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Old National Bank

Old National Bank is a regional bank with nearly 200 retail branches
operated by Old National Bancorp and based in Evansville, Indiana. With
Old National Bancorp
assets at $20.9 billion and 185 banking centers, Old National Bancorp is the
largest financial services bank holding company headquartered in Indiana and
one of the top 100 banking companies in the U.S.[2] Its primary banking
footprint is in Indiana, Kentucky, Michigan, Minnesota, and Wisconsin.

Contents
History
Services Trading Old National Bank
name
References
Type Public
Further reading
External links Traded as NASDAQ: ONB (htt
ps://www.nasdaq.c
om/symbol/onb)
S&P 600
History Component
The bank was founded in 1834 as the city's first bank. It has operated under Industry Finance
several names, including Evansville National Bank and Old State National Founded 1834 (as Evansville
Bank. In 1922, it was officially named Old National Bank. At the time the stock National Bank)
market crashed in 1929, there were 11 banks operating in Evansville; by 1935, Headquarters Evansville, Indiana,
seven of those banks had been forced to close their doors. Old National was one U.S.
of the four that continued to operate. In anticipation of the impending reform Number of 180+
of banking regulations at the state and federal levels in the late 1980s and early locations
1990s, the bank holding company called Old National Bancorp was formed in Area served Indiana, Kentucky,
1983 as a multi-bank holding company and now operates in Indiana, Michigan, Illinois, Michigan,
Wisconsin, Kentucky and Illinois[3] Wisconsin,
Minnesota
In November 1995, Old National acquired the Greencastle-based First United
Key people James "Jim" Ryan,
Savings Bank for $18 million in stock.[4][5] In the following year, Old National CEO
acquired the Bloomington-based Workingmens Capital Holdings with its
Products Financial Services
Workingmens Federal Savings Bank subsidiary for an undisclosed amount in
stock.[6] Total assets $20.0 billion
Number of 2,900+ (2019)
Old National participated in the Treasury Department's Troubled Asset Relief employees
Program (TARP) with the Treasury Department buying $100 million in Website www.oldnational
preferred, non-voting stock. However, by March 2009 Old National had .com (https://www.o
repurchased all of its outstanding stock and had fully exited the TARP program. ldnational.com/)

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In 2009, Charter One's Indiana

bank branches became Old
National Bank after Old National
Bank bought Charter One's
Indiana operations.[7][8] In
January 2011, Old National
acquired Bloomington-based
Monroe Bancorp with its Monroe
Bank subsidiary for $90 million
An Old National Bank location in
in stock.[9][10] Later that year,
Granger, Indiana
Integra Bank was closed by the
Federal Deposit Insurance
Corporation and all deposit accounts, excluding certain brokered deposits,
were transferred to Old National.[11] In 2012, Old National acquired 24 retail
bank branches of Bank of America in northern Indiana and southwest
Michigan.[12] In 2014, Old National acquired four banks: Tower Bank in Fort
Old National Bank's Downtown
Wayne, Indiana, United Bank in Ann Arbor, Michigan, Lafayette Savings
Evansville riverfront headquarters was
Bank in Lafayette, Indiana, and Founders Bank & Trust in Grand Rapids, the first highrise in the state of Indiana
Michigan. to be built with LEED principles.[1]

In January 2016, Anchor BanCorp Wisconsin, the parent company of

AnchorBank, the third-largest bank based in Wisconsin, announced that Old National intends to buy Anchor for
approximately $461 million. The transaction closed in May of the same year. [13]

In August 2017, Old National agreed to buy Anchor Bank of Minnesota for $303 million. The acquisition will add 17
locations in the Twin Cities and 1 in Mankato plus $1.7 billion in deposits and $2.1 billion in assets. [14]

Services
The company offers cash management services, lease financing, debit cards, online banking, and other electronically
accessed banking services. Old National Bancorp, through other subsidiaries, also provides various services, including
investment advisory and wealth management, investment and brokerage, investment consulting, and insurance agency
services.

In 1995, ONB was ranked number one in earnings momentum by banking journal Financial World. The bank was rated
the 28th top performing bank in the nation for 2008 by Bank Director magazine.

References
1. "Old National Place" (http://www.emporis.com/en/wm/bu?id=oldnationalplace-evansville-in-usa). Emporis. Retrieved
2008-10-17.
2. "Old National Bank Corporate Profile" (http://www.snl.com/irweblinkx/corporateprofile.aspx?IID=100391). SNL
Financial. Retrieved 2017-05-31.
3. "About Old National" (https://www.oldnational.com/about/our-company/your-bank-for-life). Old National Bank.

