Evansville bank Old National has priced a public offering of 18 million shares of common stock at $10 per share as it seeks capital to buy up other troubled financial institutions.

Old National estimates the net proceeds from the offering will be approximately $171 million to “support ongoing and future anticipated growth,” the company said in a news release late Tuesday.

Such growth may include “opportunistic acquisitions of other financial institutions, possibly including acquisitions of assets and liabilities of failed or distressed financial institutions in FDIC-sponsored or assisted transactions,” the company said.

Old National’s parent company Old National Bancorp, has its primary operations in Indiana, but its footprint includes eastern and southeastern Illinois and central and western Kentucky.

The company says it already has total assets of $8 billion and more than 170 banking centers.

Shares of Old National closed at $10.65 Tuesday on the New York Stock Exchange, up 4 percent.