Old National Bancorp (ONB) Financials

$23.08 +0.31 (+1.34%)

As of 01:08 PM Eastern

Annual Income Statements for Old National Bancorp

This table shows Old National Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	117	134	96	191	238	226	278	414	566	523
Consolidated Net Income / (Loss)	117	134	96	191	238	226	278	428	582	539
Net Income / (Loss) Continuing Operations	117	134	96	191	238	226	278	428	582	539
Total Pre-Tax Income	163	200	169	209	290	256	339	545	751	680
Total Revenue	597	656	621	733	804	835	811	1,728	1,836	1,885
Net Interest Income / (Expense)	366	403	437	538	604	596	596	1,328	1,503	1,531
Total Interest Income	399	447	495	632	730	663	639	1,454	2,207	2,602
Loans and Leases Interest Income	-	349	389	508	570	516	490	1,178	1,815	2,139
Investment Securities Interest Income	399	98	106	123	159	147	148	274	352	416
Deposits and Money Market Investments Interest Income	-	0.13	0.26	0.63	1.67	0.57	0.59	2.81	40	46
Total Interest Expense	33	44	58	94	126	67	42	126	704	1,071
Deposits Interest Expense	14	17	20	41	69	28	11	49	484	846
Long-Term Debt Interest Expense	17	25	35	46	49	37	31	71	205	219
Federal Funds Purchased and Securities Sold Interest Expense	1.75	2.18	3.24	6.76	8.17	2.15	0.40	5.86	15	6.01
Total Non-Interest Income	231	253	183	195	199	239	214	400	333	355
Trust Fees by Commissions	52	53	58	57	59	58	65	101	108	117
Service Charges on Deposit Accounts	-	42	41	44	45	33	32	73	72	78
Other Service Charges	140	82	59	62	69	103	81	95	98	119
Net Realized & Unrealized Capital Gains on Investments	22	64	9.14	16	1.92	11	4.33	91	15	-0.21
Other Non-Interest Income	16	12	15	16	25	35	33	41	40	41
Provision for Credit Losses	2.92	0.96	3.05	6.97	4.75	43	-30	145	59	111
Total Non-Interest Expense	431	454	449	517	508	537	501	1,038	1,026	1,094
Salaries and Employee Benefits	244	253	247	281	289	294	284	576	546	603
Net Occupancy & Equipment Expense	94	96	92	51	110	113	119	213	219	236
Marketing Expense	10	15	13	16	16	11	13	32	40	46
Property & Liability Insurance Claims	7.50	8.68	9.48	11	6.03	6.72	6.06	19	57	45
Other Operating Expenses	64	69	63	121	68	80	62	161	125	124
Amortization Expense	12	13	12	14	17	33	11	26	24	28
Other Special Charges	-	-	12	23	2.75	-	6.77	11	15	13
Income Tax Expense	46	66	73	18	52	29	61	116	169	141
Preferred Stock Dividends Declared	-	-	-	-	-	0.00	0.00	14	16	16
Basic Earnings per Share	$1.01	$1.05	$0.69	$1.23	$1.39	$1.37	$1.68	$1.51	$1.95	$1.69
Weighted Average Basic Shares Outstanding	115.73M	127.71M	137.82M	155.68M	171.91M	165.51M	165.18M	275.18M	290.75M	309.50M
Diluted Earnings per Share	$1.00	$1.05	$0.69	$1.22	$1.38	$1.36	$1.67	$1.50	$1.94	$1.68
Weighted Average Diluted Shares Outstanding	116.26M	128.30M	138.51M	156.54M	172.69M	166.18M	165.93M	276.69M	291.86M	311.00M
Weighted Average Basic & Diluted Shares Outstanding	115.60M	127.90M	138.70M	155.10M	169.05M	165.38M	165.85M	292.92M	292.70M	318.98M
Cash Dividends to Common per Share	$0.48	$0.52	$0.52	$0.52	$0.52	$0.56	$0.56	$0.56	$0.56	$0.56

This table shows Old National Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	136	197	143	151	144	128	116	117	140	150	141
Consolidated Net Income / (Loss)	140	201	147	155	148	132	120	121	144	154	145
Net Income / (Loss) Continuing Operations	140	201	147	155	148	132	120	121	144	154	145
Total Pre-Tax Income	179	262	188	202	192	169	153	156	185	186	182
Total Revenue	457	556	452	464	456	465	434	476	486	490	481
Net Interest Income / (Expense)	377	391	381	382	375	364	356	388	392	394	388
Total Interest Income	407	458	496	545	577	590	596	664	680	662	630
Loans and Leases Interest Income	331	377	410	450	474	481	487	546	561	545	516
Investment Securities Interest Income	74	81	82	86	89	95	99	107	107	104	106
Deposits and Money Market Investments Interest Income	0.94	-0.26	3.10	8.97	13	14	9.99	11	12	13	8.82
Total Interest Expense	30	67	114	163	201	225	240	275	288	268	243
Deposits Interest Expense	11	30	63	101	147	173	185	216	230	215	190
Long-Term Debt Interest Expense	18	32	46	55	52	51	52	57	58	52	50
Federal Funds Purchased and Securities Sold Interest Expense	0.83	4.86	5.62	6.56	1.62	0.92	1.88	2.63	0.90	0.61	2.18
Total Non-Interest Income	80	165	71	82	81	100	78	87	94	96	94
Trust Fees by Commissions	25	26	27	27	27	28	28	29	29	30	30
Service Charges on Deposit Accounts	20	18	17	18	19	19	18	19	20	21	21
Other Service Charges	23	22	22	26	26	24	25	28	32	34	33
Net Realized & Unrealized Capital Gains on Investments	-0.17	91	-5.22	0.02	-0.24	21	-0.02	0.00	-0.08	-0.12	-0.08
Other Non-Interest Income	12	8.49	10	11	9.63	9.19	6.33	10	13	12	9.89
Provision for Credit Losses	15	11	13	15	19	12	19	36	28	27	31
Total Non-Interest Expense	262	283	251	247	245	284	262	283	272	277	268
Salaries and Employee Benefits	147	142	137	136	132	142	150	159	147	147	148
Net Occupancy & Equipment Expense	54	54	55	54	55	56	56	59	60	60	60
Marketing Expense	10	8.51	9.42	9.83	9.45	11	11	11	11	13	12
Property & Liability Insurance Claims	6.25	5.81	10	9.62	9.00	28	11	9.68	12	12	9.70
Other Operating Expenses	35	60	30	29	31	35	27	33	31	33	28
Amortization Expense	7.09	6.79	6.19	6.06	6.04	5.87	5.46	7.43	7.41	7.24	6.83
Other Special Charges	2.66	5.26	2.76	2.76	2.64	7.20	2.75	2.75	3.28	4.56	3.42
Income Tax Expense	39	61	41	47	44	36	32	35	41	32	37
Preferred Stock Dividends Declared	4.03	4.03	4.03	4.03	4.03	4.03	4.03	4.03	4.03	4.03	4.03
Basic Earnings per Share	$0.47	$0.79	$0.49	$0.52	$0.49	$0.45	$0.40	$0.37	$0.44	$0.48	$0.45
Weighted Average Basic Shares Outstanding	290.96M	275.18M	291.09M	290.56M	290.65M	290.75M	290.98M	315.59M	315.62M	309.50M	315.93M
Diluted Earnings per Share	$0.47	$0.78	$0.49	$0.52	$0.49	$0.44	$0.40	$0.37	$0.44	$0.47	$0.44
Weighted Average Diluted Shares Outstanding	292.48M	276.69M	292.76M	291.27M	291.72M	291.86M	292.21M	316.46M	317.33M	311.00M	321.02M
Weighted Average Basic & Diluted Shares Outstanding	292.89M	292.92M	292.60M	292.59M	292.62M	292.70M	318.97M	318.97M	318.97M	318.98M	319.75M
Cash Dividends to Common per Share	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14

