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Jun 30, 2024
Old National Q2 2024 Earnings Report
Old National's financial performance exceeded expectations due to revenue growth and expense management, with the successful closing of the CapStar Bank partnership enhancing its presence in Nashville and expanding into Southeastern markets.
Key Takeaways
Old National Bancorp reported a strong second quarter in 2024, with net income applicable to common shares of $117.2 million and diluted EPS of $0.37. Adjusted figures were even higher, with net income at $144.1 million and EPS at $0.46. The quarter was marked by better-than-expected revenue growth and lower expenses, along with the successful closing of the CapStar Bank partnership.
Net income applicable to common shares was $117.2 million, with adjusted net income at $144.1 million.
Earnings per diluted common share (EPS) reached $0.37, with adjusted EPS at $0.46.
Net interest income on a fully taxable equivalent basis totaled $394.8 million.
Period-end total deposits amounted to $40.0 billion, up $2.3 billion, while total loans reached $36.2 billion, up $2.6 billion.
Old National
Old National
Old National Revenue by Segment
Revenue by Segment
Wealth and investment services fees Revenue
CapyFin.comService charges on deposit accounts Revenue
CapyFin.comMortgage banking Revenue
CapyFin.comCapital markets income Revenue
CapyFin.comCompany-owned life insurance Revenue
CapyFin.comOther income Revenue
CapyFin.comDebit card and ATM fees Revenue
CapyFin.com Forward Guidance
This communication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), notwithstanding that such statements are not specifically identified as such.
Positive Outlook
- descriptions of Old National’s financial condition
- results of operations
- asset and credit quality trends
- profitability
- business plans or opportunities
Challenges Ahead
- competition
- government legislation, regulations and policies
- the ability of Old National to execute its business plan
- unanticipated changes in our liquidity position, including but not limited to changes in our access to sources of liquidity and capital to address our liquidity needs
- changes in economic conditions and economic and business uncertainty which could materially impact credit quality trends and the ability to generate loans and gather deposits