Old National Bancorp (ONBPP) Earnings
Old National Bancorp is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.63. ONBPP has beaten EPS estimates in 3 of its last 10 reported quarters (average surprise -11.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.60 | $0.61 | +0.8% | $703M | -0.5% |
| Jan 21, 2026 | $0.59 | $0.56 | -6.1% | $1.0B | +42.8% |
| Oct 20, 2025 | $0.56 | $0.51 | -9.1% | $1.0B | +50.5% |
| Jul 21, 2025 | $0.52 | $0.35 | -33.1% | $957M | +35.8% |
| Jan 21, 2025 | $0.46 | $0.48 | +4.8% | $758M | +58.8% |
| Oct 22, 2024 | $0.46 | $0.45 | -1.6% | $774M | +60.5% |
| Jul 23, 2024 | $0.44 | $0.38 | -13.4% | $752M | +58.9% |
| Mar 5, 2024 | $0.48 | $0.45 | -5.2% | $465M | +3.5% |
| Nov 1, 2023 | $0.50 | $0.51 | +1.5% | $456M | +0.8% |
| Aug 2, 2023 | $0.50 | $0.53 | +6.2% | $464M | +3.6% |
| May 3, 2023 | — | $0.50 | — | $452M | — |
| Feb 22, 2023 | — | $0.69 | — | $556M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · January 21, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Jim Ryan congratulated the Indiana Hoosiers on their National College Football Championship and highlighted 2025 results with records in adjusted earnings per share, net income, and efficiency ratio. - The company successfully completed the systems conversion and integration related to the Bremer Bank partnership, which was a major and well-executed effort. - Focus on fundamentals included core deposit growth to support loan expansion, positive operating leverage, disciplined credit management, and healthy liquidity and capital ratios. - In 2026, the company will maintain balance between building capital organically and returning capital through share repurchases, and will invest in talent, technology, and client-facing capabilities.
Guidance
- 2026 loan growth expected to be 4-6% full year, with first quarter growth 3-5%. - Fee income expected to remain strong due to supportive rate backdrop for mortgage and capital markets. - Expense guidance incorporates full Bremer cost savings and seasonal factors. - NII expected to increase with fixed asset repricing and growth; assumptions include 2 additional 25 basis point rate cuts in 2026, 5-year treasury rate at 375 basis points, total down rate deposit beta of approximately 40%, and stable noninterest bearing deposits.
Segment performance
In the fourth quarter of 2025, Old National Bancorp reported GAAP earnings per share of $0.55. Excluding certain items, adjusted earnings per share were $0.62, a 5% increase from the prior quarter and 27% year over year. Credit improved with an 8% reduction in total criticized and classified loans. Profitability metrics such as adjusted return on average tangible common equity of nearly 20%, adjusted ROA of 1.37%, and adjusted efficiency ratio of 46% were peer-leading. The capital position rebuilt quickly with CET1 over 11%, and tangible book value per share grew over 17% annualized. Total loans grew 6.4% annualized, deposit growth kept pace with asset growth, and the loan to deposit ratio was 89%. Revenue contribution was driven by stable margin, better-than-expected fee income growth, and well-controlled expenses.
Analyst Q&A
Q: Scott Siefers asked about the margin trajectory and pace of share repurchase.
A: John Moran responded that the bigger factor in margin trajectory was day count, and the company plans to be more active in share repurchases in 2026 compared to 2025.
Q: Brendan Nosal inquired about margin striping out day count factors and credit reserve coverage.
A: John Moran stated margin striping out day count factors is stable, and credit reserve coverage is influenced by improvement in criticized and classified book.
Q: Jared Shaw asked about core target CET1 and deposit seasonality.
A: John Moran said comfortable with current CET1, and deposit seasonality is stable as a percentage.
Q: Ben Gerlinger asked about growth sources and pricing.
A: Jim Ryan mentioned broad-based growth from C and I middle markets, CRE demand drivers, and disciplined pricing.
Q: Terry McEvoy asked about fee seasonality and loan securities repricing.
A: John Moran said there's seasonality in mortgage, and on loan side, ~$5 billion of loans over next twelve months with 70 basis points spread, and $2.9 billion cash flow in investment portfolio with new money yields 94 basis points above back book yield.
Q: Jeanette Lee asked about securities portfolio yields and deposit growth.
A: Jim Ryan said securities as percentage of earning assets will be stable, and deposit cost has room to pull down.
Q: Chris McGratty asked about deposit repricing and tech expenses.
A: Jim Ryan said deposit repricing is rational in most markets, and technology spend is self-funded with focus on innovation and hiring for front line.
Q: David Schiavirini asked about loan growth drivers and M&A appetite.
A: Tim responded on borrower sentiment and factors driving loan growth, and Jim Ryan said focus is on investing in themselves and not actively pursuing M&A.
Q: Jon Arfstrom asked about strategic portfolio management and wealth strategy.
A: John Moran said strategic portfolio management is ongoing, and Jim Ryan discussed wealth strategy as a talent play with opportunities for growth through hiring and partnership with commercial bank