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Financial Performance & Strategic Transformation - First Foundation reported a net loss in Q2 2025, largely due to $12.1 million pre-tax impacts from loan sales[13] - Adjusting for loan transactions, the company's "core" EPS was $0.01[13] - Core PPNR was $3.6 million in Q2 2025, compared to $9.7 million in Q1 2025[13] - The company successfully sold $858 million of CRE loans during Q2 2025[8, 12] Asset Quality & Capital Management - Net charge-offs were less than 1 bps (0.00%) in Q2 2025, indicating strong credit performance[13] - Total nonperforming assets decreased by 9.1% compared to Q1 2025, reaching $40.8 million, or 0.35% of total assets[22] - CET1 ratio improved to 11.08% in Q2 2025, compared to 10.63% in Q1 2025 and 9.68% in Q3 2024[13] Deposit & Funding Strategy - Higher-cost MSR deposits were reduced by $0.5 billion, a 50% decrease, and wholesale deposits decreased by $0.2 billion, a 9% decrease[13] - The company exited $540 million of higher-cost MSR deposits (~4.60%) following loan transactions[32] - 60% of the $1.4 billion brokered CD portfolio is scheduled to mature over the next 18 months, with a weighted average interest rate of ~4.9%[32]

Financial Performance Highlights - Private Wealth Management assets under management and administration reached a record of $3.731 billion[5] - Private Wealth Management fee income totaled $3.7 million for Q2 2025, an increase of 8.3% compared to Q2 2024[5] - The company experienced consistent loan growth, with an annualized increase of 8.4% from the linked quarter and 8.9% from Q2 2024[5] - Core deposits grew at an annualized rate of 11.4% from the linked quarter and 9.7% from Q2 2024[5] - The net interest margin (NIM) was strong at 3.67%, compared to 3.69% for the linked quarter and 3.65% for the prior-year quarter[5] - Tangible book value per share (TBVPS) increased at an annualized rate of 10.2% from the linked quarter and 13.6% from Q2 2024[5] - Operating revenue increased by 8.1% from Q2 2024, and year-to-date operating revenue increased by 10.3% over the first six months of 2024[5] - Pre-tax, pre-provision earnings grew by 18% year-to-date, and net income grew by 17% for the first six months of 2025 compared to the prior-year period[7] Balance Sheet and Liquidity - As of June 30, 2025, readily accessible liquidity was $1.313 billion, with total liquidity reaching $2.004 billion[35] - 70% of deposits are insured or collateralized, with FDIC insured deposits at $3.305 billion[36]

Financial Performance Highlights - Private Wealth Management (PWM) assets under management and administration reached a record of $3.425 billion[5] - PWM fee income totaled $3.5 million for Q1 2025, a 12.2% increase compared to Q1 2024[5] - Loans experienced consistent growth, with a 9.2% annualized increase from the linked quarter and a 9.4% increase from Q1 2024[5] - Core deposits grew by 11.1% annualized from the linked quarter and 7.2% from Q1 2024[5] - The company reported a strong net interest margin (NIM) of 3.69%[5] - Operating revenue increased by 13% year-over-year, driven by strong loan growth, NIM, and a 12% increase in fee income[5] - Tangible book value grew by 9% compared to the linked quarter and 14% compared to the prior year quarter[7] Asset Quality and Liquidity - Non-Performing Assets (NPAs) decreased by 15.2% from the linked quarter[5] - The ratio of NPAs to total assets decreased from 0.91% in Q4 2024 to 0.76%[5] - Approximately 68% of deposits are insured or collateralized[33]

Core Insights - Old National Bancorp has rebranded its wealth advisory division from Old National Investments to Old National Wealth Advisors (ONWA) to better represent the comprehensive services offered by its financial professionals [1][2] Company Overview - Old National Bancorp is the holding company for Old National Bank, ranking as the sixth largest commercial bank headquartered in the Midwest with approximately $54 billion in assets and $30 billion in assets under management [4] - The company serves clients primarily in the Midwest and Southeast and has a history dating back to 1834, focusing on long-term partnerships and community support [4] Wealth Advisory Services - ONWA has around 125 team members, including over 70 wealth advisors, primarily located in the Midwest and Southeast [2] - The services offered by ONWA include investment strategies, estate planning, financial and retirement planning, college saving options, insurance guidance, and tax planning [6][7] - ONWA operates under three service models tailored to client needs: 1. Investment Strategies Team for clients focused on investing and planning [7] 2. Private Wealth Management for clients planning for retirement and major life events, providing dedicated resources [7] 3. 1834 division for high-net-worth clients with complex financial needs, offering institutional services [7] Strategic Partnerships - ONWA is backed by LPL Financial, a leading independent broker/dealer and registered investment advisor, enhancing its service offerings [2][8]