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Old National credits managers for profit gain

October 29, 2007
Evansville-based Old National Bancorp today reported that third-quarter profit increased 13.3 percent, to $22.6 million, due to broad gains created by tighter management.

Interest margins widened, credit quality improved and expenses were contained in the quarter ended Sept. 30, said the bank, which has branches in the Indianapolis area.

Return on average equity of 14.2 percent was two percentage points above the same period last year. Return on average assets was 1.15 percent, up from 0.96 percent.
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