Old National Bank
ONB Nasdaq Regional Banks Financials FY2016–FY2025
Old National Bank's revenue rose 33.9% to $2.5 billion in fiscal 2025. Net income was $669 million, up 24.1%. Its return on equity was 9.0%, about the same as 9.1% a year earlier. Its efficiency ratio was 58.8%, up from 58.0% a year earlier. It paid out $297 million in dividends and buybacks. The diluted share count rose 17.5%.
Revenue
Total sales reported in the income statement.
$2.5B
33.9%
vs prior year
Efficiency ratio
Noninterest expense as a share of revenue. Lower is better for banks.
58.8%
0.8 pts
Net income
Profit after all expenses, interest and tax.
$669M
24.1%
Return on equity
Net income as a share of average shareholders' equity.
9.0%
0.0 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$9.3B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
13.0x
On $1.95 EPS (TTM)
What Old National Bank does
No business description yet.
- Legal name
- Old National Bancorp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- —
- Accession · CIK
- 0000707179-26-000010
0000707179
Revenue and margins
Old National Bank had $2.5B of revenue in fiscal 2025, up 33.9% on the year before.
FY16
Revenue $656M
FY17
Revenue $621M
FY18
Revenue $733M
FY19
Revenue $804M
FY20
Revenue $835M
FY21
Revenue $811M
FY22
Revenue $1.7B
FY23
Revenue $1.8B
FY24
Revenue $1.9B
FY25
Revenue $2.5B
Q2 '23
Revenue $464M
Q3 '23
Revenue $456M
Q4 '23
Revenue $465M
Q1 '24
Revenue $434M
Q2 '24
Revenue $476M
Q3 '24
Revenue $486M
Q4 '24
Revenue $490M
Q1 '25
Revenue $481M
Q2 '25
Revenue $647M
Q3 '25
Revenue $705M
Q4 '25
Revenue $691M
Q1 '26
Revenue $695M
FY16
Net interest share 61.4%
Efficiency ratio 69.3%
FY17
Net interest share 70.5%
Efficiency ratio 72.3%
FY18
Net interest share 73.4%
Efficiency ratio 70.6%
FY19
Net interest share 75.2%
Efficiency ratio 63.3%
FY20
Net interest share 71.4%
Efficiency ratio 64.3%
FY21
Net interest share 73.6%
Efficiency ratio 61.9%
FY22
Net interest share 76.9%
Efficiency ratio 60.1%
FY23
Net interest share 81.9%
Efficiency ratio 55.9%
FY24
Net interest share 81.2%
Efficiency ratio 58.0%
FY25
Net interest share 81.5%
Efficiency ratio 58.8%
Net interest share
Efficiency ratio
Q2 '23
Net interest share 82.4%
Efficiency ratio 53.2%
Q3 '23
Net interest share 82.3%
Efficiency ratio 53.7%
Q4 '23
Net interest share 78.5%
Efficiency ratio 61.2%
Q1 '24
Net interest share 82.1%
Efficiency ratio 60.4%
Q2 '24
Net interest share 81.7%
Efficiency ratio 59.5%
Q3 '24
Net interest share 80.6%
Efficiency ratio 56.0%
Q4 '24
Net interest share 80.5%
Efficiency ratio 56.5%
Q1 '25
Net interest share 80.5%
Efficiency ratio 55.8%
Q2 '25
Net interest share 79.5%
Efficiency ratio 59.4%
Q3 '25
Net interest share 81.5%
Efficiency ratio 63.2%
Q4 '25
Net interest share 84.1%
Efficiency ratio 55.9%
Q1 '26
Net interest share 82.4%
Efficiency ratio 52.5%
Net interest share
Efficiency ratio
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 6.1% a year. Loss periods are shown in red.
