Southern Indiana Business Report
EVANSVILLE – Old National Bancorp (“Old National”) announced Monday the closing of its previously announced merger with Nashville-based CapStar Financial Holdings Inc. (“CapStar”), the holding company for CapStar Bank, as of April 1.
“This partnership is an incredible cultural fit and a natural extension of our growth strategy that allows us to introduce our client- and community-centered approach to banking to several strong, vibrant Southeastern communities,” said Old National Chairman and CEO Jim Ryan. “We are excited to have reached this important milestone and to officially welcome CapStar clients and team members to the Old National family.”
After closing of the merger, Old National has approximately $52 billion of assets and $29 billion of assets under management (on a pro forma basis using Dec. 31, 2023 data), making it among the top 30 banking companies headquartered in the U.S.
CapStar Bank will operate as a division of Old National Bank prior to the banking centers and systems conversions, which is anticipated to occur in the third quarter of 2024.