Old National Bancorp (ONB) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2025
0mins
Should l Buy ONB?
Source: SeekingAlpha
Adjusted Earnings Per Share (EPS) $0.59, an 11% increase over the prior quarter and a 28% increase year-over-year. This was driven by the full quarter impact of Bremer operations, margin expansion, better-than-expected growth in fee income, and well-controlled expenses.
Return on Average Tangible Common Equity 20%, reflecting strong profitability and operational efficiency.
Return on Assets (ROA) 1.3%, indicating strong asset utilization and profitability.
Efficiency Ratio Below 50%, showing improved operational efficiency.
CET1 Ratio Over 11%, a 28 basis points increase from the prior quarter, driven by strong retained earnings and capital generation despite merger-related charges and share repurchases.
Tangible Book Value Per Share Grew 4% from 2Q and 10% year-over-year, even with the impact of merger charges and share repurchases.
Loan Growth (Excluding Bremer) 3.1% annualized from last quarter, supported by a 20% increase in production from the prior quarter and a 40% year-over-year increase in the legacy Old National pipeline.
Deposit Growth 4.8% annualized, with core deposits (excluding brokered) growing 5.8% annualized, driven by growth from existing and new commercial clients.
Net Interest Income and Margin Increased due to the full quarter impact of Bremer, asset repricing, and organic growth.
Adjusted Noninterest Income $130 million for the quarter, exceeding guidance, driven by Bremer and organic growth in primary fee businesses, with strong performance in capital markets.
Adjusted Noninterest Expenses $376 million for the quarter, reflecting a full quarter impact of Bremer operations, with well-controlled run rate expenses and a low 48% efficiency ratio.
Credit Metrics Total net charge-offs were 25 basis points, with a 6% reduction in criticized and classified loans, reflecting active portfolio management.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ONB?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ONB
Wall Street analysts forecast ONB stock price to rise
7 Analyst Rating
4 Buy
3 Hold
0 Sell
Moderate Buy
Current: 23.590
Low
25.00
Averages
26.29
High
29.00
Current: 23.590
Low
25.00
Averages
26.29
High
29.00
About ONB
Old National Bancorp is the financial holding company of Old National Bank. Old National Bank is a commercial bank that provides a range of services primarily throughout the Midwest and Southeast regions of the United States. It provides commercial and consumer loan and depository services, private banking, capital markets, brokerage, wealth management, trust, investment advisory, and other traditional banking services. It also provides services in consumer and commercial banking; Old National Bank offers comprehensive wealth management and capital markets services. Each of the banking centers of Old National Bank provides a group of similar community banking services, including such products and services as commercial, real estate, and consumer loans; deposits; and private banking, capital markets, brokerage, wealth management, trust, and investment advisory services. Its lending activities include loans to individuals, and loans to commercial clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Old National Bancorp Declares Quarterly Dividend
- Quarterly Dividend Announcement: Old National Bancorp (ONB) declares a quarterly dividend of $0.145 per share, consistent with previous distributions, demonstrating the company's ongoing commitment to stable dividends and bolstering investor confidence.
- Dividend Yield: The forward yield of 2.47% reflects the company's attractiveness in the current market environment, potentially drawing in more investors seeking reliable income streams.
- Payment Schedule: The dividend is payable on June 15, with a record date of June 5 and an ex-dividend date also on June 5, ensuring shareholders receive timely returns and enhancing shareholder satisfaction.
- Loan Growth Outlook: Old National Bancorp outlines a loan growth forecast of 4%-6% for 2026 while maintaining its full-year guidance, indicating confidence in future business expansion, which may attract more investor interest in its long-term growth potential.
See More
Old National Bank Launches Golf Ambassador Team
- Golf Ambassador Team Launch: Old National Bank has introduced the 'Team Old National' golf ambassadors, spotlighting elite talents like PGA TOUR standout Michael Brennan and world amateur No. 1 Kiara Romero, aiming to enhance brand visibility during national tournaments.
- Brennan's Career Breakthrough: Michael Brennan secured full-time PGA TOUR membership after winning the Bank of Utah Championship in October 2025, currently ranked 49th in the World Golf Rankings, showcasing his competitive prowess in the sport.
- Romero's Outstanding Achievements: Kiara Romero, the top-ranked player in the World Amateur Golf Rankings and recipient of the 2025 McCormack Medal, holds a school record with six individual tournament wins, highlighting her potential and influence in the golf community.
- Brand and Community Engagement: By supporting these exceptional athletes, Old National Bank not only boosts its brand recognition but also strengthens its connection with the communities it serves, reflecting its commitment to the sport of golf and client engagement.
