Fitch Affirms and Withdraws Old National Bancorp's Ratings

CHICAGO--(BUSINESS WIRE)--Fitch Ratings has affirmed and withdrawn the ratings for Old National Bank (ONB) and its principal banking subsidiary Old National Bank, NA at 'BBB'. A full list of ratings follows at the end of this release.

Fitch notes that there has been no material change in ONB's credit risk profile since the bank's ratings were affirmed at the Community Bank Peer committee in October 2012. At the beginning of 2013, ONB announced that it will be purchasing 24 bank branches from Bank of America which will include $780 million in deposits and $8 million in loans. The deal is expected to close in 3Q'13. Fitch does not view this event as a primary rating driver.

Fitch is withdrawing ONB's ratings as the ratings are no longer relevant to Fitch's rating coverage.

Fitch has affirmed and withdrawn the following ratings:

Old National Bancorp

--Long-term IDR at 'BBB';

--Short-term IDR at 'F2';

--Viability Rating at 'bbb';

--Support Floor at 'NF';

--Support '5'

Old National Bank

--Long-term IDR at 'BBB';

--Short-Term IDR at 'F2';

--Long-term Deposit at 'BBB+';

--Short-Term Deposit 'F2';

--Viability Rating at 'bbb';

--Support Floor at 'NF';

--Support '5'.

St. Joseph Capital Trust I and II

--Preferred stock at 'BB-'.

Additional information is available at www.fitchratings.com. The ratings above were unsolicited and have been provided by Fitch as a service to investors.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria' (Aug. 15, 2012);

--'Rating FI Subsidiaries and Holding Companies' (Aug. 10, 2012);

--'Assessing and Rating Bank Subordinated and Hybrid Securities' (Dec. 5, 2012);

--'Fitch Takes Rating Actions On Its Community Bank Group Following Peer Review' (Oct. 17, 2012).

Applicable Criteria and Related Research:

Global Financial Institutions Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686181

Rating FI Subsidiaries and Holding Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679209

Assessing and Rating Bank Subordinated and Hybrid Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=695542

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