Fed, OCC approve Old National Bancorp, CapStar Financial merger

As previously announced, on October 26, 2023, CapStar Financial (CSTR) and Old National Bancorp (ONB) entered into an agreement and plan of merger pursuant to which CapStar will merge with and into Old National, with Old National as the surviving corporation. Following the merger, on a date to be determined by Old National, CapStar Bank, a wholly-owned subsidiary of CapStar that is headquartered in Nashville, Tennessee, will merge with and into Old National Bank, a wholly-owned subsidiary of Old National, with Old National Bank as the surviving bank. On February 20, the Board of Governors of the Federal Reserve System approved the merger and the Office of the Comptroller of the Currency approved the bank merger, CapStar disclosed in a regulatory filing. Completion of the merger remains subject to approval by CapStar’s shareholders at a special meeting to be held on February 29, as well as the satisfaction of the other customary closing conditions set forth in the merger agreement. The merger is currently expected to be completed on April 1, CapStar stated.