Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 97

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 97
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). In connection with the bank merger, Old National Bank is also applying for the OCC’s approval to operate Bremer Bank’s main office and branches as licensed branches of Old National Bank under the Bank Merger Act, Sections 36(c) and 36(d) of the National Bank Act (12 U.S.C. §§ 36(c) and 36(d)), and 12 U.S.C. § 1831u(d); and to acquire the subsidiaries of Bremer Bank and operate them as operating subsidiaries of Old National Bank, under 12 U.S.C. § 24, § 24a, all in accordance with 12 C.F.R. part 5.

The Federal Reserve and the OCC take into consideration a number of factors when acting on applications under the BHC Act and the Bank Merger Act and National Bank Act, respectively. These factors include the effect of the mergers on competitiveness in affected banking markets, the financial and managerial resources (including consideration of the capital adequacy, liquidity and earnings performance, as well as the competence, experience and integrity of the directors and officers, and the records of compliance with applicable laws and regulations) and future prospects of the combined company. The Federal Reserve and the OCC also consider the effectiveness of the applicant in combatting money laundering, the convenience and needs of the communities to be served, as well as the extent to which the proposal would result in greater or more concentrated risks to the stability of the U.S. banking or financial system.

In considering an application under the respective provisions of the BHC Act, the Bank Merger Act and the National Bank Act, the Federal Reserve and the OCC also review the records of performance of

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the relevant insured depository institutions under the Community Reinvestment Act (the “CRA”), pursuant to which the Federal Reserve and the OCC must also take into account the record of performance of each of Old National and Bremer in meeting the credit needs of the respective communities, including low- and moderate-income neighborhoods, served by Old National Bank and Bremer Bank. As part of the application review process in merger transactions, the Federal Reserve and the OCC each may receive comment letters from members of the public. In their most recent CRA performance evaluations, Old National Bank received an overall “satisfactory” regulatory rating, and Bremer Bank received an overall “outstanding” regulatory rating, under the CRA.

In addition, in connection with an interstate merger transaction, the Federal Reserve and the OCC