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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'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%.
Old National Bank has been recognized as one of 59 Leading Disability Employers for 2024 by the National Organization on Disability (NOD). This accolade, announced during National Disability Employment Awareness Month in October, acknowledges companies with outstanding disability inclusion practices and policies. The recognition is based on data from the NOD Employment Tracker™, a free assessment tool that correlates employment practices with improved talent outcomes for people with disabilities.
Beth Sirull, President and CEO of NOD, emphasized that diversity fuels innovation and growth, while inclusive workplaces reduce employee turnover. Corliss Garner, Chief Diversity, Equity and Inclusion Officer at Old National Bank, stated that inviting diversity and activating inclusion are critical to their success and serve as a differentiator for team members, clients, and communities.
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the sixth largest commercial bank headquartered in the Midwest, with approximately $53 billion of assets and $30 billion of assets under management. The bank focuses on building long-term partnerships with clients and supporting communities.
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, has announced its schedule for the third-quarter 2024 earnings release and conference call. The earnings release is set for Tuesday, October 22, 2024, at approximately 8:00 A.M. ET, followed by a conference call at 10:00 A.M. ET on the same day.
Investors can access the call via U.S. dial-in (800) 715-9871 or International (646) 307-1963, using access code 1586600. A webcast will be available on Old National's Investor Relations website, with replay options until October 22, 2025. A telephone replay will be accessible until November 5, 2024.
Old National Bancorp, the sixth largest commercial bank headquartered in the Midwest, serves clients primarily in the Midwest and Southeast. With $53 billion in assets and $30 billion in assets under management, it ranks among the top 30 banking companies in the U.S. The company focuses on building long-term partnerships and supporting communities, offering services in consumer and commercial banking, wealth management, and capital markets.
Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) and Old National Bank (NASDAQ: ONB) have expanded their strategic collaboration to accelerate the bank's operational and technological transformation. The partnership, which began in 2020, has enabled Old National to modernize its digital landscape using a self-funding model, resulting in improved stability, resiliency, and client experience.
The expanded collaboration will leverage Infosys' services, solutions, and platforms for operations transformation and process digitization powered by automation and GenAI. Jim Ryan, Chairman & CEO of Old National Bank, emphasized their commitment to exceptional client and team member experiences, while Dennis Gada, EVP and Global Head of Banking and Financial Services at Infosys, highlighted the cultural and strategic alignment between the two companies.
Old National Bancorp (NASDAQ: ONB) achieved record-breaking participation in its 3rd annual Better Together Days, a two-day volunteer initiative held on Sept. 18-19, 2024. The event saw 2,433 team members contribute 7,600 hours to 196 organizations across nine states. This volunteer blitz, which included virtual opportunities, allowed employees to serve communities in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, North Carolina, Tennessee, and Wisconsin.
Kathy Schoettlin, Chief Brand & Culture Officer, emphasized the importance of this initiative in maintaining the bank's community-focused mission. Old National, the sixth largest commercial bank in the Midwest with $53 billion in assets and $30 billion in assets under management, ranks among the top 30 banking companies in the United States. The company was also recognized as one of 'The Civic 50' by Points of Light in 2024 for its community engagement.
Old National Bancorp (NASDAQ: ONB) announced that its Chairman and CEO Jim Ryan will present at the 2024 Barclays Global Financial Services Conference in New York on September 10, 2024, at 2:00 p.m. ET. The presentation will be accessible via live webcast through the company's Investor Relations website, with a replay available for 90 days after the event.
Old National Bank, the sixth largest commercial bank in the Midwest, serves clients primarily in the Midwest and Southeast. With $53 billion in assets and $30 billion in assets under management, Old National ranks among the top 30 banking companies in the United States. Founded in 1834, the bank focuses on building long-term partnerships with clients and supporting local communities. Old National offers comprehensive services in consumer and commercial banking, wealth management, and capital markets.
Old National Bancorp (NASDAQ: ONB) has announced quarterly dividends for its shareholders. The company's Board of Directors declared a cash dividend of $0.14 per share on common stock, payable on September 16, 2024, to shareholders of record as of September 5, 2024. Additionally, a quarterly cash dividend of $17.50 per share was declared on the company's 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, payable on November 20, 2024, to shareholders of record as of November 5, 2024.
Old National Bancorp, with $53 billion in assets and $30 billion in assets under management, ranks among the top 30 banking companies in the United States. The company focuses on building long-term partnerships with clients and supporting communities, offering services in consumer and commercial banking, wealth management, and capital markets.
Old National Bancorp (NASDAQ: ONB) has received a top score of 100 on the Disability Equality Index, recognizing it as a 'Best Place to Work for Disability Inclusion'. This achievement underscores Old National's commitment to providing opportunities for individuals with disabilities at all levels of the organization.
The Disability Equality Index, a joint initiative of Disability:IN and The American Association of People with Disabilities (AAPD), is the world's most comprehensive benchmarking tool for measuring disability workplace inclusion. In 2024, 542 corporations, including 71 Fortune 100 and 220 Fortune 500 companies, participated in the assessment.
Old National, the sixth largest commercial bank headquartered in the Midwest, serves clients primarily in the Midwest and Southeast. With approximately $53 billion in assets and $30 billion in assets under management, it ranks among the top 30 banking companies in the United States.
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