Old National Bancorp (NASDAQ:ONB) Q1 2022 Earnings Conference Call April 26, 2022 10:00 AM ET

Company Participants

Jim Ryan - Chief Executive Officer

Brendon Falconer - Chief Financial Officer

Mark Sander - President & Chief Operating Officer, First Midwest Bank

Jim Sandgren - Chief Executive Officer, Commercial Banking

John Moran - Chief Strategy Officer

Conference Call Participants

Scott Siefers - Piper Sandler

Ben Gerlinger - Hovde Group

Terry McEvoy - Stephens

Chris McGratty - KBW

Jon Arfstrom - RBC Capital Markets

Operator

Good morning. Welcome to the Old National Bancorp First Quarter 2022 Earnings Conference Call. This call is being recorded and has been made accessible to the public in accordance with the SEC's Regulation FD.

Corresponding presentation slides can be found on the Investor Relations page at oldnational.com and will be archived there for 12 months. Management would like to remind everyone that certain statements on today's call may be forward-looking in nature and are subject to certain risks, uncertainties and other factors that could cause actual results or outcomes to differ from those discussed. The company refers you to its forward-looking statement legend in the earnings release and presentation slides.

The company's risk factors are fully disclosed and discussed within its SEC filings. In addition, certain slides contain non-GAAP measures, which management believes provide more appropriate comparisons. These non-GAAP measures are intended to assist investors' understanding of performance trends. Reconciliations for these numbers are contained within the appendix of the presentation.

I'd now like to turn the call over to Jim Ryan for opening remarks. Mr. Ryan?

Jim Ryan

Thank you, Amber. Good morning. We are pleased to discuss our first quarter results and update you on our transformational merger with First Midwest.

Let's start on slide 4. First, I'd like to highlight our recently published ESG report, which you can find on our website. Second, Old National was recently recognized for the 11th consecutive year by Ethisphere Institute as one of the world's most ethical companies. Old National didn't just start thinking about corporate social responsibility recently, we have a long-standing practice of being ethical, demonstrating good corporate governance, supporting our communities, being equitable and inclusive, and being committed to sustainability. I invite you to learn more about our commitments by reviewing the ESG page on our website.

Moving to slide 5. We were pleased to close our merger with First Midwest on February 15. All reported results include the impact of the merger since closing. Our systems conversion and branding changes will take place in July and we just completed our first successful MRQ [ph] conversion over the weekend. We are planning two more MRQ conversions, which should give us even more confidence as we head into July.