Company: ONBPP
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000707179-25-000064
Chunk: 233

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 233
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 Deduct:  Debt securities gains (losses), net7 (41)(76)(122)(76)Adjusted total revenue (1)$713,038 $654,411 $486,873 $495,845 $492,082 Efficiency ratio (1)58.84 %55.80 %53.74 %54.37 %53.83 %Tangible common equity to tangible assets:Tangible shareholders’ equity (1) (see above)$5,138,592 $4,938,296 $4,001,667 $3,800,533 $3,818,495 Assets$71,210,162 $70,979,805 $53,877,944 $53,552,272 $53,602,293 Deduct:  Goodwill and intangible assets2,926,960 2,944,372 2,289,268 2,296,098 2,305,084 Tangible assets (1)$68,283,202 $68,035,433 $51,588,676 $51,256,174 $51,297,209 Tangible common equity to tangible assets (1)7.53 %7.26 %7.76 %7.41 %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).

59

The following table presents GAAP to non-GAAP reconciliations for the year-to-date periods:

Nine Months Ended September 30,(dollars and shares in thousands, except per share data)20252024Net income per common share:Net income applicable to common shares$440,533 $373,214 Adjustments:Merger-related charges116,336 29,208 Debt securities (gains) losses110 90 CECL Day 1 non-PCD provision expense75,604 15,312 Pension plan gain(21,001)— Distribution of excess pension assets expense— 13,318 FDIC special assessment— 2,994 Separation expense— 2,646 Less: tax effect on net total adjustments (2)(43,969)(14,717)Net income applicable to common shares, adjusted (1)$567,