1 common equity ratio improved to 11.62% in Q1 2025 from 11.38% in Q4 2024 [28]. Shareholder Information - The company maintained a cash dividend of $0.14 per share for Q1 2025, consistent with previous quarters [28]. - Total shareholders' equity increased to $6,534,654 thousand as of March 31, 2025, from $6,340,350 thousand at the end of Q4 2024 [32]. - Average shareholders' equity for Q1 2025 was $6,416,485,000, up from $6,338,953,000 in Q4 2024 [43]. - Common shares outstanding as of March 31, 2025, were 319,236, an increase from 318,980 as of December 31, 2024 [44]. Future Outlook - The company anticipates closing its partnership with Bremer Bank on May 1, 2025, which is expected to enhance its market position [1].

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 [226][227]. - Net income applicable to common shares for 2024 was $523,053,000, a decrease from $565,857,000 in 2023 [244]. - Adjusted net income applicable to common shares for 2024 was $578,054,000 compared to $599,227,000 in 2023 [244]. - Diluted net income per share decreased to $1.68 in 2024 from $1.94 in 2023, representing a decline of 29% [234]. - Return on average assets for the fourth quarter of 2024 was 1.14%, while return on average common equity was 9.83% [232]. - Return on average tangible common equity for 2024 was 15.37%, down from 20.15% in 2023 [244]. - Total revenue for 2024 was $1,910,206,000, an increase from $1,866,188,000 in 2023 [244]. Asset and Deposit Growth - Total assets as of December 31, 2024, were $53.55 billion, with total loans at $36.29 billion and total deposits at $40.82 billion [232]. - Total assets rose to $53,552,272 in 2024, up from $49,089,836 in 2023, marking an increase of about 9% [234]. - Total deposits increased to $40,823,560 in 2024, compared to $37,235,180 in 2023, showing a growth of approximately 7% [234]. - 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 [300]. - Core deposits grew by approximately 10% in 2024, funding a corresponding 10% growth in loans [230]. Loan Growth and Quality - Total loans increased to $36,285,887 in 2024 from $32,991,927 in 2023, indicating a growth of approximately 10% [234]. - Average loans for the year increased to $35.5 billion in 2024 from $32.2 billion in 2023, reflecting growth in the loan portfolio [331]. - The allowance for credit losses on loans increased to $392.5 million from $307.6 million, reflecting organic loan growth and the CapStar acquisition [295]. - Non-performing loans to ending loans ratio increased to 1.23% in 2024 from 0.83% in 2023, highlighting potential credit quality concerns [234]. - Total provision for credit losses increased by $51.7 million in 2024, reaching $110.6 million, primarily due to loan growth and credit migration [262]. Income and Expense Analysis - Net interest income increased by 2% to $1.5 billion during 2024, driven by strong loan growth and the interest rate environment [228]. - Noninterest income rose from $333.3 million in 2023 to $354.7 million in 2024, primarily due to the CapStar merger and higher fees [228]. - 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 [228]. - The efficiency ratio improved to 55.85% in 2024 from 53.70% in 2023, indicating enhanced operational efficiency [234]. - Total interest expense is projected to rise to $2.9 billion in 2024, up from $2.0 billion in 2023, marking a 44.1% increase [342]. Capital and Risk Management - The Tier 1 capital ratio improved to 11.98% in 2024 from 11.35% in 2023, reflecting stronger capital adequacy [234]. - The allowance for credit losses on loans to average loans ratio was 1.11 in 2024, up from 0.95 in 2023, indicating a higher provision relative to the loan portfolio [331]. - The company maintains strategic and contingency liquidity plans to ensure sufficient funding for balance sheet growth and unexpected liquidity requirements [347]. - The allowance for credit losses on loans was $392.5 million at December 31, 2024, compared to $307.6 million at December 31, 2023, primarily driven by the CapStar acquisition and organic loan growth [333]. Mergers and Acquisitions - Old National completed the acquisition of CapStar on April 1, 2024, enhancing its presence in Nashville and other high-growth Southeastern markets [229]. - The partnership with Bremer Bank was announced in 2024, expected to close in mid-2025, expanding opportunities in the upper Midwest [230]. - Goodwill and other intangible assets totaled $2.3 billion, an increase of $195.1 million due to the CapStar acquisition [298]. Interest Rate and Economic Factors - The Federal Reserve's Effective Federal Funds Rate decreased to 4.33% at December 31, 2024, down from 5.33% at December 31, 2023, impacting interest income dynamics [248]. - 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 to 2.98% [258]. - The company anticipates that future loan growth and changes in credit quality could lead to increased provision expenses due to the volatility of macroeconomic factors [333].

