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Dec 31, 2023

Old National Q4 2023 Earnings Report

Old National's Q4 2023 earnings were supported by a strong deposit franchise, stable credit quality, and well-managed expenses.

Key Takeaways

Old National Bancorp reported a net income applicable to common shares of $128.4 million and diluted EPS of $0.44 for Q4 2023. Adjusted figures were $134.6 million and $0.46, respectively. The results reflect a strong deposit franchise, disciplined loan growth, and well-managed expenses.

Net income applicable to common shares was $128.4 million, with an adjusted net income of $134.6 million.

Earnings per diluted common share (EPS) reached $0.44, with an adjusted EPS of $0.46.

Net interest income on a fully taxable equivalent basis was $370.5 million.

Period-end total deposits amounted to $37.2 billion, consistent with the previous quarter, and core deposits increased by 0.4%.

Total Revenue
$465M
Previous year: $556M
-16.5%
EPS
$0.46
Previous year: $0.56
-17.9%
Efficiency Ratio
0.59%
Previous year: 49.1%
-98.8%
Net Interest Margin
0.03%
Previous year: 3.85%
-99.1%
Cash and Equivalents
$431M
Previous year: $723M
-40.4%
Free Cash Flow
$62.5M
Previous year: $118M
-47.0%
Total Assets
$49.1B
Previous year: $46.8B
+5.0%

Old National

Old National

Forward Guidance

Old National did not provide specific forward guidance in this earnings report.