EVANSVILLE, Ind. - Old National Bancorp said it signed a letter of intent to acquire DCB Corp., the holding company of Dubois County Bank, in a stock transaction valued at about $57 million. The Jasper, Ind., bank has $290 million in assets and I 0 offices.
The plan calls for DCB shareholders to receive a tax-free exchange of 6.1 Old National shares for each common share o DCB stock. Old National said it expects to complete the transaction by mid-1993.
Dubois County Bank and three other pending mergers would bring Old National to $3.5 billion in assets, more than any other bank holding company with headquarters in Indiana.