What is the market's earnings forecast for Old National Pref C ADR next quarter?

What were the key takeaways from Old National Pref C ADR’s earnings call?

What guidance did Old National Pref C ADR's management provide for the next earnings period?

What is Old National Pref C ADR's gross profit margin?

Did Old National Pref C ADR beat or miss consensus estimates last quarter?

What does Old National Pref C ADR do and what are its main business segments?

What is the revenue and EPS growth rate for Old National Pref C ADR year over year?

What were the key takeaways from Old National Pref C ADR's earnings call?

- **Record Q3 Performance**: Adjusted EPS of $0.59 (11% Q/Q growth), driven by Bremer integration, margin expansion, and fee income.
- **Credit Strength**: 6% decline in criticized/classified loans, delinquencies down 12bps, and stable credit reserves.
- **Efficiency & Capital**: 48% efficiency ratio, CET1 at 11.3%, and 1.1M shares repurchased late in the quarter.
- **Bremer Integration**: Systems conversion completed smoothly; $200M strategic loan runoff expected to stabilize.
- **2026 Outlook**: Loan growth 4-5% (ex-Bremer), NII stable to improving, and capital returns to accelerate.

**【CEO Summary Section】**
- Reported strong third-quarter results, including revenue growth across all major income statement line items.
- Highlighted improved credit metrics: 6% decline in criticized/classified loans, reduced delinquencies, and stable allowance for credit losses.
- Emphasized focus on organic growth, efficiency (below 50% efficiency ratio), and capital management (CET1 at 11.3%).
- Announced 1.1 million share buyback late in the quarter, signaling confidence in capital generation.
- Discussed successful Bremer Bank systems conversion and integration, with no major disruptions.

**【CFO Financial Commentary】**
- GAAP EPS: $0.46; Adjusted EPS: $0.59 (11% Q/Q growth, 28% YoY growth).
- Net Interest Income (NII): $585 million (stable vs. Q2, +$5 million below prior guidance due to 5-year Treasury rate dynamics).
- Deposit Growth: 4.8% annualized, core deposits up 5.8% (noninterest-bearing deposits 24% of total).
- Loan Growth: Excluding Bremer, +3.1% annualized; Bremer loans declined $200 million due to strategic runoff.
- Fee Income: $130 million (up 12% YoY), driven by capital markets and mortgage businesses.
- Efficiency Ratio: 48% (improving trend).
- Capital: CET1 +28bps Q/Q to 11.3%, tangible book value up 4% Q/Q.

**【Q&A Key Highlights】**
- **Loan Growth Guidance**: Full-year 2025 loan growth (ex-Bremer) 4-5%; Q4 guidance includes Bremer.
- **Capital Allocation**: Buyback 1.1M shares in Q3; expect continued balance between organic growth and returns.
- **Bremer Integration**: $70M merger-related costs in Q3, $50M in Q4; full cost savings ($115M annualized) visible in Q1 2026.
- **Credit Outlook**: Stable to improving; 60% of NPLs from acquired books with appropriate reserves.
- **NII Expectations**: Stable to improving in Q4; 2026 NII growth dependent on yield curve steepening.
- **Deposit Strategy**: Proactive client acquisition with 85% beta to rate cuts; 5.8% brokered deposits (below peer median).
- **M&A Posture**: No active deals; focus on organic growth and talent investment.


Old National Bancorp (ONB) Q3 2025 Earnings Call Transcript

- **EPS Growth**: Adjusted EPS of $0.53 (18% Q/Q, 15% YoY) driven by margin expansion and cost control.
- **Capital Strength**: CET1 ratio of 10.74% (50 bps above expectations) supports balance sheet flexibility.
- **CRE Strategy**: Retained $2.4 billion in CRE loans, offsetting lower purchase marks and enhancing 2026 EPS outlook.
- **Cautious Growth**: Full-year loan growth guided to 4-6% (lower end due to competitive CRE market).
- **Tech Investment**: New CIO to enhance wealth and treasury platforms; AI and data infrastructure upgrades planned.

**【Management Opening Remarks】**
- Q2 2025 revenue exceeded guidance, driven by organic growth and the early close of the Bremer partnership in May 2025.
- Adjusted EPS of $0.53 (18% Q/Q growth, 15% YoY) reflects strong margin expansion and cost control.
- CET1 ratio of 10.74% exceeded expectations, with tangible book value (TBV) up 14% YoY despite Bremer-related impacts.
- Credit quality improved: criticized/classified assets reduced by 9% (excluding Bremer), and allowance for credit losses (ACL) increased by 8 bps to 1.24%.
- Retained $2.4 billion in CRE loans previously flagged for sale, offsetting lower purchase accounting marks and enhancing 2026 EPS outlook.

