Grand Rapids Business Journal
1 of 4
Courtesy Old National Bancorp
Courtesy First Midwest Bancorp
A bank with West Michigan locations is merging with First Midwest Bancorp to create a new entity with $45 billion in combined assets.
Evansville, Indiana-based Old National Bancorp (Nasdaq: ONB) and Chicago-based First Midwest Bancorp (Nasdaq: FMBI), said on Tuesday that they entered into a definitive merger agreement to combine in an all-stock merger of equals transaction with a total market value of $6.5 billion to create a premier Midwestern bank with $45 billion in combined assets.
The transaction is expected to close in late 2021 or early 2022 subject to customary closing conditions, including regulatory and shareholder approvals.
Old National to Merge With Illinois Bank
insideindianabusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insideindianabusiness.com Daily Mail and Mail on Sunday newspapers.
Old National Sees Jump in Quarterly Profit
insideindianabusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insideindianabusiness.com Daily Mail and Mail on Sunday newspapers.
(photo courtesy of Old National Bank)
by: Alex Brown, Inside INdiana Business
Posted:
Feb 23, 2021 / 10:56 AM EST
NEW YORK (Inside INdiana Business) Three Hoosier companies are included in the New York-based Ethisphere Institute’s 2021 list of the “World’s Most Ethical Companies.” The institute says the list recognizes companies “for their unwavering commitment to business integrity.”
Evansville-based Old National Bancorp (Nasdaq: ONB), Columbus-based Cummins Inc. (NYSE: CMI) and Eli Lilly and Co. (NYSE: LLY) in Indianapolis are the only Indiana-based companies to make the list. Cummins has made the list every year since its inception in 2008.
Old National has made the list for the 10th consecutive year and is one of only five banks on this year’s list. Chief Executive Officer Jim Ryan calls the accomplishment an “exceptional milestone.”
Indiana Companies Included Among Most Ethical
insideindianabusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insideindianabusiness.com Daily Mail and Mail on Sunday newspapers.