See More
Endeavour Capital Increases Stake in National Bank Holdings
- Stake Increase: Endeavour Capital Advisors disclosed in its SEC filing on May 11, 2026, that it increased its stake in National Bank Holdings Corporation (NYSE:NBHC) by 400,478 shares, with an estimated transaction value of $16.05 million, indicating confidence in the bank's future growth prospects.
- Ownership Proportion Rise: Following this purchase, Endeavour's stake in National Bank now stands at 5.11%, making it the fourth largest holding in its portfolio, reflecting a continued focus on regional banks as part of its investment strategy.
- Strong Profitability: National Bank reported a net margin of 26.34% for Q1 2026, despite a weaker performance in Q4 2025, showcasing robust profitability metrics that have attracted investor interest.
- Shareholder-Friendly Dividend: The bank has raised its dividend five times in the past five years, including a 6.7% increase over the last year, appealing to income-focused investors and enhancing its market attractiveness.
See More
Old National Bank Engages in Financial Literacy Roundtable
- Financial Literacy Advocacy: Old National Bank participated in the U.S. Treasury's Financial Literacy Month Roundtable, emphasizing the importance of financial education for the long-term success of clients and the bank, showcasing its leadership in the community.
- Education Platform Expansion: Through its Real-Life Finance® platform, Old National Bank offers diverse financial education services, including school programs and partnerships with nonprofits, recently adding Spanish-language content to meet the needs of a diverse clientele.
- Community Impact: Treasury Secretary Bessent highlighted the critical role of community banks in enhancing financial education and creating opportunities, aligning Old National's efforts with the National Strategy for Financial Inclusion aimed at reducing unbanked households.
- Industry Recognition: Old National Bank was named one of
See More
Old National Bancorp Preferred Stock Dividend History
- Dividend History Overview: Old National Bancorp's 7.00% Non-Cumulative Preferred Stock Series A (ONBPP) recently declared a dividend of $0.4375 per share, indicating the company's commitment to maintaining shareholder returns.
- ETF Holdings Insight: According to ETF Finder, Old National Bancorp (ONB) constitutes 2.79% of the First Trust Dorsey Wright Momentum & Value ETF (DVLU), highlighting its significance within investment portfolios.
- Stock Performance: In Friday trading, Old National Bancorp's preferred shares (ONBPP) were down about 0.1%, while common shares (ONB) rose approximately 0.3%, suggesting a growing preference for common stock among investors.
- Market Dynamics: Despite the slight decline in preferred shares, the overall market interest in Old National Bancorp remains high, reflecting investor confidence in its future performance.
See More
Banking Sector Faces Disruption from Fintech
- Banking Sector Growth: The banking industry has posted an 11.3% gain over the past six months, outperforming the S&P 500 by 6.3 percentage points, indicating improved net interest margins and robust credit growth, but future competition from fintech is expected to intensify.
- Concerns on Old National Bank: Old National Bank's net interest margin stands at 3.5%, significantly below industry averages, and its five-year annual earnings per share growth of 5.8% suggests insufficient profitability, which may deter long-term investment interest.
- NBT Bancorp's Lackluster Growth: NBT Bancorp has experienced only 9.3% annual sales growth, below typical banking standards, and its estimated net interest income growth of 6.7% for the next 12 months indicates a slowdown in demand, potentially leading to further market share loss.
- Arbor Realty Trust's Capital Management Issues: Arbor Realty Trust has seen a decline in earnings per share over the past two years, with an annual tangible book value per share decrease of 5.1%, highlighting challenges in capital management during the current economic cycle, which could undermine investor confidence.
See More
Old National Bancorp Declares Quarterly Dividend
- Quarterly Dividend Announcement: Old National Bancorp (ONB) declares a quarterly dividend of $0.145 per share, consistent with previous distributions, demonstrating the company's ongoing commitment to stable dividends and bolstering investor confidence.
- Dividend Yield: The forward yield of 2.47% reflects the company's attractiveness in the current market environment, potentially drawing in more investors seeking reliable income streams.
- Payment Schedule: The dividend is payable on June 15, with a record date of June 5 and an ex-dividend date also on June 5, ensuring shareholders receive timely returns and enhancing shareholder satisfaction.
- Loan Growth Outlook: Old National Bancorp outlines a loan growth forecast of 4%-6% for 2026 while maintaining its full-year guidance, indicating confidence in future business expansion, which may attract more investor interest in its long-term growth potential.
