Company: ONBPP
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000707179-25-000009
Chunk: 163

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 8
Chunk 163
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28 %Efficiency ratio:Noninterest expense$268,471 $276,824 $272,283 $282,999 $262,317 Deduct:  Intangible amortization expense6,830 7,237 7,411 7,425 5,455 Adjusted noninterest expense (1)$261,641 $269,587 $264,872 $275,574 $256,862 Net interest income - taxable equivalent basis (1)    (see above)$393,003 $399,957 $397,868 $394,761 $362,711 Noninterest income93,794 95,766 94,138 87,271 77,522 Deduct:  Debt securities gains (losses), net(76)(122)(76)2 (16)Adjusted total revenue (1)$486,873 $495,845 $492,082 $482,030 $440,249 Efficiency ratio (1)53.74 %54.37 %53.83 %57.17 %58.34 %Tangible common equity to tangible assets:Tangible shareholders’ equity (1) (see above)$4,001,667 $3,800,533 $3,818,495 $3,525,149 $3,256,178 Assets$53,877,944 $53,552,272 $53,602,293 $53,119,645 $49,534,918 Deduct:  Goodwill and intangible assets2,289,268 2,296,098 2,305,084 2,306,204 2,095,511 Tangible assets (1)$51,588,676 $51,256,174 $51,297,209 $50,813,441 $47,439,407 Tangible common equity to tangible assets (1)7.76 %7.41 %7.44 %6.94 %6.86 %

(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).

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EXECUTIVE SUMMARY

Old National is the sixth largest commercial bank headquartered in the Midwest by asset size and ranks among