WEBVTT 1 00:00:00.000 --> 00:00:03.636 >>GERRY: HELLO AND WELCOME TO INSIDE INDIANA BUSINESS. I'M GERRY DICK. WE BEGIN THIS WEEK WITH BIG 2 00:00:03.636 --> 00:00:10.043 BANKING NEWS. OLD NATIONAL BANCORP AND FIRST MIDWEST BANCORP ANNOUNCING PLANS TO MERGE IN AN ALL-STOCK VALUED 3 00:00:10.043 --> 00:00:17.217 AT $6.5 BILLION. IT WOULD CREATE THE SIXTH-LARGEST BANK IN THE MIDWEST, WITH $45 BILLION IN 4 00:00:17.217 --> 00:00:26.359 ASSETS. WITH DETAILS ON WHAT THE DEAL MEANS FOR EVANSVILLE AND INDIANA...I'M PLEASED TO WELCOME 5 00:00:26.359 --> 00:00:36.803 OLD NATIONAL CHAIRMAN AND CEO JIM RYAN. THANKS FOR JOINING US I KNOW YOU'RE IN CHICAGO. 6 00:00:36.803 --> 00:00:42.675 THANKS FOR JOINING US AND CONGRATULATIONS ON THE DEAL. >> THANK YOU. ALWAYS GREAT TO BE WITH YOU. 7 00:00:42.675 --> 00:00:51.751 WE APPRECIATE YOUR SUPPORT. >> LET'S TALK ABOUT THIS A BIG DEAL CERTAINLY FOR OLD NATIONAL. IT WOULD CREATE A BANKING 8 00:00:51.751 --> 00:01:01.127 COMPANY WITH COMBINED ASSETS OF $45,000,000,000.6 LARGEST BANK IN THE MID WEST AND WHEN THIS STARTED HOW DID THIS DEAL START 9 00:01:01.127 --> 00:01:09.502 TO COME TOGETHER? >> THE COURTSHIP STARTED BACK IN JANUARY OF THIS YEAR WHERE MIKE WHO IS THE CEO AND CHAIRMAN OF 10 00:01:09.502 --> 00:01:15.809 FIRST MIDWEST CAME FOR A VISIT. WE WERE TALKING ABOUT WHAT WE WERE DOING INDEPENDENTLY AND HOW WE WERE CREATING VALUE FOR ALL 11 00:01:15.809 --> 00:01:21.948 OUR STAKEHOLDERS AND IN THAT CONVERSATION WE REALIZED WE MIGHT BE ABLE TO DO THIS TOGETHER AND BETTER THAN WE 12 00:01:21.948 --> 00:01:29.856 COULD DO IT INDIVIDUALLY, SO WE STARTED CONVERSATIONS ABOUT HOW TO GET BETTER INDIVIDUALLY AND THAT TURNED INTO HOW WE GET 13 00:01:29.856 --> 00:01:37.363 BETTER COLLECTIVELY. >> THIS CREATES A LARGE BANKING INSTITUTION TO CLOSE THE DEAL BY THE END OF THE YEAR PERHAPS 14 00:01:37.363 --> 00:01:48.308 EARLY NEXT YEAR'S SIXTH LARGEST BANK IN THE MID WEST A TOP 30 COMPANY IN THE COUNTRY AND WHAT DOES THAT MEAN WHEN YOU LOOK AT 15 00:01:48.308 --> 00:01:56.816 THE IMPACT OF A LARGER INSTITUTION ON EVANSVILLE AND THE STATE OF INDIANA? >> I TOLD THE GOVERNOR ON 16 00:01:56.816 --> 00:02:03.823 100 PERCENT COMMITTED TO EVANSVILLE AND INDIANA AND THIS MEANS GOOD THINGS AND ULTIMATELY FOR EVANSVILLE AND THE BROADER 17 00:02:03.823 --> 00:02:11.965 STATE AND ALSO ALLOWS US TO SERVE SO MUCH BUSINESS THAT MOVES BACK AND FORTH IN THE MIDWEST AND SERVES A LARGER 18 00:02:11.965 --> 00:02:21.374 CLIENT BASE AND A BIGGER AND BETTER WAY AND INVEST IN MORE TALENT AND TECHNOLOGY TO DELIVER BETTER EXPERIENCES FOR 19 00:02:21.374 --> 00:02:29.282 TECHNOLOGIES AND REINVEST BACK IN OUR COMMUNITIES. >> DEALS LIKE THIS THERE ARE E EFFICIENCIES THAT ARE TO BE HAD 20 00:02:29.282 --> 00:02:36.556 CERTAINLY. AS YOU LOOK AT THE TEA LEAVES AT THIS DEAL THE OLD NATIONAL NAME REMAINS THE OLD NATIONAL BRAND 21 00:02:36.556 --> 00:02:45.498 WILL BE WHAT IS USED AND YOU WILL CONTINUE TO BE CEO OF THE COMBINED BANK AND BE IN EVANSVILLE SO I THINK A LOT OF 22 00:02:45.498 --> 00:02:53.706 THINGS APPLY IN A POSITIVE WAY IN TERMS OF THE IMPACT ON EVANSVILLE AND INDIANA. >> ABSOLUTELY WE'VE GROWN A LOT 23 00:02:53.706 --> 00:03:01.814 IN THE LAST TEN YEARS AND HAVE LEVERAGE THE BEST OF ALL OF OUR PARTNERSHIPS AND THIS IS NO DIFFERENT. 