Indiana House votes to phase out inheritance tax
The Indiana House on Tuesday approved a 10-year phase-out of the state's inheritance tax that now brings in about $160 million a year.
Banking & Finance
Articles
IU Health names Kitchell chief financial officer
Ryan Kitchell, 38, replaces Marvin Pember, who left in July to take an executive position with Philadelphia-based hospital system Universal Health Services Inc.
Fair Finance trustee sues former owner for $150M
The lawsuit charges Donald Fair knew Tim Durham was looting the business but kept quiet to collect millions of dollars in payments scheduled to be made from 2002 to 2007.
Bank seeks $2M from estate of London Witte Group founder
The estate of Richard J. Salewicz, who died in 2010, is named in the foreclosure suit that also targets Tyson Corp., the company he owned on the southwest side of Indianapolis. Local accounting firm London Witte is not part of the court action.
Indiana Live receives offer from Hoosier Park owner
Indiana Live is receiving overtures from potential buyers, including the owner of local competitor Hoosier Park & Casino, its parent company said in a recent bankruptcy court filing.
Couple accused of tax fraud turning the tables on state
Real estate investor Chris Marten and his wife, Janice—a longtime Carmel jeweler—charge in a new federal lawsuit that investigators trampled on their constitutional rights during the inquiry, which resulted in 28 criminal charges.
Soaring revenue at Angie’s List impresses analysts
Indianapolis-based Angie's List beat analysts’ revenue expectations in its first quarter as a public company, seeing results from a marketing campaign that drove up expenses.
Angie’s List posts smaller loss on higher revenue
The Indianapolis-based company posted a loss of $5.9 million in the fourth quarter on revenue of $27.9 million.
CNO Financial profits beat analysts’ predictions
Excluding investment gains and one-time charges, CNO’s operations generated $60.1 million, or 22 cents per share, in the fourth quarter, up 16 percent from the same period last year.
Nuts-and-bolts distributor’s sale leaves suppliers empty-handed
The purchaser, The Whitesell Group of Companies, bought the assets but not the liabilities, including $5 million owed to various unsecured creditors.
Wiretaps suggest Durham tried to sugarcoat Fair’s woes
Transcripts of phone conversations capture Fair Finance CEO Tim Durham discussing ways to recast company financials to mitigate Ohio securities regulators’ concerns about massive insider loans.
Foreclosure activity edges higher in January
Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year. Foreclosures were up 69 percent in Indiana compared to January 2011.
Tax credits spur city apartment construction
Increase in federal funding helps developers finance projects that include mixed-income rental housing.
Foreclosure sought for downtown’s Century Building
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
More Fair suits target Durham family members
Those named in the latest lawsuits include Tim Durham’s ex-wife, Joan SerVaas; B.J. Durham, SerVaas’ biological son who was adopted by Durham; and the financier’s sister, Courtney Durham.
First Merchants shuns management from failed SCB Bank
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank’s CEO into the new ownership.
Feds take over SCB Bank in Shelbyville
Muncie-based First Merchants Bank will assume the deposits and some of the loans of SCB, the third Hoosier bank to fail since the banking crisis began three years ago.
Merger to give northwest Indiana bank local foothold
Horizon Bancorp of Michigan City announced Friday that it has agreed to acquire Heartland Community Bank of Franklin for about $14 million, or $9.72 per share.
13K Indiana foreclosure victims to get $2K checks
Indiana homeowners will receive about $43 million in refinanced loans while other borrowers will get $30 million worth of loan-term modifications and other relief as part of a $25 billion nationwide settlement with the country's biggest mortgage lenders.
Councilor seeks review of city’s TIF-district strategy
Brian Mahern, a Democrat on the City-County Council, plans to propose a study commission to examine the effectiveness of TIF districts, how property tax caps will affect them, and ways to increase transparency for the complicated financing vehicles.