Old National Bancorp announced this week the closing of its previously announced merger with Nashville-based CapStar Financial Holdings, Inc., 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.”
“I am excited to be a part of Capstar Bank, a division of Old National Bank, and look forward to what the coming months hold as we begin the official partnership of two first class banks,” said Mike Smith, CapStar Waynesboro Branch Manager. “All of our offices in Wayne and Lawrence County will be staffed with the familiar faces you have come to know and trust for all your banking needs. We look forward to offering the same friendly customer service and quality products that our community deserves.”
After closing of the merger, Old National has approximately $52 billion of assets and $29 billion of assets under management, 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 3rd quarter of 2024.
