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EVANSVILLE, Ind., Oct. 21, 2026 (GLOBE NEWSWIRE) --

Old National Bancorp (NASDAQ: ONB) reports 3Q26 net income applicable to common shares of $250.0 million, diluted EPS of $0.66; $249.7 million and $0.66 on an adjusted1 basis, respectively.  CEO COMMENTARY:

"With our strong 3rd quarter results, highlighted by record net income, a record efficiency ratio, and growth in both deposits and loans, Old National continues to demonstrate the strength and consistency of our operating model," said Chairman and CEO Jim Ryan. "Our disciplined focus on fundamentals continues to drive profitable growth, positive operating leverage, and meaningful value creation for our shareholders. As we look ahead, we remain very well positioned to build on this momentum and capitalize on opportunities across our growing franchise."  THIRD QUARTER HIGHLIGHTS2: Net Income Record net income applicable to common shares of $250.0 million; adjusted net income applicable to common shares1 of $249.7 millionEarnings per diluted common share ("EPS") of $0.66; record adjusted EPS1 of $0.66 Net Interest Income/NIM Net interest income on a fully taxable equivalent basis1 of $592.0 millionNet interest margin on a fully taxable equivalent basis1 ("NIM") of 3.52%, down 2 basis points ("bps") Operating Performance Pre-provision net revenue1 ("PPNR") of $365.0 million; adjusted PPNR1 of $364.8 millionNoninterest expense of $355.4 million; adjusted noninterest expense1 of $354.7 millionRecord efficiency ratio1 of 46.1%; record adjusted efficiency ratio1 of 44.9% Deposits and Funding Period-end total deposits of $57.6 billion, up 10.6% annualizedGranular low-cost deposit franchise; total deposit costs of 179 bps, up 8 bps; interest-bearing deposit costs of 231 bps, up 8 bps Loans and Credit Quality End-of-period total loans3 of $51.2 billion, up $362.3 million or 2.9% annualizedProvision for credit losses4 ("provision") of $33.6 millionNet charge-offs of $34.1 million, or 27 bps of average loans; 24 bps of average loans excluding purchased credit deteriorated ("PCD") loans that had an allowance at acquisition30+ day delinquencies of 0.25% and nonaccrual loans of 0.92% of total loans Return Profile & Capital Return on average tangible common equity1 ("ROATCE") of 19.6%; adjusted ROATCE1 of 19.6%Preliminary regulatory Tier 1 common equity to risk-weighted assets of 11.11%, up 2 bpsRepurchased $100 million, or 3.9 million shares, of common stock during the quarter Notable Items $0.9 million of pre-tax pension gain5$0.7 million of pre-tax merger-related charges    1 Non-GAAP financial measure that management believes is useful in evaluating the financial results of the Company – refer to the Non-GAAP reconciliations contained in this release     2 Comparisons are on a linked-quarter basis, unless otherwise noted     3 Includes loans held-for-sale     4 Includes the provision for unfunded commitments     5 Includes a gain associated with the settlement of the Bremer pension plan

RESULTS OF OPERATIONS2
Old National Bancorp reported record third quarter 2026 net income applicable to common shares of $250.0 million, or $0.66 per diluted common share.

Included in third quarter results was a $0.9 million pre-tax gain associated with the settlement of the Bremer pension plan and pre-tax charges of $0.7 million for merger-related expenses. Excluding these items and realized debt securities gains from the current quarter net of tax, adjusted net income1 was $249.7 million, or $0.66 per diluted common share.

DEPOSITS AND FUNDING
Increases in business and public funds.

Period-end total deposits were $57.6 billion, up 10.6% annualized.On average, total deposits for the third quarter were $56.9 billion, an increase of $1.3 billion.Granular low-cost deposit franchise; total deposit costs of 179 bps, up 8 bps.A loan to deposit ratio of 89%, combined with existing funding sources, provides strong liquidity. LOANS
Loan growth driven by high quality commercial loan production.

Period-end total loans3 were $51.2 billion, up $362.3 million or 2.9% annualized, including commercial and industrial growth of $148.0 million, as well as commercial real estate growth of $157.3 million.Period-end commercial pipeline totaled $4.4 billion, down 20% from record levels at the end of the second quarter and up 6% from a year ago.Average total loans in the third quarter were $51.1 billion, up 7.8% annualized. CREDIT QUALITY
Credit quality remains stable.

Provision4 expense was $33.6 million compared to $36.2 million.Net charge-offs were $34.1 million, or 27 bps of average loans, compared to 26 bps. Excluding PCD loans that had an allowance for credit losses established at acquisition, net charge-offs to average loans were 24 bps compared to 22 bps. 30+ day delinquencies as a percentage of loans were 0.25% compared to 0.29%.Nonaccrual loans as a percentage of total loans were 0.92% compared to 0.91%.The allowance for credit losses, including the allowance for credit losses on unfunded loan commitments, stood at $611.5 million, or 1.20% of total loans, compared to $612.0 million, or 1.21% of total loans. NET INTEREST INCOME AND MARGIN
Earning asset growth and favorable rate/volume mix more than offset higher deposit costs.

Net interest income on a fully taxable equivalent basis1 increased to $592.0 million compared to $586.5 million, driven by high quality loan and deposit growth, partly offset by core deposit pricing and funding mix.Net interest margin on a fully taxable equivalent basis1 decreased 2 bps to 3.52%.Cost of total deposits was 1.79%, increasing 8 bps and the cost of total interest-bearing deposits increased 8 bps to 2.31%. NONINTEREST INCOME
Bank and wealth fees remained resilient as other income normalized from elevated second quarter levels.

Total noninterest income was $128.4 million compared to $153.6 million, or $127.5 million compared to $140.4 million excluding pre-tax gains associated with the settlement of the Bremer pension plan.Excluding the pension plan gains5 and realized debt securities gains, noninterest income was down 9.1% driven by approximately $10 million of elevated other income in the second quarter of 2026 due to market value adjustments, higher company-owned life insurance income and an asset recovery. NONINTEREST EXPENSE
Disciplined expense management drives record adjusted efficiency ratio.

