What factors drove the changes in Old National Pref C ADR's revenue and profit?

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

What is Old National Pref C ADR's latest dividend and current dividend yield?

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

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?

- **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

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