Old National Bancorp reports solid Q1 results amid strong loan growth

Old National Bancorp (NASDAQ:ONB) reported first-quarter 2026 net income applicable to common shares of $229.6 million, or $0.59 per diluted share.

On an adjusted basis, the Evansville, Indiana-based bank earned $237.7 million, or $0.61 per share, slightly outpacing analyst expectations as robust loan production helped offset a tightening interest rate environment.

The bank’s net interest income on a fully taxable equivalent (FTE) basis stood at $580.4 million, while the net interest margin (NIM) contracted by 10 basis points to 3.55%.

Despite the margin pressure typical of the current regional banking landscape, Old National saw significant balance sheet momentum.

Total loans reached $49.8 billion, an increase of $970.9 million, representing an 8% annualized growth rate, driven largely by commercial and industrial lending.

Meanwhile, credit quality remained a cornerstone of the quarter's results, with nonaccrual loans as a percentage of total loans improving to 1.03%.

Additionally, the company’s efficiency ratio hit 48.3%, while the adjusted efficiency ratio of 45.7% reflected continued cost synergies following the successful integration of its recent partnerships.