Old National Bancorp (ONB) investor relations material

Executive summary

• Record Q3 net income of $254M; diluted and adjusted EPS were both $0.66, with adjusted EPS up 12% YoY.

• Record efficiency ratios: 46.1% reported and 44.9% adjusted; positive operating leverage continued for an eighth consecutive quarter.

• Loan and deposit growth supported balance-sheet expansion and lower wholesale borrowings; credit metrics remained in normalized ranges.

• Strategy emphasized profitable relationship growth, core-deposit funding, disciplined pricing and underwriting, and investment in technology, talent and processes.

Financial highlights

• FTE net interest income was $592.0M, up 1% QoQ and 2% YoY; FTE NIM was 3.52%, down 2 bps QoQ and 12 bps YoY.

• Net income applicable to common shares was $250.0M; GAAP diluted EPS was $0.66, including a $0.9M pension settlement gain and $0.7M of merger charges.

• Noninterest expense was $355.4M and adjusted expense was $354.7M, down from $360.1M in Q2; adjusted noninterest income was $128M.

• Total revenue (FTE) was $720M; provision for credit losses was $33.6M, versus $27M in 3Q25.

• Nine-month net income applicable to common shares was $729.0M, diluted EPS was $1.90, and FTE net interest income was $1.759B.

Outlook and guidance

• FY26 guidance remains unchanged: FTE NII ~$2.4B ±2%; noninterest income $515M-$525M; noninterest expense $1.435B-$1.455B.

• Guidance targets >15% YoY EPS growth, positive operating leverage and 6%-8% end-period loan growth; full-year results are expected to produce record EPS.

• FY26 net charge-off ratio guidance is 0.25%-0.30%; provision for credit losses $135M-$145M; GAAP/adjusted FTE tax rates 22%/24%.

• NII is expected near the lower end of its range, with 4Q NII dollars expected to rise from 3Q and margin potentially improving modestly; expense is expected near the lower end of guidance.

• Assumptions include no Fed rate actions in 4Q26, competitive deposit pricing and relatively stable funding mix; 4Q mid-single-digit loan growth would place FY growth near the lower end of its range.