Old National Q2 Profit Rises

(RTTNews) - Old National Bancorp. (ONB) reported second-quarter net income of $28.5 million, or $0.28 per share, compared to $27.2 million, or $0.29 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income on a fully taxable equivalent or FTE basis rose to $83.4 million, compared $79.2 million in the year ago quarter. Fees, Service Charges and Other revenues for the quarter slid to $44.31 million, from to $42.08 million in the prior year.

Meanwhile, total revenue on FTE basis for the quarter was $129.68 million, up from $127.77 million in the year ago quarter, while eight analysts had consensus revenue estimate of $125.57 million for the quarter.

In addition, the company said its Board of Directors declared a quarterly cash dividend of $.10 per share on the Company's outstanding shares. This dividend is payable September 17, 2013, to shareholders of record on September 3, 2013.