Noninterest expense was $355.4 million and included $0.7 million of merger-related charges.Excluding merger related charges, adjusted noninterest expense1 decreased to $354.7 million, compared to $360.1 million.The efficiency ratio1 was a record at 46.1%, while the adjusted efficiency ratio1 was a record at 44.9% compared to 47.0% and 45.2%, respectively. INCOME TAXES

Income tax expense was $69.8 million, resulting in an effective tax rate of 21.6% compared to 21.8%. On an adjusted fully taxable equivalent ("FTE") basis1, the effective tax rate was 23.4% compared to 23.0%.Income tax expense included $9.5 million of tax credit benefit compared to $9.9 million. CAPITAL
CET1 held at 11.11% while funding earning asset growth and returning $155 million to shareholders.

Preliminary total risk-based capital down 6 bps to 13.59% and preliminary regulatory Tier 1 capital up 1 bps to 11.54%, as growth in loans and share repurchases is partly offset by strong retained earnings.Tangible common equity to tangible assets was 7.28% compared to 7.68%, driven by the $391 million impact of rates on other comprehensive income.The Company repurchased $100 million of common stock and paid $55 million of quarterly common stock cash dividends during the quarter resulting in a combined payout ratio of 62%. CONFERENCE CALL AND WEBCAST
Old National will host a conference call and live webcast at 9:00 a.m. Central Time on Wednesday, October 21, 2026, to review third quarter financial results. To listen to the live conference call, dial U.S./International (833) 461-5787, meeting ID 244 307 806. The live audio webcast link and corresponding presentation slides will be available on the Company’s Investor Relations website at oldnational.com and the webcast replay will be available approximately two hours after completion of the call until midnight ET on October 21, 2027.

ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $74 billion of assets and $41 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2026, Points of Light named Old National one of "The Civic 50" for the third consecutive year – an honor recognizing the 50 most community-minded companies in the United States – and also named Old National the Financials Sector Leader among nominated banks and financial services organizations.

USE OF NON-GAAP FINANCIAL MEASURES
The Company's accounting and reporting policies conform to U.S. generally accepted accounting principles ("GAAP") and general practices within the banking industry. As a supplement to GAAP, the Company provides non-GAAP performance results, which the Company believes are useful because they assist investors in assessing the Company's operating performance. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables at the end of this release.

The Company presents EPS, the efficiency ratio, return on average common equity, return on average tangible common equity, pre-provision net revenue and net income applicable to common shares, all adjusted for certain notable items. These items include a pension plan gain/loss, merger-related charges associated with completed and pending acquisitions, realized debt securities gains/losses, distribution of excess pension assets expense, FDIC special assessment expense, and CECL Day 1 non-PCD provision expense. Management believes excluding these items from EPS, the efficiency ratio, return on average common equity, and return on average tangible common equity may be useful in assessing the Company's underlying operational performance since these items do not pertain to its core business operations and their exclusion may facilitate better comparability between periods. Management believes that excluding merger-related charges from these metrics may be useful to the Company, as well as analysts and investors, since these expenses can vary significantly based on the size, type, and structure of each acquisition. Additionally, management believes excluding these items from these metrics may enhance comparability for peer comparison purposes.

Income tax expense, provision for credit losses, and the certain notable items listed above are excluded from the calculation of pre-provision net revenues, adjusted due to the fluctuation in income before income tax and the level of provision for credit losses required. Management believes adjusted pre-provision net revenues may be useful in assessing the Company's underlying operating performance and their exclusion may facilitate better comparability between periods and for peer comparison purposes.

The Company presents adjusted noninterest expense, which excludes merger-related charges associated with completed and pending acquisitions, distribution of excess pension assets expense, and FDIC special assessment expense, as well as adjusted noninterest income, which excludes a pension plan gain/loss and realized debt securities gains/losses. Management believes that excluding these items from noninterest expense and noninterest income may be useful in assessing the Company’s underlying operational performance as these items either do not pertain to its core business operations or their exclusion may facilitate better comparability between periods and for peer comparison purposes.

The tax-equivalent adjustment to net interest income and net interest margin recognizes the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Management believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully tax-equivalent basis and that it may enhance comparability for peer comparison purposes.

In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from stockholders' equity and retain the effect of accumulated other comprehensive loss in stockholders' equity.

Although intended to enhance investors' understanding of the Company's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. In addition, these non-GAAP financial measures may differ from those used by other financial institutions to assess their business and performance. See the following reconciliations in the "Non-GAAP Reconciliations" section for details on the calculation of these measures to the extent presented herein.

FORWARD-LOOKING STATEMENTS
This earnings release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), Section 27A of the Securities Act of 1933 and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934 and Rule 3b-6 promulgated thereunder, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission ("SEC"), in press releases, and in oral and written statements made by us that are not statements of historical fact and constitute forward‐looking statements within the meaning of the Act. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends, profitability and business plans or opportunities. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "guidance," "intend," "may," "outlook," "plan," "potential," "predict," "should," "would," and "will," and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those in such statements, including, but not limited to: competition; government legislation, regulations and policies, including trade and tariff policies; the ability of Old National to execute its business plan; unanticipated changes in our liquidity position, including but not limited to changes in our access to sources of liquidity and capital to address our liquidity needs; changes in economic conditions and economic and business uncertainty which could materially impact credit quality trends and the ability to generate loans and gather deposits; inflation and governmental responses to inflation, including increasing interest rates; market, economic, operational, liquidity, credit, and interest rate risks associated with our business; our ability to successfully manage our credit risk and the sufficiency of our allowance for credit losses; the potential impact of future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, the success of revenue-generating and cost reduction initiatives, and the diversion of management’s attention from ongoing business operations and opportunities; failure or circumvention of our internal controls; operational risks or risk management failures by us or critical third parties, including without limitation with respect to data processing, information systems, cybersecurity, technological changes, vendor issues, business interruption, and fraud risks; significant changes in accounting, tax or regulatory practices or requirements; new legal obligations or liabilities; disruptive technologies in payment systems and other services traditionally provided by banks; failure or disruption of our information systems; computer hacking and other cybersecurity threats; the effects of climate change on Old National and its customers, borrowers, or service providers; the impacts of pandemics, epidemics and other infectious disease outbreaks; other matters discussed in this earnings release; and other factors identified in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings with the SEC. These forward-looking statements are based on assumptions and estimates, which although believed to be reasonable, may turn out to be incorrect. Old National does not undertake an obligation to update these forward-looking statements to reflect events or conditions after the date of this earnings release. You are advised to consult further disclosures we may make on related subjects in our filings with the SEC.

