Rabu, 17 Juli 2013

Old National Bank completes acquisition of Southwest Michigan Bank of ... - Mlive Kalamazoo


KALAMAZOO, MI – At 20 Southwest Michigan locations and four in northern Indiana, it is now Old National Bank.


Evansville, Ind.-based Old National completed its previously announced, $20 million acquisition of 24 retail bank branches that were part of Bank of America.


Old National’s blue, yellow white signs, familiar to residents of southwest Indiana, were unveiled on those properties last weekend.


The $9.4 billion financial services holding company announced plans in January to acquire the branches as Bank of America trims its holdings.


Removing+Bank+of+America+3.JPGA work crew removed the Bank of America sign from the bank branch at 318 W. Michigan Ave. on June 18.


Old National Bancorp's President and CEO Bob Jones has said, the acquisition “allows us to accelerate our growth market expansion strategy and strengthens our commitment to our current clients in the Michiana area by providing an enhanced network of banking centers and continued unparalleled client care. It also allows us to fulfill our previously stated desire to expand our franchise into Southwest Michigan communities."


The deal was expected to leave the bank company with a total of more than 200 banking centers, $778.8 million more in deposits and $7.7 million more in loan balances.


Julie Williams Daugherty, executive vice president of Old National Bancorp, chief marketing officer and director of merger integrations, said 175 BOA employees join the Old National fold as part of the acquisition.


Old National already had a few offices in northern Indiana – one in South Bend, one in Mishawaka and one in Elkhart. With the acquisition it has three additional offices in the South Bend/Mishawaka market and an additional office in Elkhart.


The Bank of America branch locations being acquired by Old National Bank:


Michigan


-- Adrian - 1380 S Main St


-- Battle Creek - 6030 B Dr N


-- Battle Creek - 25 Capital Ave SW


-- Battle Creek - 140 Columbia Ave W


-- Benton Harbor - 1803 M-139 S


-- Blissfield - 520 W Adrian St


-- Brooklyn - 131 S Main St


-- Constantine - 1055 S Washington St


-- Jackson - 215 S Jackson St


-- Jackson - 1650 W Michigan Ave


-- Kalamazoo - 220 N Drake Rd


-- Kalamazoo - 5810 Gull Rd


-- Kalamazoo - 318 W Michigan


-- Kalamazoo - 3201 Portgage Rd


-- Kalamazoo - 6338 Stadium Dr


-- Niles - 1903 S 11th St


-- Paw Paw - 118 N Kalamazoo St


-- Portage - 4431 W Centre Ave


-- Portage - 6660 S Westnedge Ave


-- Saint Joseph - 3125 Cleveland


Indiana


-- Elkhart - 320 N Main St


-- South Bend - 1404 E Ireland Rd


-- South Bend - 130 S Main St


-- South Bend - 17330 State Rd 23


Business writer Al Jones may be contacted at ajones5@mlive.com and 269-365-7187. Follow me on Twitter at ajones5_al .







Source: southwest - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGCdrSMVFvKU5xa36cwq28L_fvL9A&url=http://www.mlive.com/business/west-michigan/index.ssf/2013/07/old_national_bank_completes_ac.html

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