“As a combined organization, we will be in an even stronger position to invest, grow and innovate in talent, capabilities and services that will enhance an already superior client experience and further set us apart as a market leader not only in Chicago but across the Midwest.” “First Midwest and Old National are two relationship-focused financial institutions that have rich histories, extremely compatible cultures and a shared commitment to helping our clients achieve financial success,” said Michael Scudder, Chairman and CEO of First Midwest. Becky Skillman, lead independent director for Old National, will retain this position in the combined company. The Board of Directors of the combined company will have 16 directors, consisting of 8 directors from Old National and 8 directors from First Midwest. The complete executive leadership team is expected to be announced prior to close. Thomas Prame, CEO of Community Banking (First Midwest)Ĭhady AlAhmar, CEO of Wealth Management (Old National) Kevin Geoghegan, Chief Credit Officer (First Midwest) Kendra Vanzo, Chief Administrative Officer (Old National) Jim Sandgren, CEO of Commercial Banking (Old National)īrendon Falconer, Chief Financial Officer (Old National) Mark Sander, President and Chief Operating Officer (First Midwest) Michael Scudder, Chairman and CEO of First Midwest Bancorp, will serve as the Executive Chairman and Jim Ryan, Chairman and CEO of Old National Bancorp, will maintain his role as CEO.Īdditional leadership positions for the combined entity include: The new organization will operate under the Old National Bancorp and Old National Bank names, with dual headquarters in Evansville, Indiana and Chicago, Illinois. Following completion of the transaction, former First Midwest stockholders are expected to collectively represent approximately 44% of the combined company.
Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, First Midwest stockholders will receive 1.1336 shares of Old National common stock for each share of First Midwest common stock they own. With nearly 270 combined years of service and a shared commitment to Midwestern values, Old National and First Midwest are two organizations driven by a customer-centric approach to banking, an unwavering commitment to community and a strong focus on corporate social responsibility, making the combined entity the premier choice for employees, clients and shareholders. (“First Midwest”) (NASDAQ: FMBI), jointly announced today they have 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. & CHICAGO-( BUSINESS WIRE)-Old National Bancorp (“Old National”) (NASDAQ: ONB) and First Midwest Bancorp, Inc. Internal applications, then our B2B based Bizapedia Pro API™ might be the answer for you.EVANSVILLE, Ind.
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