CONTACTS: Media: Scott ReinhardInvestors: Lynell Durchholz(612) 716-0304(812) [email protected]@oldnational.com           Financial Highlights (unaudited)($ and shares in thousands, except per share data)          Three Months Ended Nine Months Ended September 30,June 30,March 31,December 31,September 30, September 30,September 30,  2026  2026  2026  2025  2025   2026  2025 Income Statement        Net interest income$584,287 $578,988 $572,573 $580,832 $574,609  $1,735,848 $1,477,042 FTE adjustment1,3 7,667  7,510  7,849  8,013  7,975   23,026  20,398 Net interest income - tax equivalent basis3 591,954  586,498  580,422  588,845  582,584   1,758,874  1,497,440 Provision for credit losses 33,580  36,206  34,946  32,745  26,738   104,732  164,976 Noninterest income 128,446  153,564  122,346  109,759  130,461   404,356  356,772 Noninterest expense 355,380  372,161  364,704  386,320  445,734   1,092,245  1,098,971 Net income applicable to common shareholders 249,960  249,381  229,638  212,589  178,533  $728,979  440,533 Per Common Share Data        Weighted average diluted shares 380,900  383,273  388,054  389,550  390,496   384,156  357,278 EPS, diluted$0.66 $0.65 $0.59 $0.55 $0.46  $1.90 $1.23 Cash dividends 0.145  0.145  0.145  0.140  0.140   0.44  0.42 Dividend payout ratio2 22% 22% 25% 25% 30%  23% 34%Book value$21.26 $21.80 $21.40 $21.17 $20.64  $21.26 $20.64 Stock price 24.64  25.90  22.10  22.31  21.95   24.64  21.95 Tangible book value3 13.77  14.32  13.93  13.71  13.15   13.77  13.15 Performance Ratios        ROAA 1.37% 1.38% 1.29% 1.21% 1.03%  1.35% 0.95%ROAE 12.0% 12.1% 11.1% 10.4% 9.0%  11.7% 8.3%ROATCE3 19.6% 19.8% 18.4% 17.8% 15.9%  19.3% 14.3%NIM (FTE)3 3.52% 3.54% 3.55% 3.65% 3.64%  3.53% 3.50%Efficiency ratio3 46.1% 47.0% 48.3% 51.6% 58.8%  47.1% 56.4%NCOs to average loans 0.27% 0.26% 0.26% 0.27% 0.25%  0.26% 0.24%ACL on loans to EOP loans 1.13% 1.14% 1.15% 1.17% 1.19%  1.13% 1.19%ACL4to EOP loans 1.20% 1.21% 1.22% 1.24% 1.26%  1.20% 1.26%Nonaccrual loans to EOP loans 0.92% 0.91% 1.03% 1.07% 1.23%  0.92% 1.23%Balance Sheet (EOP)        Total loans$51,148,063 $50,772,584 $49,731,844 $48,764,162 $47,967,915  $51,148,063 $47,967,915 Total assets 74,423,980  74,189,417  73,002,651  72,151,967  71,210,162   74,423,980  71,210,162 Total deposits 57,639,107  56,146,770  55,672,472  55,088,195  55,006,184   57,639,107  55,006,184 Total borrowed funds 7,134,231  8,423,983  7,823,198  7,451,367  6,766,381   7,134,231  6,766,381 Total shareholders' equity 8,295,211  8,583,843  8,510,653  8,494,788  8,309,271   8,295,211  8,309,271 Capital Ratios3        Risk-based capital ratios (EOP):        Tier 1 common equity 11.11% 11.09% 11.11% 11.08% 11.02%  11.11% 11.02%Tier 1 capital 11.54% 11.53% 11.56% 11.53% 11.49%  11.54% 11.49%Total capital 13.59% 13.65% 13.71% 12.85% 12.78%  13.59% 12.78%Leverage ratio (average assets) 8.98% 8.95% 8.93% 8.90% 8.72%  8.98% 8.72%Equity to assets (averages) 11.52% 11.61% 11.79% 11.73% 11.48%  11.64% 11.59%TCE to TA 7.28% 7.68% 7.67% 7.72% 7.53%  7.28% 7.53%Nonfinancial Data        Full-time equivalent employees 4,894  4,914  4,948  4,971  5,243   4,894  5,243 Banking centers 346  346  346  346  351   346  351 1Calculated using the federal statutory tax rate in effect of 21% for all periods.     2Cash dividends per common share divided by net income per common share (basic).     3Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.   4Includes the allowance for credit losses on loans and unfunded loan commitments.              September 30, 2026 capital ratios are preliminary.   FTE - Fully taxable equivalent basis  ROAA - Return on average assets  ROAE - Return on average equity  ROATCE - Return on average tangible common equity  NCOs - Net Charge-offs  ACL - Allowance for Credit Losses  EOP - End of period actual balances  TCE - Tangible common equity  TA - Tangible assets                 Income Statement (unaudited)($ and shares in thousands, except per share data) Three Months Ended Nine Months Ended September 30,June 30,March 31,December 31,September 30, September 30,September 30,  2026  2026  2026  2025  2025   2026  2025 Interest income$916,830 $894,391 $877,391 $897,301 $917,192  $2,688,612 $2,372,552 Less:  interest expense 332,543  315,403  304,818  316,469  342,583   952,764  895,510 Net interest income 584,287  578,988  572,573  580,832  574,609   1,735,848  1,477,042 Provision for credit losses 33,580  36,206  34,946  32,745  26,738   104,732  164,976 Net interest income after provision for credit losses 550,707  542,782  537,627  548,087  547,871   1,631,116  1,312,066 Wealth and investment services fees 42,244  42,098  39,715  39,012  39,684   124,057  105,149 Service charges on deposit accounts 29,187  28,009  26,937  27,516  27,856   84,133  72,890 Debit card and ATM fees 13,325  13,092  12,038  13,178  13,197   38,455  36,110 Mortgage banking revenue 8,966  11,163  9,554  11,053  10,442   29,683  27,353 Capital markets income 12,348  12,329  11,016  13,080  12,629   35,693  24,249 Company-owned life insurance 7,326  8,531  7,561  7,099  7,565   23,418  19,571 Other income 15,045  38,376  15,450  (1,252) 19,081   68,871  71,560 Debt securities gains (losses), net 5  (34) 75  73  7   46  (110)Total noninterest income 128,446  153,564  122,346  109,759  130,461   404,356  356,772 Salaries and employee benefits 180,018  184,765  184,073  187,251  211,345   548,856  561,762 Occupancy 34,784  33,452  36,995  35,243  34,442   105,231  93,927 Equipment 11,326  11,077  12,075  14,184  12,703   34,478  34,170 Marketing 16,462  15,601  16,434  14,418  15,093   48,497  40,792 Technology 27,529  29,630  29,025  30,882  36,122   86,184  89,594 Communication 6,323  6,130  6,196  6,726  7,742   18,649  16,890 Professional fees 12,260  10,735  12,356  18,454  13,598   35,351  43,448 FDIC