The president of Evansville-based Old National Bank says the company will decide over the next few months which positions will be eliminated following its acquisition of the failed Integra Bank last week.
Old National and the FDIC will share losses on $1.2 billion of Integra’s loans and other assets.
Old National Bank President Bob Jones says an undetermined number of Integra jobs, most of them management positions, will be cut and some branches will be consolidated.
“Over time there is duplication of service. There will be elimination of some branches as well as some people. We have committed to the folks at Integra that they will be the first to know as we make those decisions over the next few months,” he said.
He says all of Integra’s 52 branches in southern Indiana, western Kentucky and Illinois are now operating under the Old National brand.
“(There have been) no disruptions, no real changes for the customers. The best news for them is their deposits are strong and stable, and they can continue to do all the business they were doing last week, just under the name of Old National.”
Jones met with about 350 Integra employees Sunday to talk about the takeover.
Old National was already operating some 170 branches in the region, including more than a dozen in Louisville.
(Information for this story also came from the Associated Press)