EVANSVILLE, Ind. — Evansville-based Old National Bancorp finished the second quarter of 2016 with a net income of $39.1 million, or 31 cents per share. In the second quarter of 2015 the company reported 26.2 million in net income.
During the second quarter the company sold Old National Insurance and completed a partnership with Anchor Bancorp Wisconsin Inc. Also, deposits increased by $1.851 billion to $10.277 billion. Total period-end loans were up $1.845 billion to $8.875 billion.
“This was a quarter marked by significant milestones for Old National as we closed our largest partnership to date, completed the sale of our insurance group and ended our FDIC loss share agreement,” Chairman and CEO Bob Jones said. “These actions — coupled with solid organic loan growth and a continued focus on expense management — allowed us to continue to grow our business in spite of the economic challenges facing all U.S. financial companies. Our shareholders also benefitted by the increase in tangible book value even after the closing of our Anchor partnership.”
Old National Bancorp is the holding company of Old National Bank, the largest financial services holding company headquartered in Indiana. With $14.4 billion in assets, it ranks in the top 100 financial institutions in country and operates more than 200 offices in Indiana, Kentucky, Michigan and Wisconsin. Four offices are located in Columbus.