Old National Bancorp Q4 EPS Misses, Adjusted EPS Beats as Revenue Jumps 40.9%

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Old National Bancorp reported Q4 GAAP EPS of $0.55 missing consensus $0.59 and revenue of $698.6M versus $706.2M estimates, while adjusted EPS of $0.62 beat forecasts. Fourth-quarter revenue climbed 40.9% year-over-year on acquisitions, net interest margin held at 3.65%, and nonaccrual loans rose to 1.07%.

1. Old National Wins Quavo Customer Confidence Award

Old National Bancorp has been named the recipient of the Customer Confidence Award in Quavo’s 2nd annual Trust in Banking Awards for 2026. The honor recognizes the bank with the highest satisfaction rate for client dispute resolution management. Quavo Client Account Manager Derrick Donsbach highlighted Old National’s excellence in fair dispute decisions, and COO Jeff Newcom emphasized the bank’s focus on resolving fraud and dispute concerns quickly and with care. As a leading AI-powered disputes technology partner, Quavo evaluates institutions on speed, provisional credit delivery, first-call resolution, digital process innovation and operational efficiency.

2. Q4 2025 Earnings Show Mixed Results

On January 21, 2026, Old National reported GAAP earnings per share of $0.55, below consensus of $0.59, and fourth-quarter revenue of $698.6 million, missing the $706.2 million estimate. On an adjusted basis, however, EPS was $0.62, topping expectations. Revenue in the period rose 40.9% year-over-year, largely driven by recent acquisitions, demonstrating positive momentum ahead of the January earnings release.

3. Profitability and Asset Quality Metrics

Old National’s net interest margin held steady at 3.65% on a fully taxable equivalent basis, reflecting sequential improvements in return metrics. Nonaccrual loans climbed to 1.07%, above regional peer averages, signaling potential pressure on asset quality. The company reported total assets of approximately $72 billion and assets under management of $37 billion as of year-end 2025.

4. Valuation and Investor Outlook

Investors value Old National at a trailing price-to-earnings ratio of about 13.5, with an earnings yield near 7.4%. The price-to-sales ratio stands at 3.4 and the enterprise-value-to-revenue multiple at 6.7, indicating a moderate premium relative to revenue generation. With strengthened dispute resolution capabilities and continued acquisition-driven revenue growth, Old National enters 2026 positioned to deepen client trust and drive shareholder returns.

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