Evansville-based Old National buys Indiana branches of Charter One

Indianapolis Business Journal

Tuesday, November 25, 2008 4:33 AM

The IBJ

Evansville-based Old National Bancorp has signed an agreement to buy the 65 Indiana branch offices of Charter One, according to a filing with the Securities and Exchange Commission.

Charter One is owned by Citizens Financial Group of Providence, R.I.; Citizens is owned by Royal Bank of Scotland Group Plc.

The deal includes $397 million of deposits and $15.9 million in loans.

Charter One has five locations in the Indianapolis area.

The purchase price will be determined when the deal closes.

Evansville's Old National calls purchase of Charter One a bargain

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Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR