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Old National Bancorp reports news on its role as the holding company of Old National Bank, a regional bank serving clients primarily in the Midwest and Southeast. Coverage centers on consumer and commercial banking, wealth management, capital markets services, quarterly operating results, dividends, share repurchase authorization, and investor presentations.
Company updates also cover community banking themes, including financial education through Real-Life Finance®, Community Reinvestment Act activity, community investment reports, and programs for underserved individuals and neighborhoods. Leadership changes in commercial, corporate, specialty banking and capital markets are recurring corporate-development topics.
On November 1, 2022, Old National Bancorp will celebrate its merger with First Midwest Bancorp by ringing the closing bell at Nasdaq. CEO Jim Ryan, along with other executives, will represent the company in this symbolic event. Old National, a leading commercial bank in the Midwest with approximately $46 billion in assets, has been recognized as a World’s Most Ethical Company for 11 consecutive years. This event also coincides with the bank's upcoming 188th anniversary.
Old National Bancorp (NASDAQ: ONB) reported a strong financial performance for 3Q22, with net income applicable to common shares reaching $136.1 million and diluted EPS of $0.47. Adjusted net income was $150.4 million with an adjusted EPS of $0.51, marking a nearly 19% year-over-year growth. Total loans increased by 13.2% annualized to $30.5 billion, while net interest income rose 11.6% to $381.5 million. However, noninterest income fell by 9.8% to $80.4 million, reflecting lower wealth management revenues.
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Old National Bancorp (NASDAQ: ONB) has scheduled its third-quarter 2022 earnings release for October 25, 2022, at 8:00 A.M. ET, followed by a conference call at 10:00 A.M. ET. Dial-in numbers are U.S. (844) 200-6205 and International (929) 526-1599, access code 504244. A webcast will be available on Old National’s Investor Relations website, and a replay will be accessible one hour post-call until November 8, 2022. Old National, a leading Midwest bank with $46 billion in assets, emphasizes community banking and ethical practices.
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Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share on common stock, payable on September 15, 2022, to shareholders of record by close of business on September 1, 2022.
Additionally, a dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock (Series A and C) has been announced, set for November 20, 2022, to shareholders of record as of November 5, 2022.
Old National Bank has appointed Brent Tischler as the new Community Banking CEO. Tischler brings 24 years of experience in finance and consumer banking, previously serving as EVP at Associated Bank. He has a strong background in consumer and small business banking, strategic planning, and digital enablement. Tischler is an alumnus of Indiana University and the University of Chicago. His leadership is expected to strengthen Old National's presence in the Midwest. The bank, with assets totaling approximately $46 billion, has a long-standing commitment to community banking.
Old National Bank has appointed Rafael A. Sanchez as EVP, Chief Impact Officer, effective July 26, 2022. In this newly created role, Sanchez will spearhead initiatives aimed at the financial advancement of underrepresented communities. He will continue serving as the Indianapolis Market President and engage in regional government relations. A law degree holder from Indiana University, Sanchez has been with ONB since 2018 and previously led Indianapolis Power & Light Co. The bank manages assets totaling approximately $46 billion.
Old National Bancorp (ONB) reported a strong second quarter of 2022, with net income applicable to common shares of $111.0 million and diluted EPS of $0.38. Adjusted net income reached $134.6 million, or $0.46 per share. Highlights include a 17% increase in annualized loan growth, net interest income of $341.8 million, and a net interest margin of 3.33%. The merger with First Midwest Bancorp has positively impacted production, with total loans at $29.6 billion.
However, merger-related charges amounted to $36.6 million, influencing earnings.
Old National Bancorp (NASDAQ: ONB) will release its second-quarter 2022 earnings on July 26, 2022, at approximately 8:00 A.M. ET. A conference call is scheduled for the same day at 10:00 A.M. ET. Participants can join by calling (844) 200-6205 for U.S. callers and (929) 526-1599 for international callers.
For those unable to attend live, a replay will be available shortly after the call. Old National, with approximately $46 billion in assets, ranks among the top 35 U.S. banking companies.