Old National Bancorp announced Monday it had closed on its acquisition of Tower Financial Corp., and also reported first-quarter net earnings of $26.5 million, up 10.7 percent from first-quarter 2013. Earnings per share of 26 cents for the Evansville-based bank company were up 8.3 percent from 24 cents a year ago. These strong first-quarter results included consumer loan growth across our footprint, overall loan growth in our newest markets in Bloomington (Indiana) and southwestern Michigan, and continued growth in our Wealth Management, Investments and Insurance divisions, said Old National President and CEO Bob Jones in the earnings release. As we continue to transform the Old National franchise by expanding into vibrant, growing markets — as evidenced by our Tower Bank & Trust partnership and our pending partnership with Ann Arbor (Mich.)-based United Bancorp — we remain committed to our basic community banking mission in every community we serve. All Tower banking centers were converted to Old National banking centers over the weekend. Old Nationals board of directors also declared a quarterly cash dividend of 11 cents per share, payable June 16 to shareholders of record June 2.
Posted on: Mon, 28 Apr 2014 16:50:25 +0000
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