Old National reports higher profit, revenue
Loan growth in the consumer and real estate sectors helped Evansville-based Old National Bancorp report higher profit and revenue in the second quarter, the company said Monday morning.
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Sallie Mae plans to add 200 jobs in Muncie
The jobs are part of a $5 million expansion in which the company will add 20,200 square feet of space to its offices in Muncie. When finished next summer, the 75,000-square-foot facility will house 900 employees.
State pensions’ strategy shift causes manager fees to rise
The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
Web startup aims to connect private businesses, investors
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
Treasury gives TARP banks more time to consider their options
Banks now have until October to avoid having preferred shares auctioned by federal government.
BrightPoint merger talks driven by ‘deal certainty’
When BrightPoint officials saw conditions in the cell phone distribution business take a turn for the worse, they were quick to cash out while the going was still good.
Judge rejects Fair Finance attorneys’ fee request
The compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier Tim Durham.
Indiana life sciences companies rethink innovation
Research and development comes under pressure in an age of austerity.
WellPoint shares sink after profit misses analyst estimates
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer’s quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
Lilly’s quarterly profit falls, but tops analyst expectations
Eli Lilly and Co. reported second-quarter profit that fell less than analysts had expected. The company raised its outlook for the rest of the year.
Simon boosts dividend, outlook after strong second quarter
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
Venture funding falls 12 percent in second quarter
Funding for U.S. startups fell 12 percent in the second quarter as venture capitalists poured less money into fewer deals than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest level in more than a decade.
PROXY CORNER: The Finish Line Inc.
The Finish Line Inc., 3308 N. Mitthoeffer Road, Indianapolis, www.finishline.com, is a specialty retailer of brand-name athletic and leisure footwear, activewear and accessories.
Six banks that owe Treasury walk TARP tightrope
Six of the 17 Indiana banks that relied on the federal government to shore up their balance sheets in the recession have yet to repay, and the U.S. Treasury isn’t going to wait forever.
Area couple’s bankruptcy filing lists $18.5M in debt
An Indianapolis-area couple that operated more than two dozen companies—including one that provided financial counseling—has filed for bankruptcy, listing $18.5 million in debt that includes unpaid business loans and mortgages for homes in Florida and Wyoming.
First Internet Bancorp reports higher earnings
First Internet Bancorp, parent of Indianapolis-based First Internet Bank, said Thursday that profit rose 55 percent in the second quarter compared with the year-ago period.
PNC earnings sink on soured home mortgages
PNC Financial Services Group Inc. said Wednesday its second-quarter net income shrank 41 percent, as the bank set aside hundreds of millions of dollars to buy back home mortgages.
JPMorgan says bad trade has ballooned to $5.8B
JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.
Meridian CPAs folding into larger Somerset firm
Four principals and about a dozen other staff accountants and support staff at Meridian will join Somerset in August. Somerset is Indianapolis’ seventh-largest accounting firm, based on the number of local full-time employees.
Chase Tower’s $201M sale price sets record
A publicly traded real estate investment trust has agreed to pay $201 million for the tallest building in Indiana, a price that could give a boost to the local investment market.