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Old National Bancorp - ONB STOCK NEWS

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.

News

Old National Names Thurston as Corporate Banking Executive

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Old National Bank appoints John C. Thurston as Corporate Banking Executive and Senior Vice President of Corporate Banking. Thurston brings over 30 years of banking industry experience to lead strategic initiatives, drive new business, and strengthen relationships with corporate clients.
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Old National's 4th Quarter and Record Full-Year Results Supported by Strong Deposit Franchise, Stable Credit Quality and Well-Managed Expenses

Rhea-AI Summary
Old National Bancorp (NASDAQ: ONB) reported strong financial results for 4Q23, with net income applicable to common shares of $128.4 million and diluted EPS of $0.44. Adjusted figures were even higher, with net income of $134.6 million and EPS of $0.46. CEO Jim Ryan highlighted the company's strong performance, with a 17% year-over-year growth in tangible book value per share and a 3.7% average dividend yield for shareholders. The company also announced the retirement of Mike Scudder as Executive Chairman, with Jim Ryan succeeding him. Despite strong financials, the company faced challenges with lower net interest income and margin compression.
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Old National, NCRC Announce Addendum to Increase Community Growth Plan to $9.5 Billion

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Old National Bancorp announces a $1.2 billion addendum to its $8.3 billion Community Growth Plan, expanding its commitment to historically underserved and economically-disadvantaged individuals, families, and communities. The addendum, developed in collaboration with the National Community Reinvestment Coalition (NCRC), is subject to the closing of the partnership with CapStar Financial Holdings, Inc. The commitments include goals for mortgage lending, small business lending, community development lending and investments, philanthropic activities, and racial equity commitments.
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Proteus Announces Partnership with 1834, a Division of Old National Bank, to Elevate Alternative Investment Offerings

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Proteus (PROT) has been chosen by 1834, a division of Old National Bank, as their alternative investment platform partner, marking a significant milestone in tailoring a custom-made alternative investing platform to cater to the evolving needs of 1834's expanding client base. The collaboration aims to enhance 1834's suite of alternative investment offerings, providing clients with access to a curated selection of investment opportunities including private equity, private credit, private real estate, hedge funds, and real assets. Proteus' innovative, evergreen feeder structure and ability to implement alternative model portfolios were key factors in their selection as a strategic partner. The partnership underscores Proteus' commitment to delivering cutting-edge technology and comprehensive support to its clients, integrating with 1834's existing infrastructure to provide a user-friendly interface for advisors and clients alike.
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Old National Bancorp Announces Schedule for Fourth-Quarter and Full-Year 2023 Earnings Release and Conference Call

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Old National Bancorp (ONB) has announced the schedule for its fourth-quarter and full-year 2023 earnings release and conference call, set to take place on Tuesday, January 23, 2024, at 8:00 A.M. ET and 10:00 A.M. ET, respectively. The company has provided dial-in numbers for the conference call, as well as details for accessing the webcast, webcast replay, and telephone replay.
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Old National Names Goldfeder Chief Credit Officer

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Carrie Goldfeder, a seasoned credit executive with over 25 years of experience, has joined Old National Bank (NASDAQ: ONB) as Chief Credit Officer. She will oversee credit risk, lead the Credit Administration team, and advance portfolio management capabilities. Goldfeder's prior experience includes roles at Capital One and GE Capital.
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Old National Bancorp Announces Quarterly Dividends

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Old National Bancorp (NASDAQ: ONB) declares a quarterly cash dividend of $0.14 per share on common stock and $17.50 per share on preferred stock. The dividends are payable on December 15, 2023, and February 20, 2024, respectively. This announcement indicates the company's commitment to rewarding shareholders and providing consistent returns.
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Old National Bank Earns 2024 Military Friendly® Employer Designation

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ONB - Old National Bank Earns 2024 Military Friendly® Employer Designation
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Old National to Partner with Nashville-based CapStar

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Old National Bancorp and CapStar Financial Holdings have entered into a merger agreement for Old National to acquire CapStar in an all-stock transaction. The partnership will strengthen Old National's presence in Nashville and add high-growth markets, bringing $3.3 billion in total assets, $2.3 billion in total loans, and $2.8 billion in deposits. The transaction is valued at approximately $344.4 million.
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Old National's 3rd Quarter Results Supported by Strong Deposit Franchise, Ample Capital, and Expense Discipline

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Old National Bancorp reports 3Q23 net income of $143.8 million and diluted EPS of $0.49. CEO highlights 3% increase in total deposits and strong capital and liquidity position. Net interest margin decreases by 11 bps. Noninterest income down 1%. Noninterest expense decreases. Capital ratios grow. Conference call scheduled for October 24th.
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FAQ

What is the current stock price of Old National Bancorp (ONB)?

The current stock price of Old National Bancorp (ONB) is $23.859 as of February 4, 2025.

What is the market cap of Old National Bancorp (ONB)?

The market cap of Old National Bancorp (ONB) is approximately 7.6B.

What services does Old National Bancorp provide?

Old National Bancorp offers retail and commercial banking, wealth management, investments, brokerage, and insurance services.

Where is Old National Bancorp headquartered?

Old National Bancorp is headquartered in Evansville, Indiana.

How much are Old National Bancorp's total assets?

As of Q1 2024, Old National Bancorp has approximately $53 billion in total assets.

What recent acquisitions has Old National Bancorp made?

Old National Bancorp recently acquired CapStar Financial Holdings, Inc., enhancing its presence in Nashville, Tennessee and other high-growth markets.

How can investors access Old National Bancorp's financial data?

Investors can access financial data via Old National Bancorp's Investor Relations page at oldnational.com.

What is Old National Bancorp's approach to community banking?

Old National Bancorp focuses on building long-term, highly valued partnerships within the communities it serves.

What is the significance of Old National Insurance?

Old National Insurance is one of the top 100 brokers in the U.S., providing extensive insurance services.

What was Old National Bancorp’s net income in Q1 2024?

Old National Bancorp reported a net income applicable to common shares of $116.3 million for Q1 2024.

How does Old National Bancorp handle non-GAAP financial measures?

Old National Bancorp provides non-GAAP performance results to assist investors in assessing its operating performance, excluding certain notable items.

What recent partnerships has Old National Bancorp announced?

Old National Bancorp partnered with Proteus for a tailored alternative investment platform catering to high-net-worth clients.
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Old National Bancorp

Nasdaq:ONB

ONB Rankings

#1038 Ranked by Market Cap
#1292 Ranked by Dividends

ONB Stock Data

7.58B
316.09M
0.82%
83.39%
10.73%
Banks - Regional
National Commercial Banks
Link
United States of America
EVANSVILLE