0000707179-26-000010
SEC filingOld National Bancorp reported strong financial results for fiscal year 2025, with total assets of $72.15 billion and net income of $669.3 million. The company generated $3.27 billion in total interest income and $466.5 million in noninterest income, resulting in net interest income of $2.06 billion. After accounting for $197.7 million in provision for credit losses and $1.49 billion in noninterest expenses, the company achieved income before taxes of $841.4 million. Net income applicable to common shareholders was $653.1 million, with earnings per share of $2.00 (basic and diluted). The company maintained a solid balance sheet with $55.09 billion in total deposits and $8.49 billion in shareholders' equity, while generating $681.5 million in operating cash flow. These results demonstrate the company's ability to maintain profitability while managing credit risk and operating expenses effectively.
Old National Bancorp reported solid financial performance for fiscal year 2025, ending December 31, 2025. The company achieved net income of $669.3 million, with net income applicable to common shareholders of $653.1 million after accounting for $16.1 million in preferred dividends. Earnings per common share were $2.00 for both basic and diluted calculations. The company's revenue was driven by $3.27 billion in total interest income, offset by $1.21 billion in total interest expense, resulting in net interest income of $2.06 billion. Noninterest income contributed $466.5 million, while noninterest expenses totaled $1.49 billion. The provision for credit losses was $197.7 million, reflecting the company's assessment of credit risk in its loan portfolio.
The company's revenue streams were primarily composed of interest income from loans and investments, supplemented by various noninterest income sources. Interest income totaled $3.27 billion, with the largest components being $2.62 billion from taxable loans and $492.9 million from taxable investment securities. Noninterest income of $466.5 million included wealth and investment services fees of $144.2 million, service charges on deposit accounts of $100.4 million, debit card and ATM fees of $49.3 million, mortgage banking revenue of $38.4 million, and capital markets income of $37.3 million. Other income contributed $70.3 million, while debt securities showed minimal net losses of -$37K.
The company maintained profitability through effective management of its interest spread and noninterest expenses. Net interest income of $2.06 billion represented the difference between $3.27 billion in interest income and $1.21 billion in interest expense. The largest interest expense components were deposits at $953.2 million and Federal Home Loan Bank advances at $214.9 million. Noninterest expenses of $1.49 billion were led by salaries and employee benefits at $749.0 million, technology at $120.5 million, occupancy at $129.2 million, and amortization of intangibles at $78.7 million. Income before taxes was $841.4 million, with income tax expense of $172.1 million.
The company generated $681.5 million in operating cash flow, primarily from net income of $669.3 million adjusted for various non-cash items including depreciation of $44.9 million, amortization of other intangible assets of $78.7 million, and provision for credit losses of $197.7 million. Investing activities used $1.83 billion in cash, mainly for purchases of investment securities available-for-sale of $4.64 billion, partially offset by proceeds from sales and maturities. Financing activities provided $1.75 billion in cash, driven by net increase in deposits of $1.40 billion and proceeds from Federal Home Loan Bank advances of $2.73 billion. The balance sheet showed total assets of $72.15 billion, including net loans of $48.19 billion and investment securities of $14.28 billion. Total liabilities were $63.66 billion, with shareholders' equity of $8.49 billion.
The filing provides comprehensive financial data for fiscal year 2025 but does not include specific forward-looking guidance, management commentary on strategic priorities, or detailed risk factors beyond the standard financial disclosures. The financial statements demonstrate the company's operational performance and financial position as of the reporting period end, with the cash flow statement showing the company's ability to generate operating cash flow while investing in securities and managing its financing activities. The balance sheet reflects a well-capitalized institution with substantial loan and investment portfolios supported by a strong deposit base.