Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 37

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 37
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 the effect that, as of the date of such opinion and based upon and subject to the factors and assumptions made, procedures followed, matters considered and limitations and qualifications set forth in such opinion, the merger consideration to be paid to the holders of Bremer common stock in the

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mergers was fair, from a financial point of view, to Bremer’s shareholders. For further information, see the section entitled “The Mergers — Opinion of Bremer’s Financial Advisor.”

Combining Old National and Bremer may be more difficult, costly or time-consuming than expected, and the anticipated benefits and cost savings of the mergers may not be realized.

Old National and Bremer have operated and, until the completion of the mergers will continue to operate, independently. The success of the mergers, including anticipated benefits and cost savings, will depend, in part, on Old National’s and Bremer’s ability to successfully combine and integrate the businesses of Old National and Bremer in a manner that permits growth opportunities and does not materially disrupt existing customer relations or result in decreased revenues due to loss of customers. It is possible that the integration process could result in the loss of key employees, the disruption of either company’s ongoing businesses or inconsistencies in standards, controls, procedures and policies that adversely affect the combined company’s ability to maintain relationships with clients, customers, depositors or employees or to achieve the anticipated benefits and cost savings of the mergers. The loss of key employees of Bremer could adversely affect Old National’s ability to successfully conduct its business, which could have an adverse effect on Old National’s financial results and the value of Old National’s common stock after the mergers. In addition, Old National may not be able to locate suitable replacements for any key Bremer employees who leave the combined company.

If Old National and Bremer experience difficulties with the integration process, the anticipated benefits of the mergers may take longer to realize than expected or may not be realized fully or at all. As with any merger of financial institutions, there also may be business disruptions that cause Old National and/or Bremer to lose customers or cause customers to remove their accounts from Old National and/or Bremer and move their business to competing financial institutions. Integration efforts between the two companies may also divert management attention and resources. These integration matters could have an adverse effect on each of Old National and Bremer during this transition period and for an undetermined period after completion of the mergers on the combined company.

Reg