Old National Bank — deep review (Evansville, Vanderburgh County, IN)
TL;DR
- Old National Bank (NASDAQ: ONB) is the largest Indiana-headquartered bank, with ~$53 billion in assets following the 2022 merger with First Midwest Bancorp.
- Customer-facing complaints on the CFPB Consumer Complaint Database are dominated by mortgage and deposit-account disputes; complaint volume is moderate relative to the bank’s size and complaint resolution rate is consistently above industry median.
- Regulatory record (FDIC, OCC, CFPB) is comparatively clean for a bank of this size — no major civil-money penalties in the past decade beyond routine compliance matters.
1. What they do
Old National Bancorp operates Old National Bank, a regional commercial and consumer bank with roots in Evansville dating to 1834. Service footprint covers Indiana, Illinois, Wisconsin, Michigan, Minnesota, Kentucky, and Tennessee. Public company filings (SEC 10-K) provide consolidated financial detail.
2. What customers actually report
- Mortgage servicing complaints — the most common category in CFPB filings, similar to industry pattern. Issues include escrow disputes, payment-application timing, and loss-mitigation communication.
- Deposit-account complaints — overdraft fees, ATM/POS disputes. ONB substantially restructured its overdraft program in 2022–23 (eliminated NSF fees, lowered overdraft fee), aligning with broader bank-industry reform.
- 2023 First Midwest integration — merger-related system conversion produced a temporary spike in account-access complaints, common to large bank conversions; resolved within a few months.
- Branch and ATM availability — positive signal in Indiana; ONB has retained physical branches in many small Indiana towns where larger banks have closed.
3. What the data shows
- SEC 10-K (2024): ~$53.6B assets; net income ~$494M.
- CFPB Consumer Complaint Database: moderate volume; company-response rate near 100%; timely-response rate near 100%.
- FDIC Call Reports: CET1 ratio comfortably above regulatory minimums.
- BBB profile: A+ accredited; complaint volume low relative to footprint.
4. How they handle complaints
Old National maintains a tiered customer-service escalation through branch managers, regional consumer-affairs, and the CFPB / OCC complaint channels. CFPB data shows ONB consistently resolves complaints with explanation or relief. Overdraft reform in 2022–23 was self-initiated and resulted in measurable reductions in NSF/overdraft revenue.
5. IBE Score: 7/10 — reasoning
Long operating history; clean regulatory record relative to peers; self-initiated overdraft reform; physical-branch presence in underserved Indiana communities; offset only by routine industry-pattern complaints. 7/10 places ONB among the better-rated reviews on this site.
6. Verified public sources
- Old National Bancorp 2024 Annual Report (10-K)
- CFPB Consumer Complaint Database — Old National Bank
- FDIC BankFind — Old National Bank Call Reports
- ONB overdraft reform announcement (2022)
- BBB profile — Old National Bank
7. What this review is, and what it isn’t
- Independent. No payment, sponsorship, or advertising relationship between IBE and the reviewed business.
- Public-record only. Every claim above traces to a source listed in section 6. Where data couldn’t be verified, the review either omits the claim or labels it as a pattern reported by customers (not a finding).
- Not legal or medical advice. If a specific transaction went wrong, document it in writing, escalate to the company first, then to the relevant regulator (Indiana AG, IDOI, IURC, CFPB, FDA, NHTSA, etc.) as appropriate.
- Updated as evidence comes in. If you have a primary-source document that changes any claim above — a court filing, a regulatory order, a settlement agreement — submit it via the tip form. Reviews are revised when verifiable evidence warrants.
This review reflects publicly available information as of the review date listed above. IBE has no commercial relationship with Old National Bank or its parent entities.