Banks scale back real estate needs as transactions shift online
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
Banking & Finance
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Pace of venture capital funding slows in Indiana, Midwest
Seven Indiana companies attracted $16.4 million in venture capital during the first quarter. Nearly all the money was paid out to Carmel-based ChaCha Search Inc., which secured a $14 million investment in January.
First Internet earnings surge on commercial loan growth
The Indianapolis-based bank’s commercial loan portfolio grew to $109.1 million, a rise of 62 percent compared with the first quarter of 2012. Commercial real estate loans rose 46 percent.
Indiana foreclosure prevention program expanding
State officials estimate that about 10,000 Indiana homeowners will get help in making their mortgage payments under an expansion of a federally funded foreclosure prevention program.
Stock market rebounds from worst day of the year
Good news on housing and earnings Tuesday morning helped stocks recover from a dismal Monday, when stocks suffered their biggest one-day decline since November.
Falling commodities give Dow worst day of the year
The Dow Jones industrial average tumbled 265.86 points Monday to close at 14,599.20, a decline of 1.8 percent.
Indiana pension shifts to international bonds
The Indiana Public Retirement System recently issued a request for proposals from international fixed-income managers and received 16 responses by the April 5 deadline. The $27.1 billion retirement system will hire two managers to oversee $900 million.
HHGregg throws lifeline to employees with underwater options
The company this month filed papers gave option holders the right to exchange their current holdings for new options with an exercise price set at the current market price.
Bank of Indiana parent files Chapter 11, to sell branches
The bankruptcy of Bank of Indiana's parent and the planned sale of its branches bring to a close management's quest to turn around an institution that was buffeted by borrower defaults during the financial crisis.
Lilly pulls back from proposals lowering takeover barriers
Fortunately, a Lilly takeover looks less likely today than it has in a long time—for both obvious and more subtle reasons.
First Internet Bancorp jumps into dividend game
The parent of First Internet Bank late last month declared a dividend of 6 cents per common share payable April 15 to shareholders of record April 1.
Carmel financial adviser accused of using faith to prey on victims
A central Indiana man banned from selling investments faces 10 securities fraud counts for allegedly using shared Christian beliefs to dupe clients out of more than $580,000.
Indiana wraps up deal for Ohio River toll bridge
Toll revenue appropriated by the Indiana General Assembly is scheduled to pay off $1.48 billion in bonds by 2051.
S&P 500 closes with record high, beating 2007 mark
For the second time in less than a month, the stock market marched past another milepost on its long, turbulent journey back from the Great Recession.
Bonuses drive up compensation for Lilly’s top brass
Eli Lilly and Co. granted larger bonuses to its top five executives early this year, which boosted their 2012 compensation anywhere from 3 percent to 8 percent.
Two of city’s largest credit unions set to merge
Horizon One Federal Credit Union, founded in 1949 to serve General Motors metal-stamping plant employees in Indianapolis, is merging with Financial Center Credit Union.
Urban biz accelerator giving leg up to startups
Indianapolis-based startup Dreamapolis is finalizing the details of its first Dreamapolis Accelerator class, a 12-week crash course designed to help high-potential urban businesses get up to speed quickly.
Steak n Shake’s value menu isn’t all that looks cheap
Investors may be undervaluing Biglari Holdings Inc., which owns Steak n Shake outright and holds 20 percent of Cracker Barrel.
Fortune can’t explain ‘significant and unusual’ stock swing
Fortune Industries Inc. shares on Monday jumped as much as 285 percent from Friday’s closing price. The New York Stock Exchange found the move and an intense spike in trading volume so odd that it asked the company for answers.
Judge says bank can pursue suit against broker
A federal judge granted Peoples Bank a victory Thursday by ruling that it can sue Stifel Nicolaus & Co. on its claims that the broker violated the Indiana Securities Act and committed fraud.