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.
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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.
Former bank manager pleads guilty to theft, arson
A former assistant manager of a Fifth Third Bank branch in Indianapolis has pleaded guilty to setting fire to the bank vault
in an attempt to cover his thefts.
Old National reports earnings well below expectations
Evansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted share, missing
consensus analyst expectations by about 5 cents per share.
Huntington Bancshares posts third-quarter loss
Huntington Bancshares Inc. says it lost money in the third quarter as the regional bank built up fatter reserves to cover
bad loans.
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.
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.