Old National Bancorp (NASDAQ:ONB) unfold its second quarter earnings results on Monday 20th July 2020 before market open.
The reported $ 0.32 income per share for the quarter, The quarterly earnings down 11.11 percent compared with the same quarter last year.
On adjusted basis, Old National Bancorp reported income for the quarter of $ 0.33 per share, beat the consensus estimate of $ 0.24 income per share by $ 0.09 or 37.50 percent.
The firm had revenue of $ 207.50 million for the quarter, compared to the consensus estimate of $ 197.11 million. The revenues outshined analysts estimates by $ 10.39 million or 5.27 percent.
The financial report showed revenues fell 1.05 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Old National Chairman & CEO Jim Ryan, said, Out strong 2nd quarter loan production was driven by our ability to help more than 9,400 new and existing clients secure Paycheck Protection Program funding, which resulted in financial assistance to nearly 160,000 of their employees. We also maintained strong credit metrics and capital ratios during the quarter while working to finalize our recently announced technology partnership with Infosys – a partnership that will accelerate and enhance our ability to provide powerful digital solutions to our clients.
