EXHIBIT 5 AND 23(b) WARNER NORCROSS & JUDD LLP ATTORNEYS AT LAW 900 OLD KENT BUILDING 111 LYON STREET, N.W. GRAND RAPIDS, MICHIGAN 49503-2489 TELEPHONE (616) 752-2000 FAX (616) 752-2500 January 24, 1997 Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549 Re: OLD KENT FINANCIAL CORPORATION OLD KENT DEFERRED COMPENSATION PLAN Dear Ladies and Gentlemen: As general counsel for Old Kent Financial Corporation, a Michigan corporation (hereinafter called the "Company"), we have examined and are familiar with the Company's Restated Articles of Incorporation, Bylaws, and other corporate records and documents and have made such further examination as we have deemed necessary or advisable in order to enable us to render this opinion. Based upon the foregoing, we are of the opinion that: 1. The Company has been duly organized and is validly existing under the laws of the State of Michigan. 2. The Deferred Compensation Obligations of the Company under the Plan, when incurred in the manner described in its Form S-8 Registration Statement, are and will be legally issued, fully paid, non- assessable, binding obligations of the Company. It is further our opinion that the provisions of the Plan comply with all requirements of the Employee Retirement Income Security Act of 1974, as amended, pertaining to such provisions. We hereby consent to the filing of this opinion and consent as an exhibit to the Registration Statement on Form S-8 covering the Deferred Compensation Obligations to be issued pursuant to the Old Kent Deferred Compensation Plan. WARNER NORCROSS & JUDD LLP By /S/ GORDON R. LEWIS Gordon R. Lewis A Partner