On February 15, 2022, First Midwest completed its previously announced merger of equals transaction with Old National pursuant to the Merger Agreement. On the Closing Date, First Midwest and Old National merged, with Old National continuing as the surviving corporation. Upon closing of the Merger, the separate existence of First Midwest ceased.

At the Effective Time, Michael L. Scudder, the former Chairman of the Board and Chief Executive Officer of First Midwest, was appointed as Executive Chairman of the Board of Directors of Old National. In addition, at the Effective Time, Mark G. Sander, the former President and Chief Operating Officer of First Midwest, was appointed as the President and Chief Operating Officer of Old National. In accordance with the Merger Agreement, the board of directors of Old National amended Old National's By-Laws, effective at the Effective Time, among other things, to expand the size of the board of Old National to sixteen (16) persons.

The following individuals, each of whom was a member of the board of directors of First Midwest immediately prior to the consummation of the Merger, were elected to the board of directors of Old National: Barbara A. Boigegrain, Thomas L. Brown, Kathryn J. Hayley, Peter J. Henseler, Ellen A. Rudnick, Michael L. Scudder, Michael J. Small, and Stephen C. Van Arsdell (collectively, the New Directors).