Old National Bancorp Reports Strong 2025 Performance Driven by Acquisitions, Announces $400M Share Repurchase

summarizeSummary

Old National Bancorp reported strong financial results for 2025, marked by significant growth from acquisitions and organic operations, a 15% increase in tangible book value per share, and the authorization of a new $400 million share repurchase program.

check_boxKey Events

• Record 2025 Financial Performance

  Net income applicable to common shareholders increased to $653.1 million, or $1.79 per diluted common share, for 2025. Adjusted net income per diluted common share reached $2.21, up from $1.86 in 2024.

• Significant Growth in Assets, Loans, and Deposits

  Total assets grew to $72.2 billion at year-end 2025, an $18.6 billion increase from 2024, primarily due to the Bremer acquisition. Total loans increased by $12.5 billion to $48.8 billion, and total deposits rose by $14.3 billion to $55.1 billion.

• Successful Bremer Acquisition Integration

  The acquisition of Bremer Financial Corporation on May 1, 2025, significantly expanded the company's footprint and contributed substantially to asset, loan, and deposit growth. Integration of Bremer systems was largely completed by mid-October 2025.

• New $400 Million Share Repurchase Program

  The Board of Directors approved a new share repurchase program in Q1 2026, authorizing the repurchase of up to $400 million of common stock through February 28, 2027, replacing the prior $200 million program.

auto_awesomeAnalysis

Old National Bancorp's 2025 annual report highlights a year of significant growth and strong financial performance, largely driven by the successful integration of the Bremer acquisition. The company demonstrated robust increases in net income, total assets, loans, and deposits, alongside an improved efficiency ratio and tangible book value per share. The announcement of a new $400 million share repurchase program signals confidence in future performance and a commitment to shareholder returns. Additionally, the subsequent issuance of $450 million in subordinated notes further strengthens the company's capital and liquidity position, supporting continued strategic growth.