It turns out Old National Bank’s second quarter earnings were better than last year’s.
Evansville-based Old National Bancorp earned $29.1 million in the second quarter of this year. A news release on Monday indicated that was down from the same period last year.
But Old National President & CEO Bob Jones says last year’s second-quarter earnings were actually lower -- $23.9 million. So, this year’s earnings are more than $5 million higher than in 2013.
Jones says the latest earnings also exceeded analysts’ estimates, despite integration expenses and other factors.
Jones points to continued strong credit quality and capital position, and the completion of a partnership with United Bancorp as part of the “ongoing success” of the bank’s growth strategy.
Old National recently announced the acquisition of Founders Financial Corporation through a stock and cash merger. That deal is valued at more than $88 million.
Evansville-based Old National also recently acquired Tower Financial in Fort Wayne and Lafayette-based LSB Financial.