OLD NATIONAL BANCORP /IN/ (ONB): M&A transaction — Old National closes Bremer merger, adds board director, assumes $61.9M debt

OLD NATIONAL BANCORP /IN/

Each Bremer share converted to 4.182 ONB shares + $26.22 cash; merger closed May 1, 2025.
Combined pro forma assets ~$70B, AUM ~$37B, making ONB a top-25 U.S. bank.
Old National assumed ~$61.9M in junior subordinated debt from Bremer.
Daniel Reardon (Otto Bremer Trust co-CEO) appointed to ONB board; board expanded to 16.
Community Growth Plan increased to $11.1B (from $9.5B), adding $1.6B in commitments.

item 2.01 item 2.03 item 5.02 item 5.03 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Daniel C. Reardon

Director

ONB · OLD NATIONAL BANCORP /IN/

Effective: 2025-05-01
Filed: May 1, 2025, 7:59 PM ET

Daniel C. Reardon, was appointed by the Board to fill the vacancy resulting from the increase in the size of the Board.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

OLD NATIONAL BANCORP /IN/ incurred debt of approximately $61.9 million in aggregate principal maturing June 1, 2036.

Principal: approximately $61.9 million in aggregate principal
Maturity: June 1, 2036
Event: incurrence

Exact text from the filing

on May 1, 2025, Old National assumed Bremer’s obligations with respect to approximately $61.9 million in aggregate principal amount of junior subordinated debt securities due June 1, 2036 (the “Notes”) issued by Bremer on June 1, 2006.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Daniel C. Reardon was appointed as Director at OLD NATIONAL BANCORP /IN/.

Action: appointed
Role: Director

Exact text from the filing

Daniel C. Reardon, was appointed by the Board to fill the vacancy resulting from the increase in the size of the Board.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

OLD NATIONAL BANCORP /IN/: Amended and Restated By-Laws to increase Board size from 15 to 16 directors (effective 2025-05-01).

Change: bylaw amendment
Effective: 2025-05-01

Exact text from the filing

Effective May 1, 2025, the Amended and Restated By-Laws of Old National, dated February 21, 2024 (the “Amended and Restated By-Laws”), were amended to increase the size of the Board from 15 to 16 directors (the “By-Laws Amendment”)

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

OLD NATIONAL BANCORP /IN/ completed an acquisition involving Bremer Financial Corporation for 4.182 shares of Old National Common Stock and $26.22 in cash per Bremer share (closed 2025-05-01).

Action: acquisition
Counterparty: Bremer Financial Corporation
Consideration: 4.182 shares of Old National Common Stock and $26.22 in cash per Bremer share
Closing: 2025-05-01

Exact text from the filing

☐ Introductory Note This Current Report on Form 8-K is being filed in connection with the closing on May 1, 2025 of the merger of Bremer Financial Corporation (“Bremer”), a Minnesota corporation, with and into Old National Bancorp (“Old National”), an Indiana corporation (the “Merger”), with Old National as the surviving corporation in the Merger, pursuant to the Agreement and Plan of Merger, dated as of November 25, 2024 (the “Merger Agreement”), by and among Old National, Bremer and ONB Merger Sub, Inc., an Indiana corporation and wholly owned subsidiary of Old National.

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10 debt financings filed in the last 30 days. Browse all debt financings →

OLD NATIONAL BANCORP /IN/ filing history →

Source: SEC EDGAR

accession 0001628280-25-021536

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