Old National Bancorp Q3 Profit Up - Quick Facts

(RTTNews) - Old National Bancorp. (ONB) Monday posted higher third-quarter profit, with increase in revenues.

For the three-month period, the company reported net income of $23.9 million or $0.23 per share, compared with $19.7 million or $0.20 per share last year. The company said its third quarter results were impacted by $2.3 million in merger related costs, and $2.7 million costs associated with branch closures.

On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $0.23 for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income, on a fully taxable equivalent or FTE basis, rose to $82.3 million, from prior year's $77.4 million. Fees, service charges and other revenues were $47.5 million, compared with $37.9 million last year.

Total revenue, on FTE basis, for the quarter was 9.9 percent up to $130.1 million from $118.3 million a year earlier. Analysts expected the company to generate revenues of $130.31 million for the quarter.

Further, the Board declared a quarterly cash dividend of $0.10 per share, payable on December 16, to shareholders of record on December 2.