Old National Bancorp: 4Q Earnings Snapshot
EVANSVILLE, Ind. (AP) _ Old National Bancorp (ONB) on Tuesday reported fourth-quarter net income of $47.5 million, after reporting a loss in the same period a year earlier.
The Evansville, Indiana-based bank said it had earnings of 28 cents per share. Earnings, adjusted for non-recurring costs, came to 32 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The holding company for Old National Bank posted revenue of $233.4 million in the period. Its revenue net of interest expense was $204.4 million, topping Street forecasts. Five analysts surveyed by Zacks expected $194.6 million.
For the year, the company reported profit of $190.8 million, or $1.22 per share. Revenue was reported as $732.9 million.
Old National Bancorp shares have increased nearly 9 percent since the beginning of the year. The stock has decreased slightly more than 9 percent in the last 12 months.