Old National Bancorp (ONB) announced record financial results for the third quarter of 2026, highlighted by record net income and a record adjusted efficiency ratio. The company demonstrated strong balance sheet growth with an 11% annualized increase in total deposits, while also returning significant capital to shareholders through stock repurchases and dividends. Management confirmed that the full-year 2026 financial outlook remains unchanged.
Key Details
- Record Earnings: Reported Q3 2026 net income of $254 million, or $0.66 adjusted EPS, an increase of 12% year-over-year. The company also achieved a record adjusted efficiency ratio of 44.9%.
- Capital Return: Returned a total of $155 million to common shareholders during the quarter, comprising $100 million in share repurchases (3.9 million shares) and $55 million in cash dividends.
- Balance Sheet & Outlook: Total deposits grew 11% annualized, while total loans grew 3% annualized. The company reaffirmed its full-year 2026 guidance for loan growth, net interest income, and expenses.