This table details how cash moves in and out of Old National Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-20	36	35	27	-41	313	232	-94	447	53
Net Cash From Operating Activities	124	25	250	234	234	220	330	814	516	622
Net Cash From Continuing Operating Activities	124	25	250	234	234	220	330	814	516	622
Net Income / (Loss) Continuing Operations	117	134	96	191	238	226	278	428	582	539
Consolidated Net Income / (Loss)	117	134	96	191	238	226	278	428	582	539
Provision For Loan Losses	2.92	0.96	3.05	-	4.75	43	-30	145	59	111
Depreciation Expense	14	17	22	24	27	29	27	36	38	38
Amortization Expense	30	31	39	52	39	52	34	56	47	51
Non-Cash Adjustments to Reconcile Net Income	-27	-186	24	-41	-76	-40	-1.05	-85	-29	-26
Changes in Operating Assets and Liabilities, net	-13	28	66	9.17	1.65	-90	22	234	-181	-90
Net Cash From Investing Activities	-501	-641	-536	-271	-525	-2,141	-1,432	-1,686	-1,819	-1,372
Net Cash From Continuing Investing Activities	-501	-641	-536	-271	-525	-2,141	-1,432	-1,686	-1,819	-1,372
Purchase of Property, Leasehold Improvements and Equipment	-86	-225	-37	-33	-37	-31	-49	-38	-38	-30
Purchase of Investment Securities	-1,585	-2,070	-1,368	-1,000	-2,224	-4,458	-3,127	-4,835	-3,888	-3,078
Sale of Property, Leasehold Improvements and Equipment	7.71	6.33	19	7.34	3.77	7.83	29	4.48	3.51	1.59
Divestitures	-	92	-	61	-	0.00	0.00	1,913	0.00	178
Sale and/or Maturity of Investments	1,159	1,545	850	694	1,732	2,339	1,714	1,561	2,104	1,557
Other Investing Activities, net	3.55	10	-	-	-	0.00	0.00	-291	0.00	0.00
Net Cash From Financing Activities	357	652	321	64	251	2,235	1,334	777	1,749	803
Net Cash From Continuing Financing Activities	357	652	321	64	251	2,235	1,334	777	1,749	803
Net Change in Deposits	89	490	85	262	203	2,484	1,532	-436	2,234	1,028
Issuance of Debt	575	925	1,205	995	575	950	50	2,900	2,700	1,400
Issuance of Common Equity	0.39	0.39	0.40	0.50	0.57	0.58	0.58	0.81	1.08	1.03
Repayment of Debt	-229	-595	-968	-1,003	-382	-675	-112	-1,925	-2,381	-1,410
Repurchase of Common Equity	-89	-2.04	-2.76	-1.81	-102	-82	-3.73	-71	-44	-8.88
Payment of Dividends	-56	-68	-73	-82	-89	-93	-93	-178	-180	-191
Other Financing Activities, Net	66	-99	74	-106	46	-349	-40	487	-581	-16

This table details how cash moves in and out of Old National Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	3.65	-73	386	84	466	-488	-236	294	-41	36	12
Net Cash From Operating Activities	248	127	54	161	229	73	104	161	121	236	108
Net Cash From Continuing Operating Activities	248	127	54	161	229	73	104	161	121	236	108
Net Income / (Loss) Continuing Operations	140	201	147	155	148	132	120	121	144	154	145
Consolidated Net Income / (Loss)	140	201	147	155	148	132	120	121	144	154	145
Provision For Loan Losses	15	11	13	15	19	12	19	36	28	27	31
Depreciation Expense	9.15	9.54	9.12	9.27	9.78	10	9.68	9.27	9.50	9.66	9.55
Amortization Expense	15	16	13	12	10	12	9.34	13	14	15	13
Non-Cash Adjustments to Reconcile Net Income	-7.97	-66	12	-15	2.38	-28	-3.05	-22	-16	16	-3.04
Changes in Operating Assets and Liabilities, net	77	-45	-140	-15	39	-65	-51	4.13	-58	14	-87
Net Cash From Investing Activities	-600	-807	-640	-651	-270	-257	-766	-191	-298	-117	-271
Net Cash From Continuing Investing Activities	-600	-807	-640	-651	-270	-257	-766	-191	-298	-117	-271
Purchase of Property, Leasehold Improvements and Equipment	-11	-9.16	-10	-6.95	-11	-10	-8.48	-9.37	-5.67	-6.76	-5.80
Purchase of Investment Securities	-1,111	-708	-875	-1,130	-1,013	-869	-1,127	-890	-593	-468	-682
Sale of Property, Leasehold Improvements and Equipment	0.45	1.28	1.41	0.96	1.14	-	0.00	-	1.59	-	1.19
Sale and/or Maturity of Investments	522	199	244	485	753	622	369	531	299	357	416
Net Cash From Financing Activities	355	607	972	574	507	-304	426	323	135	-82	174
Net Cash From Continuing Financing Activities	355	607	972	574	507	-304	426	323	135	-82	174
Net Change in Deposits	515	-671	-83	1,314	1,021	-17	464	-261	847	-22	211
Issuance of Debt	100	1,450	1,900	700	-150	250	750	950	-300	-	301
Issuance of Common Equity	0.23	0.25	0.26	0.27	0.26	0.28	0.27	0.27	0.25	0.25	0.25
Repayment of Debt	-476	-403	-754	-830	-305	-491	-775	-483	-252	99	-276
Repurchase of Common Equity	-0.53	-0.25	-44	-0.11	-0.45	-0.04	-7.18	-1.28	-0.29	-0.14	-14
Payment of Dividends	-45	-45	-45	-45	-45	-45	-45	-49	-49	-49	-49
Other Financing Activities, Net	261	275	-2.32	-564	-14	-0.53	39	166	-111	-111	-0.22
Cash Interest Paid	31	-	105	149	197	-	242	271	285	-	258
Cash Income Taxes Paid	15	-	1.18	86	71	-	2.43	36	16	-	2.17

