Many banks still digging out from Great Recession trauma
The following statistics reflect performance of the 10 banks with the largest market shares in the Indianapolis Metropolitan Statistical Area.
Banking & Finance
Articles
HIATT: Political campaign puts private equity in the spotlight
In the current political campaign, private equity, the industry in which I have spent much of my career, finds itself in the spotlight. But in my conversations with other intelligent people, I often find they are curious about what private equity funds do.
Retailers await decision on $7.2B ‘swipe-fee’ settlement
In what could be the largest antitrust settlement in U.S. history, the agreement would resolve dozens of lawsuits filed by retailers against Visa Inc., MasterCard Inc. and the banks that issue their credit cards.
Banks eager to loan, but small firms hold back
Indiana banks can tout more success in small-business lending since the recession ended, but the success is hard-won because the masses of entrepreneurs remain cautious about borrowing.
M&I-BMO Harris changeover leaves some customers in lurch
BMO Harris Bank’s expansion in Indianapolis and other markets via its acquisition of M&I Bank is off to a rocky start as many customers still are unable to access their online banking accounts.
Creditor could take ownership of downtown Comfort Suites
The owner of the hotel, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy in February. German American Capital Corp., which is owed $12 million, could own the property by the end of the year.
MainSource making most of prime downtown spot
Part of former Borders bookstore space is marketing opportunity for Greensburg-based bank. The other half could be turned into lobby for Barnes & Thornburg.
T2 Systems might tap cash hoard for acquisitions
Fast-growing T2 Systems has been biding its time since scoring a $28 million equity infusion a year ago, but the maker of parking management software could soon be towing competitors out of its space.
Judge tosses out lawsuit blasting Irwin executives
A judge dismissed a lawsuit filed by Irwin Financial Corp.'s bankruptcy trustee, saying the only party with the right to bring suit was the bank’s receiver, the Federal Deposit Insurance Corp. It didn't do so by last month's deadline.
Berry Plastics prices IPO at low end of range
The Evansville-based packaging products maker raised $470 million by selling 29.4 million shares at $16 apiece.
Wellpoint raises $1.35B in first convertible offering since ’99
Indianapolis-based WellPoint Inc. sold its first convertible securities in more than 13 years with a $1.35 billion offering of 30-year bonds.
Bernanke: Economy growing much too slowly to put people back to work
Federal Reserve Chairman Ben Bernanke told a local lunch crowd that he expects the economy to keep growing, but he said the growth is so slow that it could create a "permanent group" of underemployed Americans.
Bernanke makes strong defense of Fed rate policies
In a speech in Indianapolis, Chairman Ben Bernanke offered a sharp defense Monday of the Federal Reserve's bold policies to stimulate the weak economy, while cautioning Congress to respect its private discussions.
Receiver appointed to manage troubled Century Building
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.
Settlement allows Broadbent to keep downtown HQ
The Indianapolis developer will continue to own its corporate headquarters at 117 E. Washington St. after reaching a settlement with two banks that had filed a lawsuit to foreclose on the building.
Sale of signature game Phase 10 sent Fundex into ditch
The nightmare that culminated with the Plainfield-based company’s recent Chapter 11 bankruptcy filing began in the depths of the financial crisis, when the company’s lender yanked its more-than-$10-million line of credit.
Notices going to those eligible for mortgage settlement
More than 37,000 Indiana borrowers who lost homes to foreclosure soon will receive claim forms for payments under the national mortgage settlement.
SEC accuses local firm of bilking investors out of $1.7M
The SEC’s complaint accuses three people of committing securities fraud by spending investor funds on luxury automobiles, a motorcycle, a 30-foot boat, college tuition, home renovations, a wedding and a honeymoon in St. Lucia.
Startup aims to take business cards into digital age
Indianapolis entrepreneur Nick Carter thinks he’s found a way to eliminate the “black hole” of marketing data: smart business cards that track how recipients use them.
OneAmerica unit using hybrid policies to grow long-term-care sales
Using banks as a sales channel also boosts business in what has been a languishing product segment.