Old National Bancorp /In/ (NASDAQ: ONBPO)

Old National Bancorp, or Old National Bank as it is commonly known, is a financial holding company based in Evansville, Indiana. As of December 31, 2023, it had consolidated assets of $49.1 billion, making it the sixth largest Midwestern-headquartered bank by asset size. Old National Bank provides a wide range of financial services, including commercial and consumer lending, deposit services, and wealth management.

The company's primary sources of revenue are lending and deposit activities. Old National Bank offers a variety of loan products, such as commercial loans, commercial real estate loans, agricultural loans, and consumer loans. These loans cater to the diverse needs of its clients, ranging from small startups to large corporations. In addition, the bank offers deposit products that include checking and savings accounts, certificates of deposit, and individual retirement accounts.

Old National Bank's operations are divided into four main segments: Commercial Banking, Consumer Banking, Wealth Management, and Community Development. The Commercial Banking segment provides a range of commercial banking services, including commercial loans, commercial real estate loans, and cash management services. The Consumer Banking segment offers personal banking services that include checking and savings accounts, certificates of deposit, and individual retirement accounts.

The Wealth Management segment provides investment advice, trust services, and insurance products to individuals, families, and businesses. This segment works closely with clients to develop customized financial plans and investment strategies. The Community Development segment focuses on supporting economic growth and development in the communities Old National Bank serves. Through this segment, the bank provides community development loans, grants, and services.

Old National Bank operates in a highly competitive market with numerous financial institutions offering similar products and services. However, the company differentiates itself through its commitment to community development, personalized service, and customized financial solutions.

Old National Bank is well-capitalized, with a total risk-based capital ratio of 12.4% as of December 31, 2023. It is subject to the Federal Reserve's capital requirements, which include a minimum common equity Tier 1 capital ratio of 4.5% and a minimum Tier 1 capital ratio of 6.0%. The bank is also subject to the Community Reinvestment Act, which requires depository institutions to assist in meeting the credit needs of their market areas consistent with safe and sound banking practices. Old National Bank has received a rating of "satisfactory" in its latest CRA examination.

In terms of cybersecurity, Old National Bank is subject to federal banking regulators' guidance and standards. It is also subject to state-level regulations and standards, including data encryption requirements and data breach notification requirements.

The bank's Wealth Management segment offers notable products such as investment advice, trust services, and insurance products. These services help individuals, families, and businesses develop customized financial plans and investment strategies.

Old National Bank has a diverse workforce of approximately 3,940 full-time equivalent team members. The company is committed to fostering a culture of diversity and inclusion and provides a range of benefits and programs to support the well-being and development of its team members.