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Marine Credit Union partners with Old National Bank to purchase 10 branches

LA CROSSE, WI (April 23, 2018) — La Crosse, Wisconsin-based Marine Credit Union (“Marine”) announced today that it has entered into a definitive agreement to acquire 10 banking centers throughout Wisconsin from Evansville, Indiana-based Old National Bank, wholly-owned subsidiary of Old National Bancorp (NASDAQ: ONB) (“Old National”). The purchase includes $274 million in deposits. The branches to be acquired are located in Chippewa Falls, Columbus, Dodgeville, Eau Claire, Lancaster, Monroe, New Glarus, Platteville, Prairie du Chien and Stanley. The purchase is expected to close in the third quarter of 2018, subject to regulatory approvals and other customary closing conditions.

“We are pleased to partner with Old National, a bank that shares our values, to continue providing excellent service and competitive products to customers in these communities throughout Wisconsin,” said Shawn Hanson, Marine Credit Union CEO.

Hanson continued: “As a mission-focused credit union, we strive to make life better for those around us: our members, our employees and our communities. This acquisition furthers our growth strategy and aligns with our mission. We look forward to welcoming our new employees and new customers as members of Marine Credit Union.”

“Marine Credit Union is a strong client- and community-focused organization, and we are confident that our transitioning associates will do a great job of continuing to serve the needs of their clients and communities as members of the Marine team,” said Old National Region CEO Len Devaisher.

Customers of the impacted Old National offices will receive additional information regarding the impact of the sale in the near future. Terms of the transaction were not announced.


About Marine Credit Union

Marine Credit Union’s roots trace back to 1931 when the first of more than 25 credit unions now part of its history was chartered. Through the years, the credit union has expanded significantly by way of organic growth and consolidations. Today, Marine is a full-service credit union, serving over 78,800 members with 21 branches across Wisconsin, Iowa, Minnesota, and Illinois, and assets over $1 billion. Marine offers a full range of traditional and non-traditional products and services focused on helping the underserved achieve their financial goals, and more than half of its loans help members with FICO scores in tiers C, D, and E. Marine’s employees are deeply committed to their mission (“advance the lives of people from a place of financial need to a life of ownership and giving back in its communities”), their core values (courage, collaboration, compassion, and commitment) and the communities they serve. Its MCU Foundation has provided grants of over $1 million to its communities and has helped many families purchase their first homes through its innovative Finding HOME program. Marine is a Low-Income Designated Credit Union and earned its Juntos Avanzamos designation in 2017 for its commitment to Hispanic individuals.

To learn more, visit https://www.marinecu.com/ and view member stories at https://www.youtube.com/c/marinecreditunion.

About Old National Bank

Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest financial services holding company headquartered in Indiana. With $17.5 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for seven consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients. Today, Old National’s footprint includes Indiana, Kentucky, Michigan, Wisconsin and Minnesota. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investments and brokerage services. For more information and financial data, please visit Investor Relations at oldnational.com.

Contacts

Meg Puckhaber
608.791.1391
Meg.Puckhaber@MarineCU.com

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