Old National Bancorp to acquire Bremer Financial for $26.22 cash plus 4.182 ONB shares per Bremer share

OLD NATIONAL BANCORP /IN/

Consideration per Bremer common share: $26.22 cash plus 4.182 shares of Old National common stock.
Otto Bremer Trust, holding ~86% of Bremer shares, agreed to vote in favor under Trustee Voting Agreement.
Old National entered forward sale agreement for 19,047,619 shares at $20.16 per share to help fund cash portion.
Upon closing, Old National board will increase by one, appointing a trustee from Otto Bremer Trust.
Transaction subject to Bremer shareholder approval, regulatory consents (OCC, Fed), and customary conditions.

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