Old National Bank planning to keep Greencastle presence

Old National Bank, with banking roots in Greencastle that go back as far as 1863, isn’t going anywhere, bank officials assure.

Despite rumors that Old National might be poised to sever ties with the community, the bank is looking to “refresh” its downtown presence, Region CEO Dan Doan told the Banner Graphic this week.

Doan said bank officials have heard the rumors, and believe they may have something to do with the closing of the Indianapolis Road branch bank that occurred early last year.

But that move, executed 18 months ago now, “was an efficiency move,” Doan said, as Old National consolidated two offices into one.

That was necessary, he said, because bank customers are becoming more and more reliant on mobile banking from their smart phones and computers than they are visiting their local bank in person.

“The banking industry in general has become less dependent on bricks and mortar,” Doan said, adding that the younger generation in particular is more confident using mobile banking means for their financial needs.

While that is true, Doan concedes that Old National is looking at its options, and its sprawling downtown building might be put up for sale should that be the direction the bank decides to take.

Old National could also look at “a refreshed office downtown,” Doan said.

“We could do something with the existing site or do something else within the downtown,” he said. “Most of all we need to stay close to downtown and the university.”

All that, however, remains undetermined at this point.

“No. 1,” Doan elaborated, “we are committed to staying in Greencastle.

“Greencastle is a very valuable market for us ... it’s one of the largest banking centers within our system.”

Doan was president of First Citizens Bank, the predecessor of Old National, from 1977-91 and then returned 1995-98.

Old National acquired First Citizens in November 1999.

With his office currently in Terre Haute, Doan coincidentally reports directly to Old National Bancorp Chief Operating Officer Jim Sandgren, who also cut his banking teeth at First Citizens.

“It’s been fun for us to talk about our Greencastle days,” Doan said with a decided pep in his voice.

“My heart’s always been in Greencastle.”