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

  • Boeing to give California workers $47 million in back pay
    PALMDALE, Calif. — Boeing Co. will pay $47 million to hundreds of current and former Southern California employees who are owed back pay and benefits, a union announced Friday.
  • Startup funds soar to highest since 2001
    Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report published Friday.
  • China trade group steps in
    Chinese police hauled away dozens of workers Friday to break up a march on a factory complex targeted by tens of thousands of laborers striking against the world’s largest maker of athletic shoes, while a government trade union said it would mediate
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