Serving the Goreville & Lake of Egypt areas since 1977

 

Old National Bank in Vienna to become Legence Bank

Posted August 16, 2012 by Goreville Gazette in News
Old National Bank

The Vienna Times reported this morning that Old National Bank in downtown Vienna is undergoing a sale pending regulatory approval and the satisfaction of customary closing conditions. ~ photo provided

The Vienna Times reported early Thursday morning that the Vienna branch office of Old National Bank may soon become the sixth branch office of Legence Bank, pending regulatory approval and the satisfaction of customary closing conditions.

Legence Bank, a wholly-owned subsidiary of the holding company First Eldorado Bancshares, Inc. in Eldorado  signed an agreement on Tuesday, August 14 to purchase the deposits and facilities of two Southern Illinois bank branches from Old National. The second location is at Shawneetown

The acquisition and conversion are expected to be complete in early 2013.

Pending approval, the transaction will be the second time the banking center has changed ownership since July 2011, when Integra Bank failed.

Legence currently has five branch banking centers. Most branches are in Saline and Gallatin Counties, with one located in Evansville, Indiana.

The Vienna Times reported receiving a news release dated August 16 from Old National Bancorp early Thursday morning indicating the financial institution plans to sell a total of nine banking centers and consolidate eighteen others. Half of the consolidations are Indianapolis in-store branches with approaching expiring leases.

“We are pleased to partner with Legence Bank on this transaction,” said Bob Jones, Old National Bank President and CEO.  “Legence has a strong commitment to its community and to customer service, which will help to ensure a smooth transition.”

Old National Bank customers of the Vienna and Shawneetown branches are to continue making their loan payments as usual.  Customers may continue to access their accounts through Old National branches, online, ATMs, checks and debit cards until the Shawneetown and Vienna branches convert in early 2013.