Equity Analysis /
United States of America

US : Old National Bancorp - ONB | 4Q First Look: EPS Beat on Higher NII (PPP fees) and Lower Provision

    Contributors
    Ken Kohut
    Daniel Tamayo
    CGS-CIMB
    19 January 2021
    Published byCGS-CIMB

    Old National reported better-than-expected results. Mortgage banking revenue remained elevated, early PPP forgiveness fees were above forecast, and the bank is realizing savings from its ONB Way initiative, offsetting core NIM pressure. Credit trends remain very good (net recoveries, again), which