This table presents Old National Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	11,992	14,860	17,518	19,728	20,412	22,961	24,454	46,763	49,090	53,552
Cash and Due from Banks	91	209	223	284	235	268	173	453	431	394
Interest Bearing Deposits at Other Banks	129	46	68	33	42	322	649	275	744	834
Trading Account Securities	3,294	3,547	3,886	4,650	5,439	6,036	7,431	9,927	6,825	7,585
Loans and Leases, Net of Allowance	6,896	8,961	11,068	12,188	-55	13,655	13,495	30,820	32,684	35,893
Loans and Leases	6,948	9,011	11,118	12,244	-	13,786	13,602	31,124	32,992	36,286
Allowance for Loan and Lease Losses	52	50	50	55	55	131	107	304	308	393
Premises and Equipment, Net	197	430	458	486	491	464	476	557	565	589
Goodwill	585	655	828	1,036	1,037	1,037	1,037	1,999	1,999	2,175
Intangible Assets	35	38	53	77	60	46	35	126	102	121
Other Assets	740	858	917	973	13,163	1,132	1,158	2,605	5,739	5,961
Total Liabilities & Shareholders' Equity	11,992	14,860	17,518	19,728	20,412	22,961	24,454	46,763	49,090	53,552
Total Liabilities	10,500	13,046	15,364	17,039	17,559	19,988	21,442	41,635	43,527	47,212
Non-Interest Bearing Deposits	2,489	3,016	3,681	3,965	4,042	5,634	6,303	11,931	9,664	9,399
Interest Bearing Deposits	5,912	7,727	8,925	10,385	10,511	11,404	12,266	23,070	27,571	31,425
Federal Funds Purchased and Securities Sold	291	213	335	270	350	1.17	0.28	581	0.39	0.39
Short-Term Debt	606	586	634	610	328	431	689	433	1,050	959
Long-Term Debt	1,023	1,353	1,610	1,613	2,067	2,244	1,886	4,572	4,281	4,453
Other Long-Term Liabilities	179	150	180	195	261	274	297	1,048	961	977
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,491	1,814	2,154	2,690	2,852	2,973	3,012	5,129	5,563	6,340
Total Preferred & Common Equity	1,491	1,814	2,154	2,690	2,852	2,973	3,012	5,129	5,563	6,340
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	231	231	231
Total Common Equity	1,491	1,814	2,154	2,690	2,852	2,973	3,012	4,898	5,332	6,110
Common Stock	1,202	1,483	1,792	2,207	2,114	2,041	2,046	4,467	4,453	4,890
Retained Earnings	324	390	413	528	682	784	968	1,217	1,619	1,966
Accumulated Other Comprehensive Income / (Loss)	-35	-59	-50	-45	56	148	-2.38	-786	-739	-746

This table presents Old National Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	46,216	47,843	48,497	49,059	49,535	53,120	53,602	53,878
Cash and Due from Banks	467	387	473	381	351	429	498	486
Interest Bearing Deposits at Other Banks	335	727	725	1,282	589	804	693	754
Trading Account Securities	10,011	6,759	6,572	6,485	6,896	10,244	10,553	10,829
Loans and Leases, Net of Allowance	30,227	31,524	32,132	32,274	33,304	35,784	36,020	36,012
Loans and Leases	30,529	31,822	32,432	32,578	33,623	36,151	36,401	36,414
Allowance for Loan and Lease Losses	302	299	301	304	320	366	381	402
Premises and Equipment, Net	588	567	564	566	564	602	600	585
Goodwill	2,003	1,999	1,999	1,999	1,999	2,171	2,177	2,175
Intangible Assets	133	120	114	108	97	135	128	114
Other Assets	2,432	5,750	5,803	5,843	5,736	2,951	2,933	2,923
Total Liabilities & Shareholders' Equity	46,216	47,843	48,497	49,059	49,535	53,120	53,602	53,878
Total Liabilities	41,272	42,565	43,205	43,820	43,940	47,045	47,235	47,343
Non-Interest Bearing Deposits	12,400	10,995	10,533	10,091	9,258	9,336	9,429	9,186
Interest Bearing Deposits	23,654	23,923	25,698	27,161	28,442	30,663	31,416	31,848
Federal Funds Purchased and Securities Sold	301	619	136	0.92	50	250	135	0.17
Short-Term Debt	438	1,140	1,127	1,143	1,088	241	245	290
Long-Term Debt	3,526	4,982	4,771	4,413	4,193	5,594	5,069	5,157
Other Long-Term Liabilities	954	907	939	1,011	909	960	940	862
Total Equity & Noncontrolling Interests	4,943	5,277	5,292	5,240	5,595	6,075	6,367	6,535
Total Preferred & Common Equity	4,943	5,277	5,292	5,240	5,595	6,075	6,367	6,535
Preferred Stock	231	231	231	231	231	231	231	231
Total Common Equity	4,713	5,047	5,062	5,009	5,365	5,845	6,137	6,304
Common Stock	4,459	4,437	4,442	4,447	4,451	4,870	4,880	4,891
Retained Earnings	1,062	1,319	1,429	1,531	1,694	1,766	1,861	2,061
Accumulated Other Comprehensive Income / (Loss)	-808	-708	-809	-969	-780	-791	-604	-649

