Old National Bank’s fourth quarter results drew a positive market response, as management attributed the performance to strong core deposit growth, disciplined expense control, and credit improvement. CEO Jim Ryan highlighted the successful completion of the Bremer Bank integration and noted the company’s ability to boost tangible book value per share, despite merger charges and share repurchases. Management also emphasized positive trends in fee income, particularly in mortgage and capital markets, which benefited from a more supportive interest rate environment.

Is now the time to buy ONB? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Old National Bank’s Q4 Earnings Call

• Scott Siefers (Piper Sandler) asked about net interest income trajectory and margin dynamics. CFO John Moran explained that day count and asset repricing are key factors, and management expects a more active year for share repurchases.

• Brendan Nosal (Hoagroup) inquired about reserve coverage and credit provisioning. Moran cited fundamental improvement in criticized and classified loans, stating the company is "through the peak" in problem asset categories.

• Jared Shaw (Barclays) questioned core capital targets and deposit seasonality. Moran noted a comfortable CET1 position and expects deposit stability as a percentage of total deposits, with seasonality mainly in public funds.

• Ben Gerlinger (Citi) asked about sources of loan growth and competitive pricing. Management attributed growth to talent additions and disciplined pricing, particularly in high-growth markets, while remaining opportunistic amid regional disruptions.

• Terry McEvoy (Stephens) focused on fee income sustainability and new loan yields. Management expressed cautious optimism for mortgage and capital markets fees, and noted that loan and securities repricing is providing meaningful yield uplift.

Catalysts in Upcoming Quarters

In the coming quarters, StockStory analysts will monitor (1) the pace of loan and deposit growth relative to peers, (2) the full realization of Bremer Bank cost synergies and their impact on operating leverage, and (3) the effectiveness of talent and technology investments in driving client acquisition and expanding the wealth management business. Updates on net interest margin resilience amid potential rate changes will also be key signposts.

Old National Bank currently trades at $23.88, up from $22.90 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it’s free).

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