Old National Bancorp. (NASDAQ:ONB) Q1 2016 Earnings Conference Call - Final Transcript
May 02, 2016 • 11:00 am ET
Robert G. Jones
not-so-positive data, and then all is good the following month. Despite that trend, there remains a very positive feeling amongst our clients towards the economy. Clients and prospects still have healthy sales pipelines and good economic activities occurring in all parts of our franchise, particularly in our newer markets.
The M&A market within banking appears to have moderated some. We have seen fewer books. This could be reflective of our stated goal of being very selective in any potential deal or it may be a sign that, like us, many of the traditional Midwest acquirers are focused on integration and execution.
And finally, while this call contained a great deal more than just our earnings, I did not want to lose sight of what I feel was a very solid quarter. We coupled good loan growth with strong credit metrics, which reflects the quality of the franchise that we have built.
Our ongoing focus on expense management was not only evident this quarter, but also should continue to be a trend as we look forward. The areas of weakness for the quarter were primarily driven by market forces, and we are encouraged by the positive momentum that we have seen so far in this quarter in these areas.
Based on our first quarter performance and the activity that we are seeing occurring in our markets, our outlook for the balance of the year is positive and consistent with the guidance that we gave you last quarter, with a slight shift to a more positive view, if economic activity and client optimism continues to improve.
With those closing comments, we'll be happy to answer any questions. Holly, will you open up the lines?