Old National Bancorp (NASDAQ: ONB) reported strong 4Q25 earnings with net income of $212.6 million and diluted EPS of $0.55. Adjusted net income was $241.0 million and EPS was $0.62. Full-year net income was $653.1 million, with diluted EPS of $1.79. The CEO highlighted record-breaking achievements in 2025, driven by core deposit growth and efficient operations.

In the fourth quarter, Old National saw an increase in net interest income and margin, with a NIM of 3.65%. Total deposits reached $55.1 billion, up 0.6% annually, while core deposits decreased. Loan growth was strong, particularly in commercial loans. Credit quality remained high, with net charge-offs of $32.1 million and an adequate allowance for credit losses.

Notable items in the quarter included pre-tax merger-related charges, a pension plan loss, and a reduction in FDIC special assessment. Excluding these items, adjusted net income was $241.0 million. Private banking and community deposits increased, offsetting seasonal outflows of public funds. The loan to deposit ratio stood at 89%, providing strong liquidity for the bank. Noninterest income for Old National Bancorp was $109.7 million in the fourth quarter of 2025, excluding a $15.9 million loss related to the Bremer pension plan termination. Noninterest expense was $386.3 million, including $24.5 million in merger-related charges. Income tax expense was $54.9 million, with an effective tax rate of 20.2%.

Capital ratios for Old National Bancorp remain strong, with total risk-based capital up to 12.85% and regulatory Tier 1 capital up to 11.53%. Tangible common equity to tangible assets was 7.72%. The company repurchased 1.1 million shares of common stock during the quarter.

Old National Bancorp will host a conference call and webcast on January 21, 2026, to review fourth quarter and full-year financial results. The live audio webcast link and presentation slides will be available on the Investor Relations website. Old National Bancorp serves clients in the Midwest and Southeast, with approximately $72 billion in assets and $37 billion in assets under management. Management at the Company believes that excluding certain items from noninterest expense and noninterest income can help assess operational performance. The tax-equivalent adjustment to net interest income recognizes income tax savings when comparing taxable and tax-exempt assets. Tangible common equity measures are used to assess capital adequacy. These non-GAAP financial measures should not be considered an alternative to GAAP.

The Company emphasizes that forward-looking statements in the earnings release are based on current expectations and forecasts of future events, subject to risks and uncertainties. Factors affecting outcomes include competition, government legislation, economic conditions, and operational risks. The impact of the Merger with Bremer, as well as other business combinations, on performance and financial condition is also highlighted. The Company does not undertake an obligation to update forward-looking statements. Old National Bancorp reported unaudited financial highlights for the fourth quarter of 2025. Net interest income was $580,832, with a provision for credit losses of $32,745. Noninterest income was $109,759, and net income available to common shareholders was $212,589. Book value per share was $21.17, and the stock price was $22.31. Key performance ratios were also disclosed.

In the income statement for the same period, interest income was $897,301, while interest expense was $316,469. Net interest income after provision for credit losses was $548,087. Total noninterest income was $109,759, and noninterest expense was $386,320. Income before income taxes stood at $271,526, with net income of $216,623. Earnings per share were $0.55.

The end of period balance sheet for December 31, 2025, showed total loans amounting to $48,764,162 and total assets of $72,151,967. Total deposits were $55,088,195, and total shareholders’ equity was $8,494,788. Key capital ratios were provided, including tier 1 common equity at 11.08% and total capital at 12.85%.

Average balance sheet and interest rates for the fourth quarter of 2025 revealed total earning assets of $64,456,815, with total interest-bearing liabilities of $48,698,484. The net interest margin on a fully taxable equivalent basis was 3.65%. The average balance sheet and interest rates for the full year 2025 showed total earning assets of $58,965,967, with total interest-bearing liabilities of $45,095,572. The net interest margin on a fully taxable equivalent basis was 3.54%. The asset quality for the financial institution shows a steady increase in the allowance for credit losses on loans, reaching $569,520 by the end of the reporting period. Nonperforming loans and foreclosed assets contribute to underperforming assets totaling $530,171, while classified and criticized assets amount to $3,109,674.

In terms of non-GAAP measures, the company reports adjusted net income applicable to common shares of $260,486, excluding intangibles amortization. The efficiency ratio for the period is 51.6%, with an adjusted efficiency ratio of 46.0%. Return on average tangible common equity stands at 17.8%, increasing to 19.9% when adjusted.

Tangible common equity to tangible assets ratio remains consistent around 7.72% to 7.53%. The company’s tangible common book value per share is reported at $13.71, reflecting a strong financial position. Risk-weighted assets are at $53,617,620, with a tangible common equity to risk-weighted assets ratio of 9.97%.

Read more at GlobeNewswire.: Old National Bancorp Reports Fourth Quarter and Full-Year