Company: ONBPP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000707179-25-000018
Chunk: 87

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 87
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, Bremer had approximately $16.3 billion of total assets, $11.1 billion of total loans, and $12.9 billion of deposits. The consideration paid totaled $1.3 billion and consisted of 50.2 million shares of Old National common stock and $314.6 million of cash. The majority of system conversions related to the acquisition are anticipated to be completed in mid-October 2025.

RESULTS OF OPERATIONS

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

(dollars in thousands, except   per share data)Three Months EndedJune 30,%ChangeSix Months EndedJune 30,%Change2025202420252024Income Statement Summary:Net interest income$514,790 $388,421 32.5 %$902,433 $744,879 21.2 %Provision for credit losses106,835 36,214 195.0 138,238 55,105 150.9 Noninterest income132,517 87,271 51.8 226,311 164,793 37.3 Noninterest expense384,766 282,999 36.0 653,237 545,316 19.8 Net income applicable to common   shareholders121,375 117,196 3.6 262,000 233,446 12.2 Net income per common share -    diluted0.34 0.37 (8.1)0.77 0.77 — Other Data:Return on average common equity6.74 %8.17 %7.83 %8.45 %Return on average tangible common    equity (1)12.00 14.07 13.39 14.48 Efficiency ratio (1)55.80 57.17 54.92 57.73 Tier 1 leverage ratio9.26 8.90 9.26 8.90 Net charge-offs to average loans0.24 0.16 0.24 0.15 

(1)Represents a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” section for reconciliations to GAAP financial measures.

Net Interest Income

Net interest income is the most significant component of our earnings, comprising 80% of