RELLER: Refinancings likely to undermine prices for commercial real estate
Buyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
Banking & Finance
Articles
NatCity name to remain at local branches until early 2010
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Rokita builds rep as tough enforcer of securities laws
Secretary of State Todd Rokita has relied on fines and fees to greatly increase his office’s firepower without a tax hike.
SKARBECK: Getting a good price hinges on stock’s value
Making investment decisions based on where a stock price has been in the past or betting on where it may go in the future is futile and foolish unless the investor has determined the value of the stock.
Indiana bank CEOs get bigger pay hike than peers
For banks, the last two years have been among the most tumultuous in history. Financial institution CEOs across the country
responded by trimming their raises in 2009. But in Indiana, bank chiefs didn’t follow form.
National, state foreclosure filings fall
Indiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5 percent from October 2008.
Local man gets 37 months in mortgage-fraud scheme
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
Major stock indexes climb to yearly highs
Major stock indexes rose as much as 2 percent, including the Dow Jones industrial average, which jumped 203 points.
Record number of Indiana taxpayers e-filed this year
Indiana taxpayers filed a record 2.2 million electronic federal tax returns this year.
Huntington National Bank’s assets fell because partnership ended
Last week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
why.
Failed Charlotte skyscraper brings Indianapolis developer back to earth
The Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas, with more floors
than any building in the region except the Charlotte headquarters of Bank of America Corp.
Loan losses contribute to First Internet’s poor earnings
Indianapolis-based First Internet Bancorp on Wednesday said it lost $208,806 in the third quarter, as loan losses continued to increase.
Blue River posts loss on poor loan climate
Shelbyville-based Blue River Bancshares Inc. on Tuesday night said mounting loan losses contributed to a third-quarter loss of $356,000.
Buffet’s Berkshire buying railroad for $34B
Warren Buffet’s Berkshire Hathaway says it has agreed to buy Burlington Northern Santa Fe in a deal valuing the railroad at
$34 billion.
First Merchants posts quarterly loss on bad loans
Muncie-based First Merchants Corp. said Monday afternoon that loan charge-offs contributed to a loss of $6.4 million in the third quarter.
Economic turmoil hasn’t shaken up local banks’ market shares
One of the toughest runs for the finance industry since the Great Depression didn’t lead to a major shakeup in Indianapolis’
banking landscape. Substitute PNC’s brand for National City’s, and the top eight positions remain unchanged.
HICKS: Recession results in ‘great deleveraging’
On virtually every meaningful measure, this recession stacks up as only the third or fourth worst post-World War II recession, but its effects are much more profound in a few areas. One area that will be most apparent is the changes the economy has wrought on consumer credit.
Pace of life sciences venture capital deals in Indiana picks up
After no Indiana health and life sciences firms announced venture capital deals in the second quarter, five did so in the
third, and two more have already this month.
Steak n Shake’s Biglari adds intrigue by buying stake in insurer
The Indianapolis-based company’s CEO revealed earlier this year that he intends to use Steak n Shake as a holding company
that will pursue purchases “either related or unrelated to its ongoing business activities.”
SKARBECK: Lenders still not serious about serious reform
The early signs point to meek efforts by the Obama administration to address gaping regulatory issues.