This table displays calculated financial ratios and metrics derived from Old National Bancorp's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.28%	9.85%	-5.34%	18.11%	9.64%	3.95%	-2.96%	113.14%	6.30%	2.67%
EBITDA Growth	15.92%	19.68%	-7.43%	23.73%	25.23%	-5.56%	19.16%	58.95%	31.37%	-8.03%
EBIT Growth	14.74%	23.04%	-15.85%	23.73%	39.14%	-11.99%	32.60%	60.75%	37.92%	-9.43%
NOPAT Growth	12.59%	15.03%	-28.70%	99.35%	24.83%	-4.95%	22.58%	54.32%	35.89%	-7.35%
Net Income Growth	12.59%	15.03%	-28.70%	99.35%	24.83%	-4.95%	22.58%	54.32%	35.89%	-7.35%
EPS Growth	5.26%	5.00%	-34.29%	76.81%	13.11%	-1.45%	22.79%	-10.18%	29.33%	-13.40%
Operating Cash Flow Growth	-37.92%	-79.95%	908.11%	-6.27%	-0.28%	-5.96%	50.30%	146.51%	-36.60%	20.52%
Free Cash Flow Firm Growth	89.56%	-634.39%	-9.91%	40.76%	70.65%	-83.43%	293.63%	-1,316.23%	95.67%	-78.77%
Invested Capital Growth	6.29%	20.29%	17.16%	11.73%	6.79%	7.65%	-1.08%	81.38%	7.50%	7.87%
Revenue Q/Q Growth	1.02%	4.15%	-1.47%	5.93%	-0.96%	2.83%	-2.57%	26.12%	-4.75%	1.37%
EBITDA Q/Q Growth	1.97%	2.78%	-5.67%	6.80%	3.74%	7.95%	-4.47%	47.03%	-10.41%	2.71%
EBIT Q/Q Growth	2.54%	2.34%	-13.47%	16.02%	3.53%	7.48%	-2.91%	55.23%	-11.05%	2.63%
NOPAT Q/Q Growth	2.40%	1.11%	-35.18%	52.86%	0.71%	12.38%	-6.07%	50.94%	-10.50%	4.13%
Net Income Q/Q Growth	2.40%	1.11%	-35.18%	52.86%	0.71%	12.38%	-6.07%	50.94%	-10.50%	4.13%
EPS Q/Q Growth	2.04%	-1.87%	-36.70%	54.43%	0.73%	12.40%	-5.65%	41.51%	-14.91%	1.82%
Operating Cash Flow Q/Q Growth	-6.18%	-80.02%	71.91%	-2.23%	21.19%	12.31%	-14.37%	8.15%	-9.51%	35.47%
Free Cash Flow Firm Q/Q Growth	62.61%	5.83%	-353.91%	-47.02%	88.66%	-759.60%	-8.22%	-34.97%	85.59%	13.57%
Invested Capital Q/Q Growth	1.64%	0.56%	9.91%	13.03%	-3.26%	0.04%	0.27%	13.77%	0.92%	0.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	34.75%	37.86%	37.02%	38.78%	44.29%	40.24%	49.41%	36.85%	45.54%	40.80%
EBIT Margin	27.30%	30.57%	27.18%	28.47%	36.13%	30.59%	41.80%	31.53%	40.91%	36.09%
Profit (Net Income) Margin	19.56%	20.48%	15.43%	26.04%	29.64%	27.10%	34.24%	24.79%	31.69%	28.60%
Tax Burden Percent	71.65%	66.99%	56.75%	91.45%	82.04%	88.59%	81.90%	78.62%	77.46%	79.24%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	28.35%	33.01%	43.25%	8.55%	17.96%	11.41%	18.10%	21.38%	22.54%	20.76%
Return on Invested Capital (ROIC)	3.85%	3.91%	2.35%	4.10%	4.69%	4.16%	4.94%	5.45%	5.54%	4.76%
ROIC Less NNEP Spread (ROIC-NNEP)	3.85%	3.91%	2.35%	4.10%	4.69%	4.16%	4.94%	5.45%	5.54%	4.76%
Return on Net Nonoperating Assets (RNNOA)	4.04%	4.22%	2.48%	3.78%	3.91%	3.62%	4.33%	5.07%	5.35%	4.30%
Return on Equity (ROE)	7.89%	8.12%	4.82%	7.88%	8.60%	7.77%	9.28%	10.52%	10.89%	9.06%
Cash Return on Invested Capital (CROIC)	-2.24%	-14.52%	-13.45%	-6.98%	-1.88%	-3.21%	6.03%	-52.39%	-1.70%	-2.81%
Operating Return on Assets (OROA)	1.38%	1.49%	1.04%	1.12%	1.45%	1.18%	1.43%	1.53%	1.57%	1.33%
Return on Assets (ROA)	0.99%	1.00%	0.59%	1.02%	1.19%	1.04%	1.17%	1.20%	1.21%	1.05%
Return on Common Equity (ROCE)	7.89%	8.12%	4.82%	7.88%	8.60%	7.77%	9.28%	10.22%	10.42%	8.71%
Return on Equity Simple (ROE_SIMPLE)	7.83%	7.40%	4.44%	7.10%	8.35%	7.62%	9.21%	8.35%	10.46%	8.50%
Net Operating Profit after Tax (NOPAT)	117	134	96	191	238	226	278	428	582	539
NOPAT Margin	19.56%	20.48%	15.43%	26.04%	29.64%	27.10%	34.24%	24.79%	31.69%	28.60%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	58.32%	55.51%	56.77%	47.50%	51.66%	49.98%	51.24%	47.51%	43.84%	46.91%
Operating Expenses to Revenue	72.21%	69.28%	72.33%	70.58%	63.28%	64.28%	61.85%	60.09%	55.88%	58.04%
Earnings before Interest and Taxes (EBIT)	163	200	169	209	290	256	339	545	751	680
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	207	248	230	284	356	336	401	637	836	769
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.79	1.06	0.89	0.72	0.93	0.82	0.91	1.00	0.90	1.13
Price to Tangible Book Value (P/TBV)	1.34	1.71	1.50	1.24	1.52	1.29	1.42	1.77	1.48	1.82
Price to Revenue (P/Rev)	1.96	2.93	3.08	2.66	3.31	2.91	3.40	2.85	2.61	3.67
Price to Earnings (P/E)	10.03	14.30	19.96	10.22	11.18	10.74	9.92	11.88	8.47	13.24
Dividend Yield	4.69%	3.65%	3.69%	4.06%	3.32%	3.81%	3.37%	3.33%	3.42%	2.58%
Earnings Yield	9.97%	6.99%	5.01%	9.79%	8.94%	9.31%	10.08%	8.42%	11.80%	7.56%
Enterprise Value to Invested Capital (EV/IC)	0.83	0.96	0.88	0.78	0.91	0.80	0.81	0.93	0.84	0.96
Enterprise Value to Revenue (EV/Rev)	4.32	5.50	6.23	5.26	5.95	5.41	5.56	5.46	5.00	6.01
Enterprise Value to EBITDA (EV/EBITDA)	12.44	14.52	16.82	13.57	13.43	13.44	11.25	14.81	10.98	14.74
Enterprise Value to EBIT (EV/EBIT)	15.84	17.98	22.90	18.48	16.47	17.68	13.30	17.31	12.22	16.66
Enterprise Value to NOPAT (EV/NOPAT)	22.11	26.84	40.36	20.21	20.07	19.96	16.24	22.01	15.77	21.03
Enterprise Value to Operating Cash Flow (EV/OCF)	20.85	145.28	15.45	16.45	20.45	20.55	13.64	11.58	17.78	18.22
