Butler, Old National Partner to Support Businesses Owned by Underrepresented Groups

Evansville & Indianapolis, Ind. (August 12, 2020) – The Old National Bank Center for Business Excellence—a partnership between Butler University and Old National Bank—is proud to announce an initiative geared toward strengthening and supporting businesses owned by underrepresented groups throughout Indiana.

The Old National Bank Center for Business Excellence at Butler University (ONB Center), which was established to connect privately held companies with the resources and support they need to succeed, will waive its annual membership fee of $1,000 for the first year for companies that meet the following criteria:

  • Privately held companies, headquartered in Indiana, with majority ownership (51% or more) by an underrepresented population. This includes the following business owner categories: all people of color; women; LGBTQ+ individuals; veterans; and individuals with disabilities
  • Annual revenues between $1 million and $50 million. Companies with revenues less than $1 million will be referred to the Small Business Development Center to better match needs and resources.


This initiative was born out of a conversation between Mark McFatridge, Executive Director for the ONB Center, and Butler student Victor Aguilar, an intern at the Center. Shortly after the death of George Floyd in Minneapolis, Aguilar approached McFatridge to ask whether the ONB Center would be issuing a public statement related to the situation.

“It was simply a question to see if we were going to release anything official, and that sparked the development of this program,” explained Aguilar. “I never imagined this outcome.”

“It’s no surprise that this initiative was sparked by the social consciousness and passion of one of our Butler students,” said Butler President James Danko. “Furthermore, I applaud the ONB Center’s executive director, Mark McFatridge, for his efforts to foster such student leaders as well as an innovative and socially responsible initiative such as this. Victor, Mark, Old National Bank, and our partners are among many throughout the University who are working diligently to live Butler’s mission both on our campus and in the community.”

Old National Chairman and CEO Jim Ryan said this initiative is a logical extension of the ongoing partnership between Old National and Butler.

“This is absolutely the right thing to do to support Indiana’s underrepresented business owners and the clients they serve,” said Ryan. “We are incredibly proud to partner with Butler on this program.”


Phased Program Roll-out

To ensure that the ONB Center can appropriately service the potential demand, the initiative will be rolled out in phases. However, demand from business owners may cause the Center to adjust these dates.

  • Phase One (August 12, 2020 – July 31, 2021): focus on Black-owned businesses in Marion County
  • Phase Two (January 1, 2021 – December 31, 2021): focus on all businesses owned by people of color and headquartered in Indiana
  • Phase Three (July 1, 2022 – June 30, 2022): focus on women- and LGBTQ+-owned businesses headquartered in Indiana
  • Phase Four (January 1, 2022 – December 31, 2022): focus on businesses headquartered in Indiana and owned by veterans or individuals with disabilities


Upon registering for the initiative here, ONB Center member companies will receive the following:


Old National Bank Center for Business Excellence – Official Statement Condemning Racism While Providing Assistance
The Old National Bank Center for Business Excellence is a partnership between Butler University and Old National Bank, two of Indiana’s longest-standing and most respected institutions. The partnership was established to assist privately held companies in achieving their goals. This assistance is based on connecting member companies to resources necessary to achieve those goals. 

While the ONB Center does not discriminate in who we serve, we have not placed the appropriate focus and attention on seeking out member companies owned or managed by the underrepresented populations that help make Indianapolis and the state of Indiana great.

Butler University and Old National Bank condemn racism and hold the fundamental belief that our respective services should be available to all—regardless of race, gender, religion, ability, or sexual orientation.


Butler University is a nationally recognized comprehensive university encompassing six colleges: Arts, Business, Communication, Education, Liberal Arts & Sciences, and Pharmacy & Health Sciences. Approximately 4,600 undergraduate and 800 graduate students are enrolled at Butler, representing 45 states and 30 countries. More than 75 percent of Butler students will participate in some form of internship, and Butler students have had significant success after graduation, as demonstrated by the University’s 98 percent placement rate within six months of graduation. The University was recently listed as the No. 1 regional university in the Midwest, according to the U.S. News & World Report Best Colleges Rankings, in addition to being included in The Princeton Review’s annual “best colleges” guidebook.


Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest bank holding company headquartered in Indiana. With $22.1 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for nine consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships and keeping our clients at the center of all we do. This is an approach to business that we call The ONB Way. Today, Old National’s footprint includes Indiana, Kentucky, Michigan, Wisconsin and Minnesota. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment, and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.


