Old National Bancorp Stock Earnings Reports

Old National reported a strong 3Q25 with results at or above guidance across major income statement items. Adjusted EPS was $0.59 (GAAP $0.46), driven by the full-quarter impact of the Bremer acquisition, margin expansion, higher fee income and well-controlled expenses. Profitability metrics remained top-decile: adjusted ROTCE ~20%, ROA >1.3%, and an efficiency ratio below 50%. Credit trends were benign — criticized and classified loans fell ~6% (~$223M) and delinquencies improved; total ALLL (including reserves for unfunded commitments) was ~126 bps. Capital rebuilt quickly: CET1 rose to >11% (up 28 bps linked quarter), tangible book value per share grew, and the company repurchased 1.1M shares late in the quarter. The Bremer systems conversion and rebranding completed successfully; merger-related charges were ~$70M in 3Q with roughly $50M expected in 4Q and smaller stragglers into 1H26. Liquidity and deposit trends were positive (core deposit growth ~5.8% annualized; NIB deposits ~24% of core), loan-to-deposit ratio ~87%. Management expects full-year loan growth (ex-Bremer) of 4–5%, NII/NIM stable-to-improving into 2026 (assumes two 25bp cuts per forward curve), and fee income to normalize from an elevated 3Q. Capital return remains a priority — buybacks will be opportunistic while balancing organic growth and capital build from strong earnings.