Old National Bancorp
Old National is a financial holding company incorporated in the state of Indiana
and maintains its principal executive office in Evansville, Indiana. We, through
our wholly owned banking subsidiary, provide a wide range of services, including
commercial and consumer loan and depository services, private banking, brokerage,
trust, investment advisory, and other traditional banking services. Through
our non-bank affiliates, we provide full service insurance brokerage services
and other financial services.
Old National Bank, our wholly owned banking subsidiary (“Old National
Bank”), was founded in 1834 and is the oldest company in Evansville, Indiana.
In 1982, Old National Bancorp was formed; in 2001 we became a financial holding
company and we are currently the largest financial holding company headquartered
in the state of Indiana. Also in 2001, we completed the consolidation of 21
bank charters enabling us to operate under a common name with consistent product
offerings throughout the financial center locations, consolidating back-office
operations and allowing us to provide more convenient service to clients. We
provide financial services primarily in Indiana, Kentucky, and Michigan.
We earn interest income on loans as well as fee income from the origination
of loans. Lending activities include loans to individuals, which primarily consist
of home equity lines of credit, residential real estate loans and consumer loans,
and loans to commercial clients, which include commercial loans, commercial
real estate loans, letters of credit, and lease financing. Residential real
estate loans are either kept in our loan portfolio or sold to secondary investors,
with gains or losses from the sales being recognized.
We operate in two segments: banking and insurance. Substantially all of our
revenues are, and during the last three fiscal years have been, derived from
customers located in, and substantially all of our assets are located in, the
United States.
We strive to serve individuals and commercial clients by providing depository
services that fit their needs at competitive rates. We pay interest on the interest-bearing
deposits and receive service fee revenue on various accounts. Deposit accounts
include products such as noninterest-bearing demand, negotiable order of withdrawal
(“NOW”), savings and money market, and time deposits. Debit and
ATM cards provide clients with access to their accounts 24 hours a day at any
ATM location. We also provide 24-hour telephone access and online banking as
well as other electronic and mobile banking services.