Company Analysis

Old National Bancorp (ONB)

Nasdaq: ONB · National Commercial Banks · Evansville, IN · filing with the SEC since 1995
Grade4.8
◀ Past 4.4● Present 4.7▶ Future 5.6

The grade of Old National Bancorp

Nine metrics read from its own filings, by tense
Headline grade
4.8/10
◀ Past4.440% of the headline
● Present4.735% of the headline
▶ Future5.625% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

4.4/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed
4.6/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2022-08-22.

weight 45% of this tense · 46th percentile among 83 sector filers · read for itself

From the record

Old National Bancorp's filings since 2017 show 1 warning event: an auditor change (8-K item 4.01, the latest 2022-08-22) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
5.4/10

What has it actually done, year after year?

+24.7% a year over 10 filed years; profitable in 10 of 10.

weight 22% of this tense · 54th percentile among 79 sector filers · read for its customers

From the record

Old National Bancorp's 10 filed years say what it did: revenue went from $447 million in fiscal 2016 to $3.3 billion in fiscal 2025, up 24.7% a year; it rose in 7 of 9 years; the deepest fall was 13% from fiscal 2019 to fiscal 2021; net income was positive in 10 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span24.7%top 7% of its family
  • the share of years revenue rosebottom 41% of its family
  • the share of filed years with a profittop 42% of its family
  • the deepest fall from a revenue peak12.6%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
3.4/10

How has it treated the people who own it?

Share count grew 9.7% a year. 40% of cash flow returned. Insiders: 6 sales, 0 purchases.

weight 33% of this tense · 34th percentile among 81 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Old National Bancorp's diluted share count grew about 9.7% a year, and dividends and buybacks returned about 40% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 6 sales (1 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-04 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 15% of its family
  • cash returned against operating cash flowtop 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.7/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
3.4/10

Is it financially healthy right now?

ROE 8%: 8¢ of profit per shareholder dollar. Leverage 88%: owes 88¢ per asset dollar.

weight 45% of this tense · 34th percentile among 83 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Old National Bancorp earned about 8 cents of profit for every dollar of shareholders' money. Leverage: it owed about 88 cents per dollar of assets, and net share issuance: its share count grew 17.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 33% of its family
  • return on equitybottom 22% of its family
  • the share count against the year beforebottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.6/10

How strong is its position in its industry?

top 34% of 79 in its family; net margin 20.5%.

weight 33% of this tense · 66th percentile among 79 sector filers · read for its customers

From the record

Old National Bancorp's standing among 79 graded names in its industry family: revenue of $3.3 billion in fiscal 2025 ranks in the top 21% by size; a net margin of 20.5% ranks in the bottom 31%; revenue growth of 31% a year over the last 3 filed years ranks in the top 11% (its annual reports).

What it rests on

  • revenue against the family$3.27Btop 21% of its family
  • net margin20.5%bottom 31% of its family
  • three-year revenue growth31.0%top 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
4.7/10

What are the people in charge doing?

bottom 47% of 74 in its family for leadership; chief executive since 2019.

weight 22% of this tense · 47th percentile among 74 sector filers · read for its shareholders

From the record

Old National Bancorp's leadership, from its insiders' filings and its current reports: the chief executive on the record is Ryan, James C III (CHAIRMAN AND CEO, as filed), filing under that title since 2019-05-03, 7.5 years (top 47% of its family); most of the 25 officers and directors filing now have filed since the record of its people begins (2022-02-15), a floor of 4.7 years the record cannot see past, so that part is not read; 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 25 people in charge now (bottom 41%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge10 in three years among 25 peoplebottom 41% of its family
  • the chief executive's years on the record7.5 yearstop 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.6/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.4/10

How much room does it have to grow?

bottom 44% of 71 in its family for room to expand.

weight 33% of this tense · 44th percentile among 71 sector filers · read for itself

From the record

Old National Bancorp's room to grow, from the newest filed statements (fiscal 2025): cash of $1.8 billion against no long-term debt tagged leaves 2.5% of its assets as net cash, top 48% of its family; cash from operations less capital spending is 19.5% of revenue (bottom 37%) (its annual report).

What it rests on

  • cash less debt against assets2.5%top 48% of its family
  • cash from operations less capital spending against revenue19.5%bottom 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.5/10

What could actually drive growth from here?

top 35% of 79 in its family for growth drivers.

weight 33% of this tense · 65th percentile among 79 sector filers · read for its customers

From the record

Old National Bancorp's growth drivers, from the filed years to fiscal 2025: revenue grew 31% a year over the last three filed years against 24.7% over all 10, speeding up (top 40% of its family); the newest year grew 25.7% (top 8%); capital spending grew 5.1% a year (bottom 43%) (its annual reports). Old National Bancorp tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+6.3 points a yeartop 40% of its family
  • the newest year's revenue growth25.7%top 8% of its family
  • three-year growth of capital spending5.1%bottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.7/10

Did its newest year beat what its own record pointed to?

top 43% of 76 in its family for expectations against reality.

weight 33% of this tense · 57th percentile among 76 sector filers · read for its shareholders

From the record

Old National Bancorp's newest year against its own record: revenue of $3.3 billion in fiscal 2025 came in 6% below the $3.5 billion its prior three years' pace pointed to (top 16% of its family); net income of $669 million against a prior three-year average of $516 million (top 32%); a net margin of 20.5% against 25.5% before (bottom 20%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-6.0%top 16% of its family
  • net income against the prior three years' average+30%top 32% of its family
  • net margin against its prior average-5.0 pointsbottom 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ONB · research, not advice