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	13.31	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.09	1.07	1.04	0.83	0.84	0.90	0.85	0.98	0.96	0.85
Long-Term Debt to Equity	0.69	0.75	0.75	0.60	0.72	0.76	0.63	0.89	0.77	0.70
Financial Leverage	1.05	1.08	1.05	0.92	0.83	0.87	0.88	0.93	0.97	0.90
Leverage Ratio	7.99	8.12	8.16	7.69	7.24	7.45	7.92	8.75	8.97	8.62
Compound Leverage Factor	7.99	8.12	8.16	7.69	7.24	7.45	7.92	8.75	8.97	8.62
Debt to Total Capital	52.21%	51.66%	51.01%	45.26%	45.63%	47.37%	46.09%	49.39%	48.93%	46.05%
Short-Term Debt to Total Capital	19.41%	15.61%	14.41%	12.42%	6.25%	7.63%	12.33%	4.27%	9.64%	8.16%
Long-Term Debt to Total Capital	32.80%	36.05%	36.60%	32.84%	39.39%	39.73%	33.76%	45.12%	39.30%	37.89%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.27%	2.12%	1.96%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	47.79%	48.34%	48.99%	54.74%	54.37%	52.63%	53.91%	48.34%	48.95%	51.99%
Debt to EBITDA	7.86	7.81	9.76	7.82	6.73	7.96	6.43	7.86	6.37	7.03
Net Debt to EBITDA	6.80	6.78	8.50	6.71	5.95	6.20	4.38	6.72	4.97	5.44
Long-Term Debt to EBITDA	4.94	5.45	7.01	5.68	5.81	6.68	4.71	7.18	5.12	5.79
Debt to NOPAT	13.96	14.44	23.43	11.65	10.05	11.82	9.28	11.69	9.16	10.04
Net Debt to NOPAT	12.07	12.54	20.40	9.99	8.89	9.21	6.32	9.98	7.14	7.76
Long-Term Debt to NOPAT	8.77	10.08	16.81	8.46	8.68	9.91	6.80	10.68	7.36	8.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.83%	4.31%	3.87%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-68	-499	-548	-325	-95	-175	339	-4,118	-178	-319
Operating Cash Flow to CapEx	158.77%	11.36%	1,336.56%	899.83%	694.59%	953.87%	1,698.79%	2,436.87%	1,481.10%	2,169.45%
Free Cash Flow to Firm to Interest Expense	-2.05	-11.23	-9.43	-3.44	-0.76	-2.60	8.01	-32.61	-0.25	-0.30
Operating Cash Flow to Interest Expense	3.74	0.56	4.30	2.48	1.85	3.27	7.82	6.45	0.73	0.58
Operating Cash Flow Less CapEx to Interest Expense	1.39	-4.36	3.98	2.21	1.59	2.93	7.36	6.19	0.68	0.55
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.04	0.04	0.04	0.04	0.03	0.05	0.04	0.04
Fixed Asset Turnover	3.59	2.09	1.40	1.55	1.65	1.75	1.72	3.34	3.27	3.27
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,120	3,754	4,398	4,913	5,247	5,648	5,587	10,133	10,894	11,752
Invested Capital Turnover	0.20	0.19	0.15	0.16	0.16	0.15	0.14	0.22	0.17	0.17
Increase / (Decrease) in Invested Capital	185	633	644	516	334	401	-61	4,546	760	858
Enterprise Value (EV)	2,580	3,604	3,863	3,856	4,781	4,518	4,507	9,427	9,181	11,337
Market Capitalization	1,171	1,921	1,910	1,949	2,663	2,432	2,754	4,920	4,794	6,923
Book Value per Share	$13.02	$13.44	$15.90	$17.65	$16.78	$17.98	$18.17	$16.72	$18.22	$19.15
Tangible Book Value per Share	$7.61	$8.31	$9.40	$10.35	$10.32	$11.43	$11.70	$9.47	$11.04	$11.96
Total Capital	3,120	3,754	4,398	4,913	5,247	5,648	5,587	10,133	10,894	11,752
Total Debt	1,629	1,939	2,243	2,224	2,394	2,675	2,575	5,005	5,331	5,411
Total Long-Term Debt	1,023	1,353	1,610	1,613	2,067	2,244	1,886	4,572	4,281	4,453
Net Debt	1,409	1,684	1,953	1,906	2,118	2,086	1,753	4,276	4,156	4,183
Capital Expenditures (CapEx)	78	218	19	26	34	23	19	33	35	29
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	1,629	1,939	2,243	2,224	2,394	2,675	2,575	5,005	5,331	5,411
Total Depreciation and Amortization (D&A)	44	48	61	76	66	81	62	92	85	89
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.39	$1.37	$1.68	$1.51	$0.00	$1.69
Adjusted Weighted Average Basic Shares Outstanding	115.73M	127.71M	137.82M	155.68M	171.91M	165.51M	165.18M	275.18M	0.00	309.50M
Adjusted Diluted Earnings per Share	$1.00	$1.05	$0.69	$1.22	$1.38	$1.36	$1.67	$1.50	$0.00	$1.68
Adjusted Weighted Average Diluted Shares Outstanding	116.26M	128.30M	138.51M	156.54M	172.69M	166.18M	165.93M	276.69M	0.00	311.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.39	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	114.31M	135.20M	152.06M	175.16M	169.05M	165.38M	165.85M	292.92M	0.00	318.98M
Normalized Net Operating Profit after Tax (NOPAT)	117	134	102	212	240	226	283	437	594	550
Normalized NOPAT Margin	19.56%	20.48%	16.50%	28.90%	29.92%	27.10%	34.92%	25.29%	32.34%	29.16%
Pre Tax Income Margin	27.30%	30.57%	27.18%	28.47%	36.13%	30.59%	41.80%	31.53%	40.91%	36.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.93	4.51	2.90	2.21	2.30	3.80	8.02	4.31	1.07	0.64
NOPAT to Interest Expense	3.53	3.02	1.65	2.02	1.89	3.37	6.57	3.39	0.83	0.50
EBIT Less CapEx to Interest Expense	2.57	-0.40	2.58	1.93	2.04	3.46	7.56	4.05	1.02	0.61
NOPAT Less CapEx to Interest Expense	1.17	-1.89	1.32	1.74	1.62	3.03	6.11	3.13	0.78	0.48
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	47.60%	50.30%	75.85%	43.05%	37.56%	41.05%	33.45%	41.47%	30.93%	35.45%
Augmented Payout Ratio	123.59%	51.82%	78.73%	44.00%	80.56%	77.43%	34.79%	58.09%	38.55%	37.10%

