Old National Bancorp competitors
and the alternatives

Last updated Oct 20, 2026 · 8 peers · 56 sources cited

Who are Old National Bancorp's competitors, and what are the alternatives?

Old National's 2025 10-K, filed February 19, 2026, names its competitors as commercial banks, savings and loans, credit unions, mortgage firms, fintech companies, consumer finance companies, brokers, insurers, money market funds, and private equity and debt funds, and says many are larger with substantially greater resources. It ran 346 banking centers at the end of 2025, mainly across Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, North Carolina, North Dakota, Tennessee and Wisconsin, and called itself the sixth largest Midwestern-headquartered bank in the 10-K and the fifth largest commercial bank headquartered in the Midwest by May 2026. Its rivals change by state. In Chicago and Wisconsin: Wintrust, with 209 banking locations, and Associated, with 184 branches in Wisconsin, Illinois, Minnesota and Missouri. In Indiana and Michigan: First Merchants, which bought southern Indiana's First Savings, and Huntington, with more than 1,000 branches in 14 states. In Minnesota, which Old National entered by buying Bremer in 2025: U.S. Bank, headquartered in Minneapolis, and Bell Bank, which Old National accused in December 2025 of orchestrating a mass resignation of former Bremer bankers. Busey competes in Illinois. The non-bank rivals sit in two places named in the 10-K: fintechs such as Chime, with 10.4 million active members, and private equity and debt funds in commercial lending.[1][2][3][4][5][6][7][8][9][10][11]

Data as of Oct 20, 2026 · Old National profile updated Oct 19, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown

What does Old National say about its competition?

"The banking industry and related financial service providers operate in a highly competitive market. Old National competes with financial service providers such as other commercial banks, savings and loan associations, credit unions, mortgage banking firms, financial technology, or 'FinTech,' companies, consumer finance companies, securities brokerage firms, insurance companies, money market mutual funds, private equity and debt funds, and other financial services providers."[1]

"Many of our competitors are financial institutions that are larger than we are and have substantially greater resources than we do. Some of our nonfinancial institution competitors may have fewer regulatory constraints, broader geographic service areas, greater capital, and, in some cases, lower cost structures. In addition, competition for clients has intensified as a result of changes in regulation, mergers and acquisitions, advances in technology and product delivery systems, and consolidation among financial service providers." (2025 Form 10-K, filed February 19, 2026.)[1]

From the business description of the same 10-K: Old National Bank "operated 346 banking centers located primarily throughout the Midwestern and Southeastern United States, including Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, North Carolina, North Dakota, Tennessee, and Wisconsin", and Old National "is the sixth largest Midwestern-headquartered bank by asset size with consolidated assets of $72.2 billion at December 31, 2025".[1]

Who competes with Old National in each of its businesses?

