Old National Bancorp posts record Q3 earnings on loan and deposit growth
Old National Bancorp reported record Q3 net income of $249.96 mln and adjusted EPS of $0.66, helped by loan and deposit growth, according to Reuters.
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what happened
US regional lender Old National Bancorp reported record third-quarter net income, with adjusted earnings per share at $0.66. According to Reuters, citing the company's press release and LSEG data, net interest income rose on high-quality loan and deposit growth, partly offset by higher deposit costs.
Period-end deposits climbed 10.6% annualized and loans grew 2.9% annualized. The bank bought back $100 mln of common stock during the quarter. Noninterest income fell 9.1% from the previous quarter after an elevated level of other income in the second quarter. Management credited the record efficiency ratio to disciplined expense control. The company did not give specific guidance for the current or future periods.
why it matters
For the regional bank sector, two signals stand out: steady growth in loans and deposits alongside tight cost control. The median 12-month analyst price target is $29.00, about 14.4% above the October 20 close of $25.34. The shares recently traded at 9 times next-12-month earnings.
market impact
US banks: strong profit and loan growth support sentiment for regional bank stocks
tags
instruments
sources
- Old National Bancorp Q3 net interest income rises on loan growth — Reuters, 21 October 2026 at 11:08 UTC
- Parke Bancorp's Q3 net income rises, helped by loan growth — Reuters, 21 October 2026 at 12:43 UTC
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