Financial Performance - 4Q24 net income applicable to common shares was $149.8 million, with diluted EPS of $0.47; adjusted net income was $156.0 million, or $0.49 per diluted share[1][2][3] - Full-year net income applicable to common shares reached $523.1 million, with diluted EPS of $1.68; adjusted net income was $578.1 million, or $1.86 per diluted share[1] - Net income available to common shareholders for Q4 2024 was $149,839,000, compared to $116,250,000 in Q4 2023, marking a year-over-year increase of 28.9%[32] - The diluted EPS for Q4 2024 was $0.47, up from $0.40 in Q4 2023, representing a growth of 17.5%[32] - The company reported a net income of $523,053 for the twelve months ended December 31, 2024, compared to $565,857 for the previous year, reflecting a decline of 7.6%[44] - Adjusted net income applicable to common shares for the period was $155.989 million, compared to $147.216 million in the previous period, reflecting an increase of 5.5%[45] - Net income applicable to common shares for the three months ended June 30, 2024, was $139,768, compared to $117,196 for the previous quarter, representing an increase of 19.8%[44] Deposits and Loans - Total deposits at period-end were $40.8 billion, consistent with September 30, 2024; core deposits increased by 1.9% annualized[2][9] - Total loans at period-end were $36.3 billion, down 1.6% annualized; total commercial loan production for the quarter was $1.5 billion[2][9] - Total loans at the end of Q4 2024 were $36,285,887,000, slightly down from $36,400,643,000 at the end of Q3 2024[32] - Total loans reached $36,285,887 thousand, up from $32,991,927 thousand year-over-year, representing an increase of about 10.00%[36] - Total deposits at the end of Q4 2024 were $40,823,560,000, an increase from $37,699,418,000 in Q4 2023, reflecting a growth of 5.6%[32] - Demand deposits decreased to $9,424,577 from $10,633,806, indicating a shift in customer deposit behavior[41] Interest Income and Margin - Net interest income on a fully taxable equivalent basis was $400.0 million, with a net interest margin of 3.30%, down 2 basis points[2][9] - Net interest income for Q4 2024 was $394,180,000, an increase from $356,458,000 in Q4 2023, representing a year-over-year growth of 10.6%[32] - The net interest margin (GAAP) decreased to 3.26% from 3.49% year-over-year, while the net interest rate spread narrowed to 2.61% from 2.93%[41] - Total interest-bearing deposits increased to $31.64 billion, with an average yield of 2.71%[39] - The net interest rate spread improved to 2.64% from 2.62% in the prior quarter[39] Credit Losses and Provisions - Provision for credit losses was $27.0 million, with net charge-offs of $18.7 million, or 21 basis points of average loans[2][9] - Provision for credit losses in Q4 2024 was $27,017,000, compared to $11,595,000 in Q4 2023, indicating a significant increase in expected credit losses[32] - The allowance for credit losses on loans increased to $392,522 thousand, compared to $307,610 thousand in the previous year, indicating a rise of about 27.67%[36] - The allowance for credit losses (ACL) on loans to end-of-period (EOP) loans was 1.08% as of December 31, 2024, compared to 1.05% in the previous quarter[42] Noninterest Income and Expenses - Noninterest income for Q4 2024 reached $95,766,000, up from $77,522,000 in Q4 2023, reflecting a growth of 23.5% year-over-year[32] - Noninterest expense was $276.8 million, including $8.1 million of merger-related charges; adjusted noninterest expense was $268.7 million[2][15] - Noninterest expense for the three months ended December 31, 2024, was $276,824,000, compared to $272,283,000 in the previous quarter, showing an increase of 1.94%[46] - Adjusted total noninterest expense for the twelve months ended December 31, 2024, was $1,038,140,000, compared to $969,205,000 in the previous year, representing a 7.1% increase[46] Efficiency and Ratios - Efficiency ratio was 54.4%; adjusted efficiency ratio was 51.8%[2][15] - The efficiency ratio for Q4 2024 was 54.4%, improving from 58.3% in Q4 2023, indicating better cost management[32] - The adjusted efficiency ratio for the three months ended December 31, 2024, was 51.8%, compared to 51.2% in the previous quarter, indicating improved cost management[47] - Return on average tangible common equity (ROATCE) was 16.4%; adjusted ROATCE was 17.0%[2] Assets and Equity - Total assets as of Q4 2024 were $53,552,272,000, compared to $49,534,918,000 at the end of Q4 2023, showing a growth of 8.1%[32] - Total shareholders' equity increased to $6,340,350 thousand, compared to $5,562,900 thousand a year ago, marking a growth of approximately 13.93%[36] - Shareholders' equity rose to $6.34 billion, compared to $6.19 billion in the previous quarter[39] - Average shareholders' common equity increased to $6,095,234,000 as of December 31, 2024, compared to $5,946,352,000 in the previous quarter, indicating a growth of 2.5%[48] Regulatory Capital - Preliminary regulatory Tier 1 common equity to risk-weighted assets was 11.38%, up 38 basis points[2][15] - Tier 1 common equity ratio at the end of the period was 11.38%, up from 10.70% in the previous year[33] - Total capital ratio at the end of the period was 13.37%, compared to 12.64% in the previous year[33]

