Old National (ONB) Earnings Call Transcript

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Jan. 21, 2026 astatine 10 a.m. ET

• Chairman and Chief Executive Officer — Jim Ryan

• Chief Financial Officer — John Moran

• President and Chief Operating Officer — Tim [last sanction not specified successful transcript]

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Jim Ryan: Before we get started, I privation to congratulate the Indiana Hoosiers for a cleanable play successful winning the National College Football Championship. You've made our authorities incredibly proud. Earlier today, Old National announced beardown 4th fourth earnings, marking an exceptional twelvemonth that acceptable caller organizational records for adjusted net per share, nett income, and the ratio ratio. Our 2025 results were driven by a absorption connected the fundamentals: halfway deposit maturation to enactment indebtedness expansion, affirmative operating leverage, disciplined recognition management, and steadfast liquidity and superior ratios. Once again, we showed our unwavering committedness to shareholders, clients, squad members, and communities.

Our peer-leading 4th fourth profitability was highlighted by an adjusted instrumentality connected mean tangible communal equity of astir 20%, an adjusted ROA of 1.37%, and an adjusted ratio ratio of 46%. These outstanding quarterly results further reenforce the momentum down our 2025 grounds show that John volition sermon aboriginal successful the call. In 2025, we successfully completed the systems conversion and integration related to our Bremer Bank partnership. This was a large effort executed exceptionally well. I privation to convey our squad members erstwhile again for their relentless absorption and hard enactment passim this. The conversion reaffirmed the spot of our disciplined integration framework, which genuinely sets Old National apart.

As we person stated, driving tangible worth per stock maturation is simply a cardinal priority. This past year, we grew tangible publication worth per stock by 15% contempt the interaction of closing our Bremer partnership, the associated one-time charges, and repurchasing 2.2 cardinal shares successful the backmost fractional of the year. We stay committed to strengthening tangible publication worth per stock portion continuing to thrust peer-leading profitability. Looking up to 2026, we volition support the close equilibrium betwixt gathering superior organically and returning superior done stock repurchases supported by our peer-leading instrumentality connected mean tangible communal equity. As I mentioned past quarter, the champion concern we tin marque is successful ourselves.

Our absorption remains connected integrated maturation and disciplined superior returns to maximize shareholder value. We started 2026 with beardown momentum, and we volition proceed to fortify our halfway fundamentals by investing successful talent, technology, and client-facing capabilities. These efforts volition guarantee we stay strong, scalable, and positioned for semipermanent success. Thank you. I volition present manus the telephone implicit to John to work the fiscal results successful much detail.