Old National Bancorp in Evansville, Ind., has agreed to buy Mutual Underwriters Insurance in Louisville, Ky.

The $11.2 billion-asset company said in a press release Monday that its Old National Insurance should close on the deal on Feb. 1. The price was not disclosed.

Courtney Ball and Frank Rassiga, Mutual Underwriters' owners, will join Old National's sales team. The agency focuses primarily on commercial and personal property/casualty accounts.

"We are thrilled to welcome Mutual Underwriters and its clients... and we look forward to continuing to deliver the same exceptional service that Mutual Underwriters clients have come to expect," Scott Evernham, Old National Insurance's president, said in the release.

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