Financial Performance - Net income applicable to common shares for Q3 2024 was $139.8 million, with an adjusted net income of $147.2 million, resulting in diluted EPS of $0.44 and adjusted EPS of $0.46[1][2][3] - Net income available to common shareholders increased to $139,768,000 in Q3 2024 from $117,196,000 in Q2 2024, representing a 19.3% growth[28] - The company reported a net income of $373,214,000 for the nine months ended September 30, 2024, compared to $437,411,000 for the same period in 2023, reflecting a decrease of 14.7%[44] - The company reported a diluted EPS of $0.44 for Q3 2024, compared to $0.37 in Q2 2024, reflecting a growth of 18.9%[31] - Adjusted net income applicable to common shares for the period was $147,216 million, compared to $144,058 million in the previous period, reflecting a growth of 1.5%[45] Revenue and Income Sources - Noninterest income rose to $94,138,000 in Q3 2024, compared to $87,271,000 in Q2 2024, reflecting stronger fee-based revenue[28] - Total revenue for the three months ended September 30, 2024, was $492,006,000, compared to $482,032,000 for the same period in 2023, representing a 2.02% increase[46] - Noninterest income for the three months ended September 30, 2024, was $94,138,000, up from $87,271,000 in the prior year, reflecting an increase of 9.4%[46] Loans and Deposits - Total loans at the end of the period amounted to $36.5 billion, up 2.7% annualized, with average total loans increasing by $235.9 million[2][9] - Total loans reached $36,400,643 thousand, an increase of 2.1% from $36,150,513 thousand in the previous quarter[32] - Total deposits at the end of the period reached $40.8 billion, reflecting an increase of $0.8 billion, with core deposits rising by $1.0 billion, representing annualized growth rates of 8.5% and 10.1% respectively[2][9] - Total deposits rose to $40,845,746 thousand, reflecting a 2.1% increase from $39,999,228 thousand in the prior quarter[32] Credit Quality and Losses - Provision for credit losses was $28.5 million, with net charge-offs of $17.5 million, equating to 19 basis points of average loans[2][9] - Provision for credit losses decreased to $28,497,000 in Q3 2024 from $36,214,000 in Q2 2024, indicating improved credit quality[28] - The allowance for credit losses on loans increased to $(380,840) thousand, up from $(366,335) thousand in the previous quarter, indicating a rise in provisions for potential loan losses[32] - Nonaccrual loans amounted to $443,597,000 as of September 30, 2024, an increase from $340,181,000 in the previous quarter[42] Efficiency and Ratios - The efficiency ratio was reported at 53.8%, with an adjusted efficiency ratio of 51.2%, compared to 57.2% and 52.6% in the previous quarter[2][16] - The return on average tangible common equity was 16.0%, with an adjusted return of 16.8%[2][16] - The Tier 1 common equity ratio improved to 11.00% in Q3 2024 from 10.73% in Q2 2024[29] - The tangible common equity to tangible assets ratio improved to 7.4%, up from 7.2%[2][16] Market and Strategic Initiatives - The company plans to continue investing in new markets and attracting exceptional talent to enhance its franchise[1] - Notable items included $6.9 million in pre-tax merger-related charges and $2.6 million in pre-tax separation expenses[2][4][16] Assets and Capital - Total assets grew to $53,602,293,000 in Q3 2024 from $53,119,645,000 in Q2 2024, indicating a healthy balance sheet expansion[28] - Total shareholders' equity increased to $6,367,298 thousand, up from $5,239,537 thousand a year earlier, representing a growth of 21.5%[32] - The company maintained a strong capital position with shareholders' equity of $6,190,071 million, up from $5,294,072 million a year ago[36] Cost Management - The efficiency ratio improved to 53.8% in Q3 2024 from 57.2% in Q2 2024, reflecting better cost management[28] - Total noninterest expense for Q3 2024 was $272,283, a decrease from $282,999 in Q2 2024, indicating a reduction of 3.0%[31] - Noninterest expense for the three months ended September 30, 2024, was $272,283,000, a decrease from $282,999,000 in the same quarter of 2023, representing a reduction of 2.5%[46]

