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About Old National Bancorp
Old National Bancorp (NASDAQ: ONB) is a prominent financial services holding company headquartered in Evansville, Indiana. Established in 1834, it stands as one of the oldest banking institutions in the United States, with a rich history rooted in community-centered banking. As the sixth-largest commercial bank headquartered in the Midwest, Old National serves a diverse clientele across the Midwest and Southeast, including Indiana, Illinois, Kentucky, Michigan, and Tennessee. Its extensive footprint and strategic acquisitions place it among the top 30 banking companies in the United States by asset size.
Core Business Areas
Old National operates through a comprehensive suite of financial services, including:
- Retail and Commercial Banking: Offering a wide range of deposit products, consumer loans, commercial lending, and real estate financing, Old National caters to both individual and business clients.
- Wealth Management: Providing investment advisory, trust services, and capital market solutions tailored to high-net-worth individuals and institutional clients.
- Insurance Brokerage: Through Old National Insurance, one of the top 100 insurance brokers in the U.S., the company delivers risk management and insurance solutions to businesses and individuals.
By integrating these services, Old National positions itself as a one-stop financial partner for its clients, emphasizing long-term relationships and personalized service.
Market Position and Strategic Growth
Old National Bancorp has solidified its position as a leader in community banking by focusing on building enduring partnerships with clients and supporting the communities it serves. Its strategic acquisitions, such as the recent merger with CapStar Financial Holdings, have expanded its geographic reach and enhanced its service capabilities. With approximately $54 billion in assets and $31 billion in assets under management, the company is a significant player in the U.S. banking landscape.
Old National differentiates itself through its commitment to community engagement and its ability to adapt to the evolving financial needs of its clients. Its partnership with Infosys for digital transformation underscores its focus on leveraging technology to enhance operational efficiency and client experiences.
Competitive Landscape
Operating in the highly competitive financial services industry, Old National faces competition from both national and regional banks. Its emphasis on community banking, combined with its diversified service offerings and strategic growth initiatives, allows it to maintain a competitive edge. The company’s robust credit quality, disciplined expense management, and focus on core deposit growth further reinforce its market position.
Commitment to Community and Sustainability
Old National’s dedication to community banking extends beyond financial services. Recognized as one of "The Civic 50" by Points of Light, the company is celebrated for its commitment to corporate social responsibility and community development. This recognition reflects its efforts to strengthen the communities it serves through financial literacy programs, charitable contributions, and volunteerism.
Conclusion
With nearly two centuries of experience, Old National Bancorp exemplifies stability, adaptability, and a client-first approach. Its diversified business model, strategic growth through acquisitions, and focus on community impact position it as a trusted partner for individuals, businesses, and investors seeking comprehensive financial solutions.
The Board of Directors of Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share, payable on June 15, 2021, to shareholders of record by June 1, 2021. The ex-dividend date is set for May 28, 2021. Based on the closing price of $19.11 on April 28, 2021, this dividend represents an annualized yield of 2.9%. Old National is recognized as a top 100 banking company in the U.S. with $23.7 billion in assets, emphasizing community banking across several states.
Old National Bancorp (NASDAQ: ONB) reported a strong 1Q21 with a net income of $86.8 million and a diluted EPS of $0.52. Adjusted net income also stood at $86.4 million. Key highlights include record commercial loan production of $718 million and a total loan increase to $13.98 billion. Despite a decrease in net interest income to $148.1 million and a net interest margin drop to 2.94%, the bank showed strong credit quality with non-performing loans decreasing to 1.13%.
Old National Bancorp (NASDAQ: ONB) will announce its first-quarter 2021 financial results on April 19, 2021, before market opening. Following the release, a conference call will occur at 9:00 a.m. Central Time to discuss results and future outlook. The earnings release, audio webcast, and presentation will be available on the company’s Investor Relations page. Old National, established in 1834, has $23.0 billion in assets and is recognized for its ethical standards, serving clients across Indiana, Kentucky, Michigan, Minnesota, and Wisconsin.
Old National Bancorp announces the promotion of Kendra Vanzo to Senior Executive Vice President. Vanzo, with the company since 1994, has held various leadership positions and has been instrumental in numerous projects. CEO Jim Ryan praised her as a passionate leader who inspires others. Vanzo holds a Bachelor's degree in business administration and an MBA. She is actively involved in her community, serving on several boards and earning multiple awards for her contributions. Old National, based in Indiana, is a top 100 U.S. bank with $23.0 billion in assets.
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.
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