Old National Bank received an “Outstanding” overall rating under the Community Reinvestment Act for the 2022‑2024 evaluation period, the highest designation awarded to less than 10% of U.S. banks. The rating places the bank in the top decile of community‑investment performance nationwide and signals a strong regulatory standing that can support future growth and merger approvals.
The bank’s performance was driven by nearly $2.4 billion in CRA‑eligible community‑development loans, which supported affordable housing, economic development, and community services for low‑ and moderate‑income residents. In addition, Old National contributed more than 20,000 volunteer hours across ten states, with outstanding ratings on the Investment Test in all five multistate metropolitan statistical areas and five states, and on the Lending Test in three of five MMSAs and Indiana.
While the Lending and Investment Tests earned “Outstanding” ratings, the Services Test received a “High Satisfactory” rating, a detail that provides a fuller picture of the bank’s overall performance. The rating also represents a significant improvement from the bank’s “Satisfactory” rating in the previous CRA examination, underscoring a clear upward trajectory in community‑investment execution.
Jim Ryan, Old National’s Chairman and CEO, said, “This recognition affirms the work our teams do every day to partner with and uplift the communities we proudly serve.” He added, “During the evaluation period, Old National provided nearly $2.4 billion in CRA‑eligible community development loans that supported affordable housing, economic development, community services for low‑and moderate‑income people, and revitalization or stabilization of low‑to‑moderate income communities. Every dollar provided makes a positive impact on our communities.”
The Outstanding rating enhances Old National’s reputation as a community‑focused regional bank, differentiates it from competitors, and positions it favorably for the upcoming CRA modernization that will introduce new tests and data requirements. The bank’s continued investment in community development and employee volunteerism signals sustained commitment to the communities it serves, reinforcing stakeholder confidence and potentially easing future regulatory approvals.
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