You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • 2 firms to expand, add jobs
    A pair of companies will look to improve their operations with an investment of nearly $3 million combined, according to tax abatement ­requests filed last week with the city.
  • UPS boostsnumber ofholiday jobs
    DALLAS – UPS plans to hire up to 95,000 workers to help deliver packages during the busy holiday season – an increase from last year, when the company was caught unprepared for a boom in online shopping.
  • Voss opens its new headquarters
    A new North American headquarters has opened in Fort Wayne.Voss Automotive and state officials on Tuesday held a ribbon-cutting ceremony for the company’s new $7.
Advertisement

Tower stockholders agree to Old National acquisition

Old National Bancorp and Fort Wayne-based Tower Financial Corp. leaders announced plans to form what they described as a partnership in the fall.

They approved their merger Friday.

Tower’s shareholders OK’d the acquisition during a morning business meeting. Old National of Evansville takes the reins in a deal estimated at $107.7 million.

Officials have said Tower locations will remain open and staffed with the same executives, loan officers and tellers. Any jobs cuts in the consolidation would be positions that function behind the scenes. Old National hasn’t announced how many of the original 165 Tower employees will be dismissed.

Old National has $9.6 billion in assets and 176 branches, while Tower has almost $681 million in total assets and seven branches.

pwyche@jg.net

Advertisement