(ONB) Old National Bancorp ANSOFF Analysis Research |
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This Old National Bancorp Ansoff Matrix Analysis helps you quickly evaluate growth options—market penetration, market development, product development, and diversification—in a concise, actionable format; this page includes a real preview/sample so you can review style and substance before buying, and purchasing the full version delivers the complete, ready-to-use analysis.
Market Penetration
Deposit accounts in core markets
Old National Bancorp already sells non-interest-bearing demand, checking, NOW, savings, money market, and time deposits, so the market penetration move is to make those accounts the primary operating hub in its existing footprint. Deepening household and commercial relationships can lift average deposit balances, lower funding costs, and widen cross-sell without changing the product set. In 2025, that matters because stable core deposits remain the cheapest funding source in banking, and even modest balance growth can support loan growth and margin.
Commercial lending share
Old National Bancorp can lift commercial lending share by selling more credit to the same borrowers and business clients, since its loan mix already spans HELOCs, residential mortgages, personal loans, commercial financing, commercial property loans, letters of credit, and lease financing. The move deepens share of wallet in current markets and current products, which is cheaper than chasing new customers and can raise fee and spread income.
Treasury management relationships
Old National Bancorp uses treasury management to deepen commercial ties by tying operating accounts to cash management, payments, and controls. That makes the relationship stickier and lifts fee income without taking much extra credit risk. In a market penetration move, each added treasury service can raise share of wallet and lower runoff from core business clients.
Wealth cross-sell
Wealth cross-sell lets Old National Bancorp layer private banking, brokerage, trust administration, and investment advisory onto existing deposit and lending ties, so the bank can lift share of wallet without chasing new customers. This works best with affluent households and business owners, where one relationship can support checking, loans, trust, and fee income at once.
- Boosts noninterest income from one client base.
- Fits affluent households and owners best.
- Uses existing deposit and loan relationships.
- Improves retention through bundled services.
The move is especially useful because wealth products tend to be sticky and fee-based, which can smooth earnings when spread income slows. For Old National Bancorp, the cross-sell play is a direct market penetration path: serve current clients more deeply, win more wallet share, and raise lifetime value with limited new-customer spend.
Digital banking retention
Old National Bancorp’s digital banking, mobile app, debit/ATM cards, and phone banking keep customers inside the existing footprint and make daily use easier. That matters for retention because self-service cuts branch load and service cost, and U.S. mobile banking is now a core channel for most retail customers.
- Boosts engagement without new branches
- Improves retention through convenience
- Lowers servicing costs over time
Old National’s Growth Play: Deepen Wallet Share
Old National Bancorp’s best market penetration play is to push deeper use of its 2025 deposit, lending, treasury, and wealth accounts inside the same client base. More primary checking, sticky operating balances, and cross-sold fee services can lift share of wallet, cut funding cost, and improve retention without new-product risk.
| Lever | Penetration effect |
|---|---|
| Core deposits | Lower funding cost |
| Commercial treasury | Higher fee income |
| Wealth cross-sell | More wallet share |
| Digital banking | Better retention |
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Market Development
Illinois and Chicago reach
Old National Bancorp’s First Midwest deal gave it a real Illinois and Chicago-area footprint in 2022, turning market development into geographic expansion with the same deposit and lending platform. That lets the bank sell existing products to a larger Midwestern client base without changing its core model. The Chicago metro is still one of the largest U.S. banking markets, so even modest share gains can add low-cost deposits and loan growth.
Tennessee branch footprint
CapStar added a Tennessee branch footprint for Old National Bancorp, giving it a direct presence in a new state. Old National can now sell the same consumer and commercial banking products through that network, so this is a clean market-development move. The deal also expands reach into Nashville, one of the Southeast’s faster-growing banking markets.
Midwest state coverage
Old National Bancorp’s market development play is to deepen coverage across its five-state Midwest footprint: Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. Adding branches and commercial bankers in adjacent city and suburban markets lifts share without changing the core product set, which keeps execution simple. This fits a regional model built for local relationships and cross-sell.
Digital out-of-area reach
Old National Bancorp can use mobile and online banking to reach consumers and small businesses beyond branch markets, so new geography can be tested without opening a center first. That lowers entry cost and speeds deposit and fee-income growth. Digital channels also support cross-sell once a remote customer opens an account.
- Branchless market entry
- Serves consumer and SMB
- Low-cost geography test
- Supports cross-sell
Business expansion into new metros
Old National Bancorp can turn market development into growth by taking commercial financing, commercial property loans, and lease financing into new local business clusters. In 2025, with about $70 billion in assets and a Midwest-Southeast footprint, it can follow clients as they open sites in new metros and win fresh regional accounts.
That model grows revenue without starting from zero, since the bank already knows the borrower, cash flow, and collateral.
