Old Natl Bancorp Pref Share ONBPP 7.0 PERP 08/20/25 | 8-K: FY2025 Q4 Revenue: USD 690.59 M

Revenue: As of FY2025 Q4, the actual value is USD 690.59 M.

EPS: As of FY2025 Q4, the actual value is USD 0.55.

EBIT: As of FY2025 Q4, the actual value is USD -309.31 M.

Net Income

• Net income applicable to common shares was $212.6 million for the fourth quarter of 2025 and $653.1 million for the full-year 2025.
• Adjusted net income applicable to common shares was $241.0 million for the fourth quarter of 2025 and $808.6 million for the full-year 2025.

Revenue

• Net interest income (fully taxable equivalent basis) was $588.8 million for the fourth quarter of 2025, an increase from $582.6 million in the third quarter of 2025. For the full-year 2025, it was $2,086,285 thousand, up from $1,555,297 thousand in 2024.
• Total noninterest income was $109.7 million for the fourth quarter of 2025. Excluding a $15.9 million pre-tax loss associated with the termination of the Bremer pension plan, it was $125.6 million, compared to $130.5 million in the third quarter of 2025. For the full-year 2025, it was $466,531 thousand, up from $354,697 thousand in 2024.
  • Wealth and investment services fees were $39,012 thousand for 4Q25.
  • Service charges on deposit accounts were $27,516 thousand for 4Q25.
  • Debit card and ATM fees were $13,178 thousand for 4Q25.
  • Mortgage banking revenue was $11,053 thousand for 4Q25.
  • Capital markets income was $13,080 thousand for 4Q25.
  • Company-owned life insurance was $7,099 thousand for 4Q25.
  • Other income was - $1,252 thousand for 4Q25.
  • Debt securities gains (losses), net were $73 thousand for 4Q25.

Operational Metrics

• Net Interest Margin (fully taxable equivalent basis) was 3.65% for the fourth quarter of 2025, an increase of 1 basis point. For the full-year 2025, it was 3.54%, compared to 3.31% in 2024.
• Pre-provision net revenue (PPNR) was $312.3 million for the fourth quarter of 2025.
• Adjusted PPNR was $349.6 million for the fourth quarter of 2025, up 4%. For the full-year 2025, it was $1,200,328 thousand, up from $872,066 thousand in 2024.
• Noninterest expense was $386.3 million for the fourth quarter of 2025. For the full-year 2025, it was $1,485,291 thousand, up from $1,094,423 thousand in 2024.
• Adjusted noninterest expense was $364.8 million for the fourth quarter of 2025, compared to $376.5 million in the third quarter of 2025. For the full-year 2025, it was - $1,347,402 thousand, compared to - $1,038,140 thousand in 2024.
• Efficiency ratio was 51.6% for the fourth quarter of 2025. For the full-year 2025, it was 55.1%, compared to 55.9% in 2024.
• Adjusted efficiency ratio was 46.0% for the fourth quarter of 2025, compared to 48.1% in the third quarter of 2025. For the full-year 2025, it was 48.8%, compared to 52.2% in 2024.
• Provision for credit losses was $32.7 million for the fourth quarter of 2025, compared to $26.7 million in the third quarter of 2025. For the full-year 2025, it was $197,721 thousand, compared to $110,619 thousand in 2024.
• Net charge-offs (NCOs) were $32.1 million, or 27 basis points (bps) of average loans, for the fourth quarter of 2025, compared to 24 bps in the third quarter of 2025. Excluding purchased credit deteriorated (PCD) loans, net charge-offs were 16 bps, compared to 17 bps in the third quarter of 2025. For the full-year 2025, NCOs were 0.25% of average loans, compared to 0.17% in 2024.
• Income tax expense was $54.9 million for the fourth quarter of 2025, resulting in an effective tax rate of 20.2%.

Deposits and Funding

• Period-end total deposits were $55.1 billion, up 0.6% annualized, while core deposits were down 3.2% annualized.
• Average total deposits were $55.1 billion for the fourth quarter of 2025, up $0.2 billion.
• Total deposit costs were 180 bps, down 17 bps, and the cost of total interest-bearing deposits decreased 19 bps to 2.38%.
• The loan to deposit ratio was 89%.

Loans and Credit Quality

• End-of-period total loans were $48.8 billion, up $768.8 million or 6.4% annualized, with commercial and industrial loan growth of $477.5 million.
• Total commercial loan production was $3.5 billion in the fourth quarter of 2025, up 25%.
• Period-end commercial pipeline was $4.8 billion, up 15%.
• Average total loans were $48.2 billion in the fourth quarter of 2025, consistent with the third quarter of 2025.
• 30+ day delinquencies were 0.22% of total loans, compared to 0.18% in the third quarter of 2025.
• Nonaccrual loans were 1.07% of total loans, compared to 1.23% in the third quarter of 2025.
• Allowance for credit losses (ACL) was $605.2 million, or 1.24% of total loans, compared to $604.5 million, or 1.26% of total loans, in the third quarter of 2025.

Capital

• Return on average tangible common equity (ROATCE) was 17.8% for the fourth quarter of 2025, with adjusted ROATCE at 19.9%.
• Preliminary regulatory Tier 1 common equity to risk-weighted assets was 11.08%, up 6 bps.
• Preliminary total risk-based capital was 12.85%, up 7 bps.
• Preliminary regulatory Tier 1 capital was 11.53%, up 4 bps.
• Tangible common equity to tangible assets was 7.72%, up 2.5%.
• The Company repurchased 1.1 million shares of common stock during the quarter.

Notable Items

• Pre-tax merger-related charges amounted to $24.5 million.
• A pre-tax pension plan loss was $15.9 million.
• A pre-tax reduction to previously accrued FDIC special assessment was $3.0 million.

Outlook / Guidance

• Old National Bancorp Depositary Shs Repr 1/40th 7% Non-Cum Red Perp Pfd Rg Series A will make a slide presentation detailing its financial outlook accessible on its Investor Relations website on January 21, 2026.