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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.
Old National Bancorp (NASDAQ: ONB) reported a strong Q4 2022, with net income of $196.7 million, translating to earnings per share (EPS) of $0.67. For the full year, net income reached $414.2 million, or $1.50 per share. CEO Jim Ryan highlighted robust loan growth, enhanced net interest margin of 3.85%, and a return on average tangible common equity of 31.5%. Total loans increased by 7.7% annualized, reaching $31.1 billion. Operational efficiency improved as noninterest expenses decreased to $282.7 million, leading to an efficiency ratio of 49.1%. The company recorded a significant pre-tax gain of $90.7 million from the sale of health savings accounts.
Old National Bancorp has launched 1834, a new division focused on catering to high-net-worth individuals and institutions. Named after the year the bank was founded, 1834 offers customized wealth advisory services, including wealth planning, investment management, and trust services. Led by wealth management veterans with over 80 years of combined experience, the division aims to provide a boutique experience while leveraging the strength of Old National's nearly 190 years of history. The firm operates across the Midwest and has recently expanded into Nashville and Scottsdale. It emphasizes comprehensive, tailored services without the high entry costs typical of ultra-high-net-worth firms.
Old National Bancorp (NASDAQ: ONB) will release its fourth-quarter 2022 earnings on January 24, 2023, at 8:00 A.M. ET. A conference call will follow at 10:00 A.M. ET. Investors can participate by dialing U.S. (844) 200-6205 or International (929) 526-1599, using access code 379396. The call will also be available via webcast on Old National’s Investor Relations website. The replay can be accessed one hour after the call until January 23, 2024, for web and until February 7, 2023, for phone. Old National, a recognized ethical company, manages approximately $27 billion in assets.
Old National Bancorp (NASDAQ: ONB) announced a quarterly cash dividend of $0.14 per share on common stock, payable on December 15, 2022, to shareholders of record by December 1, 2022. Additionally, a dividend of $17.50 per share has been declared on the fixed-rate perpetual preferred stock (Series A and C), payable on February 20, 2023, to shareholders of record by February 5, 2023. With approximately $46 billion in assets, Old National ranks among the top 35 U.S. banking companies and has been recognized as a World’s Most Ethical Company.
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.