Old National Bancorp operates as the bank holding company for Old National Bank that provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. The company also provides full service insurance brokerage services and other financial services through its non-bank affiliates. Segments The company operates in two segments, Banking and Insurance. Banking segment This segment operates through the bank. The primary intention of this segment is to provide products and services that address clients’ needs and help clients reach their financial goals by offering a range of services. The company’s financial centers focus on convenience factors, such as location, space for private consultations, and quick client access to routine transactions. As of December 31, 2015, the company operated 160 banking financial centers located primarily in Indiana, Kentucky, and Michigan. This segment primarily consists of lending and depository activities along with cash management, private banking, brokerage, trust and investment advisory services. In addition, this segment includes Indiana Old National Insurance Company (IONIC), which reinsures credit life insurance. IONIC also provides property and casualty insurance for the company and reinsures most of the coverage with non-affiliated carriers. Lending Activities Lending activities include loans to individuals, which primarily consist of home equity lines of credit, residential real estate loans and consumer loans, and loans to commercial clients, which include commercial loans, commercial real estate loans, letters of credit, and lease financing. Depository Activities Deposit accounts include products, such as noninterest-bearing demand, negotiable order of withdrawal, savings and money market, and time deposits. Debit and ATM cards provide clients with access to their accounts 24 hours a day at any ATM location. The company also provides 24-hour telephone access and online banking, as well as other electronic and mobile banking services. Insurance segment This segment offers full-service insurance brokerage services, including commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance. The company’s agency offers products that are issued and underwritten by various insurance companies not affiliated with the company. In addition, the company has two affiliated third party claims management companies that handle service claims for self-insured clients. Investment Securities As of December 31, 2015, the company’s investment securities portfolio included U.S. treasury, U.S. government-sponsored entities and agencies, mortgage-backed securities – agency, states and political subdivisions, pooled trust preferred securities, and other securities. Supervision and Regulation The Dodd-Frank Wall Street Reform and Consumer Protection Act contains various provisions that affect all bank holding companies and banks, including the company and the bank. The company is subject to the supervision of, and regulation by, the Board of Governors of the Federal Reserve System (Federal Reserve) under the Bank Holding Company Act of 1956, as amended. All of the deposits of the bank are insured up to applicable limits by the Deposit Insurance Fund (DIF) of the Federal Deposit Insurance Corporation and the bank is subject to deposit insurance assessments to maintain the DIF. The bank is a member of the Federal Home Loan Bank System. Transactions between the bank and its affiliates are regulated by the Federal Reserve under sections 23A and 23B of the Federal Reserve Act and related regulations. The bank is subject to federal consumer protection statutes and regulations promulgated under those laws, including but not limited to, the Truth-In-Lending Act and Regulation Z; Home Mortgage Disclosure Act and Regulation C; Fair Credit Reporting Act and Regulation V; Equal Credit Opportunity Act and Regulation B; Fair Debt Collection Act; Truth in Savings Act and Regulation DD; Right to Financial Privacy Act; and Electronic Funds Transfer Act. The bank is subject to the provisions of the National Bank Act, is supervised, regulated and examined by the Office of the Comptroller of the Currency, and is subject to the rules and regulations of the Office of the Comptroller of the Currency, Federal Reserve and the Federal Deposit Insurance Corporation. History Old National Bancorp was founded in 1834.
old national bancorp (ONB:NASDAQ GS)
One Main Street
Evansville, IN 47708
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