Business
Old National Bancorp Reports Second Quarter 2025 Results and Names New President and COO
EVANSVILLE, Ind., July 22, 2025 (GLOBE NEWSWIRE) -- Old National Bancorp (NASDAQ: ONB) reports 2Q25 net income applicable to common shares of $121.4 million,
About this update from Old National Bancorp
[{"type":"text","content":"EVANSVILLE, Ind., July 22, 2025 (GLOBE NEWSWIRE) -- 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 adjusted1 basis, respectively. CEO COMMENTARY: \"Old National’s impressive second quarter results were achieved through a strong focus on the fundamentals: Growing our balance sheet, expanding our fee-based businesses, and controlling expenses,\" said Chairman and CEO Jim Ryan. \"Additionally, with the successful closing of our partnership with Bremer on May 1, 2025, Old National is well-positioned for the remainder of the year, benefiting from a larger balance sheet and a stronger capital position.\"\"We are thrilled to welcome Tim Burke as Old National's President and Chief Operating Officer,\" said Chairman and CEO Jim Ryan. \"Tim brings nearly 30 years of extensive banking expertise to this critical role. I am confident that his infectious energy, strong strategic vision, and collaborative leadership approach will ensure that Old National continues to exceed client expectations for years to come, while also working to strengthen the communities we serve.\" SECOND QUARTER HIGHLIGHTS2: Net Income Net income applicable to common shares of $121.4 million; adjusted net income applicable to common shares1 of $190.9 million Earnings per diluted common share (\"EPS\") of $0.34; adjusted EPS1 of $0.53 Net Interest Income/NIM Net interest income on a fully taxable equivalent basis1 of $521.9 million Net interest margin on a fully taxable equivalent basis1 (\"NIM\") of 3.53%, up 26 basis points (\"bps\") Operating Performance Pre-provision net revenue1 (\"PPNR\") of $269.6 million; adjusted PPNR1 of $289.9 million Noninterest expense of $384.8 million; adjusted noninterest expense1 of $343.6 million Efficiency ratio1 of 55.8%; adjusted efficiency ratio1 of 50.2% Deposits and Funding Period-end total deposits of $54.4 billion, up $13.3 billion; core deposits up $11.6 billion Period-end core deposits up 0.8% annualized excluding deposits assumed from Bremer Financial Corporation (\"Bremer\") Granular low-cost deposit franchise; total deposit costs of 193 bps, up 2 bps Loans and Credit Quality End-of-period total loans3 of $48.0 billion, up $11.5 billion End-of-period loans3 up 3.7% annualized excluding loans acquired from Bremer P...