Old National Bank’s previously-announced acquisition of Bloomington, Ind.-based Monroe Bank has received federal regulatory approval.
The deal was originally announced in October. On Wednesday, the financial institutions announced that both the Federal Reserve Board and the Office of the Comptroller of the Currency have approved the deal.
The Office of the Comptroller of the Currency approved the merger of Monroe Bank into Old National Bank. The Federal Reserve approved Old National’s holding company, Old National Bancorp, acquisition of Monroe Bank’s holding company, Monroe Bancorp.
The acquisition is expected to be complete on Jan. 1, subject to approval by Monroe Bancorp’s shareholders and the Indiana Department of Financial Institutions.


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