Fitch: Old National unchanged

Fitch Ratings said that Old National Bancorp's long-term issuer default rating of BBB and stable and outlook will not be affected by its FDIC-assisted acquisition of Integra Bank that was announced in July.

Fitch said it views this acquisition as neutral to the bank's ratings over the near term.

The agency said it viewed Integra as a troubled institution, supported by the loss-sharing agreement with the FDIC that the bank received on Integra's loan portfolio.

Longer term, Fitch said it will consider the bank's ability to integrate Integra into its operations, the performance of the acquired loan portfolio, the ability to realize expected cost savings from this transaction and the attrition rate of acquired clients.

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