DBRS: Old National unchanged

DBRS said that Old National Bancorp's issuer and senior debt ratings of BBB are unaffected by the news that the company intends to acquire Monroe Bancorp.

The trend remains stable.

The acquisition is valued at about $83.5 million and will be paid with Old National stock, DBRS said.

The agency noted that the purchase will have a relatively modest impact on Old National's solid capital position.

DBRS said there may be some asset quality challenges with the addition of Monroe's large component of real estate loans, but they should be manageable.

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