Old National Bancorp Stock Earnings Reports

Old National reported a stronger-than-expected 1Q26 with momentum into the year. Key financials: GAAP EPS $0.59 and adjusted EPS $0.61; robust loan growth (loans up ~8% annualized, C&I +16.9% annualized) supported by a record $5.5 billion pipeline; deposits grew and deposit costs declined (spot deposit cost ~170 bps); CET1 > 11% and tangible book value per share up (6% linked-quarter annualized, 11% YoY). Management returned $151 million to shareholders in the quarter (3.9 million shares repurchased) and has $383 million remaining on the buyback. Operating performance: record adjusted efficiency ratio (~46%), positive operating leverage, fee income beat guidance ($122 million) and mortgage/capital markets outperformed seasonality. Credit remains solid (net charge-offs low; allowance ~122 bps of loans) despite migration of Bremer loans into their asset-quality framework. Guidance unchanged: full-year loan growth 4–6% (management expects toward the high end), stable-to-improving NII/NIM over 2026, fee income trending to high end, expenses guided higher than 1Q outturn to support hiring/talent and strategic investments (including AI), and management targets 15%+ EPS growth for the year. Management emphasized focus on organic growth, talent buildout, disciplined capital returns over M&A, and potential additional capital flexibility if proposed regulatory capital rule changes are finalized.