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Mar 31, 2023
Old National Q1 2023 Earnings Report
Old National's first quarter results were supported by a strong deposit franchise, ample liquidity, stable credit, and expense discipline.
Key Takeaways
Old National Bancorp reported a positive first quarter with net income applicable to common shares of $142.6 million, and diluted EPS of $0.49. Adjusted net income was $159.1 million, or $0.54 per diluted common share. The results reflect the stability of Old National's low-cost deposit franchise, the strength of its loan portfolio and revenue streams, excellent expense discipline, stable credit, and ample liquidity.
Net income applicable to common shares of $142.6 million; adjusted net income applicable to common shares of $159.1 million.
Earnings per diluted common share (EPS) of $0.49; adjusted EPS of $0.54.
Net interest income on a fully taxable equivalent basis of $387.2 million.
Net interest margin on a fully taxable equivalent basis (NIM) of 3.69%, down 16 basis points (bps).
Forward Guidance
Old National finds itself exceptionally well-positioned for whatever headwinds may lie ahead due to its stable low-cost deposit franchise, the strength of its loan portfolio and revenue streams, excellent expense discipline, stable credit and ample liquidity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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