Madison—Old National Bank (NASDAQ: ONB) announced today that as of May 1, 2016, it has completed its partnership with Anchor BanCorp Wisconsin Inc. This partnership, which provides an entry point for Old National into the most vibrant communities in the state of Wisconsin, includes 46 AnchorBank branch locations and adds $1.7 billion in total loans and $1.8 billion in total deposits to Old National’s assets, based on March 31, 2016, balances.
As a result of the closing, AnchorBank is now officially a division of Old National, with full conversion and integration of all AnchorBank branches to Old National Bank planned for the third quarter of 2016.
“Anchor clients shouldn’t notice any changes at this time, aside from a modified logo that defines AnchorBank as a division of Old National Bank,” said AnchorBank President and CEO Chris Bauer. “Other than that, it is business as usual at all of our branches—same checks, same debit cards, same account numbers and same friendly, knowledgeable faces.”
Len Devaisher named CEO of Old National’s Wisconsin Region
As part of the partnership with Old National Bank, Len Devaisher was recently named the Chief Executive Officer of ONB’s Wisconsin Region.
Devaisher joined Old National in 2000 as part of the commercial lending team. In 2010, he took a leave of absence to become Chief Operating Officer of the Christian ministry, “Young Life” in Tanzania, Africa. He returned to Old National in 2013 as Business Partner Executive and assumed responsibility for the company’s Commercial Administration, Cash Management and Indirect Lending functions in 2014. Devaisher holds a bachelor’s degree in economics from the University of Evansville.
Kevin Anderson named ONB Milwaukee Region President
Kevin Anderson will serve as Milwaukee Region President, overseeing market activities in the Milwaukee area. Anderson will report to Wisconsin Region CEO Len Devaisher.
Anderson joined ONB in 2014 and was most recently Senior Vice President, Corporate Relationship Manager in the Louisville Region. Prior to joining Old National, Anderson was Senior Vice President, Commercial Banking Manager at Fifth Third Bank in Louisville. He is a graduate of the University of Kentucky.
About Old National Bank
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest financial services holding company headquartered in Indiana. With $11.9 billion in assets at March 31, 2016, it ranks among the top 100 banking countries in the U.S. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients. Today, Old National’s footprint includes Indiana, Kentucky, Michigan and Wisconsin. In addition to providing extensive services in retail and commercial banking, investments and brokerage, Old National’s Wealth Management Division is a Top 100 Fiduciary.