Old National Bancorp (ONB) Misses Q4 EPS by 2c, Miss on Revenues

Old National Bancorp (NASDAQ: ONB) reported Q4 EPS of $0.22, $0.02 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $167.9 million versus the consensus estimate of $170.64 million.

4th Quarter 2017 Highlights:

• Organic commercial and commercial real estate loan growth1 of 10.1% annualized from 3rd quarter of 2017
• Cost of total deposits remained low at 0.20%, up just 1 basis point from 3rd quarter of 2017
• Legacy noninterest expenses2 declined 6.8% from 4th quarter of 2016
• Anchor Bancorp, Inc. (Anchor-Minnesota) partnership closed November 1, 2017, less than 90 days following announcement

2017 Highlights:

• Organic loan growth1 of almost 5%; organic commercial and commercial real estate loan growth1 of 10.1%
• Cost of total deposits increased just 2 basis points to 0.19%
• Credit quality metrics remain strong, with net charge-offs of just 0.03% of average total loans
• Adjusted operating leverage improved over 350 basis points2 from 2016

For earnings history and earnings-related data on Old National Bancorp (ONB) click here.

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