Old National quarterly net income rises to $249.4 million

• Old National Bancorp achieved $249.4 million in second-quarter net income with a diluted EPS of $0.65.
• The bank expanded its financial portfolio by growing total loans to $50.8 billion during the period.
• Management announced an enhanced executive leadership structure to support its ongoing operational strategy.

Old National Bancorp (NASDAQ:ONB) reported second-quarter net income of $249.4 million alongside a diluted EPS of $0.65.

This bottom-line result was supported by a net interest income increase to $586.5 million with a 3.54 percent margin.

The regional bank expanded its credit portfolio as total loans increased by $1.0 billion to reach $50.8 billion.

Noninterest income reached $153.6 million for the period, which included a one-time $13.2 million pension gain.

Highlighting its updated operating structure, following the announcement the Old National share price was unchanged at $XX.

The financial institution maintained its credit quality with nonaccrual loans representing 0.91 percent of total loans.

Management prioritized capital distribution by repurchasing $107 million of common stock during the three-month period.