**【CFO Financial Commentary】**
- **Revenue Growth**: 
  - Loans grew $11.5 billion (3.7% annualized ex Bremer), with C&I up 4.6% annualized.
  - Deposits increased $13.3 billion (88% loan-to-deposit ratio), with noninterest-bearing deposits at 25% of core.
- **Profitability**: 
  - Net interest income (NII) and margin expanded due to Bremer integration and repositioned securities portfolio.
  - Fee income up 11% YoY, driven by wealth, mortgage, and capital markets.
  - Operating expenses maintained 2% YoY growth, enabling positive leverage.
- **Capital Management**: 
  - CET1 of 10.74% (50 bps above expectations) supports balance sheet flexibility.
  - Annualized cash flow from Bremer securities portfolio: $2.3 billion.

**【Q&A Highlights】**
- **Loan Growth Outlook**: 
  - Full-year organic loan growth guided to 4-6% (lower end due to CRE competition).
  - C&I production rates remain strong (high 6% annualized).
- **Regulatory Environment**: 
  - Positive tone on deregulation, with focus on organic growth and mid-sized bank profitability.
- **Technology Investments**: 
  - New Chief Investment Officer (Matt Keane) to enhance wealth management and treasury management platforms.
  - AI and data infrastructure investments to support client ecosystem integration.
- **Bremer Integration**: 
  - Systems conversion on track for mid-October 2025; no material impact on rate risk position.


Old National Bancorp (ONB) Q2 2025 Earnings Call Transcript

- **Q1 2025 Outperformance**: Revenue growth driven by 1.5% loan growth and 1.7% core deposit expansion. Non-interest income up 5% Q/Q to $94M.
- **Bremer Integration Acceleration**: May 1 close enables earlier balance sheet expansion; day-1 CET1 >10% vs. 10.76% Y/Y.
- **Deposit Cost Efficiency**: 37% beta vs. peer 40%; exception-priced deposits down 103% since Q2 2024.
- **Credit Resilience**: Net charge-offs 24bps; allowance at 116bps with 150bps total credit cushion.
- **2025 Growth Catalysts**: Up to $2.4B CRE sales flexibility; 4-6% loan growth ex-Bremer; $1.7B securities cash flow.

**【CEO Opening Remarks】**
- Q1 2025 revenue exceeded expectations, driven by strong deposit franchise and loan growth. Net interest income and margin met expectations, while non-interest income benefited from loan sales and higher fees.
- Efficiency ratio improved due to disciplined expense management. Tangible book value increased 5% Q/Q and 13% Y/Y.
- Bremer Bank partnership approved for May 1 close, with systems conversion in mid-October. Expected to enhance Upper Midwest footprint and balance sheet flexibility.

**【CFO Financial Details】**
- GAAP EPS: $0.44; Adjusted EPS: $0.45 (excluding $0.01 merger charges). Non-interest income: $94M (up $4.8M from loan sales).
- Total loans grew 1.5% annualized; core deposits up 1.7% annualized. Deposit cost beta 37%, below peer average. CET1 ratio: 11.62% (up 86bps Y/Y).
- Credit metrics stable: net charge-offs 24bps, delinquency ratio improved. Allowance for credit losses at 116bps of loans.
- 2025 guidance: NII growth driven by Bremer integration, loan sales flexibility, and rate repricing. CET1 >10% post-close.

**【Q&A Highlights】**
- **Bremer Integration**: Earlier close (May 1 vs. July 1) allows faster balance sheet expansion. Day-1 capital higher than modeled, reducing planned loan sales ($2.4B guidance may decrease).
- **Deposit Strategy**: Exception-priced deposits down 103% since Q2 2024. Beta target 40% by Q2 2025. Brokered deposits <4% of total.
- **Loan Growth**: Pipeline up 30% Y/Y. C&I pull-through strong; CRE competitive but active. 2025 loan growth 4-6% ex-Bremer.
- **Economic Risks**: Global trade uncertainty factored into reserves. CET1 >10% provides buffer against macro volatility.
- **Capital Allocation**: Post-close focus on balance sheet flexibility vs. buybacks. Extra capital may support higher loan retention.

**【Key Financial Metrics】**
- Tangible Book Value: +5% Q/Q, +13% Y/Y
- CET1 Ratio: 11.62% (vs. 10.76% Y/Y)
- Deposit Beta: 37% (vs. 40% peer average)
- Loan-to-Deposit Ratio: 89% (stable Q/Q)
- CRE Loan Sales: $70M Q1 2025 (part of $2.4B guidance)

Old National Bancorp (ONB)-22 Apr 25-2025 Q1 Earnings call transcript

- **2024 Performance Standout**: Full-year adjusted EPS of $1.86 with 8% TBV growth, outpacing peers. 
- **Strategic Acquisitions**: CapStar Bank closed in H1 2024, Bremer partnership on track for mid-2025 close. 
- **Financial Discipline**: 52% efficiency ratio and 17 basis point NCOs highlight strong cost management. 
- **2025 Outlook**: 4-6% loan growth, stable NIM, and $110M AOCI improvement over 12 months. 
- **Capital Flexibility**: CET1 of 11.38% positions for growth and potential shareholder returns post-integration.

