Old National sees jump in quarterly profit

EVANSVILLE, Ind. (Inside INdiana Business) — Evansville-based Old National Bancorp (Nasdaq: ONB) is reporting first quarter net income of $86.8 million, up from $22.6 million during the same period last year. Chief Executive Officer Jim Ryan says the results were driven by record commercial loan production and strong mortgage revenue.

Ryan adds the bank saw “excellent” credit quality during the quarter, which contributed to the results. 

“We also continue to work with our small business and non-profit clients who are affected by the pandemic to help them gain access to Paycheck Protection Program funds and also to complete the loan forgiveness process,” Ryan said in a news release.

You can view the full earnings report by clicking here.