Old National Bancorp in Evansville, Ind., has agreed to buy its headquarters building and two other branches from a landlord.
The $14.4 billion-asset company disclosed in a regulatory filing that it will pay $90.5 million for its corporate office and $7.9 million for branches in Boonville, Ind., and Henderson, Ky. The move will terminate leases signed nearly a decade earlier.
Old National said it agreed to the deal so it could have greater control, report the properties as assets on its balance sheet and to "further its initiative of becoming a more efficient bank."
The company said it expects to close the purchases by the end of September.