See More
Old National Bank Launches Golf Ambassador Team
- Golf Ambassador Team Launch: Old National Bank has introduced the 'Team Old National' golf ambassadors, spotlighting elite talents like PGA TOUR standout Michael Brennan and world amateur No. 1 Kiara Romero, aiming to enhance brand visibility during national tournaments.
- Brennan's Career Breakthrough: Michael Brennan secured full-time PGA TOUR membership after winning the Bank of Utah Championship in October 2025, currently ranked 49th in the World Golf Rankings, showcasing his competitive prowess in the sport.
- Romero's Outstanding Achievements: Kiara Romero, the top-ranked player in the World Amateur Golf Rankings and recipient of the 2025 McCormack Medal, holds a school record with six individual tournament wins, highlighting her potential and influence in the golf community.
- Brand and Community Engagement: By supporting these exceptional athletes, Old National Bank not only boosts its brand recognition but also strengthens its connection with the communities it serves, reflecting its commitment to the sport of golf and client engagement.
See More
Endeavour Capital Increases Stake in National Bank Holdings
- Stake Increase: Endeavour Capital Advisors disclosed in its SEC filing on May 11, 2026, that it increased its stake in National Bank Holdings Corporation (NYSE:NBHC) by 400,478 shares, with an estimated transaction value of $16.05 million, indicating confidence in the bank's future growth prospects.
- Ownership Proportion Rise: Following this purchase, Endeavour's stake in National Bank now stands at 5.11%, making it the fourth largest holding in its portfolio, reflecting a continued focus on regional banks as part of its investment strategy.
- Strong Profitability: National Bank reported a net margin of 26.34% for Q1 2026, despite a weaker performance in Q4 2025, showcasing robust profitability metrics that have attracted investor interest.
- Shareholder-Friendly Dividend: The bank has raised its dividend five times in the past five years, including a 6.7% increase over the last year, appealing to income-focused investors and enhancing its market attractiveness.
See More
Old National Bank Engages in Financial Literacy Roundtable
- Financial Literacy Advocacy: Old National Bank participated in the U.S. Treasury's Financial Literacy Month Roundtable, emphasizing the importance of financial education for the long-term success of clients and the bank, showcasing its leadership in the community.
- Education Platform Expansion: Through its Real-Life Finance® platform, Old National Bank offers diverse financial education services, including school programs and partnerships with nonprofits, recently adding Spanish-language content to meet the needs of a diverse clientele.
- Community Impact: Treasury Secretary Bessent highlighted the critical role of community banks in enhancing financial education and creating opportunities, aligning Old National's efforts with the National Strategy for Financial Inclusion aimed at reducing unbanked households.
- Industry Recognition: Old National Bank was named one of
See More
Old National Bancorp Preferred Stock Dividend History
- Dividend History Overview: Old National Bancorp's 7.00% Non-Cumulative Preferred Stock Series A (ONBPP) recently declared a dividend of $0.4375 per share, indicating the company's commitment to maintaining shareholder returns.
- ETF Holdings Insight: According to ETF Finder, Old National Bancorp (ONB) constitutes 2.79% of the First Trust Dorsey Wright Momentum & Value ETF (DVLU), highlighting its significance within investment portfolios.
- Stock Performance: In Friday trading, Old National Bancorp's preferred shares (ONBPP) were down about 0.1%, while common shares (ONB) rose approximately 0.3%, suggesting a growing preference for common stock among investors.
- Market Dynamics: Despite the slight decline in preferred shares, the overall market interest in Old National Bancorp remains high, reflecting investor confidence in its future performance.
See More
Banking Sector Faces Disruption from Fintech
- Banking Sector Growth: The banking industry has posted an 11.3% gain over the past six months, outperforming the S&P 500 by 6.3 percentage points, indicating improved net interest margins and robust credit growth, but future competition from fintech is expected to intensify.
- Concerns on Old National Bank: Old National Bank's net interest margin stands at 3.5%, significantly below industry averages, and its five-year annual earnings per share growth of 5.8% suggests insufficient profitability, which may deter long-term investment interest.
- NBT Bancorp's Lackluster Growth: NBT Bancorp has experienced only 9.3% annual sales growth, below typical banking standards, and its estimated net interest income growth of 6.7% for the next 12 months indicates a slowdown in demand, potentially leading to further market share loss.
- Arbor Realty Trust's Capital Management Issues: Arbor Realty Trust has seen a decline in earnings per share over the past two years, with an annual tangible book value per share decrease of 5.1%, highlighting challenges in capital management during the current economic cycle, which could undermine investor confidence.
See More
