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Old National Bancorp operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States. It accepts deposit accounts, such as noninterest-bearing demand, interest-bearing checking and negotiable order of withdrawal, savings and money market, and time deposits. The company also offers loans, including home equity lines of credit, residential real estate loans, and consumer loans, as well as loans to commercial clients comprising commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing. In addition, it offers debit and automated teller machine cards, telephone access and online banking, and other electronic and mobile banking services. Further, the company offers private banking, wealth management, trust, investment advisory, brokerage, and foreign currency services; treasury management, merchant, and capital markets services for businesses; and community development lending and equity investment solutions. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.5B | - | $669M | $637M | 7.9% | 33.9% | 24.1% |
| 2024 | $1.9B | - | $539M | $592M | 8.5% | 2.7% | -7.4% |
| 2023 | $1.8B | - | $582M | $478M | 10.5% | 6.3% | 35.9% |
| 2022 | $1.7B | - | $428M | $777M | 8.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,727.71 | 1,836.49 | 1,885.48 | 2,524.41 |
| Pretax Income | 544.73 | 751.30 | 680.44 | 841.39 |
| Tax Provision | 116.45 | 169.31 | 141.25 | 172.14 |
| Net Income | 428.29 | 581.99 | 539.19 | 669.26 |
| Net Income Common Stockholders | 414.17 | 565.86 | 523.05 | 653.12 |
| Interest Expense | 126.27 | 703.67 | 1,070.87 | 1,211.98 |
| Interest Income | 1,454.20 | 2,206.82 | 2,601.65 | 3,269.85 |
| Selling General And Administration | 627.22 | 642.61 | 693.38 | 852.62 |
| Normalized Income | 357.02 | 581.99 | 539.19 | 669.26 |
| Basic EPS | 1.51 | 1.94 | 1.68 | 1.80 |
| Diluted EPS | 1.50 | 1.94 | 1.68 | 1.79 |
| Tax Effect Of Unusual Items | 19.40 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.23 | 0.21 | 0.20 |
| Total Unusual Items | 90.67 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 90.67 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 428.29 | 581.99 | 539.19 | 669.26 |
| Reconciled Depreciation | 62.29 | 62.34 | 65.63 | 123.60 |
| Net Interest Income | 1,327.94 | 1,503.15 | 1,530.78 | 2,057.87 |
| Net Income From Continuing And Discontinued Operation | 428.29 | 581.99 | 539.19 | 669.26 |
| Diluted Average Shares | 276.69 | 291.86 | 311 | 365.46 |
| Basic Average Shares | 275.18 | 290.75 | 309.50 | 363.51 |
| Diluted NI Availto Com Stockholders | 414.17 | 565.86 | 523.05 | 653.12 |
| Preferred Stock Dividends | 14.12 | 16.14 | 16.14 | 16.14 |
| Net Income Including Noncontrolling Interests | 428.29 | 581.99 | 539.19 | 669.26 |
| Net Income Continuous Operations | 428.29 | 581.99 | 539.19 | 669.26 |
| Securities Amortization | 10.96 | 15.37 | 13.33 | 26.12 |
| Gain On Sale Of Security | -0.09 | 15.37 | -0.21 | -0.04 |
| Depreciation Amortization Depletion Income Statement | 25.86 | 24.16 | 27.53 | 78.66 |
| Depreciation And Amortization In Income Statement | 25.86 | 24.16 | 27.53 | 78.66 |
| Amortization | 25.86 | 24.16 | 27.53 | 78.66 |
| Amortization Of Intangibles Income Statement | 25.86 | 24.16 | 27.53 | 78.66 |
| Selling And Marketing Expense | 32.26 | 39.51 | 45.61 | 55.21 |
| General And Administrative Expense | 594.96 | 603.09 | 647.78 | 797.41 |
| Other Gand A | 18.85 | 0 | 0 | 0 |
| Insurance And Claims | 19.33 | 56.73 | 44.68 | 48.39 |
| Salaries And Wages | 575.63 | 546.36 | 603.10 | 749.01 |
| Operating Revenue | 1,727.71 | 1,836.49 | 1,885.48 | 2,524.41 |
| Occupancy And Equipment | 154.88 | 138.84 | 147.02 | 177.52 |
| Professional Expense And Contract Services Expense | 39.05 | 27.34 | 35.29 | 61.90 |
| Other Non Interest Expense | 180.22 | 178 | 177.88 | 288.47 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Old National Bancorpthis co. | ONB | $9.1B | 12.14 | 1.11 | 7.9% | - |
| TeraWulf Inc. | WULF | $9.9B | - | 59.94 | -470.9% | -128.87 |
| FirstCash Holdings, Inc. | FCFS | $9.5B | 27.03 | 4.11 | 14.5% | 16.32 |
| UMB Financial Corporation | UMBF | $9.4B | 10.87 | 1.28 | 9.1% | - |
| Hut 8 Corp. | HUT | $8.0B | - | 5.50 |
| -13.4% |
| -39.84 |
| Valley National Bancorp | VLY | $7.4B | 11.99 | 0.99 | 7.7% | - |
| Glacier Bancorp, Inc. | GBCI | $6.3B | 22.50 | 1.47 | 5.7% | - |
| Essent Group Ltd. | ESNT | $6.0B | 9.27 | 1.06 | 12.0% | 6.75 |
| United Bankshares, Inc. | UBSI | $6.0B | 12.14 | 1.10 | 8.5% | - |
| Peer Median | - | 12.06 | 1.37 | 8.1% | -16.54 | |