Old National Bank to be sold to a Mattoon based bank

The Old National Bank in Harrisburg, as well as nine other Old National Banks in Illinois have been purchased by Mid-Illinois Bank and Trust of Mattoon.

Mid-Illinois, whose parent company is Mid-Illinois Bancshares Incorporated, announced the sale on Jan. 30 of this year. In a Mid-Illinois Bancshares press release, the company Chairman and CEO Joe Dively stated that, "These communities fit well geographically and the services offered align well with our product line."

Old National Bank Regional President Jeff Spith said Tuesday Old National is expanding into new growing markets.

"Old National is acquiring new markets in Michigan and Indiana and is repositioning into markets with higher growth potential," Spith said.

Spith stated that the 10 banks being purchased by Mid-Illinois represent $502 million of deposits and $160 million of performing loans. Spith further stated that all of the personell currently employed by the banks will retain their jobs.

"We expect to see the name change around August of this year," Spith said.

Mid-Illinois Bancshares was founded in 1865 and is worth over 1.6 billion dollars in assets. The company presently operates some 35 banking institutions in Illinois. The Old National Bank operations being acquired by Mid-Illinois are located in the communities of Carbondale, De Soto, Murphysboro, Mount Vernon, Lawrenceville, Harrisburg, Mt. Carmel, Carmi, Carterville and Marion.

"We are adding an outstanding group of banking professionals who are committed to their customers and communities and who will be an integral part of the First Mid team," Dively said in prepared release.