Old National Bancorp reported record third quarter 2026 results, characterized by a significant revenue beat and inline earnings. The bank achieved a record efficiency ratio of 46.1% and saw strong growth in its deposit base despite rising funding costs.
Key Highlights
- Record net income applicable to common shares reached $250.0 million, or $0.66 per diluted share, meeting analyst expectations.
- Total GAAP revenue of $712.7 million significantly outperformed the estimated $542.8 million, driven by robust net interest income.
- Period-end total deposits grew 10.6% annualized to $57.6 billion, while total loans increased 2.9% annualized to $51.2 billion.
- Credit quality remained stable with net charge-offs at 27 basis points of average loans and nonaccrual loans at 0.92% of total loans.
- The company returned $155 million to shareholders during the quarter through $100 million in share repurchases and $55 million in dividends.