Old National Profit Takes a Slight Dip

Evansville-based Old National Bancorp (Nasdaq: ONB) is reporting second quarter net income of $38.9 million, down from $39.1 million during the same period the previous year. The bank says, despite the slight drop, the quarterly results are strong.

While lower than second quarter 2016, the latest earnings remain 8 percent higher than the previous quarter, where the company reported net income of $36 million. In a news release, Chief Executive Officer Bob Jones said, "Our strong 2nd quarter results are reflective of our transformation into higher growth markets and executing on our stated initiatives. With strong commercial loan growth and low credit costs, coupled with revenue growth and well-maintained expenses, this was a successful quarter of execution for Old National."

During the second quarter, the company announced the hiring of Todd Clark for the newly-created position of chief information and strategic innovation officer. You can view the full second quarter earnings report by clicking here.