From GlobeNewswire: 2025-04-22 07:00:00

Old National Bancorp (NASDAQ: ONB) reported a 1Q25 net income applicable to common shares of $140.6 million, with diluted EPS of $0.44. Adjusted figures were $145.5 million and $0.45, respectively. CEO Jim Ryan highlighted strong performance driven by deposit franchise, loan growth, and expense management, setting up favorably for the future.

First quarter highlights included net interest income of $393.0 million, a net interest margin of 3.27%, and an efficiency ratio of 53.7%. Total deposits reached $41.0 billion, with core deposits up 1.7% annualized. Total loans stood at $36.5 billion, with strong credit quality metrics and a return on average tangible common equity of 15.0%.

Noninterest income decreased by 2.1%, impacted by lower bank fees and life insurance income. Noninterest expense was $268.5 million, including $5.9 million in merger-related charges. Adjusted figures showed an improvement in efficiency ratio to 51.8%. Income tax expense was $36.9 million, with an effective tax rate of 20.3%.

Capital ratios remained strong, with preliminary total risk-based capital up to 13.68% and Tier 1 capital up to 12.23%. Tangible common equity to tangible assets was 7.76%, reflecting a healthy capital position. Old National’s commitment to community support and financial stability remains a key focus.



Read more at GlobeNewswire:: Old National Bancorp Reports First Quarter 2025 Results