Media Contact:
Katie Grieze
News Content Manager



Old National Bank Center for Business Excellence
Diversity, Equity & Inclusion Initiative
Frequently Asked Questions


What is the overriding goal of the ONB Center’s Diversity, Equity & Inclusion initiative?
Our goal is to play a role in reducing the wealth gap of underrepresented groups.


How can the ONB Center accomplish that goal?
The ONB Center’s mission is to help privately held companies be successful.  With a more intentional focus on recruiting Member companies from underrepresented groups, we believe that those Members will continue to grow in size and profitability which will yield higher wages and more investment in underrepresented markets.  Higher wages lead to opportunities for investments in education, housing and stock ownership (either public or private firms), all are keys to reducing the wealth gap.


How does the ONB Center help privately held companies be successful?
The core of the ONB Center is the Member assessment.  The assessment is a survey that focuses on the following areas of each company:

  • Organization Structure
  • Accounting & Financial Reporting
  • Compensation & Benefits
  • Human Capital
  • Talent
  • Legal
  • Capitalization & Financing
  • Risk & Insurance
  • Information Technology
  • Sales
  • Marketing
  • Mergers & Acquisitions
  • Competitors
  • Long Term Goals


By better understanding these elements of each Member company, we are able to offer observations to help them achieve their definition of success.  Additionally, we are able to make connections with Accredited Partners that can provide insight and assistance in achieving success.

The ONB Center Members also benefit from peer interaction.  This interaction comes in a variety of ways from Executive Forums, Peer Happy Hours, our monthly eNewsletter – The Connection, our peer to peer platform – The Hub and other educational events and resources.


What are Accredited Partners?
Accredited Partners are experts in their field that have been vetted by the ONB Center to ensure that they provide excellent work and service for our Member companies.  Our Accredited Partners fall into one of twelve categories:

Risk & Insurance
Benefits & Compensation
Capital Acquisition
Information Technology
Human Capital
Operational Consulting


Who are your Accredited Partners?
Old National Bank
Katz, Sapper Miller
Donovan CPAs
Krieg DeVault
Green Loop Marketing
Bose McKinney & Evans
The Catalyst Effect
First Person
Impact Financial Group
The Mako Group
MJ Insurance
Spry Brands
Leaf Software
Media Fuel
Valve & Meter
Wilcox & Associates
Ambassador Enterprises
Little Engine Ventures
Edge Business Strategies
Crossroads Business Solutions
Promethius Consulting
Indiana Business Advisors
WestPoint Financial Group


How are your Accredited Partners involved in the ONB Center Diversity, Equity & Inclusion initiative?
Each of our Accredited Partners have identified ways in which they can provide additional benefits to our newest Members.  Some of these benefits can be reflected in reduced pricing, counseling or contributions that will have a lasting effect on closing the existing wealth gap for underrepresented groups.


Who else is partnering with the ONB Center on this initiative?
The Indiana Small Business Development Center (SBDC) has committed $150,000 in funding to assist our newest Members with accessing resources from our Accredited Partners.  Additionally, the SBDC will provide resources to companies with annual revenues less than $1 million or entrepreneurs who are interested in starting up a company.

Mid States Minority Supplier Development Council (Mid-States MSDC) certifies, develops, connects and advocates minority-owned companies.  MSMSDC will offer our newest Member companies free membership and serves as a referral source to identify Members and Accredited Partners for the ONB Center. Recently, Old National announced a partnership with MSMSDC and Bankable that provides unique, flexible financing solutions and business development resources to MSMSDC-certified Minority Business Enterprises within Indiana. Old National is providing $50,000 in funding to launch the partnership with an emphasis on broadening economic development and financial empowerment initiatives among diverse businesses and geographies.

Indy Black Chamber of Commerce advocates for Black-owned businesses in central Indiana.  The Indy Black Chamber has offered our newest Member companies free membership and serves as a referral source to identify Members and Accredited Partners for the ONB Center.

Bankable is a nonprofit lender that provides access to capital, financial education and economic resources to build healthy small businesses.

Conscious Capitalism Indianapolis (CCI) helps companies grow by producing positive results in performance, in their associates’ engagement, and in their communities.  CCI has offered our newest Member companies to join as Future Champions at no cost for their first year and serves as a referral source to identify Members and Accredited Partners for the ONB Center.

Indianapolis Chamber of Commerce empowers business to ensure all have the opportunity to succeed in the Indianapolis region.  The Indy Chamber provides access for our Members to capital, peer networking and other economic development initiatives and serves as a referral source to identify Members and Accredited Partners for the ONB Center.

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