Q1 2026 Old National Bancorp Earnings Call Transcript
Key Points
- Old National Bancorp (ONB) reported first-quarter earnings that exceeded internal expectations and analyst estimates.
- The company demonstrated robust loan growth, driven by a strong core deposit franchise and disciplined funding management.
- ONB achieved a record adjusted efficiency ratio, placing it in the top decile of the industry.
- The company maintained solid credit performance, supported by healthy liquidity and capital levels.
- ONB successfully returned capital to shareholders, repurchasing shares and maintaining a high payout ratio.
- Net interest income faced pressure due to typical seasonality and recent sub-debt issuance.
- The operating environment remains uncertain with a higher for longer rate outlook.
- Noninterest-bearing deposits declined slightly, partly due to seasonal factors.
- The competitive deposit environment remains intense, impacting deposit costs.
- The company faces challenges in balancing capital levels with potential regulatory changes and industry expectations.
Ladies and gentlemen, welcome to the Old National Bancorp first-quarter earnings conference call. This call is being recorded and has been made accessible to the public in accordance with the SEC's Regulation FD. Corresponding presentation slides can be found on the Investor Relations page at oldnational.com and will be archived there for 12 months.
Management would like to remind everyone that certain statements on today's call may be forward-looking in nature and are subject to certain risks, uncertainties and other factors that could cause actual results or outcomes to differ from those discussed. The company refers you to its forward-looking statement legend in the earnings release and presentation slides.
The company's risk factors are fully disclosed and discussed within its SEC filings. In addition, certain slides containing non-GAAP measures, which management believes provide more appropriate comparisons. These non-GAAP measures are intended to assist investors' understanding of performance trends. Reconciliations for these numbers are contained within the appendix of the
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