FY16
Net income $134M
FY17
Net income $95.7M
FY18
Net income $191M
FY19
Net income $238M
FY20
Net income $226M
FY21
Net income $278M
FY22
Net income $428M
FY23
Net income $582M
FY24
Net income $539M
FY25
Net income $669M
Q2 '23
Net income $155M
Q3 '23
Net income $148M
Q4 '23
Net income $133M
Q1 '24
Net income $120M
Q2 '24
Net income $121M
Q3 '24
Net income $144M
Q4 '24
Net income $154M
Q1 '25
Net income $145M
Q2 '25
Net income $125M
Q3 '25
Net income $183M
Q4 '25
Net income $217M
Q1 '26
Net income $234M
FY16
Diluted EPS $1.05
FY17
Diluted EPS $0.69
FY18
Diluted EPS $1.22
FY19
Diluted EPS $1.38
FY20
Diluted EPS $1.36
FY21
Diluted EPS $1.67
FY22
Diluted EPS $1.50
FY23
Diluted EPS $1.94
FY24
Diluted EPS $1.68
FY25
Diluted EPS $1.79
Q2 '23
Diluted EPS $0.52
Q3 '23
Diluted EPS $0.49
Q4 '23
Diluted EPS $0.44
Q1 '24
Diluted EPS $0.40
Q2 '24
Diluted EPS $0.37
Q3 '24
Diluted EPS $0.44
Q4 '24
Diluted EPS $0.47
Q1 '25
Diluted EPS $0.44
Q2 '25
Diluted EPS $0.34
Q3 '25
Diluted EPS $0.46
Q4 '25
Diluted EPS $0.56
Q1 '26
Diluted EPS $0.59
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
FY16
ROE 8.1%
ROTE 13.0%
Efficiency ratio 69.3%
FY17
ROE 4.8%
ROTE 7.7%
Efficiency ratio 72.3%
FY18
ROE 7.9%
ROTE 12.8%
Efficiency ratio 70.6%
FY19
ROE 8.6%
ROTE 13.7%
Efficiency ratio 63.3%
FY20
ROE 7.8%
ROTE 12.1%
Efficiency ratio 64.3%
FY21
ROE 9.3%
ROTE 14.2%
Efficiency ratio 61.9%
FY22
ROE 10.5%
ROTE 17.0%
Efficiency ratio 60.1%
FY23
ROE 10.9%
ROTE 18.2%
Efficiency ratio 55.9%
FY24
ROE 9.1%
ROTE 14.4%
Efficiency ratio 58.0%
FY25
ROE 9.0%
ROTE 13.4%
Efficiency ratio 58.8%
ROE
ROTE
Efficiency ratio
Dividends, buybacks and share count
Old National Bank returned $297M to shareholders in fiscal 2025. The diluted share count rose 17.5%.
FY16
Dividends $67.5M
Buybacks $2.0M
FY17
Dividends $72.6M
Buybacks $2.8M
FY18
Dividends $82.2M
Buybacks $1.8M
FY19
Dividends $89.5M
Buybacks $102M
FY20
Dividends $92.9M
Buybacks $82.4M
FY21
Dividends $92.8M
Buybacks $3.7M
FY22
Dividends $178M
Buybacks $71.2M
FY23
Dividends $180M
Buybacks $44.3M
FY24
Dividends $191M
Buybacks $8.9M
FY25
Dividends $225M
Buybacks $71.8M
Dividends
Buybacks
Q2 '23
Dividends $45.0M
Buybacks $0.1M
Q3 '23
Dividends $45.0M
Buybacks $0.5M
Q4 '23
Dividends $45.0M
Buybacks $0.0M
Q1 '24
Dividends $45.1M
Buybacks $7.2M
Q2 '24
Dividends $48.7M
Buybacks $1.3M
Q3 '24
Dividends $48.7M
Buybacks $0.3M
Q4 '24
Dividends $48.7M
Buybacks $0.1M
Q1 '25
Dividends $48.7M
Buybacks $13.5M
Q2 '25
Dividends $58.9M
Buybacks $8.0M
Q3 '25
Dividends $58.9M
Buybacks $25.2M
Q4 '25
Dividends $58.6M
Buybacks $25.1M
Q1 '26
Dividends $60.1M
Buybacks $104M
Dividends
Buybacks
FY16
Diluted shares 0.13B
FY17
Diluted shares 0.14B
FY18
Diluted shares 0.16B
FY19
Diluted shares 0.17B
FY20
Diluted shares 0.17B
FY21
Diluted shares 0.17B
FY22
Diluted shares 0.28B
FY23
Diluted shares 0.29B
FY24
Diluted shares 0.31B
FY25
Diluted shares 0.37B
Value Old National Bank yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Earnings multiple
Value per share
—
Reference multiples: today 13.0x · peers 11.7x · sector 13.7x.
