Barclays is looking to build a blockchain platform that could handle stablecoin payments and tokenized deposits, Bloomberg reported Friday (Feb. 27), citing unnamed sources.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins re ...

Barclays is looking to build a blockchain platform that could handle stablecoin payments and tokenized deposits, Bloomberg reported Friday (Feb. 27), citing unnamed sources.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins re ...

Financial Performance - Old National's net income applicable to common shareholders for 2025 was $653.1 million, or $1.79 per diluted common share, with adjusted net income of $808.6 million, or $2.21 per diluted common share [230][231]. - Net income available to common shareholders increased to $653,122, reflecting a 24.8% growth compared to $523,053 in 2024 [239]. - The return on average common equity for Q4 2025 was 10.44%, up from 9.01% in Q3 2025 [237]. - Diluted net income per common share increased to $1.79 in 2025 from $1.68 in 2024, a growth of 6.5% [251]. - The effective tax rate was 20.5% in 2025, slightly down from 20.8% in 2024, influenced by tax benefits from tax credit investments [275]. Growth and Acquisitions - The completion of the Bremer acquisition on May 1, 2025, solidified Old National's position as a premier mid-size bank [230][233]. - Total deposits grew by 35% in 2025, with a loan-to-deposit ratio of 89% [230]. - The company plans to focus on disciplined organic growth and continued investment in technology and client-facing capabilities in 2026 [235]. - The company's assets grew to $72.2 billion at December 31, 2025, an increase of $18.6 billion from $53.6 billion at December 31, 2024, mainly due to the Bremer acquisition [276]. Income and Expenses - Net interest income increased by 34% to $2.1 billion, driven by strong loan growth and the Bremer acquisition [232]. - Noninterest income rose from $354.7 million in 2024 to $466.5 million in 2025, primarily due to the Bremer acquisition and higher mortgage banking revenue [232]. - Total noninterest expense reached $1.5 billion in 2025, a 35.7% increase from 2024, including $140.9 million of merger-related expenses [272]. - The total interest expense for 2025 was $1,211,979 thousand, compared to $1,070,868 thousand in 2024 [260]. Asset and Loan Growth - Old National's total loans reached $48.76 billion by December 31, 2025, up from $36.29 billion a year earlier [237]. - Total loans grew significantly to $48,764,162, a 34.4% increase from $36,285,887 in 2024 [239]. - Average loans, including loans held-for-sale, increased by $8.7 billion in 2025, primarily due to the acquisition of Bremer loans totaling $11.1 billion [265]. - The loan portfolio totaled $48.8 billion at December 31, 2025, reflecting a 34.4% increase from $36.3 billion at December 31, 2024 [283]. Capital and Equity - Shareholders' equity reached $8.5 billion, or 12% of total assets, at December 31, 2025, up from $6.3 billion at December 31, 2024, due to equity raised from the Bremer acquisition [305]. - Tangible book value per share grew by 15% in 2025, with a focus on driving further growth in 2026 [230][234]. - The tangible common book value per share rose to $13.71, compared to $11.91 in 2024, reflecting improved capital strength [239]. Credit Quality and Losses - Provision for credit losses increased to $197,721 in 2025, up from $110,619 in 2024, reflecting a rise of 78.5% [251]. - The allowance for credit losses on loans increased to $569.5 million at December 31, 2025, up from $392.5 million at December 31, 2024, reflecting adjustments related to the Bremer acquisition [297]. - Total charge-offs for the year 2025 amounted to $125.0 million, significantly higher than $71.3 million in 2024 [332]. - The net charge-offs to average loans ratio for total loans was 0.25% in 2025, compared to 0.17% in 2024, indicating a deterioration in credit quality [333]. Operational Metrics - The efficiency ratio improved to 55.10%, reflecting disciplined expense management [230]. - The efficiency ratio improved to 55.10%, down from 55.85% in 2024, indicating better cost management [239]. - The number of full-time equivalent employees increased to 4,971, up from 4,066 in 2024, indicating growth in operational capacity [239]. Risk Management - The company maintains frameworks to mitigate operational risks, including cybersecurity threats and internal control weaknesses [358]. - Compliance and regulatory risks are managed through established policies and oversight to ensure adherence to applicable laws and regulations [359]. - Legal risks are addressed through corporate governance practices that comply with legal requirements and market standards [360].

