Old National Bancorp reported third-quarter 2024 net income applicable to common shares of $139.8 million, with diluted earnings per share (EPS) of $0.44. On an adjusted basis, net income was $147.2 million, and adjusted diluted EPS reached $0.46.
Net interest income on a fully taxable equivalent (FTE) basis increased by 1% quarter-over-quarter to $398 million, and was up 4% year-over-year. The net interest margin (FTE) for the quarter was 3.32%, a modest decrease of 1 basis point from the previous quarter.
The company demonstrated strong balance sheet fundamentals, with total deposits growing 8.5% on an annualized basis and total loans increasing 2.7% annualized. Old National's Common Equity Tier 1 (CET1) capital ratio stood at 11.00%, and tangible common book value was $11.97 per share.
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