OLD NATIONAL BANCORP (NASDAQ:ONB) Files An 8-K Results of Operations and Financial ConditionItem 2.02
On April23, 2018, Old National Bancorp (the “Company”) issued a press release (“Press Release”) reporting its financial results for the first quarter of 2018. The Press Release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. In connection therewith, a slide presentation outlining first-quarter earnings, strategic developments, and the Company’s financial outlook will be available on the “Investor Relations” section of the Company’s website to complement the conference call to be held on April23, 2018, at 7:00 a.m. CDT and will be accessible at http://www.oldnational.com before the conference call begins.
On April23, 2018, the Company’s wholly-owned bank subsidiary, Old National Bank (“ONB”) announced plans to sell or consolidate twenty (20)banking centers as part of its ongoing efficiency improvements. In connection with the efficiency improvements, ONB entered into a branch purchase and assumption agreement for the sale of ten (10)banking center facilities in Wisconsin and their associated deposits to Marine Credit Union. The branch sales are subject to regulatory approval and other terms and conditions and include approximately $274million in deposits. ONB expects the transaction with Marine Credit Union to close in the third quarter of 2018. Nine (9)consolidations are expected to occur in the second quarter of 2018 and one (1)consolidation is expected to occur in the third quarter of 2018.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements regarding future events and developments concerning Old National. You can find many of these statements by looking for words such as “expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,” “strategy,” “plan,” “potential,” “possible” and other similar expressions. Statements about the expected timing, completion and all other statements in this Current Report other than historical facts constitute forward-looking statements.
Forward-looking statements involve certain risks and uncertainties. The ability of the Company to predict results or actual effects of its plans and strategies is inherently uncertain. Accordingly, actual results may differ materially from those expressed in, or implied by, the forward-looking statements, including expected timing of the transactions. Because these forward-looking statements are subject to assumptions and uncertainties, the developments and future events concerning the Company set forth in this Current Report may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this Current Report.
All written and oral forward-looking statements concerning the transactions or other matters addressed in this Current Report and attributable to the Company or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this Current Report or to reflect the occurrence of unanticipated events, unless obligated to do so under the federal securities laws.
| Item 2.02 | Financial Statements and Exhibits. |
(d) Exhibits.
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OLD NATIONAL BANCORP /IN/ ExhibitEX-99.1 2 d493023dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Old National Bancorp One Main Street Evansville,…To view the full exhibit click here
About OLD NATIONAL BANCORP (NASDAQ:ONB)
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services. The Company operates in two segments: banking and insurance. The Company’s banking segment operates through its subsidiary, Old National Bank. Old National Bank operates approximately 160 banking financial centers located in Indiana, Kentucky and Michigan. The Company’s insurance segment offers full-service insurance brokerage services, including commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance.