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Overview
Old National Bancorp (NASDAQ: ONB) is a historic financial services holding company that has been serving its communities since its founding in 1834 in Evansville, Indiana. Renowned for its commitment to community banking, Old National has built enduring partnerships with clients across its core markets in Indiana, East Central Illinois, Kentucky, Michigan, and select Southeastern communities. The corporation combines a rich legacy with a modern approach to banking, leveraging a comprehensive suite of services designed to meet the evolving needs of both retail and commercial clients.
Comprehensive Financial Services
At its core, Old National Bancorp provides an integrated range of financial products and services that include:
- Retail and Commercial Banking: Delivering personalized deposit services, loan solutions, and credit facilities that support both individual customers and businesses.
- Wealth Management and Investment Advisory: Offering tailored financial planning, portfolio management, and investment strategies, ensuring clients receive expert guidance that aligns with their long-term financial objectives.
- Capital Markets and Brokerage Services: Facilitating activities in investment banking and brokerage, thereby enabling clients to access capital markets with confidence and expertise.
- Insurance Solutions: Through its affiliated insurance brokerage, Old National extends risk management and insurance services, positioning itself among the top brokers in the market.
The company’s diverse product mix is sustained by a strong commitment to resilient credit quality, disciplined expense management, and an emphasis on nurturing deep client relationships built over generations.
Regional Market Positioning and Community Focus
Old National Bancorp has strategically positioned itself as a major player within its regional footprint. Its operations are not merely transactional; they are built on the principle of developing long-term, highly valued partnerships with communities. This community-centric approach means that the bank continuously emphasizes local market knowledge, responsiveness to regional economic conditions, and a keen focus on fostering economic growth within the areas it serves. This approach reinforces its reputation as a trusted community partner.
Operational Excellence and Digital Transformation
In recent years, Old National has advanced its operational capabilities by embracing innovative technologies and digital solutions. A notable aspect of its strategy is the convergence of traditional banking with modern digital transformation — an effort supported through strategic partnerships with leading technology firms. By integrating advanced process digitization, automation, and digital banking platforms, Old National has enhanced its internal efficiency, improved client experiences, and maintained a competitive edge in a rapidly evolving financial services landscape. This modernization effort further underscores the bank's commitment to balancing its venerable history with contemporary innovations.
Strategic Acquisitions and Organizational Strength
A significant contributor to Old National’s growth and market strength has been its prudent engagement in strategic acquisitions. These acquisitions have not only expanded the bank's geographic footprint but have also enhanced its service offerings, particularly in regions known for vibrant economic activity. The integration of acquired operations has enriched its banking services, broadened its product portfolio, and reinforced its commitment to serving a diverse customer base with a seamless suite of financial solutions.
Expertise and Industry Recognition
Old National Bancorp stands out for its methodical approach to financial services, built on decades of expertise and steadfast customer commitment. Its portfolio, which includes consumer and commercial banking, wealth management, and capital markets services, reflects a deep understanding of industry dynamics and client needs. Through this multifaceted approach, the company has garnered recognition as one of the foremost community-centric financial institutions in its regions of operation. With a foundation built on trust, reliability, and rigorous financial stewardship, Old National continues to be a model of expert financial management and operational excellence.
Commitment to Quality and Client-Centric Services
Consistent with its long-standing tradition, Old National’s commitment is evident in its focus on quality service delivery, strong risk management practices, and an unwavering dedication to maintaining robust credit quality. Its customer-first philosophy is integrated across every operational facet—from originating commercial loans to providing detailed wealth management advice—ensuring that each client receives personalized attention tailored to their unique financial circumstances.
Conclusion
Old National Bancorp exemplifies what it means to blend a storied heritage with strategic operational enhancements. Through its comprehensive suite of services, regional market leadership, and commitment to digital innovation, the company continues to provide enduring value to its clients and communities. The institution’s emphasis on quality banking solutions, combined with its adaptive approach to technology and market trends, positions it as an essential resource within the financial services industry, ensuring that clients benefit from unmatched expertise and a supportive, community-oriented banking experience.
Old National Bancorp (NASDAQ: ONB) reported a net income of $56.2 million for Q4 2021, with diluted EPS of $0.34, showcasing robust commercial loan growth and controlled expenses. Adjusted net income reached $60.9 million or $0.37 per diluted share. For the full year, net income stood at $277.5 million ($1.67 per diluted share), driven by a 6.9% growth in commercial loans. Despite a decrease in net interest income to $146.8 million, the company maintained strong credit quality with a non-performing loans ratio of 0.92%.
