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Old National Completes Merger with First Midwest

Old National.jpg

Bank will retain Old National name with headquarters in Evansville and Chicago

Old National Bancorp says it has completed its merger with First Midwest. WNIN’s John Gibson has the update:

Old National calls the deal with First Midwest Bancorp an “all-stock merger of equals.”

In a release, the banks say the combined company creates the sixth largest commercial bank headquartered in the Midwest, based on assets.

The two have more than $46 billion of combined assets, with $34 billion under management.

Old National CEO Jim Ryan calls the merger a “historic milestone” for both banking companies.

The combined organization will operate under the Old National name, with dual headquarters in Evansville and Chicago.

Customers can continue to use the ATM network of both banks for cash withdrawals at no charge.

The two companies announced the merger plan last June.