Old National Bancorp

Old National Bank reported second-quarter revenues of $726.9 million, up 14.8% year on year and 1.2% above analysts' expectations, though the quarter still brought a miss on net interest income estimates and only a narrow beat on EPS. Chairman and CEO Jim Ryan called the results a record quarter reflecting disciplined execution and the strength of the company's long-term growth strategy, but the stock is down 3.7% since reporting and trades at $25.21. Among the 94 regional bank stocks tracked, revenues as a group came in line with consensus estimates, and share prices on average are down 5.6% since the latest earnings results. OFG Bancorp posted the strongest quarter, with revenues of $190.3 million, up 4.4% year on year and 3.9% above expectations, sending its stock up 2.5% to $51.27. Banc of California had the weakest quarter, with revenues of $285.7 million, up 4.7% but 3.1% short of expectations, and its stock is down 16.6% at $17.66. S&T Bancorp reported revenues of $105.8 million, up 5.1% and 1.1% above estimates, with its stock flat at $49.11, while F.N.B. Corporation posted revenues of $465.8 million, up 5.6% but 0.7% below expectations, with its stock down 10.6% at $17.43.

Old National Bancorp has named Katie Florig as President and Tom Weizenegger as Chief Investment Officer of 1834, its boutique-style wealth division serving high-net-worth individuals and institutions. Florig, previously Regional Executive for the Chicagoland region, will lead strategic growth of wealth advisory and trust services. Weizenegger, formerly Managing Director of Investment Management, will oversee investment guidance and portfolio construction. The appointments reflect the company's commitment to succession planning and organizational alignment, according to Chady AlAhmar, CEO of Wealth Management. Old National, with approximately $74 billion in assets and $41 billion in assets under management, is the sixth largest commercial bank headquartered in the Midwest.