FORT WAYNE, Ind. (WANE) – Old National Bancorp is terminating 41 employees in Fort Wayne. The job losses are the result of a recent acquisition of Tower Financial Corporation.
The company filed a WARN notice with the Indiana Department of Workforce Development last week.
Old National Bancorp said the merger with Tower Financial will result in permanent job losses for employees at the downtown Fort Wayne office inside Lincoln Tower. The affected employees were notified in Dec. 2013 and separations are expected to begin May 16.
Employees who will lose their jobs are being provided with job search skills workshops and personal coaching. Old National Bancorp is also providing assistance through WorkOne Northeast.
The two companies announced the merger in September 2013.
At the time of the $108 million announcement, Tower Bank employed more than 150 people in Fort Wayne across six branches.
Old National Bancorp is headquartered in Evansville and has acquired several banks in recent years. It has close to 200 branches throughout Indiana and surrounding states.