KBW Reports On ONB

According to KBW, Old National Bancorp ONB, shares are expected to increase pending 2Q11 results. KBW announced that ONB entered into an agreement with the FDIC over the weekend, and that this will result in the acquisition of Integra Bank, which will include approximately $1.5billion of deposits and $1.2B of loans. Target is currently set to $11 and rating to Market Perform, although, these could each change after post Q2 results are released. ONB closed on Friday at $10.20.