Market Overview

Old National Bank Agrees to Sell Deposits From Former Chicago-Area Integra Branches to First Midwest Bank; Terms Not DIsclosed

Old National Bank, which acquired all 52 branches of the former Integra Bank on July 29, 2011, in an FDIC-assisted transaction, has announced the signing of an agreement to sell the deposits of four former Integra branches located in the Chicago area to First Midwest Bank. This transaction is expected to close around Dec. 3, 2011, subject to receipt of regulatory approval and satisfaction of customary closing conditions.

The deposits involved in the sale are at the following locations:

Bridgeview, Ill. branch – 7661 S. Harlem Ave., Bridgeview, Ill.

Mokena, Ill. branch – 19102 S. 88th Avenue, Mokena, Ill.

Plainfield North branch – 12251 S. Rt. 59, Plainfield, Ill.

Plainfield South branch – 2320 S. Rt. 59, Plainfield, Ill.

In addition, subject to certain conditions, First Midwest Bank has agreed to purchase the Plainfield South facility at 2320 S. Rt. 59, Plainfield, Ill., as part of this transaction. All loan accounts from these four branches will remain with Old National as a part of its loss-share agreement with the FDIC. Financial terms of the transaction have not been disclosed.

Posted-In: News Asset Sales

 

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