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Wednesday, September 23 2009

Old National Bancorp (NYSE: ONB) in Evansville has launched a $150 million public stock offering. The company plans to use the proceeds to support ongoing and anticipated growth, which could include acquisitions of other financial institutions, possibly involving assets of failed banks. The underwriters have an option to purchase up to an additional 15 percent of the shares.

Old National Bancorp (NYSE:ONB), the holding company for Old National Bank, today announced it has commenced an underwritten public offering of $150 million of its common stock, subject to adjustment.

The Company intends to use the net proceeds from the offering for general corporate purposes and to support ongoing and future anticipated growth, which may include opportunistic acquisitions of other financial institutions, possibly including acquisitions of assets and liabilities of failed or distressed financial institutions in FDIC-sponsored or assisted transactions.

Sandler O'Neill & Partners, L.P. is the sole book-running manager.
Keefe, Bruyette & Woods, Inc. and SunTrust Robinson Humphrey, Inc. are co-managers.

The Company intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares offered to cover over-allotments, if any. The shares will be issued pursuant to a prospectus supplement to the prospectus filed as a part of the Company's effective shelf-registration statement on Form S-3 (File No.
333-151499).


About Old National Bancorp

Old National Bancorp, with $8.0 billion in assets, is a financial holding company headquartered in Indiana. Old National Bank, its banking subsidiary, is focused on community banking in its primary footprint in Indiana, eastern and southeastern Illinois, and central and western Kentucky. Old National Bancorp also owns financial services companies that provide services to supplement its banking business, including fiduciary and wealth management services, insurance and other financial services.

Source: Old National Bancorp http://www.insideindianabusiness.com/newsitem.asp?ID=37789

Posted by: Rolando Trentini AT 07:00 am   |  Permalink   |  0 Comments  |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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