Old National Bancorp (ONB) SEC Filings & Earnings Calls

Deposit cost pressure: total deposit costs increased 8 bps sequentially to 1.79%, interest-bearing deposit costs up 8 bps to 2.31%.

“Granular low-cost deposit franchise; total deposit costs of 179 bps, up 8 bps; interest-bearing deposit costs of 231 bps, up 8 bps.” · word for word

Commercial pipeline declined 20% sequentially from record levels, though still up 6% YoY.

“Period-end commercial pipeline totaled $4.4 billion, down 20% from record levels at the end of the second quarter and up 6% from a year ago.” · word for word

Interest Rate Risk

“The Federal Reserve held its interest rates steady during the second quarter of 2026 and decreased interest rates compared to those in effect as of June 30, 2025.” · word for word

Merger Integration Risk

“Results for the second quarter of 2026 were impacted by $12.1 million in pre-tax merger-related expenses” · word for word

Merger-related charges of $12.1M pre-tax

“$12.1 million of pre-tax merger-related charges” · word for word

Net charge-offs of $32.2M or 26bps of average loans

“Net charge-offs of $32.2 million, or 26 bps of average loans” · word for word

Credit quality deterioration

“Total criticized and classified assets were $3.2 billion at March 31, 2026, an increase of $112.7 million from December 31, 2025.” · word for word

Rising charge-offs

“Net charge-offs on loans totaled $32.0 million during the three months ended March 31, 2026, compared to $21.6 million for the same period in 2025.” · word for word

NIM compression due to rate environment may pressure future earnings.

“Net interest margin decreased 10 bps to 3.55%”

Credit quality remains strong but net charge-offs slightly elevated.

“Net charge-offs 26 bps; nonaccrual loans 1.03%”

Key executive retirement

“On December 3, 2025, the Company announced Mr. Sandgren's intention to retire in April 2026 following 34 years of service to the Company.” · word for word

Potential dilution from equity plan

“the total potential dilution or 'overhang' from the approval of the 2026 Equity Plan would be 3.8% on a fully diluted basis.” · word for word

Commercial Real Estate Concentration

“At December 31, 2025, commercial real estate loans, including owner-occupied, investor, and real estate construction loans, totaled $22.1 billion, or 45%, of our total loan portfolio.” · word for word

Interest Rate Risk

“When market interest rates decline, such as during the end of 2024 and end of 2025, Old National has experienced, and could in the future experience, fixed-rate loan prepayments and higher investment portfolio cash flows, resulting in a lower yield on earning assets.” · word for word

Deposit Competition

“If competitors raise the rates they pay on deposits, the Company’s funding costs may increase, either because the Company raises rates to avoid losing deposits or because the Company loses deposits to competitors and must rely on more expensive sources of funding.” · word for word

Credit quality remains stable but net charge-offs increased slightly

“Net charge-offs were $32.1 million, or 27 bps of average loans, compared to 24 bps in prior quarter.” · word for word

Core deposits declined modestly, partially offset by seasonal public fund outflows

“Core deposits down 3.2% annualized; increases in private banking and community deposits were more than offset by seasonal outflows of public funds.”

Leadership transition risk in commercial banking segment.

“Retirement of key executive, succession plan not detailed.”

Integration risk from Bremer acquisition

“The majority of system conversions related to the acquisition were completed in mid-October 2025.” · word for word

Credit quality deterioration

“Net charge-offs to average loans increased from 0.19% to 0.25% year-over-year.”