Old National Bancorp (ONB) Investor presentation summary

Third-quarter performance

• Q3’26 net income $254M; net income to common shareholders $250M; diluted EPS $0.66 and adjusted EPS $0.66, up 12% YoY.

• Adjusted ROATCE 19.6% and adjusted ROAA 1.37%; adjusted efficiency ratio reached a record 44.9%, 321 bps better YoY.

• Eighth consecutive quarter of positive YoY operating leverage; adjusted noninterest expense $355M, down 6% YoY, while adjusted noninterest income was $128M, down 2%.

• FTE net interest income was $592M, up 1% QoQ; FTE NIM was 3.52%, down 2 bps QoQ and 12 bps YoY.

Balance sheet and franchise

• Loans reached $51.2B, up 7% YoY; Q3 growth was $362M, or 3% annualized, including C&I growth of $148M and CRE growth of $157M.

• Deposits were $57.6B, up 11% annualized QoQ; total deposit cost was 179 bps, up 8 bps QoQ, and noninterest-bearing deposits were 22% of core deposits.

• Commercial production totaled $3.0B, 86% floating at 5.9%; the commercial pipeline was $4.4B, up 6% YoY.

• 63% of loans were variable or floating rate, with 94% repricing within three months; $3.4B of net balance-sheet hedges protect downside risk.

Credit and capital

• Net charge-offs were 27 bps, or 24 bps excluding PCD loans; criticized and classified loans declined 9%, while delinquencies and nonaccruals were in normalized ranges.

• Allowance for credit losses was $612M, or 1.20% of total loans; reserves included ~5% coverage on remaining PCD loans, and $38M of credit discount remained on Bremer non-PCD loans.

• CET1 was 11.11%, up 2 bps QoQ; $155M was returned to shareholders through $100M in repurchases and $55M in dividends, with $177M of repurchase authorization remaining.

• Tangible book value per share was $13.77, up 5% YoY; excluding the $391M rate-driven AOCI decline, TBV per share increased 13% annualized.