**【CEO Summary Section】**
- Old National reported strong 2024 results with full-year GAAP EPS of $1.68 and adjusted EPS of $1.86, driven by 10% growth in core deposits and loans. 
- The company completed the CapStar Bank acquisition and announced a partnership with Bremer Bank, targeting a July 2025 close. 
- Tangible book value per share grew 8% YoY, outperforming peers, with a CET1 ratio of 11.38%.
- Management emphasized disciplined expense control (adjusted efficiency ratio of 52%) and strong credit quality (net charge-offs of 17 basis points).

**【CFO Financial Commentary】**
- Q4 2024 GAAP EPS was $0.47, excluding $0.02 in merger charges, with adjusted EPS of $0.49. 
- Net interest income was stable, supported by 1.93% deposit cost and 93% down beta on exception price deposits. 
- Non-interest income of $96 million exceeded expectations, driven by wealth, mortgage, and bank fees. 
- 2025 guidance includes loan growth of 4-6%, stable to improving net interest margin, and $110 million AOCI improvement over 12 months.

**【Q&A Key Highlights】**
- **Loan Growth**: 2025 pipeline supports 4-6% growth, with $2.7 billion in new production offsetting $600M Q4 payoffs. 
- **Capital Allocation**: CET1 ratio at 11.38% provides flexibility for growth and potential buybacks post-Bremer integration. 
- **Deposit Strategy**: 28% Q4 deposit beta expected to accelerate to 40% in 2025, with 24% non-interest-bearing mix. 
- **Bremer Integration**: 100% cost savings projected for 2026, with $15M accretion in back half of 2025.

**【Leadership Updates】**
- COO Mark Sander to retire in June 2025, with search underway for successor. 
- Lead Independent Director Dan Hermann succeeds Becky Skillman, maintaining board continuity.


Old National Bancorp (ONB) Q4 2024 Earnings Call Transcript

Old National Bancorp (ONB)-22 Oct 24-2024 Q3 Earnings call transcript

Old National Bancorp (ONB)-23 Jul 24-2024 Q2 Earnings call transcript

Old National Bancorp (ONB)-23 Apr 24-2024 Q1 Earnings call transcript

Old National Bancorp (ONB)-23 Jan 24-2023 Q4 Earnings call transcript

Old National Bancorp (ONB)-24 Oct 23-2023 Q3 Earnings call transcript

Old National Bancorp (ONB)-25 Jul 23-2023 Q2 Earnings call transcript

Old National Bancorp (ONB)-25 Apr 23-2023 Q1 Earnings call transcript

Old National Bancorp (ONB)-24 Dec 22-2022 Q4 Earnings call transcript

Old National Bancorp (ONB)-25 Oct 22-2022 Q3 Earnings call transcript

Old National Bancorp (ONB)-26 Jul 22-2022 Q2 Earnings call transcript

Old National Bancorp (ONB)-26 Apr 22-2022 Q1 Earnings call transcript

Old National Bancorp (ONB)-18 Jan 22-2021 Q4 Earnings call transcript

Old National Bancorp (ONB)-19 Oct 21-2021 Q3 Earnings call transcript

Old National Bancorp (ONB)-20 Jul 21-2021 Q2 Earnings call transcript

Old National Bancorp (ONB)-19 Apr 21-2021 Q1 Earnings call transcript

Old National Bancorp (ONB)-19 Jan 21-2020 Q4 Earnings call transcript

Old National Bancorp (ONB)-19 Oct 20-2020 Q3 Earnings call transcript

Old National Bancorp (ONB)-20 Jul 20-2020 Q2 Earnings call transcript

Old National Bancorp (ONB)-20 Apr 20-2020 Q1 Earnings call transcript

Old National Bancorp (ONB)-21 Jan 20-2019 Q4 Earnings call transcript

Old National Bancorp (ONB)-21 Oct 19-2019 Q3 Earnings call transcript

Old National Bancorp (ONB)-22 Jul 19-2019 Q2 Earnings call transcript

Old National Bancorp (ONB)-22 Apr 19-2019 Q1 Earnings call transcript

Old National Bancorp (ONB)-22 Jan 19-2018 Q4 Earnings call transcript

Old National Bancorp (ONB)-22 Oct 18-2018 Q3 Earnings call transcript

Old National Bancorp (ONB)-23 Jul 18-2018 Q2 Earnings call transcript

Old National Bancorp (ONB)-23 Apr 18-2018 Q1 Earnings call transcript

Old National Bancorp (ONB)-24 Oct 17-2017 Q3 Earnings call transcript

ONBPO

ONBPO fundamentals

Earnings Call

You can ask Aime