assessment 13,243  13,592  13,756  11,190  14,095   40,591  37,204 Amortization of intangibles 23,331  23,992  25,623  26,016  26,184   72,946  52,644 Amortization of tax credit investments 8,131  7,807  7,111  9,822  7,057   23,049  16,296 Other expense 21,973  35,380  21,060  32,134  67,353   78,413  112,244 Total noninterest expense 355,380  372,161  364,704  386,320  445,734   1,092,245  1,098,971 Income before income taxes 323,773  324,185  295,269  271,526  232,598   943,227  569,867 Income tax expense 69,779  70,771  61,597  54,903  50,031   202,147  117,233 Net income$253,994 $253,414 $233,672 $216,623 $182,567  $741,080 $452,634 Preferred dividends (4,034) (4,033) (4,034) (4,034) (4,034)  (12,101) (12,101)Net income applicable to common shares$249,960 $249,381 $229,638 $212,589 $178,533  $728,979 $440,533          EPS, diluted$0.66 $0.65 $0.59 $0.55 $0.46  $1.90 $1.23 Weighted Average Common Shares Outstanding        Basic 379,250  381,864  385,849  387,862  389,038   382,297  355,307 Diluted 380,900  383,273  388,054  389,550  390,496   384,156  357,278 (EOP) 378,639  382,537  386,315  389,662  390,768   378,639  390,768                     End of Period Balance Sheet (unaudited)($ in thousands) September 30,June 30,March 31,December 31,September 30,  2026  2026  2026  2025  2025 Assets     Cash and due from banks$507,214 $588,654 $537,322 $591,645 $491,910 Money market and other interest-earning investments 1,171,814  1,179,526  1,216,826  1,234,532  1,190,707 Investments:     Treasury and government-sponsored agencies 2,312,713  2,358,509  2,371,903  2,427,371  2,402,375 Mortgage-backed securities 10,275,345  10,460,468  10,295,623  10,078,358  10,117,015 States and political subdivisions 1,393,309  1,442,703  1,454,444  1,570,888  1,579,802 Other securities 814,729  821,719  814,990  825,761  849,911 Total investments 14,796,096  15,083,399  14,936,960  14,902,378  14,949,103 Loans held-for-sale, at fair value 30,456  43,608  56,128  52,911  80,341 Loans:     Commercial 16,260,724  16,112,685  15,617,656  14,983,861  14,506,375 Commercial real estate 22,692,502  22,535,229  22,192,900  22,050,007  22,083,734 Residential real estate 8,770,515  8,760,832  8,621,409  8,467,496  8,190,127 Consumer 3,424,322  3,363,838  3,299,879  3,262,798  3,187,679 Total loans 51,148,063  50,772,584  49,731,844  48,764,162  47,967,915 Allowance for credit losses on loans (579,658) (580,511) (574,358) (569,520) (572,178)Premises and equipment, net 674,192  682,065  690,400  690,824  691,950 Goodwill and other intangible assets 2,839,096  2,862,427  2,886,419  2,907,986  2,926,960 Company-owned life insurance 1,058,220  1,053,333  1,054,824  1,051,009  1,044,780 Accrued interest receivable and other assets 2,778,487  2,504,332  2,466,286  2,526,040  2,438,674 Total assets$74,423,980 $74,189,417 $73,002,651 $72,151,967 $71,210,162       Liabilities and Equity     Noninterest-bearing demand deposits$12,847,561 $12,665,278 $12,927,096 $13,247,483 $12,691,658 Interest-bearing:     Checking and NOW accounts 11,177,144  11,129,286  10,969,731  10,740,919  11,162,121 Savings accounts 4,812,222  4,924,639  4,985,949  4,909,138  4,958,555 Money market accounts 17,949,816  16,936,441  16,871,237  16,529,631  17,032,446 Time deposits 10,852,364  10,491,126  9,918,459  9,661,024  9,161,404 Total deposits 57,639,107  56,146,770  55,672,472  55,088,195  55,006,184       Federal funds purchased and interbank borrowings 484  250,389  200,583  100,197  1 Securities sold under agreements to repurchase 240,698  265,301  264,518  261,366  277,594 Federal Home Loan Bank advances 5,484,611  6,520,296  6,026,801  6,237,375  5,663,361 Other borrowings 1,408,438  1,387,997  1,331,296  852,429  825,425 Total borrowed funds 7,134,231  8,423,983  7,823,198  7,451,367  6,766,381 Accrued expenses and other liabilities 1,355,431  1,034,821  996,328  1,117,617  1,128,326 Total liabilities 66,128,769  65,605,574  64,491,998  63,657,179  62,900,891 Preferred stock, common stock, surplus, and retained earnings 9,244,597  9,141,984  9,053,907  8,973,459  8,833,662 Accumulated other comprehensive income (loss), net of tax (949,386) (558,141) (543,254) (478,671) (524,391)Total shareholders' equity 8,295,211  8,583,843  8,510,653  8,494,788  8,309,271 Total liabilities and shareholders' equity$74,423,980 $74,189,417 $73,002,651 $72,151,967 $71,210,162                 Average Balance Sheet and Interest Rates (unaudited)($ in thousands)                            Three Months Ended Three Months Ended Three Months Ended  September 30, 2026 June 30, 2026 September 30, 2025  AverageIncome1/Yield/ AverageIncome1/Yield/ AverageIncome1/Yield/Earning Assets: BalanceExpenseRate BalanceExpenseRate BalanceExpenseRateMoney market and other interest-earning investments $1,170,557 $10,9793.72% $1,212,043 $11,1213.68% $1,159,564 $12,2074.18%Investments:            Treasury and government-sponsored agencies  2,358,480  19,3703.29%  2,349,871  18,9933.23%  2,391,564  20,7213.47%Mortgage-backed securities  10,479,035  114,3684.37%  10,428,343  111,1574.26%  9,854,107  105,5964.29%States and political subdivisions  1,417,175  11,8443.34%  1,450,389  12,0173.31%  1,577,384  13,1093.32%Other securities  824,408  12,4886.06%  828,774  12,3955.98%  874,728  16,2657.44%Total investments  15,079,098  158,0704.19%  15,057,377  154,5624.11%  14,697,783  155,6914.24%Loans:2            Commercial  16,207,022  248,7406.14%  15,792,290  238,6636.05%  14,722,785  249,5696.78%Commercial real estate  22,660,192  346,8406.12%  22,234,235  339,9256.12%  21,999,016  356,0146.47%Residential real estate loans  8,800,325  104,3784.74%  8,722,341  103,1624.73%  8,287,155  95,1294.59%Consumer  3,383,853  55,4906.51%  3,323,663  54,4686.57%  3,166,508  56,5577.09%Total loans  51,051,392  755,4485.92%  50,072,529  