Old National Bancorp

Latest Results (17.11.2025):

Old National Bancorp's 4Q24 report for the fourth quarter of 2024 highlights strong performance with net income applicable to common shares of $149.8 million and diluted EPS of $0.47, or adjusted figures of $156.0 million and $0.49 per share. The report underscores disciplined expense management, steady growth in deposits and loans, and solid net interest income—all of which contributed to a robust quarter amidst a competitive market environment.

Earnings Performance

The company reported 4Q24 net income of $149.8 million, with adjusted net income of $156.0 million. This strong performance was driven by the bank’s strategic focus on expanding its deposit franchise and controlled credit and expense management, as noted by CEO Jim Ryan.

Net Interest Overview

Old National Bancorp recorded net interest income on a fully taxable equivalent basis of $400.0 million with a net interest margin of 3.30%, reflecting a slight dip of 2 basis points. This performance was influenced by higher accretion income and lower funding costs.

Deposits and Loan Activity

The quarter ended with total deposits of $40.8 billion and a modest annualized increase in core deposits of 1.9%. Meanwhile, total loans were $36.3 billion, reflecting a slight decline on an annualized basis, even as commercial loan production remained strong despite a notable payoff activity.

Efficiency and Capital Strength

Operating performance was solid with a pre-provision net revenue (PPNR) of $218.9 million and an adjusted figure of $227.1 million. The efficiency ratios were 54.4% (reported) and 51.8% (adjusted), while the return on average tangible common equity (ROATCE) stood at 16.4% (17.0% adjusted). Additionally, preliminary regulatory capital measures indicated robust capital strength, with Tier 1 common equity to risk-weighted assets rising to 11.38%.