ONBPPMEDIUM SIGNALFINANCIAL10-K

Old National Bancorp shows robust balance sheet expansion with assets growing 35% to $72.2B, accompanied by strong profitability gains and substantially higher dividend payments.

The bank demonstrates healthy organic growth with deposits expanding 35% while maintaining strong capital ratios and improving profitability. The substantial increase in dividend payments signals management confidence in earnings sustainability and capital generation capacity.

Comparing 2026-02-19 vs 2025-02-19View on EDGAR →
FINANCIAL ANALYSIS

Old National delivered strong financial performance with net interest income growing 26% to $3.3B and net income increasing 24% to $669M, reflecting successful business expansion. The balance sheet grew meaningfully across all major categories, with total assets reaching $72.2B and deposits climbing to $55.1B, while cash positions strengthened to $1.8B. Dividend payments roughly doubled, indicating robust cash generation and management's commitment to returning capital to shareholders while funding continued growth initiatives.

FINANCIAL STATEMENT CHANGES
Dividends Paid
Cash Flow
+91.3%
$92.8M$177.6M

Dividend payments increased 91.3% — management confidence in sustained cash generation.

Cash & Equivalents
Balance Sheet
+48.7%
$1.2B$1.8B

Cash position surged 48.7% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
+45.6%
$30.3M$44.1M

Capital expenditure jumped 45.6% — major investment cycle underway; assess returns on deployment.

Total Deposits
Balance Sheet
+34.9%
$40.8B$55.1B

Deposits grew 34.9% — expanding customer base or increased trust in the institution.

Total Liabilities
Balance Sheet
+34.8%
$47.2B$63.7B

Liabilities grew 34.8% — significant increase in debt or obligations, assess impact on financial flexibility.

Total Assets
Balance Sheet
+34.7%
$53.6B$72.2B

Asset base grew 34.7% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+34%
$6.3B$8.5B

Equity base grew 34% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Interest Income
P&L
+25.7%
$2.6B$3.3B

Net interest income grew 25.7% — benefiting from rate environment or loan book expansion.

Net Income
P&L
+24.1%
$539.2M$669.3M

Net income grew 24.1% — bottom-line growth signals improving overall business health.

Total Debt
Balance Sheet
+13.6%
$218.9M$248.8M

Debt rose 13.6% — additional borrowing for investment or operations; monitor coverage ratios.

LANGUAGE CHANGES
NEW — 2026-02-19
PRIOR — 2025-02-19
ADDED
Through Old National Bank and our non-bank affiliates, we provide a wide range of services primarily throughout the Midwest and Southeast regions of the United States.
We earn interest income on loans as well as fee income from the origination of loans and from providing other services to our clients.
Residential real estate loans are either kept in our loan portfolio or sold to secondary investors.
HUMAN CAPITAL RESOURCES At December 31, 2025, we employed 4,971 full time equivalent team members.
Attracting, developing, and retaining top talent is a strategic priority supported by integrated talent and succession planning, structured hiring practices, comprehensive total rewards, and meaningful growth opportunities.
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REMOVED
Securities and Exchange Commission SOFR: Secured Overnight Financing Rate 3 OLD NATIONAL BANCORP 2024 ANNUAL REPORT ON FORM 10-K FORWARD-LOOKING STATEMENTS This report 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.
Through our wholly owned banking subsidiary and non-bank affiliates, we provide a wide range of services primarily throughout the Midwest and Southeast regions of the United States.
We earn interest income on loans as well as fee income from the origination of loans.
Residential real estate loans are either kept in our loan portfolio or sold to secondary investors, with gains or losses from the sales being recognized.
HUMAN CAPITAL RESOURCES At December 31, 2024, we employed 4,066 full-time equivalent team members.
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