736,2185.88%  48,175,464  757,2696.28%             Total earning assets $67,301,047 $924,4975.49% $66,341,949 $901,9015.44% $64,032,811 $925,1675.78%             Less: Allowance for credit losses on loans  (592,670)    (580,550)    (566,102)               Non-earning Assets:            Cash and due from banks $526,400    $545,346    $492,415   Other assets  7,040,733     6,991,436     7,177,663                Total assets $74,275,510    $73,298,181    $71,136,787                Interest-Bearing Liabilities:            Checking and NOW accounts $11,217,310 $52,4841.86% $11,106,289 $47,3491.71% $10,807,113 $52,3011.92%Savings accounts  4,878,272  3,0710.25%  4,950,785  3,0320.25%  5,009,293  3,8660.31%Money market accounts  17,085,773  104,6432.43%  16,485,000  99,9032.43%  17,007,426  125,7172.93%Time deposits  10,831,986  96,4493.53%  10,145,661  87,2203.45%  9,337,597  90,7173.85%Total interest-bearing deposits  44,013,341  256,6472.31%  42,687,735  237,5042.23%  42,161,429  272,6012.57%             Federal funds purchased and interbank borrowings  9,668  903.69%  42,228  3913.71%  157,192  1,8164.58%Securities sold under agreements to repurchase  258,721  5770.88%  257,217  5610.87%  289,323  7311.00%Federal Home Loan Bank advances  6,068,074  59,2923.88%  6,561,147  61,7443.77%  5,552,780  57,1434.08%Other borrowings  1,449,183  15,9374.36%  1,360,976  15,2034.48%  871,996  10,2924.68%Total borrowed funds  7,785,646  75,8963.87%  8,221,568  77,8993.80%  6,871,291  69,9824.04%             Total interest-bearing liabilities $51,798,987 $332,5432.55% $50,909,303 $315,4032.48% $49,032,720 $342,5832.77%             Noninterest-Bearing Liabilities and Shareholders' Equity:           Demand deposits $12,837,453    $12,860,401    $12,731,654   Other liabilities  1,083,626     1,020,272     1,203,838   Shareholders' equity  8,555,444     8,508,205     8,168,575                Total liabilities and shareholders' equity $74,275,510    $73,298,181    $71,136,787                Net interest rate spread   2.94%   2.96%   3.01%             Net interest margin (GAAP)   3.47%   3.49%   3.59%             Net interest margin (FTE)3   3.52%   3.54%   3.64%             FTE adjustment  $7,667   $7,510   $7,975              1Interest income is reflected on a FTE basis. 2Includes loans held-for-sale. 3Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.             Average Balance Sheet and Interest Rates (unaudited)($ in thousands)                    Nine Months Ended Nine Months Ended  September 30, 2026 September 30, 2025  AverageIncome1/Yield/ AverageIncome1/Yield/Earning Assets: BalanceExpenseRate BalanceExpenseRateMoney market and other interest-earning investments $1,199,047 $33,0443.68% $1,126,460 $35,8134.25%Investments:        Treasury and government-sponsored agencies  2,375,485  57,4843.23%  2,369,307  61,5603.46%Mortgage-backed securities  10,392,449  332,9904.27%  8,249,480  247,8534.01%States and political subdivisions  1,463,885  36,4023.32%  1,594,912  39,7533.32%Other securities  830,985  38,2606.14%  872,430  42,5476.50%Total investments $15,062,804 $465,1364.12% $13,086,129 $391,7133.99%Loans:2        Commercial  15,771,532  720,8436.09%  12,803,059  634,6106.61%Commercial real estate  22,319,323  1,022,7136.11%  19,432,867  918,3716.30%Residential real estate loans  8,686,561  306,4934.70%  7,636,955  251,6294.39%Consumer  3,326,422  163,4096.57%  3,030,102  160,8147.10%Total loans  50,103,838  2,213,4585.89%  42,902,983  1,965,4246.11%         Total earning assets $66,365,689 $2,711,6385.45% $57,115,572 $2,392,9505.59%         Less: Allowance for credit losses on loans  (582,180)    (457,192)           Non-earning Assets:        Cash and due from banks $540,143    $430,891   Other assets  7,025,532     6,331,698            Total assets $73,349,184    $63,420,969            Interest-Bearing Liabilities:        Checking and NOW accounts $11,097,532 $146,1281.76% $9,512,075 $123,6271.74%Savings accounts  4,916,410  9,1140.25%  4,891,083  11,2510.31%Money market accounts  16,706,478  304,5022.44%  14,697,398  328,5332.99%Time deposits  10,246,260  267,7383.49%  8,215,063  239,7733.90%Total interest-bearing deposits  42,966,680  727,4822.26%  37,315,619  703,1842.52%         Federal funds purchased and interbank borrowings  18,532  5043.64%  131,341  4,3944.47%Securities sold under agreements to repurchase  258,927  1,7320.89%  286,137  1,9180.90%Federal Home Loan Bank advances  6,310,172  179,0883.79%  5,355,597  158,0813.95%Other borrowings  1,328,586  43,9584.42%  792,708  27,9334.71%Total borrowed funds  7,916,217  225,2823.80%  6,565,783  192,3263.92%         Total interest-bearing liabilities  50,882,897  952,7642.50%  43,881,402  895,5102.73%         Noninterest-Bearing Liabilities and Shareholders' Equity:       Demand deposits $12,862,492    $11,145,709   Other liabilities  1,067,798     1,041,715   Shareholders' equity  8,535,997     7,352,143            Total liabilities and shareholders' equity $73,349,184    $63,420,969            Net interest rate spread   2.95%   2.86%         Net interest margin (GAAP)   3.49%   3.45%         Net interest margin (FTE)3   3.53%   3.50%         FTE adjustment  $23,026   $20,398          1Interest income is reflected on a FTE.2Includes loans held-for-sale.        3Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.               