Old National Bancorp Reports $249.4 Million Net Income in Q2 2026

Old National Bancorp reported significant financial growth in its latest quarterly results, with net income applicable to common shareholders reaching $249.4 million for the second quarter of 2026, a substantial increase from $121.4 million in the same period last year. This translates to a diluted earnings per share of $0.65, compared to $0.34 in the prior year. The bank's total revenue for the quarter was bolstered by a 12.5% increase in net interest income, which amounted to $579 million, driven by strong loan growth and stable deposit pricing.

The bank's total assets grew to $74.2 billion as of June 30, 2026, up from $72.2 billion at the end of 2025, reflecting a robust increase in both loans and deposits. Total loans reached $50.8 billion, marking an 8% annualized growth, while total deposits increased by 3% to $56.1 billion. The growth in loans was particularly notable in the commercial sector, which saw an increase of $1.1 billion, or 7.5%, compared to the previous period.

Operationally, Old National has continued to integrate the assets and liabilities acquired from Bremer Financial Corporation, which it merged with in May 2025. The merger has contributed to the bank's growth, with Bremer's loans totaling $11.2 billion at the time of acquisition. The bank's noninterest income also saw a 15.9% increase year-over-year, reaching $153.6 million, driven by higher fees from wealth management and capital markets services.

In terms of credit quality, the provision for credit losses decreased significantly to $36.2 million from $106.8 million a year earlier, reflecting improved asset quality and effective management of credit risk. The allowance for credit losses on loans was $580.5 million, representing 1.14% of total loans. The bank's nonaccrual loans decreased to $461.7 million, indicating a proactive approach to managing its loan portfolio.

Looking ahead, Old National Bancorp remains optimistic about its growth trajectory, supported by strong loan production and disciplined expense management. The bank's capital ratios remain robust, with a Tier 1 capital ratio of 11.53% and a total capital ratio of 13.65%, both exceeding regulatory requirements. The management anticipates continued growth in both loans and deposits, alongside a focus on maintaining strong credit quality and operational efficiency.