Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 199

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 199
---
098,971 $817,599 Deduct:  Intangible amortization expense52,644 20,291 Adjusted noninterest expense (1)$1,046,327 $797,308 Net interest income - taxable equivalent basis (1)    (see above)$1,497,440 $1,155,340 Noninterest income356,772 258,931 Deduct:  Debt securities gains (losses), net(110)(90)Adjusted total revenue (1)$1,854,322 $1,414,361 Efficiency ratio (1)56.43 %56.37 %Tangible common equity to tangible assets:Tangible shareholders’ equity (1) (see above)$5,138,592 $3,818,495 Assets$71,210,162 $53,602,293 Deduct:  Goodwill and intangible assets2,926,960 2,305,084 Tangible assets (1)$68,283,202 $51,297,209 Tangible common equity to tangible assets (1)7.53 %7.44 %

(1)Represents a non-GAAP financial measure.

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

60

EXECUTIVE SUMMARY

Old National is the sixth largest commercial bank headquartered in the Midwest by asset size and ranks among the top 25 banking companies headquartered in the United States with consolidated assets of $71.2 billion at September 30, 2025. The Company’s corporate headquarters and principal executive office are located in Evansville, Indiana with commercial and consumer banking operations headquartered in Chicago, Illinois. Through our wholly owned banking subsidiary and non-bank affiliates, we provide a wide range of services primarily throughout the Midwest and Southeast regions of the United States. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services.

Net income applicable to common shares for the third quarter of 2025 was $178.5 million, or $0.46 per diluted common share, compared to $121.4 million, or $0.34 per diluted common share, for the second quarter of 2025.

Results for the third quarter of 2025 were impacted by $69.3 million in pre-tax merger-related expenses. Results for the second quarter of 2025