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Old National Completes Wealth Management Acquisition
Harriet Davies
2 June 2011
New York-listed Old National Bancorp has completed its purchase of Integra Wealth Management and Trust, a division of Integra Bank, National Association. In connection with the deal, the banking group’s subsidiary Old National Trust Company paid Integra net merger consideration of approximately $1.3 million. Following a definitive agreement signed on 11 April 2011, the Integra unit was bought by and merged into Old National Trust Company, a wholly-owned subsidiary of Old National Bancorp. Clients of Integra WM, based in Indiana, Kentucky and Illinois, are now clients of Old National Wealth Management, and the transition means Integra is now out of this line of business. Old National Bancorp is headquartered in Indiana and has $8.1 billion in assets.