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 Bank has been recognized as one of the World's Most Ethical Companies in 2021 by Ethisphere for the 10th consecutive year. The bank is among five recognized in the banking sector, with 135 honorees across 22 countries. Ethisphere's index shows these companies outperformed large-cap peers by 7.1% from January 2016 to January 2021. The recognition highlights the bank's commitment to high ethical standards, transparency, and integrity in serving clients and communities.
Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share, payable on March 15, 2021, to shareholders of record on March 1, 2021. This dividend yields 3.3% based on the closing price of $17.09 on January 27, 2021. Additionally, the company has approved a stock repurchase plan authorizing the buyback of up to $100 million of its common stock through January 31, 2022, aimed at enhancing shareholder value.
Old National Bancorp (ONB) reported a strong fourth quarter for 2020, with a net income of $74.1 million and diluted earnings per share (EPS) of $0.44. Adjusted net income was $76.6 million, or $0.46 per share. Full-year net income reached $226.4 million, or $1.36 per share, with adjusted net income of $250.3 million and $1.50 EPS. The bank's net interest income rose to $164.6 million, and its net interest margin improved to 3.26%. Total loans stood at $13.8 billion, with significant growth in commercial loans.
Old National Bancorp (NASDAQ: ONB) will announce its fourth-quarter and full-year 2020 financial results on January 19, 2021, before markets open. A conference call will follow at 9:00 a.m. CST to discuss these results and the company’s financial outlook. The audio webcast, earnings release, and presentation slides will be available on their Investor Relations page. Old National Bancorp, with $22.5 billion in assets, is recognized as one of the top 100 U.S. banking companies and has been named one of the World’s Most Ethical Companies for nine years in a row.
The Board of Directors of Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share, payable on December 15, 2020, to shareholders of record on December 1, 2020. The ex-dividend date is November 30, 2020. Based on the closing price of $13.67 on October 28, 2020, this dividend reflects an annualized yield of 4.1%. Old National, headquartered in Indiana, is the largest bank holding company in the state with $22.5 billion in assets.
Old National Bancorp (NASDAQ: ONB) reported a strong 3Q20 with a net income of $77.9 million, or $0.47 per diluted share, exceeding expectations. Adjusted net income was $76.4 million, reflecting effective management strategies. Key highlights include a 3.4% increase in adjusted pre-provision net revenue and a solid credit profile with no provision for credit losses. Total loans rose to $13.98 billion driven by remarkable commercial production, while noninterest income rose to $64.7 million.
Old National Bancorp (NASDAQ: ONB) will release its third-quarter 2020 financial results on October 19, prior to market opening. A conference call is scheduled for 9:00 a.m. (Central) to discuss these results and the company’s financial outlook. The webcast and presentation slides will be available on their Investor Relations page. Old National Bancorp, headquartered in Indiana, has $22.1 billion in assets, ranking among the top 100 U.S. banking companies and recognized as a World’s Most Ethical Company for nine years consecutively.
Old National Bancorp (NASDAQ: ONB) announces its participation in the National Cybersecurity Awareness Month through the #BanksNeverAskThat anti-phishing campaign. The campaign aims to educate consumers on identifying phishing scams, which resulted in $1.9 billion in losses in 2019 alone. Utilizing humor, the initiative highlights that legitimate banks will never request sensitive information via text or email. Old National's leadership emphasizes the importance of safeguarding client finances while providing fraud awareness resources throughout October.
Old National has introduced a new executive leadership role of EVP, Strategic Business Partnerships, filled by Roland Shelton, previously the Executive Business Development Officer. Shelton aims to drive business development opportunities for minority-owned and underrepresented businesses while enhancing community partnerships. He has over 30 years of experience and has previously contributed to significant fundraising campaigns and partnerships, including those with Butler University. Old National, headquartered in Indiana and a top 100 U.S. banking company, emphasizes community-focused services and ethical banking practices.
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