ONB - Old National Announces Completion of Merger with CapStar | Benzinga
EVANSVILLE, Ind., April 01, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:ONB) – Old National Bancorp ("Old National") today announced the closing of its previously-announced merger with Nashville-based CapStar Financial Holdings, Inc. ("CapStar"), the holding company for CapStar Bank, as of April 1.
"This partnership is an incredible cultural fit and a natural extension of our growth strategy that allows us to introduce our client- and community-centered approach to banking to several strong, vibrant Southeastern communities," said Old National Chairman and CEO Jim Ryan. "We are excited to have reached this important milestone and to officially welcome CapStar clients and team members to the Old National family."
After closing of the merger, Old National has approximately $52 billion of assets and $29 billion of assets under management (on a pro forma basis using December 31, 2023 data), making it among the top 30 banking companies headquartered in the U.S.
CapStar Bank will operate as a division of Old National Bank prior to the banking centers and systems conversions, which is anticipated to occur in the 3rd quarter of 2024.
ABOUT OLD NATIONAL
Old National Bancorp is the holding company of Old National Bank, which is the sixth largest commercial bank headquartered in the Midwest. Tracing our roots to 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients and in the communities it serves. In addition to providing extensive services in retail and commercial banking, Old National offers ...