Old National Bancorp Q1 Results Highlight Record Efficiency and Robust Loan Growth

Old National Bancorp reported solid first-quarter results, highlighted by a record efficiency ratio of 45.7%. The bank achieved an 8% annualized loan growth, driven by a record commercial pipeline valued at $5.5 billion. While the net interest margin compressed by 10 basis points to 3.55%, deposits grew at a steady annualized rate of 4.2%. These results reflect robust credit quality across the bank's Midwest and Southeast footprints. Furthermore, declining deposit costs and stable asset quality contributed to the overall strong operational performance. These metrics underscore the bank's ability to maintain profitability despite the margin pressures currently facing the regional banking sector.