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Old National Bank to Acquire Branches in Northern Indiana and Southwestern Michigan

Old National Bank to Acquire Branches in Northern Indiana and Southwestern
Michigan

      Expands Footprint in Northern Indiana and Enters State of Michigan

  *Acquisition includes 24 banking centers in Northern Indiana and Southwest
    Michigan and nearly $780 million in deposits
  *The transaction is expected to close 3^rd quarter 2013

EVANSVILLE, Ind., Jan. 9, 2013 (GLOBE NEWSWIRE) -- Old National Bancorp
(NYSE:ONB) announced today that its bank subsidiary, Old National Bank,
entered into a purchase and assumption agreement to acquire 24 retail bank
branches of Bank of America. The branches are located in the Northern Indiana
cities of South Bend and Elkhart, and the Southwest Michigan cities of Adrian,
Battle Creek, Benton Harbor, Blissfield, Brooklyn, Constantine, Jackson,
Kalamazoo, Niles, Paw Paw, Portage, and St. Joseph.

Deposit and loan balances to be included in the transaction were $778.8
million and $7.7 million, respectively, as of August 2012. This transaction is
subject to regulatory approval from the Office of the Comptroller of the
Currency (OCC) and the satisfaction of customary closing conditions.

With $9.4 billion in assets, Old National is the largest financial services
holding company headquartered in Indiana. This acquisition will position Old
National with more than 200 banking centers and enables the company to expand
its branch network in Northern Indiana and into the communities of Southwest
Michigan. Old National does not anticipate any job losses as a result of this
transaction.

Growing in the Northern Indiana region and entering the state of Michigan have
long been a focus of Old National. The company first joined the area in 2007
with the acquisition of St. Joseph Capital Corporation in Mishawaka. The bank
then opened two new locations; one in Granger, Ind. in 2009; and another in
South Bend's Eddy Street Commons in 2010. This transaction doubles the number
of branches in Northern Ind. and gives current clients of Old National's South
Bend and Elkhart locations the benefit of an expanded footprint. This
partnership marks the company's first entry point into the state of Michigan.

"This acquisition allows us to accelerate our growth market expansion strategy
and strengthens our commitment to our current clients in the Michiana area by
providing an enhanced network of banking centersand continued unparalleled
client care," commented Old National Bancorp's President and CEO Bob Jones.
"It also allows us to fulfill our previously stated desire to expand our
franchise into Southwest Michigan communities."

"We look forward to welcoming these clients to Old National and providing them
with the same professional and convenient service they are accustomed to
receiving," Jones added."As Old National clients, they will experience a
178-year legacy built upon the principles of personal service and stable,
secure, community-focused banking designed to help them achieve their
financial goals."

Both banks will be working closely together to ensure a seamless transition
for the clients' accounts and associates transferring to Old National. Clients
of the banking centers included in this transaction will not experience any
changes to their accounts or banking routines at this time.

Old National's legal advisor was Krieg DeVault LLP.

About Old National

Old National Bancorp (NYSE:ONB) is the largest financial services holding
company headquartered in Indiana and, with $9.4 billion in assets, ranks among
the top 100 banking companies in the U.S. Since its founding in Evansville in
1834, Old National has focused on community banking by building long-term,
highly valued partnerships with clients in its primary footprint of Indiana,
Illinois and Kentucky. In addition to providing extensive services in retail
and commercial banking, wealth management, investments and brokerage, Old
National also owns Old National Insurance, one of the 100 largest brokers in
the U.S. For more information and financial data, please visit Investor
Relations at oldnational.com.

The Old National Bancorp logo is available
athttp://www.globenewswire.com/newsroom/prs/?pkgid=1872

                               Conference Call

Old National will hold a conference call at 1:00 p.m. CT on Wednesday, January
9, 2013, to discuss this transaction. The live audio web cast of the call,
along with the corresponding presentation slides, will be available on the
Company's Investor Relations web page at oldnational.com and will be archived
there for 12 months. A replay of the call will also be available from 4:00
p.m. CT on January 9 through January 23.To access the replay, dial
1-855-859-2056, conference code 86392831.

                          Forward-Looking Statement

This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.These
statements include, but are not limited to, descriptions of Old National's
financial condition, results of operations, asset and credit quality trends
and profitability and statements about the expected timing, completion,
financial benefits and other effects of the proposed branch purchase
transaction. Forward-looking statements can be identified by the use of the
words "anticipate," "believe," "expect," "intend," "could" and "should," and
other words of similar meaning.These forward-looking statements express
management's current expectations or forecasts of future events and, by their
nature, are subject to risks and uncertainties and there are a number of
factors that could cause actual results to differ materially from those in
such statements. Factors that might cause such a difference include, but are
not limited to: expected cost savings, synergies and other financial benefits
from the proposed branch transaction not being realized within the expected
time frames and costs or difficulties relating to integration matters might be
greater than expected; the requisite regulatory approvals for the proposed
branch transaction might not be obtained; market, economic, operational,
liquidity, credit and interest rate risks associated with Old National's
business, competition, government legislation and policies (including the
impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act and
its related regulations), ability of Old National to execute its business plan
(including the proposed branch transaction) and satisfy the items addressed in
Old National's Consent Order with the Office of the Comptroller of the
Currency, changes in the economy which could materially impact credit quality
trends and the ability to generate loans and gather deposits, failure or
circumvention of Old National's internal controls, failure or disruption of
our information systems, failure to adhere to or significant changes in
accounting, tax or regulatory practices or requirements, new legal obligations
or liabilities or unfavorable resolutions of litigations, other matters
discussed in this presentation and other factors identified in the Company's
Annual Report on Form 10-K and other periodic filings with the Securities and
Exchange Commission.These forward-looking statements are made only as of the
date of this press release, and Old National undertakes no obligation to
release revisions to these forward-looking statements to reflect events or
conditions after the date of this release.

Branch locations included in this acquisition:

Indiana

  oElkhart - 320 N Main St
  oSouth Bend - 1404 E Ireland Rd
  oSouth Bend - 130 S Main St
  oSouth Bend - 17330 State Rd 23

Michigan

  oAdrian - 1380 S Main St
  oBattle Creek - 6030 B Dr N
  oBattle Creek - 25 Capital Ave SW
  oBattle Creek - 140 Columbia Ave W
  oBenton Harbor - 1803 M-139 S
  oBlissfield - 520 W Adrian St
  oBrooklyn - 131 S Main St
  oConstantine - 1055 S Washington St
  oJackson - 215 S Jackson St
  oJackson - 1650 W Michigan Ave
  oKalamazoo - 220 N Drake Rd
  oKalamazoo - 5810 Gull Rd
  oKalamazoo - 318 W Michigan
  oKalamazoo - 3201 Portgage Rd
  oKalamazoo - 6338 Stadium Dr
  oNiles - 1903 S 11th St
  oPaw Paw - 118 N Kalamazoo St
  oPortage - 4431 W Centre Ave
  oPortage - 6660 S Westnedge Ave
  oSaint Joseph - 3125 Cleveland

CONTACT: Media:
         Kathy A. Schoettlin - (812) 465-7269
         Executive Vice President - Communications
        
         Financial Community:
         Lynell J. Walton - (812) 464-1366
         Senior Vice President - Investor Relations

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