- Old National Bancorp (ONB, Financial) announced a net income of $140.6 million for Q1 2025, with a diluted EPS of $0.44.
- Net interest income was reported at $393.0 million, with a net interest margin of 3.27%.
- Total deposits increased to $41.0 billion, marking a 2.1% annualized growth.
Old National Bancorp (ONB), a regional bank holding company, reported robust financials for the first quarter of 2025. The company's net income was $140.6 million, with earnings per diluted share (EPS) of $0.44. On an adjusted basis, accounting for merger-related charges, net income was slightly higher at $145.5 million, and adjusted EPS was $0.45.
The bank's net interest income was $393.0 million, contributing to a net interest margin of 3.27%, which saw a slight decline of 3 basis points. Total deposits were up to $41.0 billion, reflecting a 2.1% annualized growth. Total loans also saw an annualized increase of 1.5%, reaching $36.5 billion.
Old National Bancorp continues to maintain a strong capital position, with a preliminary Tier 1 common equity ratio of 11.62%. The efficiency ratio improved to 51.8% on an adjusted basis, demonstrating disciplined expense management. The bank's credit quality remains robust with net charge-offs at 24 basis points and nonaccrual loans accounting for 1.29% of total loans.
The bank is on track to finalize its partnership with Bremer Bank, expected to close on May 1, 2025. This strategic alliance anticipates further growth opportunities for Old National Bancorp.
