Old National Grows Wealth Management Services for High-Net-Worth Clients and Institutions
Expansion of 1834 in Florida: 1834, a division of Old National Bank, has expanded its services to southwestern Florida, led by Jeff Robinson, who aims to provide comprehensive wealth management solutions for high and ultra-high net-worth individuals and institutions.
Team Composition: The Naples-based team includes experienced professionals such as Rick Sterioti, Jolene Wall, and Eric Cosentino, each bringing decades of expertise in wealth management, investment planning, and portfolio management.
Holistic Wealth Management Services: 1834 offers a range of customized services including wealth planning, investment management, estate planning, and specialized services for businesses and nonprofits, emphasizing a boutique-style experience without high entry fees.
Leadership and Community Focus: The firm is led by seasoned executives with over 80 years of combined experience and is recognized for its community involvement, being named one of "The Civic 50" for its commitment to community service.
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- Community Investment Commitment: In 2025, Old National provided $13.6 million in grants and scholarships to over 2,100 organizations, demonstrating its strong commitment to community investment and reinforcing its position as a regional bank.
- Volunteer Service Hours: Team members donated more than 67,000 hours of volunteer service in 2025, showcasing the company's proactive efforts in promoting community engagement and service, thereby strengthening relationships with clients.
- Employee Development Resources: Old National offers extensive learning and development resources to foster team member engagement and a sense of belonging, which enhances employee satisfaction and retention while strengthening company culture.
- Risk Management and Corporate Governance: The company continues to focus on robust risk management and corporate governance in 2025, ensuring stable operations in a rapidly changing market environment and enhancing investor confidence.
- Leadership Restructuring: Old National Bancorp has announced a strategic realignment of its Commercial Banking leadership, appointing Chris Doyle as President of Commercial Banking and promoting John C. Thurston to President of Corporate Banking, aiming to better align leadership roles with client needs and enhance service quality and client satisfaction.
- Background of New Appointments: Chris Doyle brings over 20 years of banking experience, having served as a Commercial Regional Leader at a super-regional bank, where he was responsible for complex client transactions and growth strategies, which is expected to inject new growth momentum and competitive edge into Old National.
- Functional Integration: Joe Wicklander will continue to lead Treasury Management and Merchant Services while taking on Foreign Exchange responsibilities, and Tim Kocher will transition to Chief Service Delivery Officer, strengthening service delivery for Commercial Banking clients and enhancing operational efficiency and client experience.
- Market Position Enhancement: As the sixth largest commercial bank in the Midwest, managing approximately $37 billion in assets, the restructured leadership is set to further solidify Old National's market position and drive sustainable long-term growth.
National Bank Corp Update: Barclays has raised the target price for National Bank Corp's stock to $30 from a previous $29.
Market Implications: This adjustment reflects Barclays' positive outlook on National Bank Corp's performance in the market.
- Earnings Release Schedule: Old National Bancorp will release its Q1 earnings on April 22, 2026, at 7:00 A.M. ET, providing insights into its financial performance and market dynamics, which may influence investor confidence.
- Conference Call Timing: The conference call at 10:00 A.M. ET on the same day will offer investors a detailed analysis, aiding in the understanding of the earnings report and future outlook, thereby enhancing transparency and communication efficiency.
- Replay Services: A replay of the earnings call will be available within one hour after the call concludes, until midnight ET on May 6, 2026, ensuring that investors who cannot attend live can access critical information, thus improving information accessibility.
- Company Background: As the sixth largest commercial bank in the Midwest, Old National Bancorp manages approximately $72 billion in assets and is committed to building long-term partnerships with clients, while also being recognized as one of the 50 most community-minded companies in the U.S., highlighting its social responsibility.
- Outstanding Rating: Old National Bank received an 'Outstanding' rating under the Community Reinvestment Act (CRA), indicating exceptional performance in meeting community credit, investment, and service needs, with fewer than 10% of U.S. banks achieving this level.
- Loan Support: During the evaluation period, Old National provided nearly $2.4 billion in community development loans focused on affordable housing and economic development, demonstrating a strong commitment to positively impacting low-income communities.
- Investment Performance: The bank excelled in community development investments, with all assessed Multistate Metropolitan Statistical Areas rated 'Outstanding', showcasing its responsiveness to community needs.
- Volunteer Service Contribution: Old National highlighted over 20,000 hours of volunteerism across 10 states during the evaluation, reflecting its leadership and commitment to community engagement and financial education.
- Inflation Impact: January's Producer Price Index (PPI) rose 0.5% month-over-month, surpassing the expected 0.3%, with the core component increasing by 0.8%, indicating limited room for the Federal Reserve to cut interest rates and heightening concerns over potential economic slowdown.
- Rising Credit Risk: A Bank of America strategist highlighted increasing concerns over problem loans that could pressure lenders, prompting investors to reassess credit risk, particularly in private credit and leveraged loan markets, negatively impacting valuations of banks sensitive to economic cycles.
- Regional Bank Declines: The market's reaction led to significant declines in regional banks, with UMB Financial (NASDAQ:UMBF) down 7%, Texas Capital Bank (NASDAQ:TCBI) down 6.8%, Simmons First National (NASDAQ:SFNC) down 6.6%, Pinnacle Financial Partners (NASDAQ:PNFP) down 7.5%, and Old National Bank (NASDAQ:ONB) down 6.7%, reflecting waning investor confidence in the sector.
- Overreaction Opportunity: While the market's response to the news has been severe, the substantial price drops may present good buying opportunities for high-quality stocks, especially amid increasing economic uncertainty, necessitating careful evaluation of potential investment prospects.







