ONB
Old National Bancorp22.89
-0.10-0.44%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Aggressive buybacks, M&A sidelined
Q&A largely reaffirmed strong guidance but flagged more aggressive 2026 share repurchases than 2025's pace, while Jim Ryan firmly de-emphasized M&A to prioritize organic growth and talent hires. Loan pipelines swelled 15%, driven by optimistic borrower sentiment, middle-market C&I pickup, and expansion markets; pricing stayed disciplined despite pockets of competition. Credit upgrades outpaced downgrades two-to-one, justifying lighter provisions. Buybacks accelerate. Management stayed non-specific on CET1 targets above 11%, eyes deposit beta and curve shape for margin gains. Investors watch talent-driven execution.
Key Stats
Market Cap
8.94BP/E (TTM)
13.46Basic EPS (TTM)
1.70Dividend Yield
0.02%Recent Filings
8-K
Dividend up, buybacks doubled
Old National Bancorp's board announced four directors retiring effective May 13, 2026, shrinking the board from 16 to 12 while streamlining bylaws for flexibility. It hiked the quarterly common dividend 3.6% to $0.145 per share, payable March 16, and doubled the share repurchase authorization to $400M through February 2027. Directors get cash.
10-K
FY2025 results
Old National Bancorp capped FY2025 ended December 31, 2025 with $72.2B assets after completing the transformative Bremer acquisition on May 1, adding $16.3B assets, $11.1B loans, and $12.9B deposits that propelled 35% annual loan and deposit growth (5% organic). Q4 net interest income hit $581M with 3.65% NIM (derived), up from Q3's 3.64%, fueled by Bremer integration and lower deposit costs, while efficiency ratio tightened to 51.58% despite $25M merger costs. Loans grew to $48.8B (89% L/D), credit quality held with 1.07% NPLs and 0.27% NCOs, supported by $570M ACL (1.17%). Repurchased $150M shares; CET1 11.08%. Regional concentrations expose it to Midwest/Southeast downturns.
8-K
Q4 2025 record results
Old National Bancorp released its Q4 2025 investment thesis on February 9, 2026, highlighting record adjusted EPS of $0.62 and peer-leading 19.9% ROATCE amid 6.4% annualized loan growth funded by deposits. Total deposits held steady with costs at 180 bps; CET1 rose to 11.08%. Strong capital fuels buybacks. Outlook eyes >15% EPS growth in 2026.
8-K
Closed $450M notes offering
Old National Bancorp closed its $450 million issuance of 5.768% fixed-to-floating rate subordinated notes due 2036 on January 29, 2026, netting ~$446.6 million for general corporate purposes. Fixed rate holds through February 15, 2031, then floats off Three-Month Term SOFR plus 220 bps. Notes rank junior to senior debt. Redemption starts 2031, pending Fed approval.
8-K
Q4 2025 investor update
Old National Bancorp released its fixed income investor presentation on January 22, 2026, spotlighting Q4 2025 strength: $72B assets, 19.9% adjusted ROATCE, 46% adjusted efficiency ratio, and 6.4% annualized loan growth. Deposits grew 0.6% annualized at 180 bps cost, while NCOs stayed low at 16 bps excluding PCD. Strong profitability persists.
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