Company data sheet · Old National Bancorp (formerly Old National Trust)
Old National Bancorp (formerly Old National Trust): ahead of almost everyone like it.
- Industry
- National Commercial Banks
- Ticker
- ONB (Nasdaq)
- Sources
- SEC filings (1995–2026), Stratrix's verified Decision Cases, market data and official economic statistics
- Data as of
- November 15, 2026
- Ahead of almost everyone like it. From 2016 to 2025, its revenue grew 285% in US dollars; the median among 311 large financial companies grew 81%. It outgrew 87% of them.
- Leaders came and went. Old National Bancorp (formerly Old National Trust) filed 25 leadership changes since 2016, more than 76% of large financial companies (the median is 15). The day after each, its shares moved a median 0.1 points against its sector. The news was rarely news.
- Profitable every year. Old National Bancorp (formerly Old National Trust) made money in each of its last ten fiscal years, from $0.1 billion (2017) to $0.7 billion (2025).
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2016 | $0.1 billion | $0.1 billion | |
| 2017 | $0.1 billion | $0.1 billion | |
| 2018 | $0.1 billion | $0.2 billion | |
| 2019 | $0.1 billion | $0.2 billion | |
| 2020 | $0.1 billion | $0.2 billion | |
| 2021 | $0.1 billion | $0.3 billion |
As reported in its annual filings. Losses in red.
Has Old National Bancorp (formerly Old National Trust) had layoffs?
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 3,940 | December 31, 2023 |
| 10-K for 2024 | 4,066 full-time equivalent team members | December 31, 2024 |
| 10-K for 2025 | 4,971 full‑time equivalent team members | December 31, 2025 |
Job cuts, severance and restructuring
Recorded $2.6 million of separation expense within noninterest expense in 2024.
“Noninterest expense in 2024 included $37.3 million of merger-related expenses, a $13.3 million non-cash, pre-tax expense associated with the distribution of excess pension assets with the resolution of the legacy First Midwest plan, $3.0 million for the FDIC special assessment, and $2.6 million of separation expense.” 10-K for 2024
Old National Bancorp (formerly Old National Trust) filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
What has Old National Bancorp (formerly Old National Trust) acquired?
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
CapStar and its wholly-owned subsidiary, CapStar Bank“On October 26, 2023, Old National announced that it entered into a definitive merger agreement pursuant to which Old National will acquire CapStar and its wholly-owned subsidiary, CapStar Bank, in an all-stock transaction.” 10-K for 2023 | agreed acquisition | On October 26, 2023 | — |
First Midwest“On February 15, 2022, Old National completed its previously announced merger of equals transaction with First Midwest pursuant to an agreement and plan of merger, dated as of May 30, 2021, to combine in an all-stock transaction.” 10-K for 2023 | merger | On February 15, 2022 | — |
First Midwest Bancorp, Inc.“On February 15, 2022, Old National completed its merger of equals transaction with First Midwest pursuant to an agreement and plan of merger, dated as of May 30, 2021, to combine in an all-stock transaction.” 10-K for 2024 | acquisition | February 15, 2022 | — |
Bremer and its wholly owned subsidiary, Bremer Bank, National Association“Under the terms of the definitive merger agreement, each outstanding share of Bremer common stock will be converted into the right to receive 4.182 shares of Old National common stock plus $26.22 in cash, valuing the transaction at approximately $1.4 billion, or $116.76 per share, based on Old National's closing stock price on November 22, 2024.” 10-K for 2024 | agreed acquisition | — | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2016-12-31 | $62.5 million | $111.3 million |
| 2017-12-31 | −$2.6 million | $173 million |
| 2018-12-31 | −$60.8 million | $208.8 million |
| 2019-12-31 | — | $736,000 |
| 2020-12-31 | — | $0 |
| 2021-12-31 | — | $0 |
| 2022-12-31 | — | $961.7 million |
| 2023-12-31 | — | $0 |
| 2024-12-31 | — | $176.5 million |
| 2025-12-31 | — | $250.4 million |
Deal filings since 2016
- 2026-01-29 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-05-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2024-11-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-11-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-10-31 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-02-16 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2021-06-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-06-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-11-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2017-08-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-11-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-08-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-05-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-05-02 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2016-01-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
What are Old National Bancorp (formerly Old National Trust)'s subsidiaries?
Subsidiaries it lists
| Subsidiary | Jurisdiction |
|---|---|
| 1834 Investment Advisors Co. | Wisconsin |
| Old National Bank | United States of America |
From Exhibit 21 of the 10-K for 2025. Companies must list their significant subsidiaries there and may leave out smaller ones, so this is the company’s own list, not every entity it owns.
Layoffs, acquisitions, competitors and subsidiaries are read from Old National Bancorp (formerly Old National Trust)’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023), as of 2026-02-19.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Market reaction to disclosed decisions: 44 decision filings since 2016, each linked to the SEC, with the share return against its sector and the US market the next day and the next year (30 with market data).
- Peer comparison: against 505 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
The full data sheet downloads with the Data Plan. To see exactly what you get first, open the Boeing sample PDF or Excel.
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
More from Stratrix
The Business Model Wizard
Make the seven choices that define your model, test your numbers against real companies, and meet the rival AI would build against you.
Free · about twelve minutesBuild your Model Thesis →Test a decision, free
Set a live decision against the companies that made it before you.
AcquisitionsThe Distance TestDivestituresThe Divestiture TestDiversificationThe Diversification TestMake or buyThe Make-or-Buy TestStratrix Team
Every Casebook, three Strategy Packs a seat each year and Ask Stratrix, for teams that face these decisions all year.
$1,999 a year · $499 a seatWhat is included →New analyses, by email
The defining moves in business, and what they teach, as they publish.