Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 94

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 94
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 Average earning assets$46,981,267 $43,095,730 Net interest margin (1)3.31 %3.54 %Efficiency ratio:Noninterest expense$1,094,423 $1,026,306 Deduct:  Intangible amortization expense27,528 24,155 Adjusted noninterest expense (1)$1,066,895 $1,002,151 Net interest income – taxable equivalent basis (1) (see above)$1,555,297 $1,526,581 Noninterest income354,697 333,342 Deduct:  Debt securities gains (losses), net(212)(6,265)Adjusted total revenue (1)$1,910,206 $1,866,188 Efficiency ratio (1)55.85 %53.70 %Tangible common equity to tangible assets:Tangible shareholders’ equity (1) (see above)$3,800,533 $3,218,215 Assets$53,552,272 $49,089,836 Deduct:  Goodwill and intangible assets2,296,098 2,100,966 Tangible assets (1)$51,256,174 $46,988,870 Tangible common equity to tangible assets (1)7.41 %6.85 %

(1)Represents a non-GAAP financial measure.

(2)Calculated using management’s estimate of the annual fully taxable equivalent rates (federal and state).

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RESULTS OF OPERATIONS

The following table sets forth certain income statement information of Old National:

Years Ended December 31,(dollars in thousands, except per share data)202420232022Income Statement Summary:Net interest income$1,530,783 $1,503,153 $1,327,936 Provision for credit losses110,619 58,887 144,799 Noninterest income354,697 333,342 399,779 Noninterest expense1,094,423 1,026,306 1,038,183 Net income applicable to common shareholders523,053 565,857 414,169 Net income per common share – diluted1.68 1.94 1.50 Other Data:Return on average common equity9.06 %11.29 %8.92 %Return on