Old National Bancorp doubles EPS to $0.65 on record Q2 earnings and robust loan growth
ONB sits 39% above its 52-week low of $19.391 on light trading volume (0.2× avg).
Summary
Net income reached $253.4 million, or $0.65 per diluted share, in Q2 2026—more than double the prior-year period. Outperformance was driven by strong loan and deposit growth, lower credit provisions, and improved efficiency.
Key Events · Earnings and Guidance · ONB
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Earnings More Than Double
Net income applicable to common shareholders surged to $249.4 million, or $0.65 per diluted share, in Q2 2026, compared with $121.4 million, or $0.34 per diluted share, a year earlier. The jump reflects higher net interest income, a lower provision for credit losses, and strong noninterest income.
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Loan and Deposit Growth Accelerates
From year-end 2025, total loans rose $2.0 billion to $50.8 billion, while total deposits climbed $1.1 billion to $56.1 billion. The expansion stems from organic commercial loan production and the full-quarter impact of the Bremer acquisition.
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Credit Quality Improves
The provision for credit losses dropped to $36.2 million from $106.8 million a year ago, when a large Day 1 provision for acquired Bremer loans inflated the figure. Nonperforming loans fell to 0.91% of total loans from 1.07% at year-end 2025.
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Capital Returned to Shareholders
During the first half of 2026, the company repurchased $219.4 million of common stock, reducing shares outstanding by 8.3 million. The board also raised the quarterly dividend to $0.145 per share.
Analysis · ONB · Finance
A standout quarter saw net income more than double year-over-year to $253 million, fueled by strong loan and deposit expansion, a sharp decline in credit loss provisions, and disciplined expense control. The Bremer acquisition integration continues to deliver, with an expanding balance sheet and markedly improved profitability metrics. While the stock trades near its 52-week high, the earnings beat and improving credit trends reinforce the positive momentum.
At the time of this filing, ONB was trading at $26.89 on NASDAQ in the Finance sector, with a market capitalization of approximately $10.4B. The 52-week trading range was $19.39 to $27.32. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.