EVANSVILLE, Ind. – Old National Bancorp and First Midwest Bancorp, Inc., announced Tuesday that they have entered into a definitive merger agreement to combine in an all-stock merger of equals transaction with a total market value of $6.5 billion, creating a premier Midwestern bank with $45 billion in combined assets.
The companies believe the merger will create a top-tier commercial and community bank, lead to a strengthened market position, and allow for innovative digital and technological capabilities while building a strong culture for employees and community engagement.
“First Midwest’s leadership team and colleagues not only mirror the Old National mission, values, and culture, they also offer exceptional consumer and commercial banking services,” said Old National Chairman and CEO Jim Ryan. “We are confident that the powerful synergies, additional market coverage, and financial strength this partnership creates will drive long-term shareholder value.”
