Old National to close south branch

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TELL CITY – Old National Bancorp will close its branch on Tell City’s south side later this year as part of a company-wide effort to boost efficiency. 

ONB spokeswoman Kathy Schoettlin and Jon Hartz, the bank’s operations executive for its southern region and market president in Tell City, said Wednesday the south-side location will close Aug. 30. Letters to customers will be mailed in coming days and they pledged a “seamless” process for customers who have been doing their banking at the branch. 

By keeping the Main Street location open, the bank will retain its community room and the larger amount of space the location offers. 

Schoettlin said the bank will do all it can to lessen the impact on employees and will adjust its staffing in a way to lessen the likelihood of layoffs. That could include “stacking” employees at branches with the expectations that there will be future vacancies and adjusting the hiring of new employees to allow staff affected by consolidations to keep their jobs. 

“We are a large company and there is turnover,” she said. 

In a filing last week, ONB announced it would consolidate 18 banking centers as part of its ongoing efforts toward achieving a sought-after 65 percent efficiency ratio target by the fourth quarter of the year. Thirteen of the branches that will be closed are inside stores in the Indianapolis area, with others in Monticello, Maysville and Kendallville. A free-standing branch, such as the one in Tell City, will also be consolidated in Richmond.

Old National leases the south-side branch. It has owned its Main Street location since the former Citizens National Bank opened in 1904.