Old National Bancorp and First Midwest Bancorp completed their all-stock merger of equals, which was first reported in June of 2021. The combined company will have more than $46 billion of combined assets and $34 billion of assets under management.
The Federal Reserve approved the merger of equals transaction between Old National Bancorp and First Midwest Bancorp, following the approval the companies received last year from the Office of the Comptroller of the Currency and stockholders of both companies.
Old National Bancorp and First Midwest Bancorp 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 to create a bank with $45 billion in combined assets.
Crestmark appointed Charles D. Starck as vice president and business development officer of the commercial business credit group. Starck has more than 15 years of commercial finance experience, most recently serving as managing director of commercial banking for Hiawatha National Bank.
Veteran commercial banking executive David Wilsdorf has joined Old National Bank as St. Louis Region market president.
Former Indianapolis Power and Light president and CEO Rafael Sanchez will join Evansville-based Old National Bank as President of Private Banking.
United Leasing & Finance closed a $350 million, multi-year senior secured revolving credit facility with an accordion expansion to $475 million with Bank of America as agent.
Old National Bank promoted Todd Clark, formerly Michigan region CEO, to chief information and strategic innovation officer. Alex Strati was promoted to Michigan region CEO.
Contrail Aviation Support, entered into a $15 million business loan agreement with Old National Bank, replacing its prior facility with BMO Harris Bank.