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Old National is taking advantage of low interest rates by buying more than a dozen branches in solid real estate markets. An expected accounting rule change could encourage more banks to do the same.
October 23 - Ohio
Fifth Third Bancorp in Cincinnati reported a higher third-quarter profit, although the restructuring of a commercial credit cut into the results.
October 20 -
As the interest-rate can gets kicked down the road once again, PNC Financial Services Group's Bill Demchak plans to play along.
October 14
Old National Bancorp in Evansville, Ind., reported improved third-quarter profit on growth in fees and consumer and commercial real estate lending.
The $11.9 billion-asset company's net income
Net interest income fell 10.4% to $97.1 million. Consumer loans rose 16.6% to $1.6 billion, and commercial real estate loans rose 12.7% to $1.9 billion.
Noninterest income grew 85.7% to $58.8 million, on higher wealth management fees, mortgage banking and company-owned life insurance.
Noninterest expense lifted 2.7% to $102.6 million. The efficiency ratio improved to 61.97%.
