News From Terre Haute, Indiana

June 1, 2014

Business briefs: June 1, 2014


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---- — Business briefs

Terre Haute

Event welcomes Indy lawyer

Lunch with a Lawyer will welcome attorney Christopher Purnell of Neighborhood Christian Legal Clinic in Indianapolis to its next event from 11:30 a.m. to 1 p.m. June 16 at Wabash Senior Activity Center, 300 S. Fifth St.

Purnell received a bachelor’s degree in both English and history from Indiana State University in 2005. Immediately after graduating, he attended the Indiana University School of Law-Indianapolis, where he was a note development editor for the Indiana Law Review from 2007-2008. After sitting for the Indiana Bar in July of 2008, he was hired as a staff attorney with the Neighborhood Christian Legal Clinic, a faith-based legal services organization that serves low-income individuals in the Indianapolis area on a pro bono basis. Purnell focused on the areas of landlord-tenant relations, collections, housing and mortgage foreclosure defense law until January 2010, when he was promoted to managing attorney.

A brief question-and-answer period will follow his presentation. Lunch will be provided courtesy of Cloverleaf Healthcare of Knightsville.

Space is limited and reservations are required. Call 812-232-7575.

Terre Haute

Old National reports income

Old National Bancorp reported first quarter net income of $26.5 million, or $.26 per share for 2014. These results represent an 8.3 percent increase over the earnings per share of $.24 reported in the first quarter of 2013 and a 4 percent increase over the earnings per share of $.25 in the fourth quarter of 2013.

Old National Bancorp’s Board of Directors declared a quarterly cash dividend of $.11 per share on the company’s outstanding shares. This dividend is payable June 16, 2014, to shareholders of record on June 2, 2014. For purposes of broker trading, the ex-date of the cash dividend is May 29, 2014.

In addition, Old National closed on its partnership with Tower Financial Corp., headquartered in Fort Wayne, on April 25. All Tower banking centers were converted to Old National banking centers.

Total investments, including money market accounts, increased $14 million to $3.2 billion, from $3.1 billion at Dec. 31, 2013. On average, total investments, including money market accounts, decreased $48.7 million, from $3.255 billion at December 31, 2013, to $3.2 billion March 31, 2014.

Old National reported net interest income of $83.5 million compared to $81.2 million in the fourth quarter of 2013, and $79.0 million in the first quarter of 2013.