Old National profit holds its ground

July 28, 2008

By Norm Heikens

Old National Bancorp today reported second-quarter profit of $19.5 million, up marginally from $19.3 million in the same period last year.

The Evansville-based parent of Old National Bank also said revenue climbed to $109.4 million from $97.3 million.

"Given the challenges that exist in the economy today and unprecedented challenges that exist in the financial markets, we are particularly pleased with our positive second-quarter results," President Bob Jones said in a statement.

Non-performing loans fell to $68.1 million from a $70.1 million in the first quarter this year. The first quarter was a spike after several quarters in a row in the $40 million-to-$50 million range.

Old National has eight locations in the Indianapolis area.

The bank's shares slipped 16 cents this morning to trade at $14.81.

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