Key Developments: Old National Bancorp (ONB.N)
13.32USD
17 May 2013
$0.31 (+2.38%)
$13.01
$13.13
$13.34
$13.09
275,683
153,445
$14.27
$10.87
Latest Key Developments (Source: Significant Developments)
Old National Bancorp Declares Quarterly Cash Dividend
Old National Bancorp announced that the Board of Directors also declared a quarterly cash dividend of $.10 per share on the Company's outstanding shares. This dividend is payable June 17, 2013, to shareholders of record on June 3, 2013. Full Article
Old National Bancorp Increases Quarterly Cash Dividend 11.1%
Old National Bancorp announced that its Board of Directors declared an increase in its quarterly common stock dividend to $.10 per share on the Company's outstanding shares. This new dividend level represents an 11.1% increase over the previous cash dividend level of $.09 per common share. The dividend is payable March 15, 2013, to shareholders of record on March 1, 2013. For purposes of broker trading, the ex-date of the cash dividend is February 27, 2013. Full Article
Old National Bancorp To Acquire Branches In Northern Indiana And Southwestern Michigan
Old National Bancorp announced that its bank subsidiary, Old National Bank, entered into a purchase and assumption agreement to acquire 24 retail bank branches of Bank of America. The branches are located in the Northern Indiana cities of South Bend and Elkhart, and the Southwest Michigan cities of Adrian, Battle Creek, Benton Harbor, Blissfield, Brooklyn, Constantine, Jackson, Kalamazoo, Niles, Paw Paw, Portage, and St. Joseph. Deposit and loan balances to be included in the transaction were $778.8 million and $7.7 million, respectively, as of August 2012. This transaction is subject to regulatory approval from the Office of the Comptroller of the Currency (OCC) and the satisfaction of customary closing conditions. Terms of the transaction were not disclosed. Full Article
Old National Bancorp Completes Merger With Indiana Community Bancorp And Declares Common Stock Dividend
Old National Bancorp announced that Board of Directors also declared a common stock dividend of $.09 per share on the Company's outstanding shares. This dividend is payable December 17, 2012, to shareholders of record on December 3, 2012. For purposes of broker trading, the ex-date of the cash dividend is November 29, 2012. The Company also announced that On September 15, 2012, Old National Bancorp completed its merger with Indiana Community Bancorp of Columbus, Indiana. Based on the average closing price of $13.356 per share of Old National common stock per the merger agreement, the transaction was valued at approximately $88.5 million. The acquisition added $493.5 million of loans (net of an $85.1 million loan mark) and $784.6 million of core deposits to the Old National franchise at September 15, 2012. The acquisition also included the creation of $86.7 million of goodwill. Full Article
Old National Bancorp Completes Acquisition of Indiana Community Bancorp
Old National Bancorp announced that it has completed its merger with Indiana Community Bancorp of Columbus, Indiana, effective September 15, 2012. Also effective on September 15 was the merger of Indiana Bank and Trust Company, Indiana Community Bancorp's banking subsidiary, into Old National Bank, the banking subsidiary of Old National Bancorp. In addition, Old National completed the systems conversion of the Indiana Bank's branches this past weekend. At closing, each share of Indiana Community Bancorp common stock was converted into the right to receive 1.9455 shares of Old National common stock. Any fractional shares will be paid in cash. Former Indiana Community shareholders will receive a letter of transmittal from Old National explaining how to exchange their shares. Old National expects to mail the letters of transmittal to former Indiana Community shareholders by September 21, 2012. Full Article
Old National Bancorp Declares Cash Dividend
Old National Bancorp announced that the Board of Directors declared a common stock dividend of $0.09 per share on the Company's outstanding shares. This dividend is payable September 18, 2012, to shareholders of record on September 4, 2012. For purposes of broker trading, the ex-date of the cash dividend is August 30, 2012. Full Article
Old National Bancorp Declares Common Stock Dividend
Old National Bancorp announced that the Board of Directors also declared a common stock dividend of $.09 per share on the Company's outstanding shares. This dividend is payable June 15, 2012, to shareholders of record on June 1, 2012. For purposes of broker trading, the ex-date of the cash dividend is May 30, 2012. Full Article
Old National Bancorp Increases Cash Dividend 28.6% And Approves Stock Repurchase Plan
Old National Bancorp announced that the Board of Directors declared an increase in its common stock dividend to $0.09 per share on the Company's outstanding shares. This new dividend level represents a 28.6% increase over the previous cash dividend level of $0.07 per common share. The dividend is payable March 15, 2012, to shareholders of record on March 1, 2012. For purposes of broker trading, the ex-date of the cash dividend is February 28, 2012. Old National also announced that its Board of Directors has approved a plan to repurchase, as conditions warrant, up to 2.0 million shares of Old National Bancorp common stock through January 31, 2013. These shares may be purchased from time to time in either the open market or in privately negotiated transactions, in accordance with SEC regulations. Full Article
Old National Bancorp To Acquire Indiana Community Bancorp
Old National Bancorp and Indiana Community Bancorp of Columbus, Ind., jointly announced the execution of a definitive agreement pursuant to which Old National will acquire Indiana Community Bancorp through a merger. Under the terms of the merger agreement, which was approved by the boards of both companies, Indiana Community Bancorp shareholders will receive 1.90 shares of Old National Bancorp common stock for each share of Indiana Community Bancorp common stock held by them. Based upon a $12.00 per share Old National Bancorp common stock price (stock price based on 20 day average from December 21, 2011, to January 20, 2012) the transaction is valued at approximately $79.2 million. The transaction value will likely change before close due to fluctuations in the price of Old National common stock. As provided in the merger agreement, the exchange ratio is subject to certain adjustments (calculated prior to closing) under circumstances where the consolidated shareholders' equity of Indiana Community Bancorp is below a specified amount, the loan delinquencies of Indiana Community Bancorp exceed a specified amount or the credit mark for certain loans of Indiana Community Bancorp falls outside a specified range. The transaction is expected to close in the second quarter of 2012. The merger agreement also provides that Indiana Bank and Trust Company will be merged into Old National Bank simultaneous with the merger of the holding companies. Full Article
Old National Bancorp Completes Sale of Deposits From Former Chicago-Area Integra Branches to First Midwest Bancorp, Inc.'s First Midwest Bank
Old National Bancorp announced that, it has completed the sale of the deposits of four former Integra branches located in the Chicago area to First Midwest Bancorp, Inc.'s First Midwest Bank. This transaction closed December 2, 2011. All loan accounts from these four branches will remain with Old National as a part of its loss-share agreement with the FDIC. In addition, Old National Bank has agreed to sell the Plainfield South facility at 2320 S. Rt. 59, Plainfield, IL to First Midwest Bank at a later date to be determined by the parties. Old National Bank did not acquire the facilities associated with the Bridgeview, Ill. branch, Mokena, Ill branch or the Plainfield North branch from the FDIC in connection with its acquisition of the former Integra Bank branches. Full Article
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