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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) 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.
Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share, payable on September 15, 2020, to shareholders recorded by September 1, 2020. The ex-dividend date is August 31, 2020. This dividend yields 3.9% based on the closing price of $14.29 on July 29, 2020.
Old National Bancorp, headquartered in Indiana, ranks among the top 100 U.S. banking companies with assets of $22.1 billion and has been recognized as one of the World’s Most Ethical Companies for nine consecutive years.
Old National Bank has partnered with Bankable and the Mid-States Minority Supplier Development Council to support Minority Business Enterprises (MBEs) in Indiana. This collaboration will provide financing solutions and resources aimed at enhancing the stability and growth of MBEs impacted by COVID-19. Old National is contributing $50,000 to launch the initiative, reinforcing its commitment to economic development and financial empowerment for diverse businesses. The bank's efforts reflect its long-standing focus on community support and engagement in local economic activities.
Old National Bancorp (NASDAQ: ONB) reported a net income of $51.7 million for Q2 2020, translating to a diluted EPS of $0.32. Adjusted net income rose to $55.1 million, or $0.33 per share. The bank's strong loan production was highlighted by aiding over 9,400 clients in securing Paycheck Protection Program funding, impacting nearly 160,000 employees. The bank maintained robust credit quality metrics with net charge-offs at only 0.02%. Total loans stood at $13.7 billion, including $1.46 billion in PPP loans, while total deposits increased to $16.3 billion.
Old National Bancorp (NASDAQ: ONB) and Infosys (NYSE: INFY) have announced a strategic partnership aimed at accelerating ONB's digital transformation. This collaboration focuses on modernizing technology infrastructure to enhance client and employee experiences. Key goals include improving operational efficiency, promoting innovation, and streamlining processes. Infosys will also hire American workers in Indiana, supporting local talent development. This initiative aligns with ONB's objectives of becoming a top-performing independent bank and deepening client relationships.
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