NASDAQ$ONB

Old National Bancorp · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Old National reported record net income driven by commercial loan growth.

Old National Bancorp reported a Q4 2021 net income of $56.2 million, with a diluted EPS of $0.34. The quarter's results were influenced by merger-related charges. Excluding these charges, the adjusted net income stood at $60.9 million, or $0.37 per diluted share. Strong commercial production resulted in 6.9% annualized commercial loan growth.

  • Net income was $56.2 million, or $0.34 per diluted share.
  • Net interest income on a fully taxable equivalent basis was $150.2 million.
  • Total commercial loans increased by $162.5 million, excluding PPP loans.
  • Period-end total loans were $13,637.3 million.

Headline financials

Total Revenue

$198M

Previous: $220M-9.7%
EPS (adj)

$0.37

Previous: $0.46-19.6%
Efficiency ratio

64.3%

Previous: 62.4%+3.0%
Adjusted efficiency

60.0%

Previous: 56.4%+6.4%
Net interest margin

2.8%

Previous: 3.3%-15.0%
ROATCE

12.1%

Previous: 16.6%-27.2%
Capital Expenditures

$7.92M

Previous: $4.01M+97.7%
Free Cash Flow

$57.8M

Previous: $131M-55.8%
Net Income

$56.2M

Previous: $74.1M-24.2%
Operating Income

$68.2M

Previous: $78.4M-13.0%
Gross Profit

$198M

Previous: $220M-9.7%
Cash & Equivalents

$627M

Previous: $590M+6.4%
Total Assets

$24.5B

Previous: $23B+6.5%
Stock-Based Comp

$1.98M

Previous: $1.75M+13.4%

Revenue & EPS history

Old National · Revenue · Quarterly

$198M

Q4 2021-9.7%vs Q4 2020
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Old National · $30.6M total across 5 segments · Q4 2021

  • Wealth mgmt. fees
    $9.83M+6.2%
  • Mortgage banking
    $7.34M-54.8%
  • Capital markets
    $6.39M-2.3%
  • Other income
    $4.3M+11.3%
  • Life insurance income
    $2.74M-13.2%

Forward guidance

This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to Old National’s future plans, objectives, performance, revenues, growth, profits, operating expenses or Old National’s underlying assumptions

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.0%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+2.6%

Avg return

30 days after

54%

37 / 69 earnings

Positive

+10.8%

Q2 2020

Best reaction

-8.0%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.0%-0.1%+0.6%
Q4 2025+4.9%+3.4%+10.0%
Q3 2025+0.4%+0.5%+2.0%
Q2 2025-1.0%-1.3%+3.8%
Q1 2025+3.8%+8.5%+8.1%
Q4 2024+2.2%+0.6%+4.5%
Q3 2024+0.2%-0.8%+12.1%
Q2 2024+0.5%+2.3%-5.5%
Q1 2024+0.8%+0.7%+1.6%
Q4 2023-0.4%+1.2%-1.9%
Q3 2023-3.8%-1.9%+5.6%
Q2 2023+9.4%+7.9%-2.5%
Q1 2023+0.9%-0.7%-5.6%
Q4 2022-6.4%-6.0%-0.9%
Q3 2022+4.0%+5.7%+2.8%
Q2 2022+4.7%+7.3%+7.8%
Q1 2022-1.0%-1.6%+3.0%
Q4 2021-3.7%-6.9%-12.0%
Q3 2021+3.9%+3.9%+7.0%
Q2 2021+1.1%-0.4%+1.2%
Q1 2021-3.0%+0.4%+0.8%
Q4 2020+1.0%+1.3%-0.4%
Q3 2020+3.5%+7.0%+18.7%
Q2 2020+10.8%+7.8%+8.9%
Q1 2020-1.0%-0.9%-2.4%
Q4 2019-2.5%-1.7%-1.5%
Q3 2019+4.0%+5.4%+5.9%
Q2 2019+3.2%+5.4%+1.3%
Q1 2019+0.6%+0.9%-1.4%
Q4 2018-3.7%-0.8%+6.3%
Q3 2018-6.5%-9.3%-3.0%
Q2 2018+3.9%+1.5%+5.2%
Q1 2018+7.4%+4.2%+7.4%
Q4 2017-3.5%-5.2%-5.7%
Q3 2017+1.1%+0.8%-5.1%
Q2 2017-2.1%-3.3%-2.1%
Q1 2017-1.4%-3.7%-6.6%
Q4 2016+3.2%+2.3%+8.0%
Q3 2016+0.5%-0.2%+18.6%
Q2 2016-0.1%+4.2%+7.6%
Q1 2016-4.6%
Q4 2015-8.0%
Q3 2015-3.2%
Q2 2015+0.7%
Q1 2015-4.7%
Q4 2014+0.4%
Q3 2014+8.2%
Q2 2014-2.1%
Q1 2014+0.1%
Q4 2013-3.9%
Q3 2013-2.6%
Q2 2013-1.2%
Q1 2013-5.1%
Q4 2012+3.7%
Q3 2012-7.2%
Q2 2012+1.0%
Q1 2012+0.5%
Q4 2011-0.5%
Q3 2011-3.1%
Q4 2009-4.7%
Q2 2011-4.7%
Q4 2010-4.7%
Q1 2010-0.8%
Q1 2011+1.8%
Q4 2008+1.0%
Q3 2009+2.0%
Q3 2010+2.0%
Q2 2010+1.3%
Q2 2009+1.3%

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