Old National posts record full-year adjusted EPS $2.05; CEO Ryan becomes Chairman as Scudder retires

OLD NATIONAL BANCORP /IN/

2023-FY EPS reported $1.94

Q4 2023 diluted EPS $0.44 ($0.46 adjusted); full-year EPS $1.94 ($2.05 adjusted).
Net interest margin contracted 10 bps to 3.39%; total deposits $37.2B flat QoQ.
Tangible book value per share grew 17% YoY; adjusted return on avg tangible common equity 19.0%.
$21.6M pre-tax gain on Visa B share sale; $19.1M FDIC special assessment recorded.
Mike Scudder to retire as Executive Chairman Jan 31; CEO Jim Ryan succeeds as Chairman.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

James C. Ryan, III

Chairman of the Board of Directors

ONB · OLD NATIONAL BANCORP /IN/

Effective: 2024-01-31
Filed: January 23, 2024, 6:59 PM ET

James C. Ryan, III will succeed to the position of Chairman of the Board of Directors

Departed

Michael L. Scudder

Executive Chairman

ONB · OLD NATIONAL BANCORP /IN/

Effective: 2024-01-31
Successor: James C. Ryan, III
Filed: January 23, 2024, 6:59 PM ET

Michael L. Scudder will retire as Executive Chairman and as a director of the Company as of January 31, 2024

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OLD NATIONAL BANCORP /IN/ reported the fourth quarter and full year 2023 results: net income net income applicable to common shares of $128.4 million, EPS diluted EPS of $0.44.

Period: the fourth quarter and full year 2023
Net income: net income applicable to common shares of $128.4 million
EPS: diluted EPS of $0.44
Result: reported results

Exact text from the filing

Old National Bancorp (the “Company”) issued a press release (“Press Release”) reporting its financial results for the fourth quarter and full year 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

James C. Ryan, III was appointed as Chairman of the Board of Directors at OLD NATIONAL BANCORP /IN/.

Action: succeed
Role: Chairman of the Board of Directors

Exact text from the filing

James C. Ryan, III will succeed to the position of Chairman of the Board of Directors

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael L. Scudder departed as Executive Chairman at OLD NATIONAL BANCORP /IN/.

Action: retire
Role: Executive Chairman

Exact text from the filing

Michael L. Scudder will retire as Executive Chairman and as a director of the Company as of January 31, 2024

View on SEC.gov

6 earnings releases filed in the last 30 days. Browse all earnings releases →

OLD NATIONAL BANCORP /IN/ filing history →

Source: SEC EDGAR

accession 0001628280-24-001890

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