Financial Performance - Net interest income for Q2 2024 was $388,421,000, an increase from $382,171,000 in Q2 2023, reflecting a growth of 1.3% year-over-year[168]. - Noninterest income for Q2 2024 was $87,271,000, compared to $81,629,000 in Q2 2023, representing a growth of 6.5%[168]. - Net income available to common shareholders for Q2 2024 was $117,196,000, a slight decrease from $151,003,000 in Q2 2023, down by 22.4%[168]. - Net interest income for the six months ended June 30, 2024, was $744,879, a decrease of 2.9% from $763,659 in 2023[170]. - Net income available to common shareholders decreased to $233,446, down 20.5% from $293,569 in 2023[170]. - Adjusted net income per common share, diluted, was $0.46 for June 30, 2024, compared to $0.51 in the previous quarter, reflecting a decrease of 9.8%[177]. - Net income applicable to common shares for Q2 2024 was $117.2 million, or $0.37 per diluted share, compared to $116.3 million, or $0.40 per diluted share in Q1 2024[182]. Asset and Loan Growth - Total loans reached $36,150,513,000 as of June 30, 2024, up from $32,432,473,000 a year earlier, marking an increase of 11.1%[168]. - Total assets increased to $53,119,645,000 in Q2 2024 from $48,496,755,000 in Q2 2023, reflecting a growth of 9.3%[168]. - Total deposits rose to $39,999,228,000 in Q2 2024, compared to $36,231,315,000 in Q2 2023, an increase of 10.5%[168]. - Total loans increased to $36,150,513, a growth of 11.0% from $32,432,473 in 2023[170]. - Total assets grew to $53,119,645, up 9.3% from $48,496,755 in the previous year[170]. - Total loans reached $36,079,180 thousand for the three months ended June 30, 2024, compared to $32,255,865 thousand in the same period of 2023, marking a growth of 11.3%[199]. - The loan portfolio totaled $36.151 billion as of June 30, 2024, reflecting a $3.159 billion increase from $32.992 billion at December 31, 2023, a 9.6% growth[226]. Credit Losses and Risk - Provision for credit losses increased to $36,214,000 in Q2 2024 from $14,787,000 in Q2 2023, indicating a significant rise in expected credit losses[168]. - Provision for credit losses increased significantly to $55,105, compared to $28,224 in the same period last year, reflecting a rise of 95.3%[170]. - The allowance for credit losses on loans increased to $366.3 million at June 30, 2024, an increase from $307.6 million at December 31, 2023, reflecting $23.9 million for acquired PCD loans from the CapStar acquisition[256]. - Total provision for credit losses increased by 144.9% to $36,214 thousand for the three months ended June 30, 2024, compared to $14,787 thousand for the same period in 2023[211]. - Total nonaccrual loans increased to $340.2 million, up from $274.8 million at December 31, 2023, indicating a rise in credit risk[248]. - Under-performing assets rose to $353.7 million, representing 0.98% of total loans, a 12 basis point increase from 0.86% at December 31, 2023[249]. Operational Efficiency - The common dividend payout ratio increased to 38% in Q2 2024 from 27% in Q2 2023, indicating a higher return of earnings to shareholders[168]. - The efficiency ratio improved to 57.17% for the quarter, down from 51.66% in the previous quarter, suggesting enhanced operational efficiency[177]. - The efficiency ratio for Q2 2024 was 57.73%, compared to 52.01% in Q2 2023, indicating increased operational costs[192]. - Noninterest expense for the three months ended June 30, 2024, was $282.999 million, a 14.8% increase from $246.584 million in the same period of 2023[215]. - Excluding merger-related expenses, noninterest expense increased to $263.6 million for the three months ended June 30, 2024, compared to $240.6 million for the same period in 2023[216]. Market Expansion - The company reported a total of 280 banking centers as of June 30, 2024, an increase from 256 centers a year earlier, reflecting ongoing expansion efforts[168]. - The company operates 280 banking centers, an increase from 256 in 2023, reflecting ongoing market expansion efforts[170]. - The acquisition of CapStar on April 1, 2024, added approximately $3.1 billion in total assets and strengthened Old National's presence in Nashville, Tennessee[191]. Capital and Liquidity - Shareholders' equity increased to $6.1 billion at June 30, 2024, up from $5.6 billion at December 31, 2023, partly due to the issuance of 24 million shares related to the CapStar acquisition[239]. - Old National's capital ratios remain strong, with Tier 1 capital to total average assets at 8.90% as of June 30, 2024, compared to 8.83% at December 31, 2023[241]. - The company maintains available liquid funds of $436,277 thousand at the parent company level and $13,251,213 thousand at the subsidiary level as of June 30, 2024[274]. - Management believes the company can generate adequate liquidity to meet both short-term and long-term requirements[274]. Interest Rate Management - The company established guidelines for asset and liability management to measure short and long-term sensitivities to interest rate changes, which are reviewed by the Enterprise Risk Committee[262]. - The model used to quantify interest rate risk shows projected net interest income sensitivity based on interest rate changes over a two-year cumulative horizon[262]. - The company may use various techniques to manage interest rate risk, including adjusting balance sheet mix and modifying investment securities characteristics[263].