Old National buying 24 branches from Bank of America

Back to TopCommentsE-mailPrintBookmark and Share

Bank of America Corp. plans to sell 24 branches in northern Indiana and southwest Michigan with about $779 million in deposits to Old National Bancorp.

Terms weren’t disclosed in a statement Wednesday from Old National, which is based in Evansville and is the largest bank headquartered in Indiana.

The branches are located in the northern Indiana cities of South Bend and Elkhart, and the Southwest Michigan cities of Adrian, Battle Creek, Benton Harbor, Blissfield, Brooklyn, Constantine, Jackson, Kalamazoo, Niles, Paw Paw, Portage, and St. Joseph.

Bank of America, based in Charlotte, N.C., has been selling assets and trimming branches as part of plan to streamline the firm and cut risk. It’s ranked second by assets among U.S. banks.

The acquisition is expected to close in the third quarter.

Old National shares rose 14 cents Wednesday morning, to $12.92 each.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