Old National Bancorp Reports Strong Q3 2025 Results

Old National Bancorp ( (ONB) ) has released its Q3 earnings. Here is a breakdown of the information Old National Bancorp presented to its investors.

Old National Bancorp, a leading commercial bank headquartered in the Midwest, offers a range of financial services including consumer and commercial banking, wealth management, and capital markets services, primarily serving clients in the Midwest and Southeast United States. The company recently announced its third quarter 2025 financial results, highlighting a strong performance with a net income applicable to common shares of $178.5 million and a diluted EPS of $0.46, which adjusted to $231.3 million and $0.59 respectively after excluding merger-related charges and other adjustments. This performance was bolstered by the completion of its partnership with Bremer Bank, positioning Old National for continued success.

Key financial metrics from the quarter include a net interest income of $582.6 million on a fully taxable equivalent basis, reflecting an increase in net interest margin to 3.64%. The company also reported a pre-provision net revenue of $267.3 million, with an adjusted figure of $336.6 million, marking a 16% rise. Total deposits grew to $55.0 billion, with core deposits increasing by 5.8% on an annualized basis. Loan growth was modest at 0.6% annualized, but excluding Bremer-acquired loans, the growth rate was 3.1% annualized. Credit quality remained robust with net charge-offs at 25 basis points of average loans.

The company’s efficiency ratio improved to 58.8%, with an adjusted efficiency ratio of 48.1%, reflecting disciplined expense management. Old National’s capital position remains strong, with a return on average tangible common equity of 15.9% and an adjusted figure of 20.1%. The preliminary regulatory Tier 1 common equity ratio increased to 11.02%. The company also repurchased 1.1 million shares of common stock during the quarter, demonstrating confidence in its financial position.

Looking ahead, Old National Bancorp is well-positioned to leverage the synergies from its recent merger with Bremer Bank. The company is focused on maintaining its strong credit quality and capital position while continuing to grow its deposit base and loan portfolio. Management remains optimistic about the company’s future prospects, emphasizing its commitment to delivering value to shareholders and strengthening its market position in the banking industry.