The raised loan growth and fee income guidance, combined with record profitability and strong capital returns, reinforce a positive fundamental trajectory. Monitor upcoming quarters for continued operating leverage and credit quality trends, particularly given the raised loan growth outlook.
Price Chart
Executive Summary
Old National Bancorp filed an 8-K with an investor presentation for Q2 2026, highlighting record adjusted EPS of $0.65, record adjusted efficiency ratio of 45.2%, and peer-leading profitability metrics. The presentation also raised full-year 2026 loan growth guidance to 6%-8% YoY and noninterest income guidance to ~$515-$525 million, while maintaining expense guidance. The filing is a routine investor update with strong quantitative results, but no new material non-public information was disclosed.
Key Facts
- Record adjusted EPS of $0.65 in Q2 2026, up 23% YoY
- Record adjusted efficiency ratio of 45.2%
- Adjusted ROATCE of 19.9%, peer-leading
- Total loan growth of $1.0 billion, 8.3% annualized
- TBV per share up 14% YoY to $14.32
- Repurchased $107 million of common stock in Q2; $277 million authorization remaining
- Raised full-year 2026 loan growth guidance to 6%-8% YoY (from 4%-6%)
- Raised full-year 2026 noninterest income guidance to ~$515-$525 million (from ~$485-$505 million)
- Net interest income (FTE) of $586 million in Q2, up 12% YoY
- Net income applicable to common shares of $249 million, up 104% YoY
Financial Impact
Record quarterly results with EPS up 91% YoY to $0.65; raised full-year loan growth and fee income guidance
Risk Factors
- Net interest margin declined 1 bp QoQ to 3.54%
- Total deposit costs remain elevated at 171 bps
- HTM securities have $376 million in pre-tax unrealized losses
- Credit quality normalization could increase provision expenses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-053527 |
| Document: onb-20260805.htm | 0001628280-26-053527 |
| Document: 0001628280-26-053527-index-headers.html | 0001628280-26-053527 |
| Document: 0001628280-26-053527-index.html | 0001628280-26-053527 |
| Document: 0001628280-26-053527.txt | 0001628280-26-053527 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $26.67 $25.98 | ▼ −2.59% | ▼ −3.19% | $24.96 (−6.41%) |
Jul 31, 2026 9w ago | Insider Cluster | $26.64 $25.85 | ▼ −2.97% | ▼ −5.95% | $24.96 (−6.31%) |
Jul 31, 2026 9w ago | Insider Cluster | $26.64 $25.85 | ▼ −2.97% | ▼ −5.95% | $24.96 (−6.31%) |
Jul 22, 2026 10w ago | 8-K | $26.39 $25.91 | ▼ −1.82% | ▼ −4.72% | $24.96 (−5.42%) |
Jul 7, 2026 12w ago | Press Release | $26.43 $26.85 | ▼ −1.59% | ▼ −0.26% | $24.96 (+5.56%) |
May 28, 2026 18w ago | Press Release | $24.00 $25.88 | ▲ +7.83% | ▲ +10.98% | $24.96 (+4.00%) |
May 13, 2026 20w ago | Press Release | $23.45 $25.14 | ▲ +7.22% | ▲ +8.08% | $24.96 (+6.45%) |
May 13, 2026 20w ago | Press Release | $23.45 $25.14 | ▲ +7.22% | ▲ +8.08% | $24.96 (+6.45%) |
Apr 22, 2026 23w ago | Press Release | $24.02 $23.15 | ▼ −3.62% | ▼ −6.79% | $24.96 (+3.91%) |
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