8-K
Old National Bancorp /In/ (ONB)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________________________________________________
FORM 8-K
_________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 28, 2021
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OLD NATIONAL BANCORP
(Exact name of Registrant as specified in its charter)
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| Indiana | 001-15817 | 35-1539838 | ||||
|---|---|---|---|---|---|---|
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | One Main Street | |||
| --- | --- | --- | ||||
| Evansville, | Indiana | 47708 | ||||
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (800) 731-2265
________________________________________________________
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br><br>Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, No Par Value | ONB | The NASDAQ Stock Market LLC |
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (s230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (s240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
On January 28, 2021, Old National Bancorp (the “Company”) issued a press release announcing that the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.14 per common share. The dividend is payable March 15, 2021, to shareholders of record on March 1, 2021. For purposes of broker trading, the ex-dividend date of the cash dividend is February 26, 2021.
On January 28, 2021, the Board also approved the adoption of a stock repurchase plan that authorizes the purchase of up to $100 million of the outstanding shares of Company common stock, as conditions warrant, through January 31, 2022.
Attached hereto as Exhibit 99.1 is the press release issued by the Company which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release issued by Old National Bancorp on January 28, 2021.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 28, 2021
OLD NATIONAL BANCORP
By: /s/ Jeffrey L. Knight
Jeffrey L. Knight
Executive Vice President
Chief Legal Counsel and Corporate Secretary
3
Document
Exhibit 99.1
Old National Bancorp
One Main Street
Evansville, IN 47708
oldnational.com
Media: Kathy A. Schoettlin (812) 465-7269
January 28, 2021 Investors: Lynell J. Walton (812) 464-1366
Old National Bancorp announces quarterly cash dividend and stock repurchase plan
Evansville, Ind. (January 28, 2021) – The Board of Directors of Old National Bancorp (the “Company” or “Old National”) (NASDAQ: ONB) today declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding shares of common stock. The dividend is payable March 15, 2021, to shareholders of record on March 1, 2021. For purposes of broker trading, the ex-date of the cash dividend is February 26, 2021. Based on Old National’s closing price of $17.09 on January 27, 2021, the quarterly dividend represents an annualized dividend yield of 3.3%.
The Board of Directors has also approved the adoption of a stock repurchase plan that authorizes the repurchase of up to $100 million of the outstanding shares of Old National Bancorp common stock, as conditions warrant, through January 31, 2022. These shares may be purchased in either the open market or in privately negotiated transactions, in accordance with SEC regulations.
ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest bank holding company headquartered in Indiana. With $23.0 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for nine consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships and keeping our clients at the center of all we do. This is an approach to business that we call The ONB Way. Today, Old National’s footprint includes Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. 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.