24 00:03:01.814 --> 00:03:10.924 PARTNER AND WE WILL HAVE A LOT OF ASSETS AND CUSTOMERS IN THE CHICAGO METROPOLITAN MARKET. WE WILL LEVERAGE THOSE ACROSS 25 00:03:10.924 --> 00:03:17.363 THE ENTIRE YEAR FRANCHISE AND IT SERVES TO STRENGTHEN OUR COMPANY. THIS YEAR WE TURN 187 YEARS OLD 26 00:03:17.363 --> 00:03:25.572 AND I SEE MY JOB TO MAKE SURE WE ARE AROUND FOR ANOTHER 187 YEARS. >> WHAT DOES IT MEAN FOR THE 27 00:03:25.572 --> 00:03:32.679 BANK BECAUSE YOU ARE ADDING YOUR LARGEST MARKET IN CHICAGO AND THROUGHOUT INDIANA AND MULTIPLE STATES BUT CHICAGO VERY LARGE 28 00:03:32.679 --> 00:03:39.218 MARKET. WHAT DOES THAT BRING TO THE BANK? >> IF YOU LOOK AT THE GDP IT'S 29 00:03:39.218 --> 00:03:46.993 PHENOMENAL FOR THE SIZE OF THIS MARKET CAP THE NUMBERS OF SMALL BUSINESSES THAT ARE HERE TODAY THAT OPEN EACH DAY. 30 00:03:46.993 --> 00:03:54.167 IF YOU LOOK AT THE HOUSEHOLD WEALTH IT'S PHENOMENAL AND THE BEST IN THE MIDWEST AND ONE OF THE STRONGEST MARKETS AND THE 31 00:03:54.167 --> 00:04:01.007 ENTIRE YEAR COUNTRY. FOR US WE HAVE A SIGNIFICANT PRESENCE IN SOME LARGE OPERATIONS IN MINNEAPOLIS AND 32 00:04:01.007 --> 00:04:09.015 MADISON AND MILWAUKEE SO THIS HELPS OUR LEGACY FOOTPRINT OF SERVING INDIANA AND OUR NEWEST MARKETS IN MICHIGAN AND 33 00:04:09.015 --> 00:04:18.625 WISCONSIN AND MINNESOTA. WE ARE SO EXCITED TO FILL IT IN AND FOR US AND FILLS IN A SIGNIFICANT GAP WE HAD IN TERMS 34 00:04:18.625 --> 00:04:25.965 OF OUR FOOTPRINT. >> ANY PARTICULAR SEGMENT OF THE BANK THAT BENEFITS MORE ON THIS? THE COMMERCIAL LENDING SEGMENT 35 00:04:25.965 --> 00:04:32.271 AND ANY PARTICULAR SEGMENT OF BANKING TO BENEFIT FROM THIS COMBINATION? >> ABSOLUTELY. 36 00:04:32.271 --> 00:04:41.080 WE DO A FEW THINGS BETTER THAN WE DO AND ONE THING THEY DO WELL IS THEY HAVE SOME NICHE BUSINESSES WHERE PARTICULARLY ON 37 00:04:41.080 --> 00:04:49.022 THE COMMERCIAL SPACE AND WE WILL BE ABLE TO LEVERAGE THOSE ACROSS THE ENTIRE YEAR FOOTPRINT AND BE BETTER EXPERTS AT SOME OF THOSE 38 00:04:49.022 --> 00:04:56.229 BUSINESSES. WE WILL ALSO HAVE ONE OF THE SEVENTH LARGE WEALTH MANAGEMENT PLATFORMS AND $30 BILLION OF 39 00:04:56.229 --> 00:05:03.302 ASSETS UNDER MANAGEMENT WHEN WE PUT THE COMPANIES TOGETHER SO EXCITED ABOUT DELIVERING A BETTER WEALTH MANAGEMENT 40 00:05:03.302 --> 00:05:10.943 EXPERIENCE FOR ALL CLIENTS. >> 20 SECONDS LEFT, BUT CLOSER TO YOUR HOME AND EVANSVILLE SOUTHWEST INDIANA A LOT OF 41 00:05:10.943 --> 00:05:16.582 MOMENTUM THERE, MASSIVE EXPANSION CONTINUES AT TOYOTA AND VERY GLOBAL AND A LOT OF THINGS HAPPENING CLOSE TO HOME 42 00:05:16.582 --> 00:05:24.023 AND YOU HAVE TO BE HAPPY ABOUT IT. >> IT'S FANTASTIC. IT'S PART OF THE SUCCESS STORY 43 00:05:24.023 --> 00:05:32.065 OF INDIANA AND WHAT I'M REALLY PROUD AS ALL OF OUR LEADERS HAVE COME TO GATHER ON THE PUBLIC AND PRIVATE SIDE TO TURN OUT FOR US 44 00:05:32.065 --> 00:05:39.839 AND HOW DO WE MAKE SOUTHWEST INDIANA A BETTER PART OF OUR STATE AND HOW DO WE MAKE SURE EVERYBODY SHARES EQUALLY IN 45 00:05:39.839 --> 00:05:44.977 THOSE OPPORTUNITIES? >> JIM RYAN THE CEO AND CHAIRMAN A BIG MERGER DEAL.