Old National Sees Q2 Profit Increase

Evansville-based Old National Bancorp (Nasdaq: ONB) is reporting second quarter net income of $44 million, up from $38.9 million during the same period last year. Chief Executive Officer Bob Jones says the earnings are the result of disciplined expense management and a measured increase in deposit costs.

Jones says, combined with the benefit of increased rates, the bank’s efforts resulted in a "very successful" second quarter.

"Moreover, we set a new company record for total commercial production while experiencing very strong commercial and industrial loan growth and maintaining a strong period-end pipeline," said Jones. "Coupled with our recently announced KleinBank partnership – which effectively doubles our presence in Minnesota’s Twin Cities – these results illustrate that Old National is well-positioned for continued growth and success in the vibrant markets that now define our franchise."

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