Company: ONBPP
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000707179-25-000005
Chunk: 93

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 93
---
857 Adjustments:Merger-related charges37,325 28,716 CECL Day 1 non-PCD provision expense15,312 — Distribution of excess pension assets expense13,318 — FDIC special assessment2,994 19,052 Separation expense2,646 — Debt securities (gains) losses212 6,265 Gain on sale of Visa Class B restricted shares— (21,635)Contract termination charge— 4,413 Louisville expenses— 3,361 Property optimization charges— 1,559 Less: tax effect on net total adjustments (2)(16,806)(8,361)Net income applicable to common shares, adjusted (1)$578,054 $599,227 Weighted average diluted common shares outstanding311,001 291,855 Net income per common share, diluted$1.68 $1.94 Adjusted net income per common share, diluted (1)$1.86 $2.05 Tangible common book value:Shareholders’ common equity$6,096,631 $5,319,181 Deduct:  Goodwill and intangible assets2,296,098 2,100,966 Tangible shareholders’ common equity (1)$3,800,533 $3,218,215 Period end common shares318,980 292,655 Tangible common book value (1)11.91 11.00 Return on average tangible common equity:Net income applicable to common shares$523,053 $565,857 Add:  Intangible amortization (net of tax) (2)20,646 18,116 Tangible net income (1)$543,699 $583,973 Average shareholders’ common equity$5,776,011 $5,010,594 Deduct:  Average goodwill and intangible assets2,237,738 2,112,924 Average tangible shareholders’ common equity (1)$3,538,273 $2,897,670 Return on average tangible common equity (1)15.37 %20.15 %Net interest margin:Net interest income$1,530,783 $1,503,153 Taxable equivalent adjustment24,514 23,428 Net interest income – taxable equivalent basis (1)$1,555,297 $1,526,581