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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.

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Old National Bancorp (NASDAQ: ONB) reported a strong financial performance for 3Q22, with net income applicable to common shares reaching $136.1 million and diluted EPS of $0.47. Adjusted net income was $150.4 million with an adjusted EPS of $0.51, marking a nearly 19% year-over-year growth. Total loans increased by 13.2% annualized to $30.5 billion, while net interest income rose 11.6% to $381.5 million. However, noninterest income fell by 9.8% to $80.4 million, reflecting lower wealth management revenues.

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Old National Bancorp (NASDAQ: ONB) has scheduled its third-quarter 2022 earnings release for October 25, 2022, at 8:00 A.M. ET, followed by a conference call at 10:00 A.M. ET. Dial-in numbers are U.S. (844) 200-6205 and International (929) 526-1599, access code 504244. A webcast will be available on Old National’s Investor Relations website, and a replay will be accessible one hour post-call until November 8, 2022. Old National, a leading Midwest bank with $46 billion in assets, emphasizes community banking and ethical practices.

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Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share on common stock, payable on September 15, 2022, to shareholders of record by close of business on September 1, 2022.

Additionally, a dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock (Series A and C) has been announced, set for November 20, 2022, to shareholders of record as of November 5, 2022.

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Old National Bank has appointed Brent Tischler as the new Community Banking CEO. Tischler brings 24 years of experience in finance and consumer banking, previously serving as EVP at Associated Bank. He has a strong background in consumer and small business banking, strategic planning, and digital enablement. Tischler is an alumnus of Indiana University and the University of Chicago. His leadership is expected to strengthen Old National's presence in the Midwest. The bank, with assets totaling approximately $46 billion, has a long-standing commitment to community banking.

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Old National Bank has appointed Rafael A. Sanchez as EVP, Chief Impact Officer, effective July 26, 2022. In this newly created role, Sanchez will spearhead initiatives aimed at the financial advancement of underrepresented communities. He will continue serving as the Indianapolis Market President and engage in regional government relations. A law degree holder from Indiana University, Sanchez has been with ONB since 2018 and previously led Indianapolis Power & Light Co. The bank manages assets totaling approximately $46 billion.

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Old National Bancorp (ONB) reported a strong second quarter of 2022, with net income applicable to common shares of $111.0 million and diluted EPS of $0.38. Adjusted net income reached $134.6 million, or $0.46 per share. Highlights include a 17% increase in annualized loan growth, net interest income of $341.8 million, and a net interest margin of 3.33%. The merger with First Midwest Bancorp has positively impacted production, with total loans at $29.6 billion.

However, merger-related charges amounted to $36.6 million, influencing earnings.

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Old National Bancorp (NASDAQ: ONB) will release its second-quarter 2022 earnings on July 26, 2022, at approximately 8:00 A.M. ET. A conference call is scheduled for the same day at 10:00 A.M. ET. Participants can join by calling (844) 200-6205 for U.S. callers and (929) 526-1599 for international callers.

For those unable to attend live, a replay will be available shortly after the call. Old National, with approximately $46 billion in assets, ranks among the top 35 U.S. banking companies.

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UMB Financial Corporation (Nasdaq: UMBF) announced an agreement to acquire the health savings account (HSA) business of Old National Bank (Nasdaq: ONB). The deal involves approximately $500 million in client assets, enhancing UMB's direct-to-employer business with around 157,000 accounts across more than 3,000 employer groups. The transaction is part of UMB's strategy for growth in the HSA sector, aiming to leverage synergies from the experienced team transitioning from Old National. The acquisition is pending regulatory approval and expected to close in Q4 2022.

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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 $21.92 as of December 24, 2024.

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

The market cap of Old National Bancorp (ONB) is approximately 7.0B.

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.

Old National Bancorp

Nasdaq:ONB

ONB Rankings

ONB Stock Data

6.99B
316.02M
0.82%
83.74%
3.49%
Banks - Regional
National Commercial Banks
Link
United States of America
EVANSVILLE