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 Bancorp (NASDAQ: ONB) has been recognized by Points of Light as one of 'The Civic 50' for 2024. This annual list honors the 50 most community-minded companies in the U.S. based on corporate citizenship, social impact, and community engagement. Old National's employees volunteered over 57,000 hours in 2023. The Civic 50 honorees collectively engaged 450,000 employees for 6.5 million volunteer hours and donated over $1.5 billion in financial resources and $2.6 billion in in-kind goods and services. This recognition highlights the company's dedication to leveraging its resources to address community needs and promote employee well-being.
Old National Bancorp announced a quarterly cash dividend of $0.14 per share on its common stock, payable on June 17, 2024, to shareholders of record by June 5, 2024.
The Board also declared a quarterly dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, equivalent to $0.4375 per depositary share, payable on August 20, 2024, to shareholders of record by August 5, 2024.
Old National Bancorp, with $53 billion in assets and $29 billion under management, ranks among the top 30 U.S. banking companies.
Old National Bancorp team members, Jeff Boudreau and Cheri Rubocki, were honored by Military Friendly®. Boudreau received the Employee Veteran Leadership award, while Rubocki was named Veteran Champion of the Year in Corporate America. Both employees have shown exceptional dedication to supporting veterans in the civilian workforce. This recognition highlights Old National's commitment to creating sustainable programs for veterans.
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