Old National reports higher profit, revenue

Loan growth in the consumer and real estate sectors helped Evansville-based Old National Bancorp report higher profit and revenue in the second quarter, the company said Monday morning.

Profit in the quarter ended June 30 climbed 60 percent, to $27.2 million, or 29 cents per share, compared with $17 million, or 18 cents per share, in the second quarter of 2011.

Old National’s revenue grew 17.4 percent, to $127.8 million, from the previous year.

Commercial real estate loan activity increased 11.4 percent, to $1.3 billion, while consumer-loan activity jumped 9.6 percent, to $966.7 million.

Old National is the state’s largest financial services holding company and has $8.7 billion in assets. It operates branches in Indiana, Illinois and Kentucky, including 48 in the Indianapolis area.
 

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