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Business

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Old National annual earnings up 10%

Old National Bancorp today reported 2013 earnings of $100.9 million, or $1 per diluted common share, a 10 percent increase from the $91.7 million, or 95 cents a share, posted for 2012.

The Evansville-based holding company for Old National Bank also reported fourth-quarter earnings of $24.6 million, or 25 cents per diluted common share, a 7 percent increase from the $23 million, or 23 cents a share, posted for the same three months of the prior year.

Last year’s earnings were the company’s highest since 2002. And the percentage of loans written off as bad – 0.1 percent – was the company’s lowest since 1984, officials said.

Bob Jones, president and CEO, said in a statement that “it truly was a historic year for Old National.”

Old National is expected to close on its acquisition of Fort Wayne-based Tower Financial Corp. this month.

sslater@jg.net

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