Core Viewpoint - Old National Bancorp (ONB) has announced a significant increase in its share repurchase program, doubling it to $400 million, which will be effective until February 28, 2027, replacing the previous $200 million program set to expire on February 28, 2026 [4] Group 1 - The new share repurchase program is aimed at enhancing shareholder value [4] - The program reflects the company's confidence in its financial position and future growth prospects [4] - The extension of the buyback program indicates a strategic move to utilize excess capital effectively [4]

Dividend Announcement - The Board of Directors increased the quarterly cash dividend on common stock by 3.6% to $0.145 per share, payable on March 16, 2026, to shareholders of record as of March 5, 2026 [1] - A quarterly cash dividend of $17.50 per share was declared on the 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and Series C, payable on May 20, 2026, to shareholders of record as of May 5, 2026 [2] Share Repurchase Program - The Board of Directors approved doubling the share repurchase program, authorizing up to $400 million for repurchasing outstanding shares of common stock, replacing the previous $200 million program set to expire on February 28, 2026 [3] - The new share repurchase program will be in effect until February 28, 2027 [3] Company Overview - Old National Bancorp is the holding company of Old National Bank, the sixth largest commercial bank headquartered in the Midwest, with approximately $72 billion in assets and $37 billion in assets under management [4] - The company focuses on building long-term partnerships with clients and supporting the communities it serves, offering services in consumer and commercial banking, wealth management, and capital markets [4] - In 2025, Old National was recognized as one of "The Civic 50," an honor for the 50 most community-minded companies in the United States [4]

Core Insights - A tokenized deposit network is being developed by five banks and a blockchain platform led by Gene Ludwig, expected to launch in Q4 [1][2] - The network will initially facilitate money movement among the banks' customers, with potential future connections to other networks [3] Group 1: Project Overview - The participating banks include First Horizon, Huntington Bancshares, KeyCorp, M&T Bank, and Old National Bancorp [2] - A pilot program for the tokenized deposit network is scheduled for Q3 [2] Group 2: Objectives and Benefits - The banks aim to offer new products and services, enable always-on settlement, and facilitate fast, frictionless money movement [7] - Ludwig emphasized that innovation in digital assets should enhance the regulated banking system, with tokenized deposits modernizing payments while maintaining insured deposits [8] Group 3: Market Context - Tokenized deposits are expected to surpass stablecoins as the preferred on-chain dollar for institutional and wholesale money [9] - BNY's strategy to tokenize deposits aims to extend trusted bank deposits onto digital platforms, enhancing operational speed across various financial activities [10]

Core Insights - Old National Bancorp has partnered with Axletree Solutions to enhance its SWIFT architecture, improving transaction security and transparency in international banking [1][2][3] Company Overview - Old National Bancorp is the sixth largest commercial bank in the Midwest, with approximately $72 billion in assets and $37 billion in assets under management, ranking among the top 25 banking companies in the U.S. [5] - The bank focuses on building long-term partnerships with clients and has been recognized as one of "The Civic 50," highlighting its community engagement [5] Partnership Details - The implementation of Symmetree by Axletree has led to risk reduction, increased business continuity, and faster execution of transactions [2] - The partnership allows for real-time tracking of international payments and enhances Treasury Management offerings, strengthening Old National's competitive position [4][5] Technological Enhancements - The new architecture meets the ISO 20022 mandate, providing a scalable foundation for future international growth [3] - Features include a unified interface for global messaging workflows, built-in compliance checks, and Swift optimization [2][3] Industry Context - Axletree Solutions is a leading financial technology provider, processing over $100 billion in transactions daily and serving as a central communication pathway for financial operations [6][7] - SWIFT is a global cooperative providing secure financial messaging services, connecting over 11,500 organizations worldwide [8]

4th Quarter 2025 Investment Thesis February 9, 2026 Slides 5 — 18 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"), Section 27A of the Securities Act of 1933 and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934 and Rule 3b-6 promulgated thereunder, notwithstanding that such statements are not specifically identified as such. In ...

Core Insights - Old National Bancorp has appointed Joe Chasteen as Chief Revenue Enablement Officer to focus on organic growth and revenue generation [1][2] Company Overview - Old National Bancorp is the holding company of Old National Bank, the sixth largest commercial bank headquartered in the Midwest, with approximately $72 billion in assets and $37 billion in assets under management [5] - The company serves clients primarily in the Midwest and Southeast and offers extensive services in consumer and commercial banking, wealth management, and capital markets [5] Leadership Appointment - Joe Chasteen brings over 27 years of business banking and enterprise leadership experience, having held senior roles at various large financial institutions [2] - His role will focus on establishing disciplined sales processes, advancing customer relationship management tools, and leading sales enablement efforts [3] - Chasteen's background includes a B.A. in Marketing Management and an M.S. in Finance, and he will report directly to Old National's President & COO Tim Burke [4]

Core Viewpoint - Smaller US banks have increased their borrowings from the Federal Home Loan Bank (FHLB) system in Q4 2025, following guidance from the Federal Reserve to support liquidity management [1] Group 1: Borrowing Trends - Regional lenders demonstrated the highest demand for FHLB advances during this period [1] - Old National Bancorp raised its borrowings by 10.1%, reaching a total of $6.2 billion [1]