Old National to sell, consolidate 27 bank branches

Associated Press
Updated 8/16/2012 1:34 PM

EVANSVILLE, Ind. -- Old National Bancorp said Thursday that it will sell or consolidate 27 bank branches in Indiana, Kentucky and Illinois as part of a push to become more efficient.

The Evansville, Ind., company said it will sell the deposits of nine branches in western Kentucky and southern Illinois and consolidate 18 banking centers into existing locations, mainly in Indianapolis and central Indiana. The company said half of the consolidations involve Indianapolis in-store branches with leases about to expire.

Old National said it will offer employees at the consolidated locations positions at nearby branches, and it doesn't anticipate job cuts.

The bank currently has 183 locations.

Shares of Old National fell 3 cents to $12.70 in morning trading.

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