This table displays calculated financial ratios and metrics derived from Old National Bancorp's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	121.74%	180.50%	56.99%	8.72%	-0.21%	-16.48%	-4.02%	2.56%	6.54%	5.48%	10.94%
EBITDA Growth	93.99%	242.34%	1,283.30%	36.95%	4.48%	-33.78%	-18.08%	-20.40%	-1.80%	10.65%	18.75%
EBIT Growth	100.21%	283.99%	617.96%	44.64%	7.34%	-35.63%	-18.75%	-22.70%	-3.69%	10.34%	18.85%
NOPAT Growth	95.35%	257.26%	676.94%	34.83%	5.51%	-34.00%	-17.95%	-21.81%	-2.76%	16.15%	20.26%
Net Income Growth	95.35%	257.26%	631.43%	34.83%	5.51%	-34.00%	-17.95%	-21.81%	-2.76%	16.15%	20.26%
EPS Growth	9.30%	129.41%	476.92%	36.84%	4.26%	-43.59%	-18.37%	-28.85%	-10.20%	6.82%	10.00%
Operating Cash Flow Growth	149.73%	93.46%	-66.67%	-42.03%	-7.92%	-42.71%	94.14%	-0.03%	-46.98%	223.72%	3.82%
Free Cash Flow Firm Growth	-2,300.18%	-3,806.36%	58.66%	58.57%	45.55%	85.55%	138.41%	61.94%	57.31%	-12.14%	-249.40%
Invested Capital Growth	59.85%	81.38%	19.01%	18.27%	21.19%	7.50%	-4.59%	6.44%	8.21%	7.87%	10.16%
Revenue Q/Q Growth	7.12%	21.70%	-18.69%	2.57%	-1.68%	1.86%	-6.57%	9.61%	2.14%	0.84%	-1.74%
EBITDA Q/Q Growth	24.22%	41.61%	-27.11%	6.81%	-5.23%	-10.25%	-9.82%	3.78%	16.91%	1.13%	-3.22%
EBIT Q/Q Growth	27.93%	46.36%	-28.25%	7.66%	-5.06%	-12.23%	-9.43%	2.43%	18.28%	0.55%	-2.44%
NOPAT Q/Q Growth	21.89%	43.23%	-26.97%	5.75%	-4.62%	-10.41%	-9.21%	0.79%	18.62%	7.00%	-5.99%
Net Income Q/Q Growth	21.89%	43.23%	-26.97%	5.75%	-4.62%	-10.41%	-9.21%	0.79%	18.62%	7.00%	-5.99%
EPS Q/Q Growth	23.68%	65.96%	-37.18%	6.12%	-5.77%	-10.20%	-9.09%	-7.50%	18.92%	6.82%	-6.38%
Operating Cash Flow Q/Q Growth	-10.55%	-48.84%	-57.76%	199.93%	42.09%	-68.17%	43.12%	54.44%	-24.64%	94.33%	-54.10%
Free Cash Flow Firm Q/Q Growth	15.88%	-36.02%	61.47%	6.03%	-10.57%	63.91%	202.44%	-193.13%	-24.02%	5.21%	-36.47%
Invested Capital Q/Q Growth	-5.86%	13.77%	12.49%	-1.83%	-3.53%	0.92%	-0.16%	9.51%	-1.92%	0.60%	1.96%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	44.46%	51.73%	46.37%	48.29%	46.54%	41.01%	39.58%	37.48%	42.90%	43.02%	42.37%
EBIT Margin	39.18%	47.12%	41.58%	43.65%	42.14%	36.31%	35.20%	32.90%	38.09%	37.98%	37.71%
Profit (Net Income) Margin	30.67%	36.10%	32.42%	33.43%	32.43%	28.52%	27.72%	25.48%	29.60%	31.41%	30.05%
Tax Burden Percent	78.28%	76.60%	77.97%	76.59%	76.95%	78.54%	78.73%	77.47%	77.70%	82.68%	79.67%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	21.72%	23.40%	22.03%	23.41%	23.05%	21.46%	21.27%	22.53%	22.30%	17.32%	20.33%
Return on Invested Capital (ROIC)	5.80%	7.93%	5.85%	6.24%	6.35%	4.98%	4.53%	4.04%	4.90%	5.23%	5.08%
ROIC Less NNEP Spread (ROIC-NNEP)	5.80%	7.93%	5.85%	6.24%	6.35%	4.98%	4.53%	4.04%	4.90%	5.23%	5.08%
Return on Net Nonoperating Assets (RNNOA)	4.73%	7.39%	5.82%	6.19%	5.93%	4.82%	4.75%	4.17%	4.59%	4.72%	4.49%
Return on Equity (ROE)	10.53%	15.32%	11.67%	12.44%	12.28%	9.80%	9.27%	8.21%	9.49%	9.95%	9.58%
Cash Return on Invested Capital (CROIC)	-42.15%	-52.39%	-11.62%	-10.52%	-12.56%	-1.70%	9.68%	-1.72%	-3.28%	-2.81%	-4.74%
Operating Return on Assets (OROA)	1.53%	2.29%	1.68%	1.79%	1.71%	1.39%	1.31%	1.18%	1.38%	1.40%	1.41%
Return on Assets (ROA)	1.20%	1.75%	1.31%	1.37%	1.31%	1.09%	1.04%	0.92%	1.07%	1.15%	1.12%
Return on Common Equity (ROCE)	10.23%	14.89%	11.16%	11.88%	11.72%	9.38%	8.88%	7.87%	9.11%	9.56%	9.21%
Return on Equity Simple (ROE_SIMPLE)	5.74%	0.00%	11.42%	12.14%	12.41%	0.00%	9.93%	8.59%	8.13%	0.00%	8.62%
Net Operating Profit after Tax (NOPAT)	140	201	147	155	148	132	120	121	144	154	145
NOPAT Margin	30.67%	36.10%	32.42%	33.43%	32.43%	28.52%	27.72%	25.48%	29.60%	31.41%	30.05%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	46.30%	36.86%	44.60%	43.02%	42.91%	44.83%	49.81%	48.29%	45.05%	44.85%	45.74%
Operating Expenses to Revenue	57.43%	50.83%	55.45%	53.17%	53.68%	61.19%	60.44%	59.49%	56.04%	56.50%	55.76%
Earnings before Interest and Taxes (EBIT)	179	262	188	202	192	169	153	156	185	186	182
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	203	288	210	224	212	191	172	178	208	211	204
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.96	1.00	0.80	0.78	0.82	0.90	0.94	0.94	0.89	1.13	1.07
Price to Tangible Book Value (P/TBV)	1.76	1.77	1.38	1.33	1.42	1.48	1.55	1.55	1.43	1.82	1.68
Price to Revenue (P/Rev)	3.31	2.85	2.13	2.04	2.13	2.61	2.78	3.00	2.94	3.67	3.50
Price to Earnings (P/E)	16.57	11.88	6.88	6.28	6.49	8.47	9.36	10.84	10.89	13.24	12.35
Dividend Yield	3.62%	3.33%	4.07%	4.16%	3.98%	3.42%	3.24%	3.26%	3.00%	2.58%	2.64%
Earnings Yield	6.04%	8.42%	14.54%	15.92%	15.42%	11.80%	10.68%	9.22%	9.18%	7.56%	8.10%
Enterprise Value to Invested Capital (EV/IC)	0.89	0.93	0.81	0.79	0.76	0.84	0.88	0.87	0.84	0.96	0.93
Enterprise Value to Revenue (EV/Rev)	5.79	5.46	4.90	4.60	4.27	5.00	5.29	5.64	5.28	6.01	5.79
Enterprise Value to EBITDA (EV/EBITDA)	18.30	14.81	10.73	9.59	8.82	10.98	12.05	13.70	13.10	14.74	13.97
Enterprise Value to EBIT (EV/EBIT)	22.59	17.31	12.05	10.66	9.75	12.22	13.44	15.39	14.80	16.66	15.79
Enterprise Value to NOPAT (EV/NOPAT)	27.93	22.01	15.39	13.80	12.66	15.77	17.32	19.77	18.95	21.03	19.87
Enterprise Value to Operating Cash Flow (EV/OCF)	10.53	11.58	13.11	15.02	14.43	17.78	16.98	18.20	21.37	18.22	17.88
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	8.92	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.80	0.98	1.16	1.11	1.06	0.96	0.94	0.96	0.83	0.85	0.83
Long-Term Debt to Equity	0.71	0.89	0.94	0.90	0.84	0.77	0.75	0.92	0.80	0.70	0.79
Financial Leverage	0.81	0.93	1.00	0.99	0.93	0.97	1.05	1.03	0.94	0.90	0.88
Leverage Ratio	8.80	8.75	8.91	9.09	9.36	8.97	8.96	8.94	8.84	8.62	8.53
Compound Leverage Factor	8.80	8.75	8.91	9.09	9.36	8.97	8.96	8.94	8.84	8.62	8.53
Debt to Total Capital	44.50%	49.39%	53.70%	52.71%	51.46%	48.93%	48.55%	48.99%	45.49%	46.05%	45.46%
Short-Term Debt to Total Capital	4.92%	4.27%	10.00%	10.07%	10.58%	9.64%	10.00%	2.02%	2.09%	8.16%	2.42%
Long-Term Debt to Total Capital	39.58%	45.12%	43.70%	42.64%	40.88%	39.30%	38.55%	46.97%	43.40%	37.89%	43.04%
Preferred Equity to Total Capital	2.59%	2.27%	2.02%	2.06%	2.14%	2.12%	2.12%	1.94%	1.97%	1.96%	1.92%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.91%	48.34%	44.28%	45.23%	46.40%	48.95%	49.33%	49.07%	52.54%	51.99%	52.62%
Debt to EBITDA	9.15	7.86	7.08	6.38	5.95	6.37	6.61	7.75	7.09	7.03	6.80
Net Debt to EBITDA	7.30	6.72	5.80	5.08	4.17	4.97	5.44	6.11	5.50	5.44	5.25
Long-Term Debt to EBITDA	8.14	7.18	5.77	5.16	4.73	5.12	5.25	7.43	6.77	5.79	6.43
Debt to NOPAT	13.97	11.69	10.16	9.18	8.54	9.16	9.50	11.18	10.26	10.04	9.67
Net Debt to NOPAT	11.14	9.98	8.31	7.32	5.98	7.14	7.81	8.82	7.96	7.76	7.47
Long-Term Debt to NOPAT	12.43	10.68	8.27	7.43	6.79	7.36	7.55	10.72	9.79	8.26	9.15
Noncontrolling Interest Sharing Ratio	2.89%	2.83%	4.39%	4.45%	4.53%	4.31%	4.24%	4.06%	3.97%	3.87%	3.80%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,195	-4,346	-1,674	-1,573	-1,740	-628	643	-599	-743	-704	-961
Operating Cash Flow to CapEx	2,294.57%	1,612.30%	593.51%	2,686.02%	2,403.35%	706.99%	1,228.87%	1,718.95%	2,972.70%	3,489.56%	2,346.27%
Free Cash Flow to Firm to Interest Expense	-106.75	-65.12	-14.67	-9.67	-8.64	-2.79	2.68	-2.18	-2.58	-2.63	-3.96
Operating Cash Flow to Interest Expense	8.30	1.90	0.47	0.99	1.14	0.32	0.44	0.58	0.42	0.88	0.45
Operating Cash Flow Less CapEx to Interest Expense	7.94	1.79	0.39	0.95	1.09	0.28	0.40	0.55	0.41	0.85	0.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	2.57	3.34	3.29	3.35	3.34	3.27	3.22	3.14	3.19	3.27	3.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,907	10,133	11,399	11,190	10,795	10,894	10,876	11,910	11,681	11,752	11,982
Invested Capital Turnover	0.19	0.22	0.18	0.19	0.20	0.17	0.16	0.16	0.17	0.17	0.17
Increase / (Decrease) in Invested Capital	3,335	4,546	1,821	1,728	1,888	760	-523	720	887	858	1,105
Enterprise Value (EV)	7,926	9,427	9,269	8,866	8,235	9,181	9,623	10,316	9,815	11,337	11,197
Market Capitalization	4,533	4,920	4,031	3,936	4,113	4,794	5,051	5,483	5,462	6,923	6,759
Book Value per Share	$16.09	$16.72	$17.23	$17.30	$17.12	$18.22	$18.44	$18.32	$20.97	$19.15	$19.76
Tangible Book Value per Share	$8.80	$9.47	$10.00	$10.08	$9.92	$11.04	$11.24	$11.09	$13.09	$11.96	$12.59
Total Capital	8,907	10,133	11,399	11,190	10,795	10,894	10,876	11,910	11,681	11,752	11,982
Total Debt	3,964	5,005	6,121	5,898	5,555	5,331	5,281	5,835	5,314	5,411	5,447
Total Long-Term Debt	3,526	4,572	4,982	4,771	4,413	4,281	4,193	5,594	5,069	4,453	5,157
Net Debt	3,162	4,276	5,008	4,700	3,892	4,156	4,341	4,602	4,122	4,183	4,207
Capital Expenditures (CapEx)	11	7.88	9.05	6.00	9.52	10	8.48	9.37	4.08	6.76	4.61
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	3,964	5,005	6,121	5,898	5,555	5,331	5,281	5,835	5,314	5,411	5,447
Total Depreciation and Amortization (D&A)	24	26	22	22	20	22	19	22	23	25	22
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.47	$0.79	$0.49	$0.52	$0.49	$0.45	$0.40	$0.37	$0.44	$0.48	$0.45
Adjusted Weighted Average Basic Shares Outstanding	290.96M	275.18M	291.09M	290.56M	290.65M	290.75M	290.98M	315.59M	315.62M	309.50M	315.93M
Adjusted Diluted Earnings per Share	$0.47	$0.78	$0.49	$0.52	$0.49	$0.44	$0.40	$0.37	$0.44	$0.47	$0.44
Adjusted Weighted Average Diluted Shares Outstanding	292.48M	276.69M	292.76M	291.27M	291.72M	291.86M	292.21M	316.46M	317.33M	311.00M	321.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	292.89M	292.92M	292.60M	292.59M	292.62M	292.70M	318.97M	318.97M	318.97M	318.98M	319.75M
Normalized Net Operating Profit after Tax (NOPAT)	142	205	149	157	150	138	122	123	146	158	147
Normalized NOPAT Margin	31.13%	36.82%	32.90%	33.88%	32.87%	29.74%	28.22%	25.93%	30.12%	32.18%	30.61%
Pre Tax Income Margin	39.18%	47.12%	41.58%	43.65%	42.14%	36.31%	35.20%	32.90%	38.09%	37.98%	37.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.98	3.93	1.65	1.24	0.95	0.75	0.64	0.57	0.64	0.69	0.75
NOPAT to Interest Expense	4.68	3.01	1.28	0.95	0.73	0.59	0.50	0.44	0.50	0.57	0.60
EBIT Less CapEx to Interest Expense	5.62	3.81	1.57	1.21	0.91	0.70	0.60	0.53	0.63	0.67	0.73
NOPAT Less CapEx to Interest Expense	4.32	2.89	1.20	0.92	0.69	0.54	0.47	0.41	0.48	0.55	0.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	54.94%	41.47%	29.87%	28.01%	27.68%	30.93%	32.39%	35.21%	36.20%	35.45%	34.56%
Augmented Payout Ratio	79.95%	58.09%	37.31%	34.95%	34.53%	38.55%	33.79%	36.92%	37.90%	37.10%	37.26%

