Operations Headache

Imagine having 21 banks, all operating under their own names, in three states, all with their own charters and products, and all part of one Bancorp.

Old National Bancorp, Evansville, Illinois, says its 21 banks will become one by the end of 1999, saving about $400,000 a year for each bank it consolidates. They also plan to reduce the number of different types of checking accounts from 72 to seven!

Copyright © 1998 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 8, No. 9, 9/98