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MINNEAPOLIS - Old National Bancorp (NASDAQ:ONB), a banking institution with a market capitalization of $8.2 billion and a "GOOD" financial health rating according to InvestingPro, has appointed Matt Keen as Chief Information Officer (CIO), the company announced Tuesday. Keen, who will join the bank’s Executive Leadership Team, brings over 30 years of technology leadership experience to the role.
Keen previously served as CIO for Bremer Bank, which became a division of Old National Bank on May 1, 2025. His career includes technology leadership positions at PriceWaterhouseCoopers, Ameriprise Financial, and Two Harbors Investments.
In his new position, Keen will lead Old National’s technology strategy, focusing on innovation and enhancing client and team member experiences through technology, data, and analytics.
"As Old National continues our Midwest and Southeast expansion, our technology strategy and capabilities are also evolving to continue meeting our ever-growing clients’ needs and expectations," said Old National Chairman & CEO Jim Ryan in the press release.
Keen, who holds a degree in quantitative methods and computer science from the University of St. Thomas, succeeds Paul S. Kilroy, who is retiring after joining Old National in 2020.
Old National Bancorp, with approximately $70 billion in assets and $37 billion in assets under management (including Bremer Financial Corporation on a pro forma basis as of March 31, 2025), ranks among the top 25 banking companies headquartered in the United States. Trading at a P/E ratio of 12.8 and maintaining a 43-year streak of consecutive dividend payments, the bank has demonstrated strong financial stability, according to InvestingPro analysis. The bank primarily serves clients in the Midwest and Southeast regions, with analysts maintaining a positive outlook on its profitability prospects for the current fiscal year.
In other recent news, Old National Bancorp has completed forward sale agreements, generating net proceeds of approximately $443.2 million. This financial move involved the sale of 21,904,762 shares, including an additional forward sale agreement executed in November 2024. Jefferies has initiated coverage on Old National Bancorp with a Hold rating and a price target of $24.00, noting the company’s potential to enhance net interest income through strategic repricing. The firm also highlighted the ongoing integration of Bremer Financial Corporation as a factor influencing the stock’s valuation.
Additionally, Old National Bancorp’s shareholders approved all proposals at the 2025 Annual Meeting, including the election of directors and the appointment of Deloitte & Touche LLP as the independent auditor. The company has also declared a quarterly cash dividend of $0.14 per share on its common stock, payable in June 2025, and dividends for its preferred stock series. The completion of these agreements and shareholder approvals reflect Old National Bancorp’s active engagement in managing its capital structure and commitment to corporate governance.
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