Add Thomas Prahm to the long list of bankers who will change jobs after a big merger.
Pram, who spent ten years at First Midwest Bancorp in Chicago before closing Merger of equals for $2.5 billion of the $45.7 billion Old National Bancorp in Evansville, Ind., was named CEO of the combined community banking company in February. He stayed for six months.
Michigan City, Ind.-based $7.6 billion-asset Horizon Bancorp named Prame president of the holding company and its subsidiary, Horizon Bank. Prame will be responsible for loan team recruitment and expansion of Horizon’s deposit base, as well as customer relationship and technology management. Prame succeeds James Neff, a 22-year Horizon veteran who stepped down as president of the company and its bank subsidiary in March.
“I am inspired by the culture the bank has created,” Prame said in a press release this week. “I look forward to leading our talented and dedicated team. Together, we will expand our technology business model and continue to position Horizon for long-term success.”
Horizon operates 78 locations from Midland, Michigan south to Indianapolis. It has averaged 13% annual growth since 2002, driven in part by 15 acquisitions, including last year’s deal with to purchase 14 branches of the $178.8 billion-asset Huntington Bancshares in Columbus, Ohio.
Horizon’s appetite for expansion is undiminished. It expects to “significantly outpace” gross domestic product and industrial growth over the next few years, with about half of the projected increase coming from additional M&A activity.
Prame’s hiring “represents an important step in Horizon’s strategic expansion of its leadership team,” Chairman and CEO Craig Dwight said in a release. At First Midwest, Prahm served as executive vice president and general manager of community banking. He joined the company in June 2012 as Director of Retail Banking.
Horizon reported net income of $24.9 million for the quarter ended June 30, a 12% year-over-year increase.