Inside INdiana Business

Old National earnings remain positive

Old National Bancorp is headquartered in Evansville. (IIB Photo courtesy: Alex Brown)

EVANSVILLE, Ind. (Inside INDiana Business) — Evansville-based Old National Bancorp (Nasdaq: ONB) is reporting fourth quarter net income of $56 million, down from $74 million during the same period a year ago. The banking company is also reporting full-year net income of $277 million, up from $226 million the previous year, as it waits to complete the previously announced merger with First Midwest Bancorp Inc. (Nasdaq: FMBI).

Old National Chairman and Chief Executive Officer Jim Ryan says First Midwest Bank also “enjoyed strong 4th quarter and full-year 2021 results.”

Old National says included in the fourth quarter were pre-tax charges of $6.7 million related to the pending merger with First Midwest.

The proposed $6.5 billion merger was first announced in June. The combined company will operate under the Old National brand with dual headquarters in Evansville and Chicago.

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