Old National Bancorp Q4 Profit Increases, Beats Estimates

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(RTTNews) - Old National Bancorp (ONB) announced a profit for its fourth quarter that Increased from last year and beat the Street estimates.

The company's earnings totaled $212.589 million, or $0.55 per share. This compares with $149.839 million, or $0.47 per share, last year.

Excluding items, Old National Bancorp reported adjusted earnings of $241 million or $0.62 per share for the period.

Analysts on average had expected the company to earn $0.59 per share. Analysts' estimates typically exclude special items.

Old National Bancorp earnings at a glance (GAAP) :

-Earnings: $212.589 Mln. vs. $149.839 Mln. last year. -EPS: $0.55 vs. $0.47 last year.

For the fourth quarter, the company recorded net interest income of $580.832 million, compared with $394.180 million in the same period last year.

Noninterest income stood at $109.759 million as against the prior year’s $95.766 million.

Total loans were $48.764 billion, higher than last year’s $36.285 billion.

Total deposits moved up to $55.088 billion from $40.823 billion in the previous year.