Old National Bancorp Reports Record High Net Sales and NII in Q2 2024

Despite some challenges, Old National Bancorp has shown strong financial performance in the quarter ending Jun 2024. The company's net sales have reached a record high of USD 663.66 million and have consistently grown in the last five periods. This is a positive sign for the bank's near-term sales trend.

Additionally, the bank's net interest income (NII) has also seen a significant increase, reaching USD 388.42 million in the last five periods. This indicates that the bank's core business is performing well and generating higher income.

However, there are some areas that need improvement. The bank's interest expenses have risen by 115.38% in the last Semi-Annual period, which could be a cause for concern as it signifies increased borrowings. The operating profit margin has also fallen in each of the last five periods, indicating a decline in the company's profitability.

Moreover, the company's operating cash flow has decreased to USD 399.56 million in the last three years, and the net profit has also seen a decline, reaching a low of USD 121.23 million in the last five periods. This has resulted in a lower EPS of USD 0.37 million, indicating a decline in profitability and earnings for shareholders.

In conclusion, Old National Bancorp has shown strong financial performance in the quarter ending Jun 2024, with record high net sales and NII. However, there are some areas that need improvement, such as interest expenses and profitability. Investors should carefully consider these factors before making any investment decisions.