Business lineCompetitorTypeWhy it competes
Home region: the Midwest, Nashville and the CarolinasWintrust FinancialBankWintrust serves the Chicago metropolitan area, southern Wisconsin, northwest Indiana and west Michigan through 16 community banks and 209 banking locations (December 31, 2025); Old National keeps a co-headquarters in Chicago, and Wintrust sits in Old National's 2026 proxy peer group.[3][12]
Home region: the Midwest, Nashville and the CarolinasAssociated Banc-CorpBankAssociated operated 184 branches in Wisconsin, Illinois, Minnesota and Missouri at December 31, 2025, three of them Old National states, and is a member of Old National's 2026 proxy peer group.[4][12]
Home region: the Midwest, Nashville and the CarolinasHuntington BancsharesBankHuntington operated more than 1,000 branches in 14 states at December 31, 2025, with $1.9 billion of commercial real estate loans in Michigan, an Old National state.[6]
Home region: the Midwest, Nashville and the CarolinasFirst MerchantsBankMuncie-based First Merchants operates in Indiana, Ohio and Michigan counties and bought First Savings, with 16 banking centers in southern Indiana; its 10-K names national, regional and internet banks as its main competitors. Old National is headquartered in Evansville, Indiana.[5][1]
Home region: the Midwest, Nashville and the CarolinasFirst BuseyBankBusey Bank has 79 banking centers, 50 of them in Illinois, Old National's co-headquarters state.[10]
Home region: the Midwest, Nashville and the CarolinasPinnacle Financial PartnersBankOld National's 2024 purchase of CapStar strengthened its Nashville presence; Nashville-based Pinnacle merged with Synovus on January 1, 2026 into a bank with 400-plus locations in nine states, and Pinnacle sits in Old National's 2026 proxy peer group.[1][13][12]
Home region: the Midwest, Nashville and the CarolinasF.N.B. CorporationBankF.N.B., a member of Old National's 2026 proxy peer group, has 355 community-banking branches in seven states and DC, including Charlotte, Raleigh, Durham and the Piedmont Triad in North Carolina, an Old National state.[14][12][1]
Commercial banking and bankers in Minnesota and the DakotasU.S. BancorpBankMinneapolis-based U.S. Bank has more than 2,000 branches in 26 states; Old National's $1.4 billion Bremer deal added 70 branches in Minnesota, North Dakota and Wisconsin in 2025.[15][7]
Commercial banking and bankers in Minnesota and the DakotasBell BankBankOld National sued Bell Bank in December 2025, accusing it of an orchestrated mass resignation of senior bankers in former Bremer markets, the clearest case on the record of a rival bidding for its commercial relationships.[9]
Commercial banking and bankers in Minnesota and the DakotasPrivate equity and debt fundsNon-bank lenderOld National's 10-K names private equity and debt funds among its competitors and says some nonfinancial competitors have fewer regulatory constraints and lower cost structures; commercial and commercial real estate loans were 57% of its earning assets at the end of 2025.[1]
Retail deposits and digital bankingJPMorgan ChaseBankOne of the larger competitors with substantially greater resources that Old National's 10-K describes; Chase reported 74.6 million active digital customers and 5,083 branches in 2025.[1][16]
Retail deposits and digital bankingChimeFintechOld National's 10-K names FinTech companies among its competitors; Chime's 10-K claims a significant cost advantage over traditional banks, and it had 10.4 million active members at June 30, 2026.[1][17][11]
Retail deposits and digital bankingCredit unionsCredit unionOld National's 10-K names credit unions among its competitors.[1]
Small business and paymentsSquare (Block)Payments companyBlock's 10-K lists banks that provide payment processing, checking, savings, loans and payroll among Square's competitors; Old National's 10-K names fintechs among its own.[18][1]
Small business and paymentsBank of AmericaBankBank of America calls itself the number one small business lender in the US, citing FDIC data, and serves 4 million small businesses, the national scale Old National's 10-K describes in larger competitors.[19][1]

How do the AI and digital offerings of Old National's competitors compare?

Old National first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.

CompanyAI or digital offeringOn the record (our profiles)Latest dated AI move
Old National Bancorp (this page)Vendor-delivered automation on an acquisition-built bank[20][21][22][23]Index 66 (#40); 14 use cases, 10 in productionQ2 2026 10-Q has no AI language (Jul 29, 2026)[24][25][26]
Wintrust FinancialAI credit adjudication in specialty finance: 4,000+ deals in the first half of 2026[27]Index 38.1 (#76); 9 use cases, 7 in productionEquipment-finance unit writes on financing the AI boom (Sep 8, 2026)[28]
Associated Banc-Corp30 AI use cases in process; a head of AI for commercial banking (September 2026)[29]Index 56.8 (#49); 11 use cases, 4 in productionBarclays conference: 30 AI use cases in process (Sep 15, 2026)[29]
Huntington Bancshares50 AI agents in production and AI-priced deposits across 56 rate regions[30][31]Index 84.2 (#13); 17 use cases, 15 in productionNamed a Coverbase enterprise customer (Sep 29, 2026)[32]
First MerchantsNot disclosedIndex 29.8 (#88); 11 use cases, 9 in productionCEO succession: Stewart to replace Hardwick on 1 January 2027 (Oct 1, 2026)[33][34]
First BuseyA first director of AI, data science and insights (April 2026)[35]Index 44.9 (#64); 13 use cases, 10 in productionQ2 2026 10-Q: AI named in forward-looking risks; headcount and data processing (Aug 6, 2026)[36]
Pinnacle Financial PartnersA head of AI and almost 20 AI engineers; ChatPFP answered 18,000 banker questions[37][38][39]Index 65.3 (#42); 12 use cases, 9 in productionChief digital officer: 200,000-plus customers move to a new app in March 2027 (Oct 1, 2026)[40]
F.N.B. Corporation10 AI-enabled fraud tools (November 2025)[41]Index 60.2 (#47); 15 use cases, 9 in production16th for customer reputation (Aug 17, 2026)[42]
U.S. BancorpSmart Assistant by text and voice; mobile banking ranked first by Keynova[43]Index 81.3 (#18); 18 use cases, 16 in productionVenkatachari: from proving AI to industrializing it (Oct 7, 2026)[44]
Bell BankNot disclosedNo profileNot disclosed
Private equity and debt fundsNot disclosedNo profileNot disclosed
JPMorgan ChaseSmart Cash AI cash tool in a targeted pilot (October 2026)[45]Index 89 (#6); 15 use cases, 8 in productionQ3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026)[46][45][47]
ChimeJade, an in-app AI financial partner available to some members[48]8 use cases, 6 in productionAgreement to acquire Stride Bank (Sep 8, 2026)[49]
Credit unionsNot disclosedNo profileNot disclosed
Square (Block)Managerbot, an AI business agent for Square sellers[50]7 use cases, 6 in productionQ2 2026: Moneybot passes 1 million weekly engaged accounts (Aug 5, 2026)[51]
Bank of AmericaErica virtual assistant: more than 24.6 million clients helped[19]Index 97.3 (#1); 18 use cases, 16 in productionTreasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties (Oct 13, 2026)[52][53][54]

