Banks tread water as they wait for economy to improve
Banking experts say the health of Indiana institutions is taking baby steps forward along with the tepid economic recovery. But in these times, recovery looks grimmer than one might expect.
Banking & Finance
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Fair Finance artwork fetches more than $400,000 at auction
Saturday's art auction of work collected by Fair Finance co-owner Timothy Durham raised more than $400,000 — well above what the Akron company's bankruptcy trustee and even the auctioneer thought would be brought in.
Indiana Live swamped by debt, faces potential default
Owners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
SKARBECK: Biglari’s pay plan is raising eyebrows
Unfortunately, if BH thought it was breaking ground in the field of executive compensation with this plan, it has fallen short.
HICKS: Why the stimulus didn’t stimulate enough
The failure of the American Recovery and Reinvestment Act to deliver us from high unemployment will provide research grist for economists for decades to come.
ChaCha lands $20 million venture investment
The funding comes from new investors VantagePoint Venture Partners and Rho Ventures. Since its inception in December 2005, ChaCha has raised more than $50 million, including $7 million earlier this year from a venture capital fund.
Hentschel ramrodding KeyBank development in Indianapolis
Exec adds branches, deposits, after completing a stint at a human-resources firm.
Durham art auction offers hope for Ohio investors
The eclectic art collection of disgraced financier Tim Durham will hit the auction block Saturday in a sale that could help restore a small portion of the money lost by investors in Ohio's Fair Finance.
LEADING QUESTIONS: CPA Sponsel takes calculated risk
With a family history rich with entrepreneurs, Tom Sponsel decided late in his accounting career to strike out on his own.
Lawyer doesn’t buy Schrenker’s claims that he’s broke
Schrenker, 39, testified Tuesday that his assets had been seized and he had no source of income since going to jail. He also faces millions of dollars in court-ordered judgments upon his release.
Church financier faces Ponzi scheme trial in Indiana
A former pastor is going on trial for what authorities call a multimillion-dollar scheme that preyed on thousands of parishioners who thought they were helping build churches but were actually buying the man and his sons planes and sports cars.
Industry vet sees sectors on upswing, auctions booming
Jeff Henry, managing principal of Cassidy Turley, believes the commercial real estate market has seen the worst but isn't far off the bottom yet. Meanwhile, banks are beginning to jettison properties in a wave of auctions.
City Securities snares veteran stockbroker from competitor
L. Gene Tanner has left PNC Investments to join City Securities Corp. The veteran stockbroker who began his career with the former Raffensperger Hughes firm in 1958 said he has returned to familiar territory.
White House doubts need to halt all foreclosures
A top Obama adviser questioned the need Sunday for a blanket stoppage of all home foreclosures, despite evidence that banks have used inaccurate documents to evict homeowners.
Schrenker sentenced to 10 years for securities fraud
Hamilton Superior Court Judge Steven Nation sentenced Marcus Schrenker to 10 years in prison, ignoring Schrenker’s claims that a lighter sentence would give him enough time to make things right.
Central Indiana real estate auction activity heats up
A recent wave of foreclosure auctions suggests banks and other underwater real estate owners finally are poised to let go of a glut of properties.
HAUKE: A prediction amid gloom: Dow 20,000 by 2020
All this doom and gloom—it’s too much. The negativity and bearishness are way overdone.
OneAmerica dodged crisis, now reaps rewards
The Indianapolis-based life insurer's investment portfolio held up through the recession, and the company reported record revenue and profit in 2009.
Old National acquiring Monroe Bancorp for $83.5M
Monroe Bancorp subsidiary Monroe Bank is the largest bank headquartered in Bloomington. With nearly $850 million in assets, it has 15 branches in central and south central Indiana, including locations in Noblesville and Avon.
German American Bancorp acquires Bank of Evansville
American Community Bancorp Inc.’s subsidiary bank, Bank of Evansville, will become part of Jasper-based German American Bancorp Inc. in a deal valued at nearly $30 million.