Old National Completes Monroe Buy

NEW YORK ( TheStreet) -- Old National Bancorp ( ONB) has completed its $90.1 million merger of Monroe Bancorp ( MROE), according to a company statement.

Old National shares were trading up 25 cents at $12.14.

The merger, which was announced in October, was approved by regulators in December and closed on January, 1, 2011. The acquisition was originally valued at $83.5 million.

The acquisition will expand Old National's presence as the third largest branch in Indiana. The bank will gain 15 banking centers in central and south central Indiana. The bank branches will be converted over to the Old National Bancorp name by May, 2011.

--Written by Maria Woehr in New York.

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