Who should look beyond Old National, and where?

If you areLook atWhy
Customers who want an AI assistant in the banking appU.S. Bank (Smart Assistant) or Bank of America (Erica)Old National discloses no customer AI assistant. U.S. Bank's Smart Assistant works by text and voice, and Erica helps more than 24.6 million clients.[55][43][19]
People who need branches outside the Midwest and SoutheastJPMorgan Chase or U.S. BankOld National's 346 banking centers are mainly in ten Midwestern and Southeastern states. Chase reported 5,083 branches in 2025, and U.S. Bank has more than 2,000 in 26 states.[1][16][15]
Chicago-area customers who prefer a locally branded community bankWintrustWintrust runs 16 separately chartered community banks with 209 banking locations across the Chicago area, southern Wisconsin, northwest Indiana and west Michigan. Old National operates as one bank brand.[3][1]
Customers who want a branchless, app-only checking accountChimeOld National is a branch-based bank. Chime's model avoids branches, it had 10.4 million active members at June 30, 2026, and some members can use Jade, its in-app AI financial partner.[1][11][48]
Customers in Nashville who want a bank headquartered therePinnacle Financial PartnersOld National is headquartered in Evansville, Indiana, with a Chicago co-headquarters, and entered Nashville by buying CapStar in 2024. Pinnacle is headquartered in Nashville and has 400-plus locations in nine states after its Synovus merger.[1][13]
Borrowers who want a bank with an agentic-AI program already at scaleHuntingtonHuntington had 50 AI agents in production and more than 60 in development by April 2026 and uses AI to price deposits across 56 rate regions. Old National's AI is vendor-delivered and governance-led so far.[30][31][55]

How does Old National's branch network compare with its Midwest rivals'?

Branch counts as each bank reports them in its 2025 10-K.

BankBranchesWhereAs of
Old National346 banking centersIllinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, North Carolina, North Dakota, Tennessee, WisconsinDecember 31, 2025[1]
HuntingtonMore than 1,000 branches14 statesDecember 31, 2025[6]
Wintrust209 banking locationsChicago area, southern Wisconsin, northwest Indiana, west MichiganDecember 31, 2025[3]
Associated184 branchesWisconsin, Illinois, Minnesota, MissouriDecember 31, 2025[4]
Busey79 banking centers (50 in Illinois)10 statesDecember 31, 2025[10]
U.S. BancorpMore than 2,000 branches26 statesNovember 2025[15]

What AI do Old National's main rivals have on the record?

One line per rival, from its own profile.

RivalAI on the recordDate
Huntington50 AI agents in production; AI deposit pricingApril and July 2026[30][31]
U.S. BancorpSmart Assistant by text and voiceSeptember 2026[43]
Associated30 AI use cases in processSeptember 2026[29]
WintrustAI credit adjudication in specialty financeJune 2026[27]
Old NationalAI Center of Excellence; vendor AI in loan review and disputesJanuary to July 2026[55][56][20]

Who are Old National's biggest competitors?

By market: Wintrust and Associated in Chicago and Wisconsin, Huntington and First Merchants in Indiana and Michigan, U.S. Bank and Bell Bank in Minnesota, and Busey in Illinois, plus the national banks. Old National's 10-K also names credit unions, fintechs and private equity and debt funds.[3][4][6][5][15][9][10][1]

Why did Old National sue Bell Bank?

In December 2025 Old National accused Bell Bank of a 'coup d'état': an orchestrated mass resignation of senior bankers from former Bremer markets, which Old National entered with its $1.4 billion Bremer deal in 2025. It is the most direct competitive clash on the record.[9][7]

Is Associated Banc-Corp a competitor of Old National?

