Old National Bank completes conversion of AnchorBank branches

Posted: Sep 12, 2016
  • All 46 Wisconsin offices converted to Old National facilities this past weekend (Sept. 9th-11th)
  • Conversion included signage and systems
  • Banking centers opened today as Old National Bank, with existing staff in place

Madison, Wisc. (Sept. 12, 2016) – This past weekend (Friday evening through Sunday), all 46 AnchorBank offices were converted to Old National Bank facilities. The conversion included both banking systems and signage, with all offices re-opening today with existing staff in place. Twenty-one of the banking centers are in Madison, with additional branches concentrated in Milwaukee and Fox Valley.

This completes Old National Bancorp’s acquisition of Anchor BanCorp, which was announced in January of this year. Founded in Evansville, Ind., in 1834, with $14.4 billion in total assets and 201 banking centers, Old National Bancorp is the parent company of Old National Bank. This partnership positions Old National as the seventh largest deposit holder in Wisconsin and the fifth largest in the Madison MSA, offering an expanded suite of products and services to former clients of AnchorBank.

“From the first days of our partnership, we were confident that Old National’s values and client- and community-focused approach to banking would be a tremendous fit for the great state of Wisconsin,” said Len Devaisher, Old National’s Wisconsin Region CEO. “We are incredibly excited to officially welcome clients today as Old National Bank, and we look forward to earning their continued trust and loyalty while also introducing Old National to others within the communities we serve.”

As part of the conversion, Old National Bank donated 200 computers to the Digital Divide Project, a pilot started by the City of Madison to improve access to computers and network/internet services to all citizens, with special attention to low-income families. This is part of Old National’s overarching commitment to community that saw the company donate more than 1,400 units of electronic equipment in 2015, for an in-kind dollar value over $190,000, along with more than $5 million in total grants and sponsorships dispersed throughout its footprint.

“The Digital Divide Project and its three-pronged approach of providing educational services, equipment access and Internet access is something we are extremely proud and excited to support,” said Devaisher. “As a community bank, we recognize the tremendous value of strengthening the communities we serve.”