M&A Deal Summary

Old National Bank Acquires First Midwest Bank

On June 1, 2021, Old National Bank acquired financial services company First Midwest Bank

Acquisition Highlights
  • This is Old National Bank’s 17th transaction in the Financial Services sector.
  • This is Old National Bank’s 20th transaction in the United States.
  • This is Old National Bank’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2021-06-01
Target First Midwest Bank
Sector Financial Services
Buyer(s) Old National Bank
Deal Type Merger
Advisor(s) J.P. Morgan Securities (Financial)
Sullivan & Cromwell (Legal)

Target

First Midwest Bank

Chicago, Illinois, United States
website
First Midwest Bank is a provides a full range of both business and retail banking and trust and investment management services through some 100 offices located in 64 communities primarily in metropolitan Chicago. First Midwest Bank was founded in 1982 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Old National Bank

Evansville, Indiana, United States

website

Category Company
Founded 1834
Sector Financial Services
Employees2,445
Revenue 1.7B USD (2022)
DESCRIPTION

Old National Bank is a financial services holding company. Old National Bank was founded in 1834 and is based in Evansville, Indiana.

DEAL STATS #
Overall 20 of 20
Sector (Financial Services) 17 of 17
Type (Merger) 2 of 2
State (Illinois) 2 of 2
Country (United States) 20 of 20
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Anchor BanCorp Wisconsin

Madison, Wisconsin, United States

Anchor BanCorp Wisconsin, Inc. is a depository institution with over 50 branches across the state of Wisconsin.

Buy $443M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Old National Bancorp. - HSA Business

Evansville, Indiana, United States

Old National Bancorp. - HSA Business (health savings account) provides health savings account solutions for healthcare spending account cards.

Sell -
Mergr

Product

Company

Legal