ONB to Expand Midwest Presence With $1.4B Bremer Acquisition, Stock Up [Yahoo! Finance]
Old National Bancorp (ONB)
Last old national bancorp earnings: 4/20 07:00 am
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Source: Yahoo! Finance
Financial Corp. (“Bremer”). The transaction is valued at $1.4 billion. The consideration will be paid through 50 million shares of ONB and $315 million in cash. Per the agreement, Old National Bancorp will pay $26.22 per share in cash with a fixed exchange ratio of 4.182 ONB shares for each share of Bremer. The merger agreement has been approved by the board of directors of both entities. The deal is anticipated to be completed in mid-2025, subject to requisite regulatory approvals and the approval of Bremer's shareholders. Upon closure, Bremer will be merged with ONB. St. Paul, MN-based Bremer operates 70 branches across Minnesota, Wisconsin and North Dakota. As of Sept. 30, 2024, the firm had roughly $16.2 billion in assets, $11.5 billion in total loans and $13.2 billion in deposits. Otto Bremer Trust owns an 86% stake in Bremer. Upon the deal completion, the trust will have roughly 11% stake in ONB and a trustee of the Trust will join Old National Bancorp's board. The com
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News
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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