PNC profit rises despite growing loan losses
Shares of PNC Financial Services Group Inc. soared Thursday after the nation’s fifth largest bank said its profit grew sharply during the third quarter, even as loan losses rose.
Banking & Finance
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Related-party loans pile up at Durham-owned finance firm
Indianapolis businessman Tim Durham has treated Ohio-based Fair Finance Co. almost like a personal bank since buying it seven
years ago, and now he, his partners and related firms owe it more than $168 million, records show.
Opportunists hunt deals in commercial real estate
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.
Indianapolis-based FAST Diagnostics gets funding from BioCrossroads’ seed fund
Money will help the company refine its tool to treat acute kidney injury.
HAUKE: Sinking of dark pools may have consequences
If I were working with the SEC, I would exercise some caution before issuing new regulations about these dark pools.
First Financial gets sweet deal on Irwin Financial’s bank assets
It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
Local lenders support small-biz loan initiative
Small business lenders in Indianapolis are supporting a proposal announced by President Obama Wednesday that would increase
the size of government-backed loans.
Second developer facing foreclosure on Fishers property
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical
to the project’s development has been scheduled for liquidation by a lender.
Another year of bank migration?
More than a year a year after the financial crisis began, businesses are still looking for new bank relationships.
SKARBECK: Market a bright spot amid worrisome economy
The financial media have the corks ready to pop as the Dow Jones industrial average re-crosses what pundits claim is the â??psychologically importantâ?? 10,000 level.
Indiana Members Credit Union signs Pacers sponsorship pact
The agreement includes player appearances, a Pacers debit card, courtside signage, radio spots,
hospitality and use of the Conseco Fieldhouse practice court for community relations initiatives.
Dow Jones industrials close above 10,000
The Dow Jones industrial average is back above 10,000 for the first time in a year.
Conseco shares soar on hedge-fund investment
Shares of Carmel-based life insurer soared as much as 26 percent, to $6.30 apiece, in morning trading after New York-based
Paulson & Co. agreed to buy $78 million in Conseco stock and $200 million in company bonds.
Schrenker plans book about plane crash
An indicted Indiana money manager plans a book about an attempt to flee mounting personal problems that ended with him parachuting
from a plane that later crashed into a Florida swamp.
Study: Taxing services could yield state $6.8B
The non-partisan Indiana Fiscal Policy Institute this morning released a new study exploring the ramifications of expanding
the state’s sales tax to include services.
Securities firm Stifel Nicolaus balks at fraud charge
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds
were clients of Jeff Cohen.
HAUKE: October likely to avoid much-predicted scariness
The two largest stock market crashes occurred in October.
My Health Care Manager lands $3 million investment
The company, which guides working adults and their parents through the maze of decisions and agencies involved in care for seniors, plans to use the money primarily to augment its sales staff and operations.
Trial delayed for money manager Schrenker
An Indiana judge has delayed until March the trial on securities fraud charges of a former money manager who tried to fake
his own death by jumping from a small plane before it crashed in Florida.
Events to teach personal finance, money management
Hundreds of free events to educate consumers on personal finance and money management will occur around Indiana the week of
Oct. 10-17 as part of the Federal Reserve Bank of Chicago’s annual Indiana Money Smart Week.