If there were any questions about the future following the $6.5 billion merger announcement between Evansville’s Old National Bancorp (Nasdaq: ONB) and Chicago-based First Midwest Bancorp Inc. (Nasdaq: FMBI), Old National Chief Executive Officer Jim Ryan said he made things very clear in a phone conversation with Governor Eric Holcomb.
“I told the governor that I am 100% committed to Evansville and 100% committed to the state of Indiana,” said Ryan, who believes the deal will open new opportunities in Indiana. “This only means good things ultimately for Evansville and the broader state. It allows us to invest in more talent and more technology.”
Ryan talked about the potential impact of the merger and how the deal came together on this weekend’s edition of Inside INdiana Business with Gerry Dick.
Ryan says conversations about a potential combination, creating the 6th largest bank in the Midwest with $45 billion in assets, began in January.
The new banking company will operate under the Old National nameplate, with dual headquarters in Evansville and Chicago and Ryan will retain his role as CEO.