Asset Quality (EOP) (unaudited)($ in thousands)          Three Months Ended Nine Months Ended September 30,June 30,March 31,December 31,September 30, September 30,September 30,  2026  2026  2026  2025  2025   2026  2025 Allowance for credit losses:        Beginning allowance for credit losses on loans$580,511 $574,358 $569,520 $572,178 $565,109  $569,520 $392,522 Allowance established for acquired PCD loans —  —  —  —  13,104   —  103,546 Provision for credit losses on loans 33,237  38,400  36,854  29,450  24,003   108,491  154,292 Gross charge-offs (48,275) (41,540) (37,307) (35,131) (35,402)  (127,122) (89,896)Gross recoveries 14,185  9,293  5,291  3,023  5,364   28,769  11,714 NCOs (34,090) (32,247) (32,016) (32,108) (30,038)  (98,353) (78,182)Ending allowance for credit losses on loans$579,658 $580,511 $574,358 $569,520 $572,178  $579,658 $572,178 Beginning allowance for credit losses on unfunded commitments$31,531 $33,725 $35,633 $32,338 $29,603  $35,633 $21,654 Provision (release) for credit losses on unfunded commitments 343  (2,194) (1,908) 3,295  2,735   (3,759) 10,684 Ending allowance for credit losses on unfunded commitments$31,874 $31,531 $33,725 $35,633 $32,338  $31,874 $32,338 Allowance for credit losses$611,532 $612,042 $608,083 $605,153 $604,516  $611,532 $604,516 Provision for credit losses on loans$33,237 $38,400 $36,854 $29,450 $24,003  $108,491 $154,292 Provision (release) for credit losses on unfunded commitments 343  (2,194) (1,908) 3,295  2,735   (3,759) 10,684 Provision for credit losses$33,580 $36,206 $34,946 $32,745 $26,738  $104,732 $164,976 NCOs / average loans1 0.27% 0.26% 0.26% 0.27% 0.25%  0.26% 0.24%Average loans1$51,040,909 $50,062,552 $49,157,096 $48,199,086 $48,153,186  $50,093,753 $42,881,049 EOP loans1 51,148,063  50,772,584  49,731,844  48,764,162  47,967,915   51,148,063  47,967,915 ACL on loans / EOP loans1 1.13% 1.14% 1.15% 1.17% 1.19%  1.13% 1.19%ACL / EOP loans1 1.20% 1.21% 1.22% 1.24% 1.26%  1.20% 1.26%Underperforming Assets:        Loans 90 days and over (still accruing)$4,079 $6,832 $4,407 $2,691 $1,525  $4,079 $1,525 Nonaccrual loans 470,196  461,702  511,959  521,245  590,820   470,196  590,820 Foreclosed assets 2,885  3,374  5,786  6,235  6,325   2,885  6,325 Total underperforming assets$477,160 $471,908 $522,152 $530,171 $598,670  $477,160 $598,670 Classified and Criticized Assets:        Nonaccrual loans$470,196 $461,702 $511,959 $521,245 $590,820  $470,196 $590,820 Substandard loans (still accruing) 1,737,688  1,918,721  1,881,374  1,759,221  1,881,294   1,737,688  1,881,294 Loans 90 days and over (still accruing) 4,079  6,832  4,407  2,691  1,525   4,079  1,525 Total classified loans - "problem loans" 2,211,963  2,387,255  2,397,740  2,283,157  2,473,639   2,211,963  2,473,639 Other classified assets 6,861  7,960  20,620  20,616  35,373   6,861  35,373 Special Mention 608,806  705,154  804,028  805,901  893,109   608,806  893,109 Total classified and criticized assets$2,827,630 $3,100,369 $3,222,388 $3,109,674 $3,402,121  $2,827,630 $3,402,121 Loans 30-89 days past due (still accruing)$126,202 $140,428 $114,038 $105,632 $83,030  $126,202 $83,030 Nonaccrual loans / EOP loans1 0.92% 0.91% 1.03% 1.07% 1.23%  0.92% 1.23%ACL / nonaccrual loans 130% 133% 119% 116% 102%  130% 102%Under-performing assets/EOP loans1 0.93% 0.93% 1.05% 1.09% 1.25%  0.93% 1.25%Under-performing assets/EOP assets 0.64% 0.64% 0.72% 0.73% 0.84%  0.64% 0.84%30+ day delinquencies/EOP loans1 0.25% 0.29% 0.24% 0.22% 0.18%  0.25% 0.18%         1Excludes loans held-for-sale.                         Non-GAAP Measures (unaudited)($ and shares in thousands, except per share data)          Three Months Ended Nine Months Ended September 30,June 30,March 31,December 31,September 30, September 30,September 30,  2026  2026  2026  2025  2025   2026  2025 Earnings Per Share:        Net income applicable to common shares$249,960 $249,381 $229,638 $212,589 $178,533  $728,979 $440,533 Adjustments:        Pension plan loss (gain) (893) (13,240) —  15,878  —   (14,133) (21,001)Tax effect1 160  2,890  —  (3,814) —   3,050  5,778 Pension plan loss (gain), net (733) (10,350) —  12,064  —   (11,083) (15,223)Merger-related charges 689  12,109  7,323  24,547  69,274   20,121  116,336 Tax effect1 (199) (792) (1,810) (5,896) (16,494)  (2,801) (28,921)Merger-related charges, net 490  11,317  5,513  18,651  52,780   17,320  87,415 Debt securities (gains) losses (5) 34  (75) (73) (7)  (46) 110 Tax effect1 1  (7) 19  18  2   12  (24)Debt securities (gains) losses, net (4) 27  (56) (55) (5)  (34) 86 Distribution of excess pension assets —  —  3,394  —  —   3,394  — Tax effect1 —  —  (839) —  —   (839) — Distribution of excess pension assets, net —  —  2,555  —  —   2,555  — FDIC special assessment —  —  —  (2,994) —   —  — Tax effect1 —  —  —  719  —   —  — FDIC special assessment, net —  —  —  (2,275) —   —  — CECL Day 1 non-PCD provision expense —  —  —  —  —   —  75,604 Tax effect1 —  —  —  —  —   —  (20,802)CECL Day 1 non-PCD provision expense, net —  —  —  —  —   —  54,802 Total adjustments, net (247) 994  8,012  28,385  52,775   8,758  127,080 Net income applicable to common shares, adjusted$249,713 $250,375 $237,650 $240,974 $231,308  $737,737 $567,613 Weighted average diluted common shares outstanding 380,900  383,273  388,054  389,550  390,496   384,156  357,278 EPS, diluted$0.66 $0.65 $0.59 $0.55 $0.46  $1.90 $1.23 Adjusted EPS, diluted$0.66 $0.65 $0.61 $0.62 $0.59  $1.92 $1.59 NIM:        Net interest income$584,287 $578,988 $572,573 $580,832 $574,609  $1,735,848 $1,477,042 Add: FTE adjustment2 7,667  7,510  7,849  8,013  7,975   23,026  20,398 Net interest income (FTE)$591,954 $586,498 $580,422 $588,845 $582,584  $1,758,874 $1,497,440 Average earning assets$67,301,047 $66,341,949 $65,433,548 $64,456,815 $64,032,811  $66,365,689 $57,115,572 NIM (GAAP) 3.47% 3.49% 3.50% 3.60% 3.59%  3.49% 3.45%NIM (FTE) 3.52% 3.54% 3.55% 3.65% 3.64%  3.53% 3.50%         Refer to last page of Non-GAAP reconciliations for footnotes.                         