Old National Bancorp (NYSE:ONB) is to acquire Integra Wealth Management and Trust, a division of Integra Bank, National Association. As a result of a Servicing Agreement between the two companies, Old National Wealth Management advisors will immediately begin servicing Integra Wealth Management and Trust clients, giving them full access to Old National’s investment and trust experts.
This acquisition – subject to regulatory approval and satisfaction of closing conditions – brings the total assets under management by Old National’s Wealth Management division to USD4.4 billion. The transaction is anticipated to close by June 30, 2011.
"Old National and Integra are long-time community partners and neighbours with similar service areas and a shared commitment to serving our clients and communities," says Old National President & CEO Bob Jones (pictured). "We are fully committed to our new clients and are excited to showcase our unwavering commitment to customer care."
Carrie Ellspermann, President and CEO of Old National Wealth Management, says: "Our Old National team of experts is poised to immediately assist clients in preserving, building and sharing their wealth. "We believe they will benefit from an enhanced menu of products and services backed by an institution recently recognised for strength and stability by Forbes Magazine."