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      For Your Business February 11, 2026

      Old National Bank Community Equity: Investing in Affordable Housing with CommonBond Communities

      The Old National Bank (ONB) Community Equity team was established in 2015 and plays a critical role in community development and sustainability projects throughout Old National’s 10-state footprint.

      Old National is a leader in making equity investments in the underlying projects that rehabilitate historic buildings, provide affordable housing, invest in low-income communities, and generate alternative energy. ONB Community Equity provides tax credit financing expertise for:

      • Historic Tax Credits
      • Low Income Housing Tax Credits
      • New Markets Tax Credits
      • State Tax Credit

      Project Spotlight: CommonBond Communities in the Upper Midwest

      Founded in 1971, CommonBond Communities is a nonprofit affordable housing provider dedicated to building stable homes, strong futures, and vibrant communities throughout the Upper Midwest. Serving communities across Minnesota, Wisconsin, Iowa, and South Dakota, CommonBond combines high-quality affordable housing with services designed to support resident independence and advancement.

      Old National’s relationship with CommonBond is rooted in a shared belief that housing stability is foundational to individual well-being and community strength. Through financial expertise and a commitment to place-based impact, Old National supports CommonBond’s mission in the communities it serves.

      “One thing that's been really impressive about working with Old National Bank is the wide variety of products and services that they offer, and the ways they've been involved with us to support our mission,” said Deidre Schmidt, CommonBond President & CEO. “They're creative, and they share this deep community root and understanding of why we're doing the work.”

      Strategic Investment to Preserve Affordable Housing

      As part of this partnership, Old National participated in the Minnesota State Housing Tax Credit Contribution Program, providing critical support for properties within CommonBond’s existing housing portfolio.

      By prioritizing preservation over new development alone, this investment helps strengthen long-term property viability while minimizing disruption for current residents. The result is enhanced financial stability for housing communities and greater housing security for the individuals and families who call them home.

      Support Beyond Traditional Banking

      Old National’s partnership with CommonBond extends beyond financing and includes:

      • Philanthropic support for adult education and advancement programs
      • Multi-year sponsorships of fundraising events and community initiatives
      • Team member engagement that reinforces local connection and shared responsibility

      This comprehensive approach reflects Old National’s belief that meaningful community equity work is built on sustained collaboration.

      “Our partnership with Old National Bank illustrates our shared values of strength and stability in many different ways,” Schmidt said. “Philanthropically, Old National Bank has supported our adult education and advancement programs. Then, in addition to that, Old National Bank has become a multi-year sponsor of some of our important fundraising events and community gatherings.”

      Local Impact, Collective Results

      Together, ONB Community Equity and CommonBond Communities demonstrate how coordinated investment, philanthropy, and engagement can preserve affordable housing and strengthen neighborhoods.

      Through partnerships like this, Old National continues to advance its commitment to community equity — supporting stability today while helping build stronger communities for the future.

      To learn more about how Old National supports and strengthens the communities it serves, click here.

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