Balance sheet
Loans, deposits and capital at each fiscal year end.
FY16
Loans $9.0B
Deposits $10.7B
FY17
Loans $11.1B
Deposits $12.6B
FY18
Loans $12.2B
Deposits $14.3B
FY19
Loans $12.1B
Deposits $14.6B
FY20
Loans $13.7B
Deposits $17.0B
FY21
Loans $13.5B
Deposits $18.6B
FY22
Loans $30.8B
Deposits $35.0B
FY23
Loans $32.7B
Deposits $37.2B
FY24
Loans $35.9B
Deposits $40.8B
FY25
Loans $48.2B
Deposits $55.1B
Loans
Deposits
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | $13.5B | $30.8B | $32.7B | $35.9B | $48.2B |
| Deposits | $18.6B | $35.0B | $37.2B | $40.8B | $55.1B |
| Loans / deposits | 72.7% | 88.1% | 87.8% | 87.9% | 87.5% |
| Total assets | $24.5B | $46.8B | $49.1B | $53.6B | $72.2B |
| Shareholders' equity | $3.0B | $5.1B | $5.6B | $6.3B | $8.5B |
| Goodwill | $1.0B | $2.0B | $2.0B | $2.2B | $2.4B |
| Intangible assets | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Provision / loans | −0.2% | 0.7% | 0.2% | 0.3% | 0.5% |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$51.6M
3 insiders
Of sales under plans
97%
$50.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | Chady M. AlahmarCEO, Wealth Management | Sold | 11,771 | $26.41 | $0.3M | Form 4 |
| Jul 28, 2026 | Nicholas J ChulosChief Legal Officer & Corp Sec | Sold | 20,000 | $26.66 | $0.5M | Form 4 |
| Feb 26, 2026 | Otto Bremer Trust10% owner | Sold plan | 1,926,782 | $25.95 | $50.0M | Form 4 |
| Feb 3, 2026 | Nicholas J ChulosChief Legal Officer & Corp Sec | Sold | 30,000 | $25.05 | $0.8M | Form 4 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Old National Bank ONB | $9.3B | 33.9% | — | — | — | 13.0x | — | |
| UMB Financial UMBF | $10.0B | 62.8% | — | — | — | 11.3x | — | Compare → |
| South State Bank SSB | $10.7B | 56.1% | — | — | — | 11.1x | — | Compare → |
| Wintrust Financial WTFC | $10.2B | 11.2% | — | — | — | 12.1x | — | Compare → |
| Columbia Banking System COLB | $7.4B | 19.3% | — | — | — | 12.1x | — | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $656M | $621M | $733M | $804M | $835M | $811M | $1.7B | $1.8B | $1.9B | $2.5B |
| Net interest income | $403M | $437M | $538M | $604M | $596M | $596M | $1.3B | $1.5B | $1.5B | $2.1B |
| Noninterest income | $253M | $183M | $195M | $199M | $239M | $214M | $400M | $333M | $355M | $467M |
| Noninterest expense | $454M | $449M | $517M | $509M | $537M | $501M | $1.0B | $1.0B | $1.1B | $1.5B |
| Provision for credit losses | — | — | $7.0M | $4.7M | $42.9M | −$29.6M | $145M | $58.9M | $111M | $198M |
| Pretax income | $200M | $169M | $209M | $290M | $256M | $339M | $545M | $751M | $680M | $841M |
| Income tax | $66.2M | $72.9M | $17.8M | $52.1M | $29.1M | $61.3M | $116M | $169M | $141M | $172M |
| Net income | $134M | $95.7M | $191M | $238M | $226M | $278M | $428M | $582M | $539M | $669M |
| Net income to common | $134M | $95.7M | $191M | $238M | $226M | $278M | $414M | $566M | $523M | $653M |
