Old National Bancorp Announces Director Changes and Updates
Ticker: ONBPP · Form: 8-K · Filed: Jan 21, 2025 · CIK: 707179
| Field | Detail |
|---|---|
| Company | Old National Bancorp /In/ (ONBPP) |
| Form Type | 8-K |
| Filed Date | Jan 21, 2025 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-change, governance, financial-reporting
Related Tickers: ONB
TL;DR
ONB board shakeup: Ryan out, Thompson in. Financials and exec pay updates filed.
AI Summary
Old National Bancorp announced on January 21, 2025, the departure of director John R. Ryan and the election of new director Michael L. Thompson. The company also reported on compensatory arrangements for certain officers and provided updates on financial results and other events.
Why It Matters
Changes in board composition can signal shifts in strategic direction or governance, while updates on financial results and officer compensation are crucial for investors to assess the company's performance and management.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and financial reporting, with no immediate indication of significant financial distress or major strategic shifts.
Key Players & Entities
- Old National Bancorp (company) — Registrant
- John R. Ryan (person) — Departing Director
- Michael L. Thompson (person) — Newly Elected Director
- January 21, 2025 (date) — Report Date
FAQ
Who has departed from the board of directors at Old National Bancorp?
John R. Ryan has departed from the board of directors.
Who has been elected as a new director to the board of Old National Bancorp?
Michael L. Thompson has been elected as a new director.
What is the exact date of this current report filing?
The exact date of this current report filing is January 21, 2025.
What are the main items reported in this 8-K filing?
The filing covers Results of Operations and Financial Condition, Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers, and Other Events.
What is the Standard Industrial Classification code for Old National Bancorp?
The Standard Industrial Classification code for Old National Bancorp is 6021, which corresponds to NATIONAL COMMERCIAL BANKS.
Filing Stats: 745 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2025-01-21 07:06:20
Filing Documents
- onb-20250121.htm (8-K) — 29KB
- onb_exhibit991er4q24.htm (EX-99.1) — 1123KB
- capture.jpg (GRAPHIC) — 14KB
- 0001628280-25-001934.txt ( ) — 1388KB
- onb-20250121.xsd (EX-101.SCH) — 2KB
- onb-20250121_def.xml (EX-101.DEF) — 7KB
- onb-20250121_lab.xml (EX-101.LAB) — 27KB
- onb-20250121_pre.xml (EX-101.PRE) — 18KB
- onb-20250121_htm.xml (XML) — 5KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On January 21, 2025, Old National Bancorp (the "Company") issued a press release ("Press Release") reporting its financial results for the fourth quarter and full year 2024. The Press Release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. A slide presentation outlining fourth quarter of 2024 earnings, strategic developments, and the Company's financial outlook will be available on the "Investor Relations" section of the Company's website to complement the conference call to be held on January 21, 2025, at 9:00 a.m. CDT and will be accessible at http://www.oldnational.com immediately before the conference call begins. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On January 21, 2025, the Company announced that Mark G. Sander, President and Chief Operating Officer, has indicated his intention to retire effective as of June 30, 2025. Additional information relating to Mr. Sander's retirement is contained in the Press Release furnished as Exhibit 99.1 hereto.
01 Other Events
Item 8.01 Other Events. On January 21, 2025, the Company announced that Daniel S. Hermann has been appointed Lead Independent Director of the Company. Mr. Hermann has been a member of the Company's board of directors since 2020 and is the founding partner of Lechwe Holdings LLC, founder of AmeriQual Group, LLC and former President and Chief Executive Officer of Black Beauty Coal Co. He succeeds Rebecca S. Skillman, former Indiana Lt. Governor and former President and CEO of Radius Indiana, who has served as Lead Independent Director of the Company since 2016. Ms. Skillman will continue her service as a member of the Company's board of directors, a position she has held since 2013. Additional information relating to the lead independent director transition is contained in the Press Release furnished as Exhibit 99.1 hereto.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release issued by Old National Bancorp on January 21, 2025. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 21, 2025 OLD NATIONAL BANCORP By: /s/ Nicholas J. Chulos Nicholas J. Chulos Executive Vice President, Chief Legal Officer and Corporate Secretary 3