Local credit unions largely avoided putting toxic assets on their own balance sheets. Even so, they’re going to have
to pay millions of dollars to clean up their industry’s books.
Eli Lilly and Co. has reorganized its venture capital division and simultaneously poured in an additional $25 million.
HHGregg Inc. shares have enjoyed a spectacular runup this year. But the company’s biggest shareholder is making a
huge bet that the good times are only beginning.
If you never got around to opening that Swiss bank account, you might want to wait a bit longer—at least until after
Sept. 23. That is the date the IRS has set for any tax-evading American to come forward regarding 52,000 accounts held at
Swiss banking giant UBS under a Voluntary Disclosure program.
Muncie-based First Merchants Corp. disclosed this week that the bank lost $31.2 million in the
second quarter, including $10.2 million it blamed on fraudulent financial statements provided by a large commercial borrower.
More emerging life science companies have found life in the form of federal
Small Business Innovation Research grants.
Irwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible
suspension of its business.
White River Capital Inc. today reported its profit in the second quarter fell 33 percent compared
to the same period last year, due primarily to expenses associated with its canceled merger.
Gov. Mitch Daniels expected his unprecedented $3.8 billion Indiana Toll Road lease to last 75 years. It may be tested after
just three.
Carmel-based Dormir LLC’s announcement July 29 of $12 million in venture financing was the second local life sciences
deal announced in July. It could suggest a turnaround from a woeful second-quarter performance, when Indiana life
sciences firms announced zero venture capital deals.
I have learned a lot about sea turtles since last
night, and I believe a few of these things belong in any long-term discussion about investing.
Carmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million
in venture capital from three out-of-state firms. The company plans use the proceeds to acquire six to 10 companies this year
and more next year, according to CEO Tim Miller.
Conseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents
per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after
the market closed.
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will
become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
Regulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible
suspension of its business.
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed
to exceed analysts’ expectations.
Indianapolis-based White River Capital Inc. has quietly called off its merger with Itasca, Ill.-based
First Chicago Bancorp.
It is ironic that in the aftermath of the credit crunch, with investors calling for more market transparency from Wall Street,
opaque trading markets are thriving.
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before
making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly
traded banks with a presence in Indianapolis.
Bank transaction counts—the number of people going into banks to make a deposit, cash a check or
conduct some other form of business—have declined in recent years with the increased popularity
of direct deposit, online banking and easy ATM accessibility. So why add branches?
