Old National Bancorp reports Q2 adjusted EPS 53c, consensus 51c

Net interest income on a fully taxable equivalent basis of $521.9M. Net interest margin on a fully taxable equivalent basis of 3.53%, up 26 basis points. Preliminary total risk-based capital down 109 bps to 12.59% and preliminary regulatory Tier 1 capital down 103 bps to 11.20%, as strong retained earnings were more than offset by the Bremer transaction and loan growth. Tangible common equity to tangible assets was 7.26%, down 6.4%. Reports tangible book value per share $12.60. “Old National’s impressive second quarter results were achieved through a strong focus on the fundamentals: Growing our balance sheet, expanding our fee-based businesses, and controlling expenses,” said Chairman and CEO Jim Ryan. “Additionally, with the successful closing of our partnership with Bremer on May 1, 2025, Old National is well-positioned for the remainder of the year, benefiting from a larger balance sheet and a stronger capital position.”