Non-GAAP Measures (unaudited)($ in thousands)          Three Months Ended Nine Months Ended September 30,June 30,March 31,December 31,September 30, September 30,September 30,  2026  2026  2026  2025  2025   2026  2025 PPNR:        Net interest income (FTE)2$591,954 $586,498 $580,422 $588,845 $582,584  $1,758,874 $1,497,440 Add: Noninterest income 128,446  153,564  122,346  109,759  130,461   404,356  356,772 Total revenue (FTE) 720,400  740,062  702,768  698,604  713,045   2,163,230  1,854,212 Less: Noninterest expense (355,380) (372,161) (364,704) (386,320) (445,734)  (1,092,245) (1,098,971)PPNR$365,020 $367,901 $338,064 $312,284 $267,311  $1,070,985 $755,241 Adjustments:        Pension plan loss (gain)$(893)$(13,240)$— $15,878 $—  $(14,133)$(21,001)Debt securities (gains) losses (5) 34  (75) (73) (7)  (46) 110 Noninterest income adjustments (898) (13,206) (75) 15,805  (7)  (14,179) (20,891)Adjusted noninterest income 127,548  140,358  122,271  125,564  130,454   390,177  335,881 Adjusted revenue$719,502 $726,856 $702,693 $714,409 $713,038  $2,149,051 $1,833,321 Adjustments:        Merger-related charges$689 $12,109 $7,323 $24,547 $69,274  $20,121 $116,336 FDIC Special Assessment —  —  —  (2,994) —   —  — Distribution of excess pension assets —  —  3,394  —  —   3,394  — Noninterest expense adjustments 689  12,109  10,717  21,553  69,274   23,515  116,336 Adjusted total noninterest expense (354,691) (360,052) (353,987) (364,767) (376,460)  (1,068,730) (982,635)Adjusted PPNR$364,811 $366,804 $348,706 $349,642 $336,578  $1,080,321 $850,686 Efficiency Ratio:        Noninterest expense$355,380 $372,161 $364,704 $386,320 $445,734  $1,092,245 $1,098,971 Less: Amortization of intangibles (23,331) (23,992) (25,623) (26,016) (26,184)  (72,946) (52,644)Noninterest expense, excl. amortization of intangibles 332,049  348,169  339,081  360,304  419,550   1,019,299  1,046,327 Less: Amortization of tax credit investments (8,131) (7,807) (7,111) (9,822) (7,057)  (23,049) (16,296)Less: Noninterest expense adjustments (689) (12,109) (10,717) (21,553) (69,274)  (23,515) (116,336)Adjusted noninterest expense, excluding amortization$323,229 $328,253 $321,253 $328,929 $343,219  $972,735 $913,695 Total revenue (FTE)2$720,400 $740,062 $702,768 $698,604 $713,045  $2,163,230 $1,854,212 Less: Debt securities (gains) losses (5) 34  (75) (73) (7)  (46) 110 Less: Pension plan loss (gain) (893) (13,240) —  15,878  —   (14,133) (21,001)Total adjusted revenue$719,502 $726,856 $702,693 $714,409 $713,038  $2,149,051 $1,833,321 Efficiency Ratio 46.1% 47.0% 48.3% 51.6% 58.8%  47.1% 56.4%Adjusted Efficiency Ratio 44.9% 45.2% 45.7% 46.0% 48.1%  45.3% 49.8%         Refer to last page of Non-GAAP reconciliations for footnotes.                       Non-GAAP Measures (unaudited)($ in thousands)          Three Months Ended Nine Months Ended September 30,June 30,March 31,December 31,September 30, September 30,September 30,  2026  2026  2026  2025  2025   2026  2025 ROAE and ROATCE:        Net income applicable to common shares$249,960 $249,381 $229,638 $212,589 $178,533  $728,979 $440,533 Amortization of intangibles 23,331  23,992  25,623  26,016  26,184   72,946  52,644 Tax effect1 (5,833) (5,998) (6,406) (6,504) (6,546)  (18,237) (13,161)Amortization of intangibles, net 17,498  17,994  19,217  19,512  19,638   54,709  39,483 Net income applicable to common shares, excluding intangibles amortization 267,458  267,375  248,855  232,101  198,171   783,688  480,016 Total adjustments, net (see pg.12) (247) 994  8,012  28,385  52,775   8,758  127,080 Adjusted net income applicable to common shares, excluding intangibles amortization$267,211 $268,369 $256,867 $260,486 $250,946  $792,446 $607,096 Average shareholders' equity$8,555,444 $8,508,205 $8,544,220 $8,391,067 $8,168,575  $8,535,997 $7,352,143 Less: Average preferred equity (243,719) (243,719) (243,719) (243,719) (243,719)  (243,719) (243,719)Average shareholders' common equity$8,311,725 $8,264,486 $8,300,501 $8,147,348 $7,924,856  $8,292,278 $7,108,424 Average goodwill and other intangible assets (2,850,422) (2,873,898) (2,894,824) (2,919,924) (2,931,319)  (2,872,886) (2,633,858)Average tangible shareholder's common equity$5,461,303 $5,390,588 $5,405,677 $5,227,424 $4,993,537  $5,419,392 $4,474,566 ROAE 12.0% 12.1% 11.1% 10.4% 9.0%  11.7% 8.3%ROAE, adjusted 12.0% 12.1% 11.5% 11.8% 11.7%  11.9% 10.6%ROATCE 19.6% 19.8% 18.4% 17.8% 15.9%  19.3% 14.3%ROATCE, adjusted 19.6% 19.9% 19.0% 19.9% 20.1%  19.5% 18.1%         Refer to last page of Non-GAAP reconciliations for footnotes.                    Non-GAAP Measures (unaudited)($ in thousands)       As of September 30,June 30,March 31,December 31,September 30,  2026  2026  2026  2025  2025 Tangible Common Equity:     Shareholders' equity$8,295,211 $8,583,843 $8,510,653 $8,494,788 $8,309,271 Less: Preferred equity (243,719) (243,719) (243,719) (243,719) (243,719)Shareholders' common equity$8,051,492 $8,340,124 $8,266,934 $8,251,069 $8,065,552 Less: Goodwill and other intangible assets (2,839,096) (2,862,427) (2,886,419) (2,907,986) (2,926,960)Tangible shareholders' common equity$5,212,396 $5,477,697 $5,380,515 $5,343,083 $5,138,592       Total assets$74,423,980 $74,189,417 $73,002,651 $72,151,967 $71,210,162 Less: Goodwill and other intangible assets (2,839,096) (2,862,427) (2,886,419) (2,907,986) (2,926,960)Tangible assets$71,584,884 $71,326,990 $70,116,232 $69,243,981 $68,283,202       Risk-weighted assets3$56,350,807 $55,349,162 $54,283,745 $53,617,620 $52,515,468       Tangible common equity to tangible assets 7.28% 7.68% 7.67% 7.72% 7.53%Tangible common equity to risk-weighted assets3 9.25% 9.90% 9.91% 9.97% 9.78%Tangible Common Book Value:     Common shares outstanding 378,639  382,537  386,315  389,662  390,768 Tangible common book value$13.77 $14.32 $13.93 $13.71 $13.15       1Tax-effect calculations use management's estimate of the full year FTE tax rates (federal + state).2Calculated using the federal statutory tax rate in effect of 21% for all periods.3September 30, 2026 figures are preliminary. 