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4. DeWitte, Dave (October 1, 1994). "Old National Buying Bank With Bloomington Locations \" (http://nl.newsbank.com/n
l-search/we/Archives?p_product=EVCB&p_theme=realcities&p_action=search&p_maxdocs=200&p_topdoc=1&p_text
_direct-0=0EAE49C1C99C3DC4&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=G
ooglePM). Evansville Courier & Press. p. C7. "Old National Bancorp plans to enter the Bloomington, Ind., banking
market with the acquisition of a thrift based in Greencastle. First United Savings Bank of Greencastle has agreed to a
stock-swap merger with Old National valued at about $18 million."
5. Werth, Brian (January 27, 1996). "First United changing its name - ONB Bank to offer expanded lending services" (htt
p://nl.newsbank.com/nl-search/we/Archives?p_product=HTBIN&p_theme=htbin&p_action=search&p_maxdocs=200&
p_topdoc=1&p_text_direct-0=1446E93498659718&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:
D&s_trackval=GooglePM). Bloomington Herald-Times. "Beginning Thursday, First United Savings Bank in
Bloomington, will become ONB Bank, a subsidiary of Evansville-based Old National Bancorp. Old National Bancorp is
a $4.8 billion multi-bank holding company, formed in 1982. It is the largest Indiana-based bank in the state, with 122
banking offices operating from 26 affiliate banks. Earnings for 1995 are expected to be more than $50 million,
company officials said... Old National Bancorp actually completed a merger with First United Savings, which is based
in Greencastle, last November."
6. Werth, Brian (October 19, 1996). "Merger creates Workingmens/ONB" (http://nl.newsbank.com/nl-search/we/Archive
s?p_product=HTBIN&p_theme=htbin&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=1446EA032E
71FBF0&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM). Bloomington
Herald-Times. "One of Bloomington's oldest businesses - 111-year-old Workingmens Federal Savings Bank - officially
will become Workingmens/ONB Bank at the end of business today. The ONB Bank office in Fountain Square Mall at
the corner of Kirkwood and College avenues will close and operations will be blended into the Workingmens building
at 121 E. Kirkwood Ave... The merger of Workingmens and ONB was announced in April, but it has taken this long to
get the necessary stockholder and regulatory approval. ONB stands for Old National Bancorp of Evansville. It is the
state's largest Indiana-based bank holding company, with assets of more than $5 billion."
7. http://www.ibj.com/html/detail_page.asp?content=34134
8. Corbin, Bryan (November 25, 2008). "ONB acquiring Charter One branches in Central Indiana" (http://archive.courierp
ress.com/business/onb-acquiring-charter-one-branches-in-central-indiana-ep-447939301-324598831.html). Evansville
Courier & Press.
9. Wersich, Carol (October 6, 2010). "ONB buying bank in Bloomington" (http://archive.courierpress.com/business/32457
8021.html/). Evansville Courier & Press.
10. Orr, Susan (January 3, 2011). "Old National, German American complete separate acquisitions" (http://archive.courier
press.com/business/old-national-german-american-complete-separate-acquisitions-ep-445902256-324573771.html).
Evansville Courier & Press.
11. Orr, Susan (August 21, 2011). "The last hours and emotional toll of Integra's takeover" (http://archive.courierpress.co
m/business/the-last-hours-and-emotional-toll-of-integras-takeover-ep-445246151-324567181.html/). Evansville
Courier & Press.
12. "Old National Bank to Acquire Branches in northern Indiana and southwestern Michigan" (https://web.archive.org/web/
20130115023427/https://www.oldnational.com/pdfs/News-Releases/Old-National-Bank-to-Acquire-Branches-in-Northe
rn-Indiana-and-Southwestern-Michigan.pdf) (PDF) (Press release). Old National Bank. January 9, 2013. Archived
from the original (https://www.oldnational.com/pdfs/News-Releases/Old-National-Bank-to-Acquire-Branches-in-Northe
rn-Indiana-and-Southwestern-Michigan.pdf) (PDF) on January 15, 2013. Retrieved January 9, 2013.
13. Newman, Judy (January 13, 2016). "Indiana bank's purchase of Anchor BanCorp in line with industry's consolidation
trend" (http://host.madison.com/wsj/business/indiana-bank-s-purchase-of-anchor-bancorp-in-line-with/article_4a27772
b-901d-5409-9d61-a6c732e82276.html). Wisconsin State Journal.
14. Kennedy, Clare (August 8, 2017). "Indiana bank to acquire Anchor for $303M" (http://finance-commerce.com/2017/08/
indiana-bank-to-acquire-anchor-for-303m/). Finance & Commerce. Retrieved August 8, 2017.

Further reading
Bronstein, Barbara F., "In Evansville, All the Top Players are Local," American Banker, March 10, 1995, p. 7.

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Meschi, Robert L., and Kurt Badenhausen, "The Big Mo: FW Grades America's 100 Largest Banks on Their Earnings
Momentum," Financial World, February 21, 1995.
Old National Bank 150th Anniversary, 1834-1984: From Evansville's First to Evansville's Largest, Evansville, Ind.: Old
National Bank, 1984.
Perrone, Ellen, "Old National to Increase Its Out-Of-State Influence," Indianapolis Business Journal, May 22, 1995,
p. 9B.
International Directory of Company Histories, Vol. 15. St. James Press, 1996.

External links
Official website (https://www.oldnational.com/)
Yahoo! - Old National Bank Stock (https://finance.yahoo.com/q/ecn?s=ONB)

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This page was last edited on 12 June 2019, at 21:25 (UTC).

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