Old National Bank announced Tuesday morning its 4th quarter earnings for 2019.
According to a press release, ONB reported at net income of $49.2 million for the quarter. This led to a 2019 adjusted net income of $249.9 million.
ONB CEO Jim Ryan was happy with the results. “Our 4th quarter results capped a strong year of earnings. Full-year 2019 results included three quarters of record net income, stellar credit metrics, well controlled expenses and record commercial loan production, all of which was accomplished while finalizing a new strategic plan – known as The ONB Way – that will ensure our clients remain at the center of all we do.”
But, among the earnings, ONB also announced the closures of 31 banking centers, including two in Evansville and one in Owensboro.
The ONB Banking center at North Main Street and Lincoln Ave in Evansville. are among a list of 10 in Indiana, 10 in Wisconsin, five in Michigan, four in Minnesota, and two in Kentucky. One of the two in Kentucky is the banking center located on West Parrish Avenue in Owensboro.
“Another component of The ONB Way is the optimization of our branch networks,” said in a press release. “This optimizations reflects an ongoing shift among our clients towards digital banking solutions. May of the facilities to be consolidated are in smaller markets, several of which were added in recent years through partnership activity.”
The consolidations are expected to be completed by April 24th. Staffing at these branches has yet to be determined. ONB hopes to keep ATMs active at these two locations following the closures.