Old National Bancorp (ONB) Barclays 22nd Annual Global Financial Services Conference 2024 summary

Leadership and organizational update

• New CFO John Moran officially introduced, recognized for strong investor relations and stakeholder engagement.

• Recent acquisition and integration in Tennessee expanded presence to 23-24 locations, with strong talent attraction from larger banks.

• Emphasis on culture and community focus as key drivers for talent and growth.

Growth strategy and market opportunities

• Focus on organic growth in core Midwest markets, with low market share in major cities offering room for expansion.

• Selective client acquisition strategy enables responsible growth and attracts new talent.

• M&A expertise remains, but near-term focus is on organic growth, especially in Tennessee and North Carolina.

• Avoiding asset growth above $100 billion to prevent regulatory burdens.

CapStar integration and synergy realization

• CapStar integration progressing well, with strong cultural alignment and positive client reception in Tennessee.

• Cost savings on track, with run-rate synergies expected by end of Q4, providing a 2025 expense tailwind.

• Revenue synergies, especially in wealth management, seen as upside potential.