Old National Bancorp is expanding its lending capability in West Michigan with the addition of two new employees on the capital markets team within its corporate treasury department.
Martha (Marty) Richardson and Chip Windisch have joined Old National from InSite Capital, a subsidiary of Chemical Financial Corp.
Richardson comes to Old National as senior vice president, capital markets, bringing more than 30 years of experience in commercial real estate, banking and development experience.
Windisch, who began his banking career in 2007, joins Old National as vice president, capital markets.
“We are very excited about the addition of Marty and Chip to the company,” said Chris Wolking, Old National CFO.
“Their expertise and enthusiasm complements our commitment to the communities we serve. They will work closely with our commercial lending and community development teams to identify new business opportunities related to low income housing, historical and new market tax credits.”
A native of West Michigan, Richardson earned her undergraduate degree from Hope College and an MBA from Western Michigan University. She has had significant experience in community development through investing in federal historic, low-income housing and new markets tax credits.
Her comprehensive experience includes real estate development, affordable housing development, debt and equity restructuring, and asset-based lending.
“We have enjoyed working with community leaders and visionary developers who have a catalyst project in a community. We have assisted for-profit and nonprofits in many types of developments, from the historic renovation of a community theater to the redevelopment of a former school into affordable housing,” said Richardson.
“Seeing the impact these projects can make within a community is truly gratifying. Continuing this work with the Old National capital markets group is going to allow us to collectively access and impact more communities throughout our Michigan, Indiana and Kentucky footprint.”
Windisch earned an MBA from the Seidman College of Business at Grand Valley State University, where he also received an undergraduate degree in finance.
He began his banking career specializing in tax credit and incentive-based finance, and later developed expertise in the unique financing structures that accompany complex, incentive-based transactions. With his experience in tax credit investing, real estate lending and community development, Old National said Windisch can help clients unlock equity and access alternative sources of funding.
Working together, both were able to finance the redevelopment of a historic school into 38 affordable and market rate apartments for seniors. The project, which utilized a combination of Federal Historic and Low Income Housing Tax Credits, preserved a historic landmark, provided affordable housing and brought new residents downtown.
“Additionally, our recent investment in a historic community theater earned Michigan’s Governor’s Award for Historic Preservation,” said Windisch.