Old National Bank (ONB) is planning to sell off 17 of its banking centres and close or consolidate another 19 locations, as part of ongoing efficiency improvements.
The move will affect the bank’s branches in Indiana, Kentucky, Illinois, Michigan and Ohio.
In Illinois, ONB will sell twelve banking centres in Carmi, Mt. Carmel, Carbondale, Carterville, Desoto, Harrisburg, Lawrenceville, Murphysboro, Mt. Vernon and Marion to First Mid-Illinois Bank & Trust.
These 12 branch locations together manage $502m in deposits and $160m in performing loans.
ONB will also sell its five banking centres in the Indiana cities of Batesville, Brownstown, Portland and Richmond, as well as Union City, Ohio to MainSource Bank.
These five branches comprise $120m in deposits and nearly $30m in loans.
The branch sales are subject to regulatory approval and other conditions.