Old National Bancorp releases Q2 2026 investment thesis under Regulation FD
Aug. 5. Old National Bancorp filed an 8-K with the Securities and Exchange Commission on August 5, disclosing its second-quarter 2026 investment thesis under Regulation FD. The presentation, designated Exhibit 99.1, spans slides 3 through 13 and opens with an executive summary.
Key takeaways
- Old National Bancorp filed an 8-K with the SEC on August 5 disclosing its second-quarter 2026 investment thesis under Regulation FD.
- The presentation, designated Exhibit 99.1, spans slides 3 through 13 and opens with an executive summary.
- The company presents non-GAAP measures that exclude "notable items" such as pension plan gains and losses, merger-related charges, debt securities gains and losses, distribution of excess pension assets expense, FDIC special assessment expense, and CECL Day 1 non-PCD provision ex
- Old National applies a tax-equivalent adjustment to net interest income and net interest margin using the current federal income tax rate of 21%.
- Cited risk factors include trade and tariff policies, credit quality deterioration, interest rate exposure, cybersecurity threats, future business combinations, and the effects of climate change on borrowers and service providers.
Aug. 5. Old National Bancorp filed an 8-K with the Securities and Exchange Commission on August 5, disclosing its second-quarter 2026 investment thesis under Regulation FD. The presentation, designated Exhibit 99.1, spans slides 3 through 13 and opens with an executive summary.
Non-GAAP measures and what they exclude
Old National (ONB) presents adjusted earnings per share, efficiency ratio, return on average common equity, return on average tangible common equity, and net income applicable to common shares, each stripped of what the company calls "notable items," the filing shows. Those items are pension plan gains and losses, merger-related charges from completed acquisitions, debt securities gains and losses, distribution of excess pension assets expense, FDIC special assessment expense, and CECL Day 1 non-PCD provision expense.
Management said merger-related charges are excluded because they vary significantly by acquisition size, type, and structure. That variation makes period-over-period comparisons harder. The company applies the same merger-charge exclusion to its adjusted noninterest expense line, which also strips FDIC special assessment expense. Adjusted noninterest income removes pension plan gains and losses and debt securities gains and losses.
Tax-equivalent treatment
Old National applies a tax-equivalent adjustment to net interest income and net interest margin using the current federal income tax rate of 21%, the release shows. Management described this as standard banking-industry practice. The company also presents tangible common equity measures, which remove intangible assets from stockholders' equity while retaining the effect of accumulated other comprehensive loss.
Risk factors cited
The materials name trade and tariff policies explicitly among government-related risks. The list also covers credit quality deterioration, interest rate exposure, cybersecurity threats, the potential drag from future business combinations, and the effects of climate change on Old National's borrowers and service providers. The company directed investors to its Annual Report on Form 10-K for the year ended December 31, 2025 for the full risk-factor list. Old National stated it will not update forward-looking statements after August 5, 2026.