How Old National Bank Kept Its Local Bank Feel While Pursuing Billion-Dollar Growth

In the world of financial services, Old National Bank occupies an enviable position. Once a community bank with humble roots in Evansville, Indiana, a string of successful partnerships helped make Old National the sixth-largest commercial bank in the Midwest. Yet despite its size, Old National manages to maintain the atmosphere of a small, local community institution.

“We're in this Goldilocks spot where we have all the products and services of a large bank, but we can still operate like a local community bank,” explained Chady M. AlAhmar, the chief executive officer of wealth management at Old National. “We put the human side first.”

However, that human-first mission has been tested in recent years. Like banks across the industry, Old National’s wealth management and banking functions had been historically siloed. That siloed model grew increasingly outdated amid evolving client expectations. Many sought holistic services that covered everything from credit cards to mortgage refinancing to investing to retirement services.

“Most people were now saying, ‘Can I have somebody who can help me with all my finances? I want them to be at a one-stop advisory place,’” AlAhmar said. “And that clashed with the cultures of wealth management and pure banking.”

To meet clients’ needs, maintain its signature personal touch, and do all of this at scale, Old National Bank would undergo a major transformation under Jim Ryan, Chairman and CEO of Old National. The transformation of Wealth Management, a critical line of business at Old National, was one that AlAhmar was poised to lead.

AlAhmar, who joined Old National in 2020, was uniquely qualified for the challenge thanks to a combination of skill and experience. For one thing, he was no stranger to complex problems. He’s a native of Lebanon, where, as he explained, children who excelled at school were expected to become either doctors or engineers. AlAhmar chose the latter, learning methodical approaches to problem-solving during his engineering career. Years later, after AlAhmar moved to France to pursue his graduate studies in business (which then led him to the financial services space), he took part in the transformation of client service at one of the largest banks in the United States.

And, along with his own strengths and background, AlAhmar could rely on the support of a powerful partner: LPL Financial.

Consistent Strategy and Support Empower Effective Teamwork

Old National had a longstanding relationship with LPL. For years, LPL had powered its investment platform under the leadership of Ken Ellspermann, president of Old National Investments. As a result, Old National advisors enjoyed access to state-of-the-art technology, extensive investment research, and a wide array of products.

These capabilities would prove more important than ever as AlAhmar and his team embarked on a painstaking initiative to break down siloes, rebrand client segments, and expand services to meet clients’ growing expectations. Day after day, week after week, they worked with private bankers and wealth advisors to help them form collaborative teams to serve clients. They helped them expand those teams to include other experts such as dedicated trust officers, portfolio managers, business bankers, and loan officers working to meet clients’ unique needs.

Making such radical change happen, AlAhmar recalled, required patience and consistency. “You have to say what you want to do … and then say it again and again. Repeat it on every employee call. Say, ‘This is what we're going to do, and we’re committed to our long-term strategy,’” he said. “Consistency disarms even skeptics. Eventually, everybody realized that we were serious about teaming and collaboration.”

Having LPL by their side helped significantly. Since LPL’s own investment and wealth planning teams took care of the basics, such as advisor scorecards and the mechanics of investing, private bankers and advisors could focus on working together to optimize client experiences.

“When we’re trying to have advisors work with a private banker in a seamless manner, the last thing I want to worry about is, ‘Can they do their job?’” AlAhmar explained. “With LPL on the investment side, we can focus more on client experience. That’s been powerful.”

With its $360M+ annual investments in technology, LPL also ensured that Old National bankers and advisors would continue to have advanced tools and platforms at their fingertips. LPL specialists helped Old National integrate eMoney, an industry-leading wealth planning software, while also enabling it to keep pace with advances in mobile banking, artificial intelligence, and more.

With LPL supporting its technology stack, Old National could further reinforce its focus on holistic client service. “Having a partner at the forefront of technology means we don’t have to carry the burden all ourselves,” AlAhmar said. And with that burden lifted, Old National’s brand could shine even brighter – resonating authentically in the communities they serve, where their commitment to service is not just seen but felt.

Working Better, Together

The teamwork-focused transformation at Old National has come to bear fruit. As one advisor recently told AlAhmar: “You changed my mindset. You helped me see how doing business as a team was much more beneficial.”

LPL Financial maintained its consistent, reliable support for the transformation, providing tools, services, and ongoing consultation to help Old National’s growing teams collaborate to better serve clients.

Now, LPL is helping Old National tackle a new challenge: Integrating its latest major acquisition, Bremer Financial Corporation. The $1.4 billion deal, completed in May 2025, makes Old National the third-largest bank in the Minneapolis-St. Paul market by deposits, and a top local bank. The acquisition will bring 70 new branches and more than 1,000 new people into the Old National fold.

As with any major consolidation, Old National undertook rigorous due diligence to determine whether to continue its LPL relationship or to switch gears and work with other broker-dealers instead.

The bank chose LPL.

AlAhmar said that the LPL team proved themselves with key differentiators, including demonstrating a full understanding of Old National’s complete business model, brand, and client experience. “They showed their value as trusted partners time and time again, being receptive, listening thoroughly, and adjusting strategies and services as necessary. And they presented a strong and long-term technology roadmap. We decided to secure our future with a partner that could keep up with us and run double that speed,” AlAhmar said. “LPL came out on top.”

While Old National expands its upper Midwest footprint through the Bremer acquisition, the combination of the bank’s respected brand and LPL relationship is paving the way for continued success. “We partner with the best out there, including LPL,” AlAhmar said. “We have everything that other banks have. But on top of that, we're going to always be there for our clients and team members. And that's what resonates in our communities.”