Old National Bancorp ( (ONB) ) has released its Q1 earnings. Here is a breakdown of the information Old National Bancorp presented to its investors.
Old National Bancorp, a major commercial bank headquartered in the Midwest, provides extensive consumer and commercial banking services, wealth management, and capital markets services primarily in the Midwest and Southeast United States.
In its first-quarter 2025 earnings report, Old National Bancorp reported a net income of $140.6 million applicable to common shares, translating to a diluted earnings per share (EPS) of $0.44. The company highlighted its strong deposit franchise, solid loan growth, and disciplined expense management as key drivers of its better-than-expected performance.
The bank’s net interest income on a fully taxable equivalent basis was $393.0 million, with a net interest margin of 3.27%. Total deposits at the end of the period were $41.0 billion, reflecting a 2.1% annualized increase, while total loans grew to $36.5 billion, up 1.5% annualized. The efficiency ratio improved to 53.7%, with an adjusted efficiency ratio of 51.8%. Additionally, Old National Bancorp maintained strong capital ratios, with a preliminary Tier 1 common equity ratio of 11.62%.
Looking ahead, Old National Bancorp is poised to continue navigating the challenging economic environment with confidence. The company is preparing for its upcoming partnership with Bremer Bank, expected to close on May 1, 2025, which is anticipated to further enhance its growth and operational capabilities.