First Merchants to acquire Indianapolis-based Hoosier Trust Co.
Muncie-based First Merchants plans to acquire Hoosier Trust for $3.2 million in a deal that is expected to close early next year.
Susan Orr
Articles
Savvy strategy, some luck propel online boutique to big success
Magnolia Boutique—known for its bohemian style built around casual, trendy clothing, shoes and accessories—is an online-only business on track to hit $10.5 million in sales this year, up from $7.9 million in 2019.
Bank deposits soar as customers save instead of borrow
High levels of uncertainty, along with other pandemic-related factors, have pushed U.S. commercial bank deposits to record highs since the beginning of the year.
Retailer Lowe’s to open delivery terminal in Greenwood
The 92,000-square-foot facility, which will handle last-mile delivery for bulky items like grills and patio furniture, is part of the retailer’s $1.7 billion investment in its distribution network.
Calumet Specialty Products posts $56M quarterly loss
The Indianapolis-based company, which makes specialty hydrocarbon and fuels products, said it is seeing business conditions improve compared with earlier months of the pandemic.
Carmel-based CNO Financial sees profit soar in third quarter
Carmel-based CNO Financial Group Inc. saw a sharp increase in profit during the third quarter, partly because its customers deferred seeking medical care and, as a result, submitted fewer health insurance claims.
Pet supplies chain with 10 local stores going out of business
The retailer has 358 stores, including four in Indianapolis, two in Carmel and one each in Brownsburg, Greenwood, Shelbyville and Zionsville.
Ivy Tech, Conexus to launch first-of-its-kind truck driver training program
The one-semester program, which includes both on-the-road driver training and academic instruction, is set to begin in January at Ivy Tech campuses in Indianapolis, Lafayette, Fort Wayne, Evansville and Lawrenceburg.
Italian market and restaurant Catello’s coming to Indy’s north side
Owner Catello Avagnale, who moved to the area from his native Italy in 2014, will operate both a restaurant and a market in an 8,400-square-foot space in the Clearwater Springs shopping center on East 82nd Street.
Panel: Manufacturers must prepare for coming technology revolution
Artificial intelligence, data analysis tools and other digital technology will revolutionize manufacturing and companies need to get ready for it, said panelists at an IBJ/Conexus Indiana industry event Friday.
Allison Transmission’s sales, profit improve from previous quarter’s plunge
Although its financial performance hasn’t yet recovered to pre-pandemic levels, the Indianapolis-based manufacturer’s third-quarter financial results exceeded analysts’ expectations.
Car detailing specialty chain opening first Indiana store
Detail Garage, a California-based retail chain, will open a franchised store in Plainfield on Friday. It’s the first in Indiana for the fast-growing retail arm of Chemical Guys, which makes a line of car detailing products.
Arbitrators deny J.P. Morgan’s request for damages against three former advisers
J.P. Morgan had claimed that the three former employees improperly solicited clients to follow them to their new firm.
Cummins stock surges to record on better-than-expected third-quarter results
The Columbus-based engine maker’s third-quarter revenue and net income rebounded better from pandemic-related lags than analysts had expected.
Old-line metal-fabrication company sees revenue surge under new ownership
Until a few years ago, Indianapolis-based IMH Products was stuck in neutral—turning a profit, yes, but doing so with outdated equipment and without an emphasis on growth.
Fletcher Place eatery Repeal to close, making way for distillery, pizzeria
Neighboring 1205 Distillery plans to take over the space along with Greek’s Pizzeria, creating a combination tasting room and restaurant.
Hickory Hillz BBQ opening in downtown Franklin
It will be the second restaurant for the business that started in Edinburgh in 2005. Also this week: Guardian RV Storage, Sun King, Big Woods, Liftoff Creamery and Athletic Annex.
First Internet Bancorp reports record quarterly profit
The Fishers-based parent of First Internet Bancorp had a milestone quarter thanks to a boom in mortgage activity, the company reported Wednesday afternoon.
Q&A with Tichina Clark, who turned lessons from prison into a business
In November 2019, Tichina Clark officially launched her business, which sells homemade soups, salads and desserts packaged in mason jars.
New corporate pledges strive to give equity efforts staying power
The Indy Racial Equity Pledge, launched Oct. 8, details what nine Indianapolis-area employers plan to do to improve racial equity within their organizations, the Indianapolis area, and beyond.