Fifth Third combines Indiana banking regions
Fifth Third Bancorp has combined its Central Indiana and Southern Indiana units into a single affiliate. Nancy Huber, CEO of the company’s Central Indiana region since 2009, will retire May 15.
Banking & Finance
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Software firm TinderBox lands $3M VC investment
Indianapolis software developer TinderBox Inc. plans to fuel product development and build up its sales and marketing teams after receiving $3 million in venture capital.
Broadbent in mortgage dispute involving retail center
The owner of Castleton Place, a shopping center in one of the city’s busiest retail areas, is the target of a $5 million foreclosure lawsuit by a lender that seeks to have the property placed in receivership.
IPS terminates CFO after disagreement over budget
Indianapolis Public Schools has fired its chief financial officer for “unsatisfactory work performance” one week after Superintendent Lewis Ferebee publicly disagreed with a financial assessment that said the district had a $30 million budget deficit.
Trustee takes over Deca Financial Services
Fishers-based bill-collection firm Deca Financial Services LLC missed a March 17 deadline to come up with more than $11 million to avoid involuntary Chapter 11 reorganization sought by its creditors.
Bill opens door to crowdfunding investments for businesses
Privately owned businesses in Indiana will be able to raise investments online as part of a bill on the way to Gov. Mike Pence’s desk.
More hiring coming to Indiana?
At first blush, a poll that suggests 40 percent of Hoosier businesses plan to invest money into their business this year sounds promising.
Company must pay back Indiana businesses
A company has agreed to refund to nearly 1,200 Indiana businesses the money they paid for services that they erroneously believed were required by law.
Companies, including WellPoint, use buybacks to boost stock
Companies have been spending big on buybacks since the 1990s. What's new is the way buybacks have exaggerated the health of many companies.
Biomet files to sell shares in IPO to pay down debt
Indiana-based Biomet Group Inc., a closely held maker of orthopedic medical devices, had been publicly traded until 2007 when it was acquired by the group of private equity firms.
Collection firm Deca accused of not paying bills
Creditors are trying to force the company, which just two years ago was touting ambitious expansion plans, into bankruptcy.
Same-sex marriage tax benefits nixed by Senate
Indiana lawmakers voted to change a tax bill Monday, a move allowing the state to keep its current policy, which does not recognize same-sex marriages for tax purposes.
Stonegate plans to add 400 workers in expansion
The mortgage company plans to invest $6.2 million in new office space in Carmel, at the North Haven office park, helping it double its work force by 2017.
A strong February wipes out market’s January loss
The Standard & Poor's 500 index rose 4.3 percent in February, the biggest gain since October 2013, helped by strong corporate earnings and a Federal Reserve that seems to have Wall Street's back at every turn.
Can oil refiner Calumet keep dividend gushing?
The decline in the stock price has pushed the dividend yield ever-higher, with Calumet now boasting the 18th-largest yield among the more than 3,000 companies that trade on NASDAQ.
Emerging growth markets tempt Hoosier companies
Consumption in emerging markets across the globe is growing fast, according to Chase Bank. Executives of several Indiana firms share their successes and mistakes when establishing operations outside the U.S.
Sky’s the limit on bank’s aircraft finance business
1st Source is among few Indiana-based institutions to deal in jet financing.
Banks gathering all their clients’ eggs into one basket
Banks and credit unions facing more competition from online lenders—and now even from big-box stores offering financial products—are working harder to get a bigger piece of a customer’s wallet over the long haul.
First Financial changes local leadership as it expands
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank’s state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
Lender with unique niche broadening its ambitions
Oak Street Funding, a Carmel firm that lends exclusively to insurance agencies/brokers, plans to diversify this summer, with its first loans to registered investment advisers.