Old National Announces Completion of Merger with CapStar
2024年4月1日 - 7:55PM
(NASDAQ: ONB) – Old National Bancorp (“Old
National”) today announced the closing of its previously-announced
merger with Nashville-based CapStar Financial Holdings, Inc.
(“CapStar”), the holding company for CapStar Bank, as of April 1.
“This partnership is an incredible cultural fit and a natural
extension of our growth strategy that allows us to introduce our
client- and community-centered approach to banking to several
strong, vibrant Southeastern communities,” said Old National
Chairman and CEO Jim Ryan. “We are excited to have reached this
important milestone and to officially welcome CapStar clients and
team members to the Old National family.”
After closing of the merger, Old National has approximately $52
billion of assets and $29 billion of assets under management (on a
pro forma basis using December 31, 2023 data), making it among the
top 30 banking companies headquartered in the U.S.
CapStar Bank will operate as a division of Old National Bank
prior to the banking centers and systems conversions, which is
anticipated to occur in the 3rd quarter of 2024.
ABOUT OLD NATIONALOld National Bancorp is the holding company of
Old National Bank, which is the sixth largest commercial bank
headquartered in the Midwest. Tracing our roots to 1834, Old
National Bank has focused on community banking by building
long-term, highly valued partnerships with clients and in the
communities it serves. In addition to providing extensive services
in retail and commercial banking, Old National offers comprehensive
wealth management, investment, and capital market services. For
more information and financial data, please visit Investor
Relations at oldnational.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSThis press
release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. In general,
forward-looking statements usually may be identified through use of
words such as “may,” “believe,” “expect,” “anticipate,” “intend,”
“will,” “should,” “plan,” “estimate,” “predict,” “continue” and
“potential” or the negative of these terms or other comparable
terminology, and include statements related to expected returns and
other benefits of the merger to shareholders, expected improvement
in operating efficiency resulting from the merger, estimated
expense reductions resulting from the merger and the timing of
achievement of such reductions. Forward-looking statements are not
historical facts and represent management’s beliefs, based upon
information available at the time the statements are made, with
regard to the matters addressed; they are not guarantees of future
performance. Actual results may prove to be materially different
from the results expressed or implied by the forward-looking
statements. Forward-looking statements are subject to numerous
assumptions, risks and uncertainties that change over time and
could cause actual results or financial condition to differ
materially from those expressed in or implied by such
statements.
Factors that could cause or contribute to such differences
include, but are not limited to (1) the risk that the cost savings
and any revenue synergies from the merger may not be realized or
take longer than anticipated to be realized, (2) disruption from
the merger of customer, supplier, employee or other business
partner relationships, (3) reputational risk and the reaction of
each of the companies’ customers, suppliers, employees or other
business partners to the merger, (4) risks relating to the
integration of CapStar’s operations into the operations of Old
National, including the risk that such integration will be
materially delayed or will be more costly or difficult than
expected, (5) risks associated with Old National’s pursuit of
future acquisitions, (6) the risks associated with expansion into
new geographic or product markets, and (7) general competitive,
economic, political and market conditions. Further information
regarding additional factors which could affect the forward-looking
statements can be found in the cautionary language included under
the headings “Cautionary Note Regarding Forward-Looking Statements”
and “Risk Factors” in Old National’s Annual Report on Form 10-K for
the year ended December 31, 2023, and other documents subsequently
filed by Old National with the U.S. Securities and Exchange
Commission.
Many of these factors are beyond Old National’s ability to
control or predict. If one or more events related to these or other
risks or uncertainties materialize, or if the underlying
assumptions prove to be incorrect, actual results may differ
materially from the forward-looking statements. Accordingly,
shareholders and investors should not place undue reliance on any
such forward-looking statements. Any forward-looking statement
speaks only as of the date of this communication, and Old National
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. New risks and
uncertainties may emerge from time to time, and it is not possible
for Old National to predict their occurrence or how they will
affect Old National.
Investor Relations:Lynell Durchholz(812)
464-1366lynell.durchholz@oldnational.com
Media Relations:Rick Vach(904)
535-9489rick.vach@oldnational.com
Old National Bancorp (NASDAQ:ONB)
過去 株価チャート
から 11 2024 まで 12 2024
Old National Bancorp (NASDAQ:ONB)
過去 株価チャート
から 12 2023 まで 12 2024