Yes. Associated operated 184 branches in Wisconsin, Illinois, Minnesota and Missouri at the end of 2025, three of them Old National states, and sits in Old National's 2026 proxy peer group. On AI, Associated reported 30 use cases in process and a head of AI for commercial banking in September 2026.[4][12][29]

Who competes with Old National in commercial and industrial banking?

Old National's 10-K names larger banks and private equity and debt funds; in May 2026 it hired a new C&I president from a major US bank in Chicago to lead C&I, agribusiness and SBA lending. Commercial and commercial real estate loans were 57% of its earning assets at the end of 2025.[1][2]

Is Wintrust a competitor of Old National?

Yes, in the Chicago area, where Old National has a co-headquarters. Wintrust runs 209 banking locations across the Chicago metro, southern Wisconsin, northwest Indiana and west Michigan and is a member of Old National's 2026 proxy peer group.[3][12]

Who competes with Old National in Minnesota?

U.S. Bank, headquartered in Minneapolis with more than 2,000 branches in 26 states; Associated, with branches in Minnesota; and Bell Bank, which Old National accused of poaching former Bremer bankers. Old National entered Minnesota and North Dakota through the 2025 Bremer acquisition.[15][4][9][7]

Is Chime a competitor of Old National?

By category, yes. Old National's 10-K names fintech companies among its competitors, and Chime's 10-K claims a cost advantage over traditional banks. Chime had 10.4 million active members at June 30, 2026. Neither company names the other.[1][17][11]

Who competes with Old National in Nashville and North Carolina?

In Nashville, Pinnacle, which merged with Synovus in January 2026 and has 400-plus locations in nine states; Old National strengthened its Nashville presence by buying CapStar in 2024. In North Carolina, F.N.B., with branches in Charlotte, Raleigh, Durham and the Piedmont Triad. Both sit in Old National's 2026 proxy peer group.[13][1][14][12]

Is Huntington a competitor of Old National?

Yes, in the Midwest. Huntington operated more than 1,000 branches in 14 states at the end of 2025 and has a large Michigan commercial real estate book; Old National operates in Michigan, Indiana and other Midwest states. On AI, Huntington reports 50 agents in production; Old National's AI is vendor-delivered.[6][1][30]

What are alternatives to Old National for small business banking?

Bank of America calls itself the number one US small business lender (FDIC data), serving 4 million small businesses, and Square sells payments, software and banking to sellers. Among Midwest regionals, Associated, Wintrust and Huntington compete for the same clients.[19][18][4][3][6]

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    Old National Bancorp (SEC filings) · Feb 19, 2026
  2. Shane Print Joins Old National as President of Commercial & Industrial Banking
    Old National Bancorp · May 28, 2026
  3. Wintrust Financial Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    Wintrust Financial Corporation (SEC filings) · Feb 26, 2026
  4. Associated Banc-Corp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    Associated Banc-Corp (SEC filings) · Feb 12, 2026
  5. First Merchants Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    First Merchants Corporation (SEC filings) · Feb 25, 2026
  6. Huntington Bancshares Annual Report on Form 10-K for 2025
    Huntington Bancshares (SEC filing) · Feb 13, 2026
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    American Banker · Jan 21, 2025
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    U.S. Bancorp via SEC EDGAR · Feb 23, 2026
  9. Old National accuses Bell Bank of 'coup d'état'
    Banking Dive · Dec 18, 2025
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    First Busey Corporation (SEC filings) · Feb 26, 2026
  11. Chime Reports Second Quarter 2026 Financial Results
    Chime · Aug 5, 2026
  12. Old National Bancorp 2026 Proxy Statement (DEF 14A)
    Old National Bancorp (SEC filings) · Apr 2, 2026
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    Pinnacle Financial Partners · Jan 2, 2026
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    F.N.B. Corporation (SEC filings) · Feb 24, 2026
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    The Wall Street Journal (partner content) · Nov 21, 2025
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    JPMorgan Chase & Co. (SEC filings) · Feb 13, 2026
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    Chime via SEC EDGAR · Mar 6, 2026
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    Block, Inc. via SEC EDGAR · Feb 26, 2026
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    Bank of America Newsroom · Oct 19, 2026
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    Old National Bancorp · Jan 22, 2026
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    GlobeNewswire via FT Markets · Feb 10, 2026
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    Old National Bank · Apr 11, 2025
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    Old National Bank · May 26, 2026
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    Old National Bancorp (SEC filings) · Jul 29, 2026
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    Old National Bancorp (SEC filings) · Apr 29, 2026
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    Old National Bancorp · Jul 22, 2026
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    Chime · Sep 23, 2026
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    Banking Dive · Oct 13, 2026
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    Old National Bank · May 19, 2026
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