Bremer deal adds 'crown jewel' to Old National's Twin Cities plan [Yahoo! Finance]
Old National Bancorp (ONB)
Last old national bancorp earnings: 4/20 07:00 am
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Source: Yahoo! Finance
Bremer Financial, long rumored as an acquisition target , finally pulled the trigger on Monday. The St. Paul, Minnesota-based bank agreed to sell to Old National Bancorp for $1.4 billion in cash and stock. The deal, targeted to close in mid-2025, is the fourth largest bank merger announced this year by value and the fifth of 2024 that topped the $1 billion threshold. The $54 billion-asset Old National in Evansville, Indiana, said in a press release that it would gain $16.2 billion of assets, $11.5 billion of loans and $13.2 billion of deposits. It would acquire 70 branches, comprising 48 in Minnesota, 14 in North Dakota and eight in Wisconsin. Old National would become the third-largest bank in the Minneapolis-St. Paul metropolitan area by market share. Old National Chairman and CEO Jim Ryan highlighted in the release Bremer's "strong deposit franchise" and a "diversified loan portfolio accentuated by exceptional credit quality." For Old National, bigger means better, Ryan
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ONB
Earnings
- 10/22/24 - In-Line
ONB
Sec Filings
- 12/19/24 - Form 4
- 12/11/24 - Form 4
- 12/10/24 - Form 4
- ONB's page on the SEC website