Old Natl Bancorp Ind Stock Price, News & Analysis

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.

Old National Bancorp (NASDAQ: ONB) announced that CEO Jim Ryan will participate in a virtual bank mergers and acquisitions panel at the 2022 RBC Capital Markets Financial Institutions Conference on March 9, 2022, at 1:20 p.m. Eastern Time. Interested investors can access the live webcast through the Investor Relations section of oldnational.com, with a replay available afterward. Old National, the largest bank holding company in Indiana, completed a merger with First Midwest Bancorp and manages over $34 billion in assets, recognized as a World’s Most Ethical Company for 10 consecutive years.

Old National Bancorp (NASDAQ: ONB) announced a new stock repurchase program, allowing up to $200 million in buybacks of its common stock. These transactions may occur on the open market or via private negotiations and will be active until January 31, 2023. This strategic move aims to enhance shareholder value as the company continues to solidify its position within the competitive banking sector, boasting over $46 billion in assets after its recent merger with First Midwest Bancorp.

On February 16, 2022, Old National Bancorp and First Midwest Bancorp announced the successful completion of their all-stock merger, forming the sixth-largest commercial bank in the Midwest with over $46 billion in assets. The merger, effective February 15, 2022, allows former First Midwest shareholders to receive 1.1336 shares of Old National stock per share held. The new company will continue under the Old National brand with a dual headquarters in Evansville and Chicago, and an integrated financial services approach aimed at enhancing customer engagement and market reach.

Old National Bancorp (NASDAQ: ONB) announced an $8.3 billion Community Growth Plan to support underserved communities, pending the merger with First Midwest. The Plan includes nearly $5 billion for community lending to low-to-moderate income (LMI) borrowers and $3.3 billion for community development projects over five years. Key commitments include $2 billion for mortgage lending, $3 billion for small business loans, and over $3 billion for community development investments. The combined entity will emerge as a significant banking force in the Midwest, enhancing services across its footprint.

Old National Bancorp (ONB) and First Midwest Bancorp announce the receipt of Federal Reserve approval for their merger, initially disclosed on June 1, 2021. The merger is anticipated to finalize by March 1, 2022, creating one of the largest banks in the Midwest with combined assets exceeding $45 billion. Both companies emphasize a customer-centric approach and community commitment, with the merger expected to enhance market competitiveness and growth opportunities. Old National will maintain its branding and dual headquarters post-merger.

Old National Bancorp has declared a quarterly dividend of $0.14 per share on its common stock, payable on March 15, 2022. Shareholders of record as of March 4, 2022 will receive this dividend, with the ex-date being March 3, 2022. This dividend represents an annualized yield of 3.0% based on its closing price of $18.87 on January 26, 2022. Old National Bancorp, with $24.5 billion in assets, is the largest bank holding company in Indiana and operates in several states, providing extensive banking and wealth management services.

Old National Bancorp (NASDAQ: ONB) reported a net income of $56.2 million for Q4 2021, with diluted EPS of $0.34, showcasing robust commercial loan growth and controlled expenses. Adjusted net income reached $60.9 million or $0.37 per diluted share. For the full year, net income stood at $277.5 million ($1.67 per diluted share), driven by a 6.9% growth in commercial loans. Despite a decrease in net interest income to $146.8 million, the company maintained strong credit quality with a non-performing loans ratio of 0.92%.

Old National Bancorp (NASDAQ: ONB) will announce its fourth-quarter and full-year 2021 financial results on January 18, 2022. A conference call at 9:00 a.m. (Central) will provide insights into these results, including strategic developments and the company's financial outlook. The call will be accessible via a U.S. and international dial-in number, with a replay available from January 18 to February 1. Old National Bancorp, headquartered in Indiana, is a major player in community banking with $24.0 billion in assets and a presence in five states.