Old Kent Merges 2 Illinois Units
GRAND RAPIDS, Mich. - Old Kent Financial Corp. said its board has approved a plan to realign Illinois operations by merging Old Kent Bank of Chicago and Old Kent Bank in Elmhurst.
The plan is subject to approval by state and federal regulators.
As part of the realignment, Robert L. Sadler, vice chairman of Old Kent Financial in Michigan, will assume the added position of chairman and chief executive officer of the consolidated Illinois bank.
Michael J. Whalen, currently president of Old Kent in Chicago, will become president and chief operating officer. Charles W. Hocevar, currently president of the Elmhurst bank, will join the holding company's staff as senior vice president in affiliate administration.
Old Kent Financial, based in Grand Rapids, has $8.2 billion in assets, 17 banks with 184 banking offices in Michigan, and two banks with 14 offices in Illinois.