Old National Bancorp - ONB STOCK NEWS

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.

Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share on its common stock, payable on June 15, 2022, to shareholders of record by June 1, 2022. Additionally, a cash dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, will be paid on August 20, 2022, to shareholders of record by August 5, 2022. Old National ranks among the top 35 U.S. banking companies, with approximately $46 billion in assets.

Old National Bank (NASDAQ: ONB) has appointed six new Market Presidents across its Illinois locations to enhance community engagement and leadership. The new leaders, including Mike Jamieson and Bob Kelly, will spearhead local brand activation and relationship-building efforts. This follows the completion of Old National's merger with First Midwest Bancorp, positioning them as the sixth largest commercial bank in the Midwest with $46 billion in assets. The appointments reflect the bank's commitment to strengthening its presence and addressing community needs.

Old National Bancorp (NASDAQ: ONB) reported a net loss of $29.6 million for Q1 2022, translating to a diluted EPS of $(0.13). Adjusted net income was $91.6 million, or $0.40 per diluted share, driven by strong commercial loan growth following the merger with First Midwest. Net interest income reached $226.6 million, with a net interest margin of 2.88%. Total loans increased to $28.4 billion, while total deposits rose to $35.6 billion. The company incurred $96.3 million in CECL Day 1 provision expenses and $52.3 million in merger-related charges, impacting overall financial performance.

Old National Bancorp (NASDAQ: ONB) announced its schedule for the first-quarter 2022 earnings release and conference call. The earnings release will occur on April 26, 2022, at approximately 8:00 A.M. ET, followed by a conference call at 10:00 A.M. ET. Investors can access the call via dial-in numbers or webcast on Old National's Investor Relations website. The replay of the call will be available for a limited time after completion. Old National is recognized for its ethical practices and ranks among the top 35 banking companies in the U.S., with over $46 billion in assets.

Old National Bancorp (NASDAQ: ONB) announced a quarterly cash dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C. The dividend, equivalent to $0.4375 per depositary share, is payable on May 20, 2022 to stockholders of record by May 5, 2022. This reflects the company's continued commitment to returning value to its shareholders.

Old National Bank announced its expansion into the greater Kansas City region with the opening of a new Commercial Banking office. The bank has hired Steve Liggett as Market President and David Robinson as Corporate Relationship Manager, both with extensive local banking experience. This move is part of Old National's strategy to enhance its commercial capabilities and strengthen its presence in the market. With over $46 billion in assets, Old National is recognized as a top banking company in the U.S. and aims to maintain its commitment to community banking.