Welcome to our dedicated page for Old Natl Bancorp Ind news (Ticker: ONB), a resource for investors and traders seeking the latest updates and insights on Old Natl Bancorp Ind stock.
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 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.
UMB Financial Corporation (Nasdaq: UMBF) announced an agreement to acquire the health savings account (HSA) business of Old National Bank (Nasdaq: ONB). The deal involves approximately $500 million in client assets, enhancing UMB's direct-to-employer business with around 157,000 accounts across more than 3,000 employer groups. The transaction is part of UMB's strategy for growth in the HSA sector, aiming to leverage synergies from the experienced team transitioning from Old National. The acquisition is pending regulatory approval and expected to close in Q4 2022.
Old National Bancorp (NASDAQ: ONB) has declared a quarterly cash dividend of $0.14 per share on its common stock, payable on June 15, 2022, to shareholders of record by June 1, 2022. Additionally, a cash dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, will be paid on August 20, 2022, to shareholders of record by August 5, 2022. Old National ranks among the top 35 U.S. banking companies, with approximately $46 billion in assets.
Old National Bank (NASDAQ: ONB) has appointed six new Market Presidents across its Illinois locations to enhance community engagement and leadership. The new leaders, including Mike Jamieson and Bob Kelly, will spearhead local brand activation and relationship-building efforts. This follows the completion of Old National's merger with First Midwest Bancorp, positioning them as the sixth largest commercial bank in the Midwest with $46 billion in assets. The appointments reflect the bank's commitment to strengthening its presence and addressing community needs.
Old National Bancorp (NASDAQ: ONB) reported a net loss of $29.6 million for Q1 2022, translating to a diluted EPS of $(0.13). Adjusted net income was $91.6 million, or $0.40 per diluted share, driven by strong commercial loan growth following the merger with First Midwest. Net interest income reached $226.6 million, with a net interest margin of 2.88%. Total loans increased to $28.4 billion, while total deposits rose to $35.6 billion. The company incurred $96.3 million in CECL Day 1 provision expenses and $52.3 million in merger-related charges, impacting overall financial performance.
Old National Bancorp (NASDAQ: ONB) announced its schedule for the first-quarter 2022 earnings release and conference call. The earnings release will occur on April 26, 2022, at approximately 8:00 A.M. ET, followed by a conference call at 10:00 A.M. ET. Investors can access the call via dial-in numbers or webcast on Old National's Investor Relations website. The replay of the call will be available for a limited time after completion. Old National is recognized for its ethical practices and ranks among the top 35 banking companies in the U.S., with over $46 billion in assets.
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