As a result of this agreement, Integra Wealth Management & Trust clients will immediately be serviced by Old National Wealth Management team.
The transaction is subject to regulatory approval and other customary closing conditions and is expected to close by 1 July 2011.
Integra Bank chairman and CEO Mike Alley said that though disappointed to divest the wealth management and trust business, the bank believes this represents the best solution for the clients to ensure they continue to receive exceptional service and investment advice.
"The servicing greement will allow a smooth and timely transition as our two teams work together," Alley added.
Integra Bank has $2.4bn in total assets with 52 banking centers and 100 ATMs at locations in Indiana, Kentucky, and Illinois.
