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Old National Bancorp in Evansville, Ind., has agreed to sell a total of 17 branches in Indiana, Illinois and Ohio to First Mid-Illinois Bancshares and MainSource Financial Group.
February 2 -
Old National Bancorp in Evansville, Ind., has agreed to buy Mutual Underwriters Insurance in Louisville, Ky.
January 27 -
Everything is on the table including the table as banks accelerate their efforts to trim real estate costs. Options range from subleasing branches that are too large to finding professional investors who will buy the branches and lease back a portion of them.
October 8
Old National Bancorp in Evansville, Ind., has agreed to buy 14 of its own branches for $66.2 million.
The $12.1 billion-asset Old National said that by owning the branches instead of leasing them, it would have greater control of the properties, classify the branches as assets on its balance sheet and become more efficient. Old National did not provide an estimated cost savings.
Old National expects its acquisitions of the branches in Indiana and Kentucky to close in the fourth quarter.
Old National would acquire 11 branches from Lawrence Kadish Real Estate in Old Westbury, N.Y.; two branches from Bubeck LLC in Evansville; and one branch from North Main Bank LLC in Evansville.
Ziemer, Stayman, Weitzel & Shoulders was the legal counsel for Old National.
