Old National’s record 2nd quarter net income increases 43% from a year ago to $63.0 million, or $0.36 per share

Old National Bancorp (NASDAQ: ONB) reports 2Q19 net income of $63.0 million, diluted EPS of $0.36. Adjusted1 net income of $64.5 million, or $0.37 per diluted share.

“This was a quarter that saw Old National report record net income, strong loan production, good fee income and excellent credit metrics, all of which allowed us to continue to generate positive operating leverage,” said CEO Jim Ryan. “While loan prepayments and planned exits impacted overall balance sheet growth, activity levels were robust, and we successfully converted our KleinBank-Minnesota branches during the quarter. Our granular loan portfolio and low-risk profile again resulted in very low credit costs, and Old National remains on a high-performance path.”