Old National Bancorp (ONB) investor relations material

Strategic initiatives and integration progress

• Successfully closed the Bremer partnership on May 1, with integration set for October and positive progress reported.

• Expansion into Minnesota, North Dakota, and western Wisconsin is building scale and density in key markets.

• Focus on community banking and deep client relationships remains central, with Bremer's culture aligning well.

• Talent acquisition, especially in Tennessee, is a priority to capitalize on market opportunities and disruptions.

• Retail distribution in Nashville is subscale, prompting plans for further investment in that region.

Commercial sentiment and loan growth outlook

• Recent client surveys indicate increased optimism among commercial clients despite economic noise.

• Loan production and pipelines remain strong, with paydowns moderating and expectations for improved growth in the coming quarters.

• Organic loan growth is projected in the 5% to 7% range by 2026, aligning with mid-cap peers.

• C&I lending is a focus for future growth, with ongoing strength in CRE but a desire to accelerate C&I expansion.

Financial performance and capital management

• Increased outlook for net interest income and fee income, supported by a larger balance sheet and anticipated Fed rate cuts.

• $7 billion in fixed-rate assets are set to reprice, offering NIM growth opportunities if the yield curve steepens.

• Deposit growth strategy is aggressive but rational, with a focus on municipal deposits and competitive pricing.

• Capital ratios are stronger than expected post-Bremer, enabling faster capital return and potential share buybacks.

• Full cost savings and efficiency gains from the Bremer deal will be realized in Q1 next year.