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Old National Bancorp One Main Street Evansville , IN 47708 oldnational.com Exhibit 99.1 OLD NATIONAL BANCORP Media : Kathy A. Schoettlin ( 812 ) 465-7269 Investors : Lynell J. Walton ( 812 ) 464-1366 Old National reports 1st quarter earnings of $ 86.8 million , or $ 0.52 per share Evansville , Ind . ( April 19 , 2021 ) Old National Bancorp ( NASDAQ : ONB ) reports 1Q21 net income of $ 86.8 million , diluted EPS of $ 0.52 . Adjusted¹ net income of $ 86.4 million , or $ 0.52 per diluted share . CEO COMMENTARY : " Old National's positive first quarter results were driven by record first - quarter commercial loan production , strong mortgage revenue and excellent credit quality , " said Chairman and CEO Jim Ryan . " We also continue to work with our small business and non - profit clients who are affected by the pandemic to help them gain access to Paycheck Protection Program funds and also to complete the loan forgiveness process . " FIRST QUARTER HIGHLIGHTS² : Net income of $ 86.8 million Net income • Earnings per diluted share of $ 0.52 Net interest income / NIM Operating Performance • · • • Loans and Credit Quality • Net interest income on a fully taxable equivalent basis of $ 151.6 million compared to $ 164.6 million Net interest margin on a fully taxable equivalent basis of 2.94 % compared to 3.26 % Pre - provision net revenue¹ ( " PPNR " ) of $ 90.6 million Adjusted PPNR¹ of $ 91.3 million , up 17.9 % over first quarter of 2020 Noninterest expense of $ 117.7 million Adjusted noninterest expense¹ of $ 115.0 million Efficiency ratio¹ of 55.57 % Adjusted efficiency ratio¹ of 54.25 % End - of - period total loans³ of $ 13,975.5 million compared to $ 13,849.7 million о Total commercial loans increased $ 59.0 million , excluding the $ 181.1 million increase in PPP loans First - quarter total commercial production of $ 718.0 million Provision for credit losses was a recapture of $ 17.4 million • March 31 pipeline of $ 2.6 billion • • Net recoveries of $ 5 thousand compared to net recoveries of $ 1.1 million Non - performing loans of 1.13 % of total loans compared to 1.20 % • Return on average common equity of 11.69 % Return Profile & Capital • Return on average tangible common equity¹ of 18.88 % • Adjusted return on average tangible common equity¹ of 18.79 % No shares of common stock were repurchased during the current quarter $ 1.5 million in ONB Way charges Notable Items $ 1.2 million in tax credit amortization 1 Non - GAAP financial measure that Management believes is useful in evaluating the financial results of the Company - please refer to the Non GAAP reconciliations contained in this release 2 Comparisons are on a linked - quarter basis , unless otherwise noted ³ Includes loans held for sale