Old National Bancorp in Evansville, Ind., announced Friday that it is shuttering nine of the 52 branches it inherited when it took over the failed Integra Bank and will move the accounts to nearby offices.
Five of the nine branches are in Evansville, where Integra was also headquartered, three are in Kentucky and one is in Illinois. The $8 billion-asset Old National said in a news release that the branches would close on Sept. 30 and consolidated into other former Integra offices.
Bob Jones, Old National's president and chief executive officer, said that all affected employees would be offered "comparable" positions at other branches.
A transition team is also reviewing the entire branch network to determine if other branches would be closed, but Old National said that no action would be taken until after a planned systems conversion is completed in December.
Old National took over Integra on July 29, assuming roughly $1.5 billion of deposits and $1.2 billion of loans in the deal. The company now has 220 branches in Indiana, Illinois and Kentucky.
