Last $14.91 USD
Change Today +0.09 / 0.61%
Volume 350.1K
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As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One Main Street

Evansville, IN 47708

United States

Phone: 812-464-1294

Fax:

Old National Bancorp operates as the holding company for Old National Bank that provides a range of services, including commercial and consumer loan and depository services, investment and brokerage services, lease financing, and other traditional banking services. The company provides services to supplement the banking business, including fiduciary and wealth management services, insurance, and other financial services. It provides financial services primarily in Indiana, southeast Illinois, western Kentucky, and southwestern Michigan. Segments The company operates in three segments: Banking, Insurance and Wealth Management Banking Segment The banking segment operates through Old National Bank. As of December 31, 2013, Old National Bank operated 169 banking financial centers located primarily in Indiana, southeast Illinois, western Kentucky, and southwest Michigan. The banking segment primarily consists of lending and depository activities along with merchant cash management, Internet banking and other services relating to the general banking business. In addition, the banking segment includes Indiana Old National Insurance Company (IONIC), which reinsures credit life insurance. IONIC also provides property and casualty insurance for Old National and reinsures most of the coverage with non-affiliated carriers. Lending Activities: The company’s lending activities include loans to individuals, which primarily consist of home equity lines of credit, residential real estate loans and consumer loans, and loans to commercial clients, which include commercial loans, commercial real estate loans, letters of credit, and lease financing. Residential real estate loans are either kept in the company’s loan portfolio or sold to secondary investors, with gains or losses from the sales being recognized. Depository Activities: The company’s deposit accounts include products, such as noninterest-bearing demand, negotiable order of withdrawal, savings and money market, and time deposits. Debit and ATM cards provide clients with access to their accounts 24 hours a day at any ATM location. It also provides 24-hour telephone access and online banking, as well as other electronic banking services. Insurance This segment offers full-service insurance brokerage services including commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance. In addition, the company has two affiliated third party claims management companies that collect fees related to the handling of service claims for self-insured clients. Wealth Management This segment includes private banking, trust services, and investment advisory services. This segment is focused on assisting high-net-worth individuals and families in building and preserving their wealth. Investment Securities As of December 31, 2013, the company’s investment securities portfolio included U.S. treasury, U.S. government-sponsored entities and agencies, mortgage-backed securities—agency and non-agency, states and political subdivisions, pooled trust prefered securities, and other securities. Supervision and Regulation The company is registered as a bank holding company and has elected to be a financial holding company. It is subject to the supervision of, and regulation by, the Board of Governors of the Federal Reserve System (Federal Reserve) under the Bank Holding Company Act of 1956, as amended. The bank met all risk-based capital requirements of the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) as of December 31, 2012. The bank is subject to the provisions of the National Bank Act, is supervised, regulated and examined by the OCC, and is subject to the rules and regulations of the OCC, Federal Reserve, and the FDIC. The company and the bank are subject to the Federal Reserve Act, which restricts financial transactions between banks and affiliated companies. The company is subject to a consent order with the OCC relating to its Bank Secrecy Act/Anti-Money Laundering Program. History Old National Bancorp was founded in 1834.

 

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Price/Sales 3.2x
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Price/Cash Flow 17.2x
TEV/Sales 0.1x
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