American Banker, February 3, 2022, Old National reaches deal with advocates as merger nears finish line
Old National and the National Community Reinvestment Coalition said Thursday that the five-year, $8.3 billion plan includes close to $5 billion in community lending and affordable housing commitments, plus $3.3 billion in community development initiatives and philanthropic programs.
As part of the deal with the National Community Reinvestment Coalition, Old National agreed to provide $2 billion in loans to promote homeownership and home improvements in less wealthy communities, particularly in areas where Black and Hispanic borrowers predominantly live.
“We recognize the important role that our banks play in helping to shape a better financial future, and we are proud to partner with NCRC to build on our strong legacy of service and make a lasting impact on the hundreds of communities we serve today, as well as in the future,” Old National Chairman and CEO Jim Ryan said in a press release.
