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M&A Deal Summary

Old National Bank Acquires Citizens Financial Group - 65 Branches

On March 20, 2009, Old National Bank acquired financial services company Citizens Financial Group - 65 Branches from Citizens Financial Group

Acquisition Highlights
  • This is Old National Bank’s 7th transaction in the Financial Services sector.
  • This is Old National Bank’s 10th transaction in the United States.
  • This is Old National Bank’s 5th transaction in Indiana.

M&A Deal Summary
Date 2009-03-20
Target Citizens Financial Group - 65 Branches
Sector Financial Services
Buyer(s) Old National Bank
Sellers(s) Citizens Financial Group
Deal Type Divestiture

Target

Citizens Financial Group - 65 Branches

Indiana, United States
Citizens Financial Group - 65 Branches in Indiana provides banking services.

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Buyer(S) 1

Buyer

Old National Bank

Evansville, Indiana, United States
Category Company
Founded 1834
Sector Financial Services
Employees4,028
Revenue 1.9B USD (2024)
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 10 of 20
Sector: Financial Services M&A 7 of 17
Type: Divestiture M&A Deals 1 of 3
State: Indiana M&A 5 of 10
Country: United States M&A 10 of 20
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 St. Joseph Capital

Mishawaka, Indiana, United States

St. Joseph Capital Corp. is a provider of financial services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-06 Monroe Bancorp.

Bloomington, Indiana, United States

Monroe Bancorp. is a provider of financial, trust and investment services through its locations in central and south central Indiana.

Buy $90M

Seller(S) 1

SELLER

Citizens Financial Group

Providence, Rhode Island, United States
Category Company
Founded 1828
Sector Financial Services
Employees17,800
DESCRIPTION

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide banking products and services.

DEAL STATS #
Overall 4 of 7
Sector: Financial Services M&A 3 of 6
Type: Divestiture M&A Deals 4 of 7
State: Indiana M&A 1 of 1
Country: United States M&A 4 of 7
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-07 Citizens Bank - 18 Branches

New York, United States

Citizens branches in Plattsburgh and one each in Champlain, AuSable Forks, Malone, Fort Covington, Tupper Lake, Saranac Lake, Lake Placid, Newcomb, Ticonderoga, Lyons Falls, Long Lake, Indian Lake, North Creek and Whitehall.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-28 Citizens Financial - 56 Branches

United States

Fifty-two of the branches are situated in Stop & Shop supermarkets and four are traditional branches.

Sell -
Mergr

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