A backbone of Evansville banking is shrinking its Tri-State footprint, officials announce Monday. Old National is selling and consolidating branches in order to improve efficiency. In total, 36 branches are affected.
Old National operates more than 150 branches, but that number will be shrinking between March and May.
Bank officials say the downsizing is part of an evolving industry, but customers aren’t happy, and believe they’re being left out in the cold. Outside Old National’s Fort Branch, IN office, we talked to people who were just finding out, “I heard some talk in there but I didn’t know much about it other than that,” says Jackson Campbell.
Kathy Schoettlin, Executive Vice President of the bank says this is business as usual. “We do consistently look at out banking center networks and looking at market dynamics, client traffic, also the conditions of the facilities.”
“I’m not excited about that,” says another Old National customer, Connie Gray, “I’ve banked here for quite a few years.”
Further west, Old National is selling 12 branches in Southern Illinois to local community banks: MainSource and First Mid. “We had a partner that was very interested. They are deeply rooted in Illinois, they were looking to expand,” adds Schoettlin.
Old National says customers can expect a seamless transition there, and all of the Southern Illinois employees will be retained.
But for the other 24 branches, the future remains hazy and layoffs could be coming, “With the consolidations, we’re still assessing our staffing needs. If there’s any impact, it’ll be minimal,” says Schoettlin.
As technology continues to evolve, and we now have internet access in our pockets, officials say branches are becoming a thing of the past.
“We’ve seen a decrease in traffic in banking centers,” adds Schoettlin, “So the options that you can do mobile banking and online banking.”
But some customers are still looking to bank the old fashioned way.
“I have to drive to Princeton I guess,” says Jackson, “So I drive down there instead of come here. So it’d be farther away.”
Old National says last year was one of its best years financially since 2002, and they insist these changes are about efficiency and not related to it trimming back its contribution to a new downtown Evansville hotel.
A full list of the branches impacted by the consolidation is listed below:
MainSource Bank will purchase five banking centers
Union City, Ohio
First Mid-Illinois Bank & Trust will buy banking center facilities at 12 banking centers
In mid March, the following banking centers will be closed or consolidated into other ONB locations:
Fishers Starbucks – Fishers, IN
Jasper Manor – Jasper, IN
Vincennes Plaza – Vincennes, IN
Washington Main – Washington, IN
South Adrian – Adrian, MI
Greenville Airport – Greenville, KY
In mid-May, the following banking centers will be closed or consolidated into other ONB locations
Fox Road Marsh – Indianapolis, IN
Pendleton Pike Starbucks – Indianapolis, IN
Franklin Walmart – Franklin, IN
Westfield Kroger, Westfield, IN
Longden/Williams – Greencastle, IN
West Lafayette Marsh – Lafayette, IN
Hillsboro – Hillsboro, IN
Losantville – Losantville, IN
Marion – Marion, IN
Fort Branch – Fort Branch, IN
Constantine – Constantine, MI
Fairplain – Benton Harbor, MI
Beechmont – Beechmont, KY