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Grand Rapids Business Journal
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Courtesy Old National Bancorp
Courtesy First Midwest Bancorp
A bank with West Michigan locations is merging with First Midwest Bancorp to create a new entity with $45 billion in combined assets.
Evansville, Indiana-based Old National Bancorp (Nasdaq: ONB) and Chicago-based First Midwest Bancorp (Nasdaq: FMBI), said on Tuesday that they 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.
The transaction is expected to close in late 2021 or early 2022 subject to customary closing conditions, including regulatory and shareholder approvals.
Old National and First Midwest Announce Merger to Create a Premier Midwestern Bank streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.