Old National posted record second-quarter 2026 net income applicable to common shares of $249.4 million and diluted EPS of $0.65, with adjusted net income of $250.4 million and adjusted diluted EPS of $0.65. Net interest income (FTE) was $586.5 million and the bank delivered a record adjusted efficiency ratio of 45.2%. Period-end loans rose to $50.8 billion while period-end deposits were $56.1 billion as the company repurchased $107 million of common stock during the quarter.

Financial Highlights

  • Net income applicable to common shares: $249.4 million for Q2 2026; adjusted net income: $250.4 million.
  • Diluted EPS: $0.65; adjusted diluted EPS: $0.65 for the quarter.
  • Net interest income (fully taxable equivalent): $586.5 million; NIM (FTE): 3.54%.
  • Total noninterest income: $153.6 million (includes $13.2 million pre-tax Bremer pension settlement gain).
  • Noninterest expense: $372.2 million; adjusted noninterest expense: $360.1 million; efficiency ratio: 47.0%; adjusted efficiency ratio: 45.2% (record).

Business Highlights

  • Loan growth: End-of-period total loans increased to $50.8 billion, up $1.0 billion (8.3% annualized), driven by commercial and commercial real estate production.
  • Commercial loan activity: Total commercial loan production in Q2 was $3.5 billion with a record period-end commercial pipeline of $5.6 billion.
  • Deposits and funding: Period-end total deposits were $56.1 billion, up 3.4% annualized; maintained a granular low-cost deposit base with total deposit cost of 1.71%.
  • Capital and shareholder actions: Repurchased $107 million (4.4 million shares) and paid $56 million in quarterly dividends, with preliminary Tier 1 common ratio at 11.09%.
  • Leadership and organizational change: Established an Operating Group within the executive leadership team and added four leaders to the ELT to accelerate strategy execution; Rafael Sanchez named Chief Government and Corporate Affairs Officer.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.