Old National Bancorp(US:ONB)2023-01-24 14:36Financial Performance Highlights - Adjusted EPS reached $0.56, while net income was $164 million[10] - Adjusted Return on Average Assets (ROA) stood at 1.46%[10] - Adjusted Return on Average Tangible Common Equity (ROATCE) was 26.5%[11] - The adjusted efficiency ratio was 47.5%[11] - Net Interest Margin (NIM) expanded by 14 bps, driven by loan growth and a higher rate environment[11] Loan and Deposit Growth - Total loan growth was 8% annualized, with commercial loans also up by 8%[11, 13] - Total loans reached $31.091 billion[13] - Deposits totaled $35.001 billion, impacted by the sale of $382 million in Health Savings Accounts (HSAs)[13] Strategic Actions and Credit Quality - The company completed the sale of health savings accounts, resulting in a $91 million pre-tax gain, partially offset by $27 million in pre-tax losses from property optimization[11] - Net charge-offs remained low at 5 bps[11] Full Year 2022 Performance - Adjusted EPS for the full year was $1.96, with net income at $541 million[12] - Adjusted ROA for the year was 1.28%[12] - Total loan growth for the year was 12%, with commercial loans up 13%[12]