Welcome to our dedicated page for Old National Bancorp news (Ticker: ONB), a resource for investors and traders seeking the latest updates and insights on Old National Bancorp stock.
Old National Bancorp (NASDAQ: ONB) is the largest financial services holding company headquartered in Indiana, with approximately $53 billion in assets and $29 billion in assets under management as of Q1 2024. Founded in Evansville in 1834, Old National Bank (ONB) has a rich history in community banking, focusing on building long-term, valued partnerships in regions including Indiana, Illinois, Kentucky, and Michigan. ONB provides a comprehensive suite of services encompassing retail and commercial banking, wealth management, investments, and brokerage. Additionally, ONB owns Old National Insurance, one of the top 100 brokers in the U.S.
Recently, Old National has expanded its footprint through strategic acquisitions, including the recent merger with CapStar Financial Holdings, Inc., enhancing its presence in high-growth markets like Nashville, Tennessee. This acquisition, slated for completion in Q3 2024, brings ONB's total assets to approximately $53 billion. The company continually strives to improve its service offerings and operational efficiency, evident from its partnerships with leading alternative investment platforms like Proteus, enhancing investment options for high-net-worth clients.
ONB's financial health remains strong, with Q1 2024 net income applicable to common shares reported at $116.3 million, or $0.40 per diluted common share. Excluding notable transactions, the adjusted net income stands at $130.8 million, or $0.45 per diluted share. The company boasts stable low-cost deposits, strong credit quality, and disciplined expense management. Its resilience is further underscored by its effective handling of various operational and environmental challenges, including the FDIC special assessment and the integration costs associated with its mergers.
Old National is committed to maintaining robust community banking services, providing tailored financial solutions, and fostering regional economic growth. Investors can access comprehensive financial data and updates via the company’s Investor Relations page.
Old National Bancorp (NASDAQ: ONB) reported strong Q4 2024 results with net income of $149.8 million and diluted EPS of $0.47. Adjusted figures show net income of $156.0 million and EPS of $0.49. Full-year performance included net income of $523.1 million with diluted EPS of $1.68 ($578.1 million and $1.86 adjusted).
Key Q4 highlights include net interest income of $400.0 million, with a net interest margin of 3.30%. Period-end total deposits reached $40.8 billion, while total loans stood at $36.3 billion. Credit quality remained strong with net charge-offs at 21 basis points of average loans.
The company announced the retirement of President and COO Mark Sander, effective June 30, 2025, and appointed Daniel S. Hermann as new Lead Independent Director. Additionally, Old National announced a pending partnership with Bremer Financial
Old National Bancorp (NASDAQ: ONB) has announced its schedule for fourth-quarter and full-year 2024 earnings release and conference call. The earnings will be released on Tuesday, January 21, 2025, at approximately 7:00 A.M. ET, followed by a conference call at 10:00 A.M. ET.
As the sixth largest commercial bank headquartered in the Midwest, Old National serves clients primarily in the Midwest and Southeast regions. The bank manages approximately $54 billion of assets and $31 billion of assets under management, ranking among the top 30 banking companies headquartered in the United States. The company, which traces its roots to 1834, focuses on building long-term partnerships while supporting local communities, offering comprehensive services in consumer and commercial banking, wealth management, and capital markets.
Old National Bancorp (NASDAQ: ONB) has announced the pricing of a public offering of 19,047,619 shares of common stock at $21.00 per share, totaling $400 million. The net proceeds will be approximately $384 million. The company entered into a forward sale agreement with Citigroup's affiliate, with settlement expected within 12 months. The underwriters have an option to purchase additional 2,857,143 shares. Old National plans to use the proceeds for general corporate purposes, including potentially contributing Tier 1 capital to Old National Bank. The offering is expected to close on November 26, 2024.
Old National Bancorp (NASDAQ: ONB) and Bremer Financial announced a definitive merger agreement. Bremer, with $16.2 billion in total assets, will strengthen Old National's presence in the Twin Cities and expand into Minnesota, North Dakota, and Wisconsin markets. The combined organization will have over $70 billion in assets. The transaction, valued at approximately $1,401 million, includes 70 banking centers across three states. Each Bremer share will receive 4.182 ONB shares plus $26.22 in cash. The merger is expected to close in mid-2025, subject to regulatory approvals.
