Bank seeks to foreclose on local apartment complex
The owners of Arbor Green Apartments on the city’s northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
Banking & Finance
Articles
E&A buttered by $125M sale of Udi’s to Smart Balance
Indianapolis investment firm E&A Industries is cashing out of its majority stake in Udi’s Healthy Foods LLC by selling the Denver-based food company to margarine maker Smart Balance Inc. for $125 million.
Simon Property reaches $2 billion credit arrangement
Indianapolis-based Simon Property Group Inc., the country's largest shopping mall operator, has a new $2 billion unsecured revolving line of credit.
Really Cool Foods plant on auction block
Really Cool Foods closed the 78,000-square-foot facility in November and is searching for a buyer to help repay creditors. One potential suitor is Sugar Creek Packing Co. of Ohio, which has offered $13 million, according to a bankruptcy filing.
SPECIAL REPORT: Stock-based pay builds wealth for Indiana execs
IBJ's annual review of proxy statements for Indiana public companies found senior executives' median compensation rose 14 percent in 2011. But that analysis uses the fair market value of stock and options awards on the date they were granted. If a company's stock price surges, executives can make out far better. (with searchable database)
Durham lawyer wants lifestyle out of trial
Tim Durham’s attorney is hellbent on preventing prosecutors from fixating on the things that made the Indianapolis financier a staple of TV news and gossip columns—his fancy cars, waterfront mansion and other trappings of a lavish lifestyle. Durham’s trial is set to begin on Friday.
PNC economists think local recovery will take hold
Second-quarter forecast for Indianapolis is positive in spite of Lilly, small business concerns.
Fishers building owner seeks bankruptcy reorganization
Lantern Partners LLC owns the Freedom Mortgage Building once occupied by the failed Irwin Mortgage Corp. Lantern’s largest creditor is owed nearly $11.4 million.
Indiana official warns against new investment tool
Indiana's secretary of state is urging investors to thoroughly vet new online investment operations coming under a new federal law.
Lawsuit takes on debt-modification firm
A lawsuit filed in Georgia against an Indianapolis firm that helps consumers settle debt is just one in a parade of complaints targeting the industry.
Indiana struggling to distribute foreclosure aid funds
The $182 million awarded to the state by the federal government was based on the unemployment rate, which is falling.
BKD selects Dickman as managing partner
The head of the national accounting firm’s Indianapolis office will lead the entire company effective June 1.
Not-for-profit hoping to grow microloan program
Small amounts of funding often ignored by larger banks.
Pacers owner teams with Smulyan to buy Emmis stock
A partnership of Herb Simon and Jeff Smulyan filed plans to buy up to an additional 1 million shares of Emmis Communications Corp. at no more than $2 apiece.
South-side medical office building in foreclosure
Munster-based Citizens Financial Bank claims the owner of the building at 1340 E. County Line Road owes $4.1 million on a loan originating from 2002 and is seeking to have a court-appointed receiver manage the building’s operations.
Dan Laikin spurred probe of Tim Durham, filings reveal
The FBI had been investigating Tim Durham since March 2009, when his friend Dan Laikin, a Fair Finance board member, offered up incriminating information on the Indianapolis financier in hopes of securing a lighter sentence for himself in an unrelated case.
Greenwood sues bank to collect $917,000 letter of credit
The City of Greenwood says a Minnesota bank owes it more than $900,000 to pay for street and sewer improvements left undone by the bankrupt developer of a mobile home park along U.S. 31.
Indiana issues call for external audit of tax agency
Indiana budget leaders are looking for an external auditor to review the state Department of Revenue after workers discovered $526 million in errors in recent months.
REED: Conditions for bank mergers thaw following long winter
A few Indiana banks enjoy prices in excess of 150 percent of book.
First Merchants has sights set on metro area growth
Boone, Hancock counties on the Muncie-based bank’s radar.