- Expand with existing commercial clients
- Sell loans into new metro clusters
- Use Midwest and Southeast reach
- Grow regional accounts faster
Old National Bets on Midwest and Southeast Expansion
Old National Bancorp’s market development play is to push the same banking products into new Midwest and Southeast geographies, especially through acquired branch networks and added commercial bankers. In 2025, with about $70 billion in assets, even small share gains in Chicago, Nashville, and adjacent markets can lift low-cost deposits and loan growth. Digital channels also let it test new markets before opening branches.
| Market development lever | Data point |
|---|---|
| Asset base | About $70 billion, 2025 |
| Key markets | Midwest and Southeast |
| Growth method | Same products, new geographies |
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Product Development
Digital and mobile banking
Old National Bancorp can deepen its digital and mobile banking tools for existing customers, which fits product development. In 2025, that means more self-service payments, faster alerts, and smoother app use, so more transactions move away from branches. Better digital engagement usually lifts retention and lowers service cost per account.
Cash management and merchant services
Old National Bancorp uses cash management and merchant services as add-on products for commercial clients, so the bank can deepen operating ties beyond loans and deposits. That fits product development because it sells more services to the same customer base. These fee-based tools also help diversify revenue away from pure spread income.
Wealth brokerage and trust
Wealth brokerage and trust is product expansion in Old National Bancorp’s existing markets. Brokerage, trust administration, and investment advisory are already established lines, and they deepen the bank’s share of wallet with households that have investable assets. That mix matters because fee income from wealth services can be steadier than spread income when rates move.
Foreign currency and capital markets
Old National Bancorp’s foreign currency exchange and capital markets services expand its product set beyond core retail banking, serving business and advisory clients that need hedging, liquidity, and execution support. These offerings fit product development because they add more specialized services to existing customer relationships. The bank said noninterest income was a key fee driver in 2025, with capital-markets style services helping deepen commercial ties.
- Serves business clients
- Supports FX and hedging
- Deepens fee income mix
Health savings accounts
Health savings accounts fit Old National Bancorp’s product development play: they add a deposit-linked specialty product for existing consumer and employer clients without entering a new market. In 2025, HSA contribution limits rose to $4,300 for self-only coverage and $8,550 for family coverage, plus a $1,000 catch-up for age 55+, which supports steady funding flows.
- Kept within current client base
- Added fee and deposit growth
- Matched 2025 HSA funding limits
Old National’s Fee-Based Growth Engine Gains Momentum in 2025
Old National Bancorp’s product development in 2025 centered on adding more fee-based services for existing clients, especially digital banking, treasury management, wealth, FX, and capital markets. That broadened share of wallet and helped lift noninterest income; Old National Bancorp reported 2025 noninterest income of about $1.1 billion. HSA growth also fits, with 2025 limits at $4,300 self-only and $8,550 family.
| Product | 2025 signal |
|---|---|
| Digital banking | More self-service use |
| Treasury and merchant | Fee income growth |
| Wealth, FX, capital markets | Deeper client ties |
Diversification
Private banking segment
Old National Bancorp's private banking segment targets high-net-worth clients with tailored credit and deposit solutions, so it is a clear move beyond basic retail banking. That shift deepens relationships and raises wallet share, with U.S. household financial assets near $100 trillion supporting demand for advice-led banking. It also fits Ansoff's diversification: new customer base, higher fee and spread potential.
Investment advisory revenue
Investment advisory revenue moves Old National Bancorp beyond spread income by adding fee-based advice and portfolio support, which helps smooth earnings when interest margins tighten. It also fits households focused on wealth preservation and planning, a client base that tends to value recurring guidance over one-time transactions. For a bank with over $50 billion in assets, that shift can make noninterest income a bigger part of the mix.
Institutional capital markets
Old National Bancorp’s institutional capital markets push widens its reach beyond consumer and small-business banking by serving larger commercial and institutional clients with execution and advisory support. That matters because these clients need capital raising, hedging, and market access, not just standard loans. It also deepens fee income and helps Old National compete for higher-value relationships.
Foreign exchange clients
Foreign exchange clients fit Old National Bancorp's diversification push by serving businesses and users with cross-border payment needs. That adds a fee-based, nontraditional line next to core banking, and it can deepen ties with exporters, importers, and other firms with international cash flows.
- Targets cross-border payment demand
- Reaches international businesses and users
- Adds fee income beyond lending
- Expands the bank's service mix
Community development finance
Old National Bancorp’s community development finance diversifies the loan book beyond routine retail and commercial banking by funding public-purpose needs through community development lending and equity investments. That moves the bank into impact-oriented finance, where returns are tied to affordable housing, neighborhood revitalization, and tax-credit structures. It also spreads revenue away from standard spread lending.
- Targets public-purpose capital gaps
- Uses lending and equity tools
- Expands into impact finance
This is a distinct market from core banking because deal flow, underwriting, and investor demand are driven by social outcomes as well as credit metrics. The strategy can deepen ties with municipalities, nonprofits, and sponsors while adding fee and investment income streams.
Old National Broadens Beyond Lending for More Fee Income
Diversification at Old National Bancorp extends into private banking, advisory, capital markets, FX, and community finance, so it adds fee income and widens the client base beyond plain lending. With U.S. household financial assets near $100 trillion and Old National Bancorp above $50 billion in assets, the move targets richer, more complex demand.
| Move | Why it matters |
|---|---|
| Advisory | Fee income |
| FX | Cross-border fees |
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