Old National Bank expands into Metro Detroit market

Rhea-AI Summary

Old National is expanding into the Metro Detroit market by securing office space in the Liberty Center building in Troy, Michigan. This new expansion will be led by Rick Hampson, appointed as the Metro Detroit Market President, who brings 27 years of experience in commercial banking. The new team aims to strengthen Old National's presence in Michigan, where it is already established. With approximately $47 billion in assets, Old National ranks among the top 35 banking companies in the U.S. This expansion represents a strategic move to enhance service capabilities in a significant growth market.

Positive

• Expansion into a key growth market of Metro Detroit.
• Appointment of experienced leadership in Rick Hampson.
• Potential to enhance commercial banking presence in Michigan.

Negative

• None.

EVANSVILLE, Ind., March 09, 2023 (GLOBE NEWSWIRE) -- Old National is expanding into the Metro Detroit market. Old National has secured office space in the Liberty Center building in Troy, Mich., which will house the Metro Detroit commercial banking team.

The team will be led by Rick Hampson who will serve as the Metro Detroit Market President. He joins Old National with 27 years of commercial banking experience in large corporate syndicated banking and middle market banking. Hampson will report to George Bailey, Old National’s Michigan State Executive.

“We are excited about Old National's expansion into Metro Detroit, and we have a very experienced and dynamic team to help us lead the way," said Jim Sandgren, CEO Commercial Banking. “Old National is already very strong in other Michigan markets, and this group can certainly take us to the next level in establishing a commercial presence in this important growth market."

Old National’s Metro Detroit team includes:

• Rick Hampson – Metro Detroit Market President
• Andrea Boucher - Commercial Real Estate Relationship Manager
• Sarah Knapp – Specialty Lending Relationship Manager
• Neran Shaya – Senior Housing Finance Relationship Manager
• Adam Zale – Commercial Real Estate Underwriter
• Daniel Zinser – Corporate Banking Relationship Manager
• Kevin Goryl – Strategic Talent Sourcer
  

“What excites me most about this expansion is that we have the right team and relationships in place to serve this important market,” added Bailey. “This builds upon the great work we are doing with our clients throughout Michigan, and the move into Metro Detroit represents a natural growth progression for the bank.”

About Old National

Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank, which is the sixth largest commercial bank headquartered in the Midwest. With approximately $47 billion of assets and $28 billion of assets under management, Old National ranks among the top 35 banking companies headquartered in the U.S. Since its founding in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients and in the communities it serves. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment, and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.

CONTACT
Jamie Guise
734-780-2853
Jamie.Guise@oldnational.com

FAQ

What is Old National's stock symbol?

Old National's stock symbol is ONB.

What recent expansion did Old National announce?

Old National announced its expansion into the Metro Detroit market.

Who is leading the Metro Detroit team for Old National?

Rick Hampson is appointed as the Metro Detroit Market President.

What are Old National's total assets?

Old National has approximately $47 billion in assets.

Where is Old National's new office located?

Old National's new office is located in the Liberty Center building in Troy, Michigan.