Old National Bancorp reported fourth-quarter 2024 net income applicable to common shares of $149.8 million, with diluted earnings per share (EPS) of $0.47. Adjusted net income for the quarter was $156.0 million, and adjusted diluted EPS was $0.49.
For the full year 2024, net income applicable to common shares totaled $523.1 million, resulting in diluted EPS of $1.68. On an adjusted basis, full-year net income was $578.1 million, and adjusted diluted EPS reached $1.86.
Fourth-quarter net interest income on a fully taxable equivalent (FTE) basis increased by 1% quarter-over-quarter to $400 million, while the net interest margin (FTE) was 3.30%, a decrease of 2 basis points from the prior quarter. Total loans decreased 1.6% annualized in Q4, and total deposits remained stable.
The company's Common Equity Tier 1 (CET1) capital ratio improved to 11.38% at year-end 2024, reflecting a strong capital position. Tangible common book value was $11.91 per share, indicating solid equity growth.
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