Wall Street expects a year-over-year increase in earnings on higher revenues when Old National Bancorp (ONB - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 21. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis holding company for Old National Bank is expected to post quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +11.9%.

Revenues are expected to be $735.94 million, up 3.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.32% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Old National Bancorp?For Old National Bancorp, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination makes it difficult to conclusively predict that Old National Bancorp will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Old National Bancorp would post earnings of $0.62 per share when it actually produced earnings of $0.65, delivering a surprise of +4.84%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Old National Bancorp doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Banks - Midwest industry, Mercantile Bank (MBWM - Free Report) , is soon expected to post earnings of $1.35 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of -7.5%. This quarter's revenue is expected to be $70.58 million, up 13.1% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Mercantile Bank has been revised 0.1% down to the current level. Nevertheless, the company now has an Earnings ESP of -1.12%, reflecting a lower Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Mercantile Bank will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Old National Bancorp (ONB - Free Report) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.84%. A quarter ago, it was expected that this holding company for Old National Bank would post earnings of $0.6 per share when it actually produced earnings of $0.61, delivering a surprise of +1.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Old National Bancorp, which belongs to the Zacks Banks - Midwest industry, posted revenues of $740.06 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.55%. This compares to year-ago revenues of $654.37 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Old National Bancorp shares have added about 17.3% since the beginning of the year versus the S&P 500's gain of 9.7%.

What's Next for Old National Bancorp?While Old National Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Old National Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.65 on $729.15 million in revenues for the coming quarter and $2.57 on $2.88 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, First Financial Corp. (THFF - Free Report) , is yet to report results for the quarter ended June 2026.

This holding company for First Financial Bank is expected to post quarterly earnings of $1.71 per share in its upcoming report, which represents a year-over-year change of +8.9%. The consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level.

First Financial Corp.'s revenues are expected to be $72.05 million, up 14.3% from the year-ago quarter.