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Stock Market & Financial Investment News

News Breaks
January 9, 2013
09:12 EDTBAC, ONBOld National Bancorp acquires branches in Northern Indiana and SW Michigan from Bank of America
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 (BAC). 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 $778.8M and $7.7M, respectively, as of August 2012. This transaction is subject to regulatory approval from the Office of the Comptroller of the Currency and the satisfaction of customary closing conditions. Clients of the banking centers included in this transaction will not experience any changes to their accounts or banking routines at this time.
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