Old National Bancorp (NASDAQ: ONB) will announce its fourth-quarter and full-year 2021 financial results on January 18, 2022. A conference call at 9:00 a.m. (Central) will provide insights into these results, including strategic developments and the company's financial outlook. The call will be accessible via a U.S. and international dial-in number, with a replay available from January 18 to February 1. Old National Bancorp, headquartered in Indiana, is a major player in community banking with $24.0 billion in assets and a presence in five states.
Old National Bank has been recognized as the number one Indiana-based lender and the second overall lender in Indiana for the SBA's 2021 fiscal year 7a loan volume rankings. The bank's SBA 7a loan volume doubled to $141 million, a significant increase from $70 million in 2020. Notable growth was reported across several states, with Michigan seeing a 129% increase and Minnesota a 65% increase in loan volume. The bank aims to support small business growth through its dedicated SBA services.
The Board of Directors of Old National Bancorp (ONB) declared a quarterly cash dividend of $0.14 per share, payable on December 15, 2021, to shareholders recorded by December 6, 2021. With an ex-dividend date of December 3, 2021, the annualized yield stands at 3.3% based on the closing price of $17.18 on October 27, 2021. Old National, holding $24.0 billion in assets, is recognized among the top 100 banking companies in the U.S.
Old National Bancorp (NASDAQ: ONB) reported a strong 3Q21 with a net income of $71.7 million and a diluted EPS of $0.43. Adjusted net income remained at $71.8 million, indicating no change in earnings per share. The quarter saw significant commercial loan growth, up $171.7 million, while total loans decreased by $198.7 million primarily due to a drop in PPP loans. Deposits rose 7.3% to $18.2 billion, driven by an increase in noninterest-bearing deposits. The company continues its merger with First Midwest Bank, pending Federal Reserve approval.
Old National Bancorp (NASDAQ: ONB) will announce its third-quarter 2021 financial results on October 19, 2021. A conference call will follow at 9:00 a.m. Central Time to discuss these results and the Company’s financial outlook. Interested parties can access the call via the provided dial-in numbers and a webcast will be available on the Investor Relations page of Old National’s website. Old National, with $23.7 billion in assets, is the largest bank holding company in Indiana and has a long-standing commitment to ethical banking practices.
Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share on its outstanding common stock. This dividend will be payable on September 15, 2021, to shareholders of record as of September 1, 2021. The ex-dividend date is August 31, 2021. With a closing price of $16.24 on July 28, 2021, this translates to an annualized dividend yield of 3.4%. Old National is the largest bank holding company in Indiana, boasting $23.7 billion in assets and recognized as a World’s Most Ethical Company.
Old National Bank (ONB) has appointed three key executives to strengthen its Wealth Group, focusing on Investment Management and High-Net-Worth services. Jim Steiner, Joe Colianni, and Eric Holman join from Abbot Downing, which saw its assets under management grow from $26 billion to $48 billion from 2011 to 2020. This strategic hire aligns with ONB's goal to enhance customized client services and expand its geographic reach, notably with new operations in Scottsdale, Arizona. Steiner will serve as Chief Investment Officer, while Colianni and Holman take pivotal leadership roles in high-net-worth advisory and risk management, respectively.
Old National Bancorp (NASDAQ: ONB) reported 2Q21 net income of $62.8 million, or $0.38 per diluted share. Adjusted net income was $67.4 million, or $0.41 per diluted share. Strong commercial loan production yielded over 11% annualized growth, with total commercial loans increasing by $250.2 million. The net interest margin was stable at 2.91%. However, total loans decreased to $13,834.8 million, primarily due to a $403 million drop in PPP loans. The company is set to merge with First Midwest Bank, aiming for enhanced growth and shareholder value.
Old National Bancorp (NASDAQ: ONB) will announce its second-quarter 2021 financial results on July 20, 2021, followed by a conference call at 9:00 a.m. (Eastern). The event will discuss results, strategic developments, and financial outlook. Investors can access the earnings release, presentation slides, and a live audio webcast via the Investor Relations section of Old National's website. Old National ranks as Indiana's largest bank holding company, with assets of $23.7 billion and recognition as a World's Most Ethical Company for a decade.
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