Fool - Investing News·Oct 28, 2026
Old National: 3 Key Takeaways for Long-Term InvestorsExpense discipline is funding technology investments while the bank prioritizes organic growth over large acquisitions.
Old National's earnings base has expanded sharply since the First Midwest merger, with net interest income rising from $388.4M in Q2 2024 to $584.3M in Q3 2026 and the efficiency ratio improving from 65.7% in Q3 2025 to 49.9% in Q3 2026, suggesting operating leverage is building.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Net interest income more than doubled to $584.3M in Q3 2026 from $388.4M in Q2 2024 and EPS of $0.67 reflects a merger-driven step-change, though the fee share of revenue fell from 20.5% in Q2 2025 to 16.0% in Q2 2026, suggesting net interest income growth has outpaced fee expansion.
Old National Bancorp has demonstrated strong revenue growth, with a 30.60% increase in revenue in 2025 compared to the previous year, reaching $2.30 billion. This significant growth reflects the bank's robust operational performance and market positioning.
Earnings have also seen substantial growth, increasing by 24.87% in 2025. The company has shown accelerating earnings growth over the past year, exceeding its 5-year average, indicating strong profitability trends.
ONB has achieved a record efficiency ratio of 45.7%, indicating effective cost management. This strong operational efficiency supports the bank's profitability and competitive positioning in the market.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 21, 2026 | $0.66-0.2% vs $0.66 | $720M-1.7% vs $732M |
Q3 2026 Jul 22, 2026 | $0.65+3.8% vs $0.63 | $727M+1.5% vs $716M |
Q2 2026 Apr 22, 2026 | $0.61+0.8% vs $0.60 | $703M-0.5% vs $706M |
Q1 2026 Jan 21, 2026 | $0.62+5.1% vs $0.59 | $714M+1.2% vs $706M |
Expense discipline is funding technology investments while the bank prioritizes organic growth over large acquisitions.
Old National Bank is proud to announce that Chairman and CEO James “Jim” C.
NEW YORK, Oct. 22, 2026 (GLOBE NEWSWIRE) -- (NASDAQ: ONB) – Old National Bancorp (“Old National”) has been named the award winner in the “Best Innovation in Digital Client Experience” category for the 2026 Impact Awards in Wealth Management, presented by Datos Insights. The award was presented on Oct. 21 at the Wealth Management Forum in New York.
Old National Bancorp is upgraded from Hold to a soft Buy as valuation becomes appealing and asset quality strengthens. ONB's organic deposit and loan growth, especially in commercial real estate, signals healthy expansion post-acquisitions. Cost-cutting measures have driven net income growth, despite a decline in net interest margin and some non-interest income categories.
Benchmark ONB against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Old National Bancorp (ONB)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $24.93 | $9.63B | 9.92 | 32.47% | 34.36% | 11.31% | 2.32% | |
| $151.27 | $10.2B | 11.20 | 11.23% | 31.57% | 12.54% | 1.66% | |
| $36.31 | $748.21M | 11.25 | 4.57% | 29.92% | 13.61% | 2.85% | |
| $30.41 | $4.36B | 15.02 | 16.23% | 42.9% | 15.14% | 2.43% | |
| $15.47 | $31.26B | 12.72 | 10.58% | 24% | 8.17% | 3.9% | |
| $17.90 | $6.37B | 10.46 | 10.59% | 33.01% | 8.93% | 2.69% |
Old National Bancorp (ONB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Old National Bancorp (ONB) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 21, 2026·SEC
Aug 12, 2026·SEC
Aug 5, 2026·SEC
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Old National Bancorp (ONB) stock FAQ — growth, dividends, profitability & financials explained
Old National Bancorp (ONB) grew revenue by 21.4% over the trailing twelve months, compared with the twelve months before.
Yes. Old National Bancorp (ONB) earned $957.7M in net income over the trailing twelve months (a 34.4% net margin).
Yes. Old National Bancorp (ONB) pays a dividend that yields 2.32% at the current price, a moderate yield.
Old National Bancorp (ONB) had a return on equity (ROE) of 11.3% over the trailing twelve months. That is in line with the market's typical 10-15%.
Old National Bancorp (ONB) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.
Old National Bancorp (ONB) has an efficiency ratio of 59.5%. This is reasonable for a bank.