Old National Bank (NASDAQ: ONB) has earned multiple 2025 Military Friendly® designations, including the top Gold Award as a Military Friendly® Employer. The bank was recognized in four categories: Employer, Company, Supplier Diversity Program, and Brand. Over 1,200 companies participated in this year's survey.
The bank's Military Veterans Impact Network (MVIN), comprising approximately 100 team members across the Midwest and Southeast, creates programs for transitioning veterans and provides support through education, resources, and networking opportunities. ONB also offers a mentoring program pairing veterans with Executive Leadership Team members.
Old National, the sixth largest commercial bank headquartered in the Midwest with approximately $54 billion in assets, was recognized for its commitment to creating sustainable benefits for active duty, reserves, guard, veterans, and their spouses.
Old National Bancorp has declared its quarterly dividends. The company will pay a cash dividend of $0.14 per share on common stock, payable December 16, 2024, to shareholders of record as of December 5, 2024. Additionally, a quarterly dividend of $17.50 per share was declared on its Series A and Series C Preferred Stock, payable February 20, 2025, to shareholders of record as of February 5, 2025. Old National, the sixth largest commercial bank in the Midwest, manages approximately $54 billion in assets and $31 billion in assets under management, ranking among the top 30 U.S. banking companies.
Old National Bancorp (NASDAQ: ONB) launches two new digital financial education initiatives: the Real-Life Finance Podcast and Smart Money Half-Minute video series. The podcast, hosted by Financial Empowerment Director Ben Joergens, focuses on everyday financial solutions, while the weekly videos feature young adults sharing financial management advice. The initiatives complement Old National's existing Real-Life Finance eLearning platform, which offers 46 lessons for $4.95 lifetime access, covering topics from Financial Psychology to Home Ownership. Old National Bank, with $54 billion in assets and $31 billion in assets under management, ranks among the top 30 U.S. banking companies.
Old National Bancorp's information security team has been recognized among the Top 50 Information Security Teams worldwide in the 2024 OnCon Icon Awards. The recognition, announced on October 22, was determined through peer and community voting, evaluating teams based on organizational impact, thought leadership, innovation, and leadership demonstration.
Chief Information Security Officer Kevin Novak emphasized the bank's commitment to protecting clients' financial information. Old National (NASDAQ: ONB), the sixth-largest commercial bank headquartered in the Midwest, manages approximately $54 billion in assets and $31 billion in assets under management. The bank ranks among the top 30 banking companies in the United States and serves clients primarily in the Midwest and Southeast regions.
Old National Bancorp (NASDAQ: ONB) has partnered with Axletree Solutions to enhance its secure transaction messaging capabilities through Swift. Axletree will host Old National Bank's Swift architecture, providing end-to-end control and transparency of banking transactions. As Old National's Swift Service Bureau, Axletree offers access to Swift without the internal burden of managing the technology infrastructure. The collaboration enables real-time tracking of international payments through Swift APIs in a secure environment. The partnership supports various Swift messaging capabilities, including wire transfers, ACH payments, and information reporting in multiple formats.
Old National Bancorp (NASDAQ: ONB) reported strong third quarter 2024 results, with net income applicable to common shares of $139.8 million and diluted EPS of $0.44. On an adjusted basis, net income was $147.2 million with EPS of $0.46. Key highlights include:
- Net interest income on a fully taxable equivalent basis of $397.9 million
- Net interest margin of 3.32%, down 1 basis point
- Period-end total deposits of $40.8 billion, up $0.8 billion
- End-of-period total loans of $36.5 billion, up 2.7% annualized
- Provision for credit losses of $28.5 million
- Efficiency ratio of 53.8%; adjusted efficiency ratio of 51.2%
The company maintained strong credit quality and capital ratios, with a tangible common equity to tangible assets ratio of 7.44%.
FAQ
What is the current stock price of Old National Bancorp (ONB)?
What is the market cap of Old National Bancorp (ONB)?
What services does Old National Bancorp provide?
Where is Old National Bancorp headquartered?
How much are Old National Bancorp's total assets?
What recent acquisitions has Old National Bancorp made?
How can investors access Old National Bancorp's financial data?
What is Old National Bancorp's approach to community banking?
What is the significance of Old National Insurance?
What was Old National Bancorp’s net income in Q1 2024?
How does Old National Bancorp handle non-GAAP financial measures?
What recent partnerships has Old National Bancorp announced?