Key Financial Trends

Old National Bancorp (NASDAQ:ONB) has demonstrated steady financial performance and growth trends over the past four years through Q1 2025, as reflected in its income statements, cash flow statements, and balance sheets provided.

Key Positive Trends:

Net interest income has grown overall, with Q1 2025 recording $387.6 million, up from $381.5 million in Q1 2023 and $356.5 million in Q1 2024, indicating consistent core banking income strength.
Non-interest income remains a solid contributor, with Q1 2025 at $93.8 million, higher than $77 million in Q1 2024 and $70.7 million in Q1 2023, showing diversification beyond interest income.
Net income attributable to common shareholders increased to $140.6 million in Q1 2025, maintaining growth from $136.1 million in Q1 2023 and competitive with prior quarters in 2024.
Total assets have steadily increased, growing from approximately $46.2 billion in Q3 2022 to $53.9 billion in Q1 2025, reflecting balance sheet expansion and lending growth.
Loan portfolio growth is evident, with net loans increasing from roughly $30.2 billion in Q3 2022 to $36 billion in Q1 2025, supporting interest income growth.
Equity has strengthened over time, with total equity rising from about $4.9 billion in Q1 2023 to $6.5 billion in Q1 2025, enhancing the bank’s capital base.
Operating cash flow in Q1 2025 was $108.2 million, showing operational cash generation supporting ongoing business activities.
Salaries and employee benefits expenses remain stable relative to revenue, indicating controlled operating costs with Q1 2025 expenses at $148.3 million.
Cash dividends per share have been steady at $0.14 across recent quarters, offering consistent shareholder returns.

Neutral Observations:

Provision for credit losses varied by quarter but has generally increased from $11.4 million in Q4 2022 to $31.4 million in Q1 2025, reflecting management's caution towards credit risk without severely impacting profitability.
Goodwill and intangible assets have increased, particularly goodwill growing from about $2 billion to $2.175 billion over the analyzed period, suggesting acquisitions but potentially raising impairment risk.
Interest expense has also increased, from approximately $66.7 million in Q4 2022 to $242.8 million in Q1 2025, consistent with growth in debt and deposit costs, impacting net interest margin.
Capital expenditure on property and equipment remains moderate, indicating ongoing investment but no excessive spend.

Risks and Concerns:

Non-interest expenses have increased from $284.2 million in Q4 2022 to $268.5 million in Q1 2025; although relatively stable, the slight upward trend may pressure net income if revenues flatten.
Accumulated other comprehensive loss remains significant, around -$648.5 million in Q1 2025, indicating unrealized losses likely from securities or pension plans that could affect equity volatility.
Net realized and unrealized capital gains/losses on investments show some volatility, with a notable loss of $76,000 in Q1 2025 and prior fluctuations, possibly impacting earnings unpredictably.
Cash flow from investing activities is consistently negative (e.g., -$270.6 million in Q1 2025), driven by investment purchases exceeding sales, which requires sustained financing and might affect liquidity if unchecked.
Long-term debt has increased to $5.16 billion in Q1 2025 from $3.5 billion in Q3 2022, increasing leverage and interest obligations that could strain cash flow under higher rate environments.

Overall, Old National Bancorp has shown solid performance with growth in key financial metrics and stable earnings. However, investors should monitor credit loss provisions, expense control, and investment-related losses alongside leverage increases as potential risk factors.

08/29/25 01:08 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Old National Bancorp's Financials

When does Old National Bancorp's fiscal year end?

According to the most recent income statement we have on file, Old National Bancorp's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Old National Bancorp's net income changed over the last 9 years?

Old National Bancorp's net income appears to be on an upward trend, with a most recent value of $539.19 million in 2024, rising from $116.72 million in 2015. The previous period was $581.99 million in 2023. See Old National Bancorp's forecast for analyst expectations on what’s next for the company.

How has Old National Bancorp's revenue changed over the last 9 years?

Over the last 9 years, Old National Bancorp's total revenue changed from $596.75 million in 2015 to $1.89 billion in 2024, a change of 216.0%.

How much debt does Old National Bancorp have?

Old National Bancorp's total liabilities were at $47.21 billion at the end of 2024, a 8.5% increase from 2023, and a 349.6% increase since 2015.

How much cash does Old National Bancorp have?

In the past 9 years, Old National Bancorp's cash and equivalents has ranged from $91.31 million in 2015 to $453.43 million in 2022, and is currently $394.45 million as of their latest financial filing in 2024.

How has Old National Bancorp's book value per share changed over the last 9 years?

Over the last 9 years, Old National Bancorp's book value per share changed from 13.02 in 2015 to 19.15 in 2024, a change of 47.1%.

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This page (NASDAQ:ONB) was last updated on 8/29/2025 by MarketBeat.com Staff

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Old National Bancorp (ONB) Financials

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Old National Bancorp (ONB) Financials

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