Overview

* Old National Q3 adjusted EPS at $0.59, reflecting strong operational performance

* Net interest income rises to $574.6 mln, driven by Bremer partnership

* Core deposits grow 5.8% annualized, indicating strong liquidity

Outlook

* Company did not provide specific financial guidance for future quarters in its press release

Result Drivers

* BREMER PARTNERSHIP - Partnership with Bremer Bank significantly boosted net interest income and noninterest income

* CORE DEPOSITS GROWTH - Core deposits increased 5.8% annualized, driven by growth from existing and new commercial clients

* COMMERCIAL LOAN PRODUCTION - Strong commercial loan production contributed to loan growth, offset by proactive portfolio actions

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $0.59

Adjusted

EPS

Q3 EPS $0.46

Q3 Net $178.53

Income mln

Q3 Net $574.6

Interest mln

Income

Q3 $26.73

Credit mln

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Old National Bancorp ( ONB ) is $26.50, about 22% above its October 21 closing price of $20.68

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)