Old National Bank: The people’s choice
Old National Bank (ONB) was the winner of the first people’s choice award for innovation at last month’s US Awards in New York.
More than 3,500 votes were cast in total, both online and in a poll on the night, but the bank beat competition from six other companies – AMD, Idera Pharmaceuticals, Juniper Networks, Twitter, WWE and Zillow Group – to take home the coveted new trophy. But what made ONB stand out for fellow IROs?
‘Old National rewrote the rules for traditional investor/analyst conferences by inviting attendees to two popular and iconic locations in Ann Arbor, Michigan,’ wrote the company in its nomination form.
‘Rather than inviting attendees to meet on the East Coast or in Old National’s headquarters city of Evansville, Indiana for a traditional dog-and-pony show presentation by senior management, ONB’s investor relations team created a unique, innovative experience in Ann Arbor, Michigan – a market ONB entered in 2014 with the acquisition of United Bancorp.’
The event kicked off with a reception and dinner at Zingerman’s Deli, with a talk by Ari Weinzweig, co-founder of Zingerman’s Community of Businesses and author of A lapsed anarchist’s approach to building a great business. ‘[Weinzweig] was able to share with investors and analysts a unique perspective on what is was like to become an Old National client via an acquisition, and how the relationship has grown since that time,’ states ONB.
The following morning, the event moved to the University of Michigan’s football stadium – or The Big House – ‘for a day of frank, open conversation… designed as a dialogue rather than a data dump’. Attendees enjoyed discussions with ONB senior management members, panels comprising new ONB regional leaders from recent acquisitions or recently entered markets, and members of the company’s board.
They also got a tour of The Big House.
Clearly IR professionals at other companies liked the format, but what was the feedback from analysts and investors?
It’s been ‘entirely positive,’ says ONB, adding that several attendees told the IR team they ‘came away with a much richer and deeper understanding of ONB’s mission, vision and long-term growth strategy.’