| Diluted EPS | $1.05 | $0.69 | $1.22 | $1.38 | $1.36 | $1.67 | $1.50 | $1.94 | $1.68 | $1.79 |
| Diluted shares | 0.13B | 0.14B | 0.16B | 0.17B | 0.17B | 0.17B | 0.28B | 0.29B | 0.31B | 0.37B |
| Cash flow | ||||||||||
| Stock-based compensation | $7.3M | $6.3M | $8.1M | $8.0M | $7.7M | $7.5M | $28.7M | $27.9M | $32.3M | $38.2M |
| Share buybacks | $2.0M | $2.8M | $1.8M | $102M | $82.4M | $3.7M | $71.2M | $44.3M | $8.9M | $71.8M |
| Dividends paid | $67.5M | $72.6M | $82.2M | $89.5M | $92.9M | $92.8M | $178M | $180M | $191M | $225M |
| Dividends and buybacks | $69.6M | $75.4M | $84.0M | $192M | $175M | $96.6M | $249M | $224M | $200M | $297M |
| Balance sheet | ||||||||||
| Loans, net | $9.0B | $11.1B | $12.2B | $12.1B | $13.7B | $13.5B | $30.8B | $32.7B | $35.9B | $48.2B |
| Deposits | $10.7B | $12.6B | $14.3B | $14.6B | $17.0B | $18.6B | $35.0B | $37.2B | $40.8B | $55.1B |
| Goodwill | $655M | $828M | $1.0B | $1.0B | $1.0B | $1.0B | $2.0B | $2.0B | $2.2B | $2.4B |
| Intangible assets | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Total assets | $14.9B | $17.5B | $19.7B | $20.4B | $23.0B | $24.5B | $46.8B | $49.1B | $53.6B | $72.2B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $231M | $231M | $231M | $231M |
| Shareholders' equity | $1.8B | $2.2B | $2.7B | $2.9B | $3.0B | $3.0B | $5.1B | $5.6B | $6.3B | $8.5B |
| Margins | ||||||||||
| Net margin | 20.5% | 15.4% | 26.0% | 29.6% | 27.1% | 34.2% | 24.8% | 31.7% | 28.6% | 26.5% |
| Net interest share of revenue | 61.4% | 70.5% | 73.4% | 75.2% | 71.4% | 73.6% | 76.9% | 81.9% | 81.2% | 81.5% |
| Efficiency ratio | 69.3% | 72.3% | 70.6% | 63.3% | 64.3% | 61.9% | 60.1% | 55.9% | 58.0% | 58.8% |
| Returns | ||||||||||
| Return on equity | 8.1% | 4.8% | 7.9% | 8.6% | 7.8% | 9.3% | 10.5% | 10.9% | 9.1% | 9.0% |
| Return on assets | 1.0% | 0.6% | 1.0% | 1.2% | 1.0% | 1.2% | 1.2% | 1.2% | 1.1% | 1.1% |
| Return on tangible equity | 13.0% | 7.7% | 12.8% | 13.7% | 12.1% | 14.2% | 17.0% | 18.2% | 14.4% | 13.4% |
| Growth | ||||||||||
| Revenue growth | 9.9% | −5.3% | 18.1% | 9.6% | 4.0% | −3.0% | 113.1% | 6.3% | 2.7% | 33.9% |
| Net income growth | 15.0% | −28.7% | 99.4% | 24.8% | −5.0% | 22.6% | 54.3% | 35.9% | −7.4% | 24.1% |
| EPS growth | 5.0% | −34.3% | 76.8% | 13.1% | −1.5% | 22.8% | −10.2% | 29.3% | −13.4% | 6.6% |
| Share count change | 10.4% | 8.0% | 13.0% | 10.3% | −3.8% | −0.2% | 66.8% | 5.5% | 6.6% | 17.5% |
| Financial health | ||||||||||
| Loans / deposits | 83.4% | 87.8% | 84.9% | 82.9% | 80.2% | 72.7% | 88.1% | 87.8% | 87.9% | 87.5% |
| Provision / loans | — | — | 0.1% | 0.0% | 0.3% | −0.2% | 0.7% | 0.2% | 0.3% | 0.5% |
| Capital allocation | ||||||||||
| Stock comp / revenue | 1.1% | 1.0% | 1.1% | 1.0% | 0.9% | 0.9% | 1.7% | 1.5% | 1.7% | 1.5% |
Source: SEC EDGAR XBRL filings (CIK 0000707179). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.