EVANSVILLE – Old National Bancorp reported fourth quarter net income of $23 million, or 23 cents per share. The results compare favorably to the net income of $19.7 million, or 20 cents per share in third quarter 2012, and net income of $22.2 million, or 23 cents per share, that Old National reported in fourth quarter 2011.
Net income for the 12 months ended Dec. 31 was $91.7 million, or 95 cents per share. The results represent a $19.2 million, or 26 percent increase, to full-year 2011 net income of $72.5 million and a 25 percent increase to full-year 2011 earnings per share of 76 cents.
Bob Jones, Old National’s President and CEO stated, “I am extremely proud of the 2012 financial results for Old National. Producing the highest net income seen by the company in a decade clearly demonstrates the success of our recent acquisitions and the importance of organic loan growth while maintaining a watchful eye on credit and expenses. Additionally, we closed on two of our branch sales on Jan. 18 and anticipate the third sale closing later in the 1st quarter of this year. With the hard work of our dedicated associates producing these strong results, as well as the recently announced pending purchase of 24 branches from Bank of America, we’re certainly starting off 2013 with positive momentum.”