Old National Bancorp Stock Earnings Reports

Old National reported a record second quarter driven by strong organic loan growth, broad-based fee income, tight expense control and stable credit. Adjusted EPS and net income were records, with adjusted ROA of 1.39% and ~20% adjusted ROTACE. Period-end loans rose ~$1 billion (8% annualized), commercial production was $3.5B and the commercial pipeline reached a record $5.6B. Fee income outperformed guidance across wealth, investments, mortgage and capital markets. Efficiency hit a record low (adjusted 45.2%) marking the seventh straight quarter of positive operating leverage. Credit metrics remained healthy (nonaccruals down, low net charge-offs) and the ACL coverage stayed robust. Capital is strong (CET1 ~11.09%, tangible book value per share +14% YoY) and the company returned $163M to shareholders in the quarter via dividends and buybacks, with management planning to opportunistically use the remaining repurchase authorization through Feb 2027. Guidance was updated higher for loan growth (now 6–8% for 2026) and noninterest income; NII guidance unchanged but management expects NIM/NII to improve in H2 2026 driven by asset repricing, earning-asset remix and strong production. Management reiterated an organic-growth-first strategy (no reliance on acquisitions), continued investments in tech/AI/wealth/treasury, and an intention to balance reinvestment, capital strength and shareholder returns.