Carmel-based Merchants Bancorp reports record profit for 2017
The bank, which went public in October, says it saw especially strong growth in its multifamily mortgage business last year.
Banking & Finance
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Market’s turmoil could affect Federal Reserve’s rate decisions
The turbulence coursing through markets has raised speculation that Fed officials might decide to slow their pace of rate increases out of fear of upsetting the markets and possibly harming the economy.
Dow plunges 1,032 as market enters correction territory
The Dow Jones industrial average is 10 percent below the record high it set just two weeks ago after another market swoon on Thursday.
Judge orders ex-CEO to pay nearly $850K in Veros Ponzi scheme
A former finance company chief with a history of securities law violations has been ordered to pay almost $850,000 in connection with the sale of shady securities based on farm loans.
Strong year bolsters battered Auer Fund
The Indianapolis-based mutual fund has posted cumulative returns of negative 0.43 percent since 2008. But things turned around in a big way last year, with 2017 returns of 28.75 percent.
UPDATE: Stock market goes on another wild ride
n another stomach-churning day Tuesday, stocks plunged in the morning, then pulled off a late-afternoon rally, ending the day in positive territory and recouping some of the losses from the market's two-day plunge.
Ganassi lands PNC Bank sponsorship for Dixon’s IndyCar
Scott Dixon, who is ranked fourth on IndyCar’s all-time victory list with 41, got by with patchwork sponsorship last season after Target ended nearly 30 years with Chip Ganassi Racing.
U.S. economy fundamentally strong despite stock market plunge
A wave of fear about inflation and higher interest rates helped send stock prices tumbling Friday and Monday. Yet the rush of anxiety has obscured a fundamental fact about the U.S. economy: It's healthy.
After stomach-churning ride, Dow ends session with largest-ever point drop
The Dow Jones industrial average briefly plunged nearly 1,600 points Monday, definitively ending a record-setting period of calm in the U.S. stock market.
Investment pros staying calm after rate fears clobber stocks
Many fund managers and analysts say they’re optimistic stocks can keep rising, even if interest rates continue to climb.
Dow drops more than 500 points as investors fret over higher interest rates
Strong jobs data that increased the likelihood the Federal Reserve will lift rates next month rattled equity investors who haven’t seen a week this bad in two years.
Banking titan Andy Paine dies at age 80
Paine spent 37 years in banking, starting with Indiana National Bank, where he rose to president and chief operating officer. At his retirement, he was president and CEO of the Indiana arm of NBD Bank.
House advances ‘hillbilly venture capital’ bill pushed by payday loan industry
House Bill 1319, which would allow the short-term loan industry to offer high-interest consumer loans, is opposed by veteran groups, religious institutions and consumer advocates.
Fed leaves key rate unchanged at Yellen’s final meeting
The Federal Reserve said it expects the steadily strengthening economy to warrant further gradual increases in its benchmark rate.
Banks poised to reap big gains from tax reform
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Survey: U.S. retirement savings in best shape in years
The surging stock market, which has more than quadrupled since early 2009, has helped increase the value of 401(k) and Individual Retirement Accounts.
Banks to sell off five Indiana branches as part of $1B merger
Cincinnati-based First Financial Bancorp and Greensburg-based MainSource Financial Group have agreed to sell off five bank branches in Indiana to resolve regulatory concerns that could stand in the way of their planned merger.
House panel advances ‘hillbilly venture capital’ legislation
An Indiana House committee on Wednesday advanced a bill that the payday loan industry says would create a longer-term, higher-value loan for people who have such bad credit scores that they can’t be helped by regular banks.
Fear, respect for Amazon fuels deals, alters corporate strategies across Indiana
More deals could be on the horizon as dozens of companies—including local powerhouses such as Simon, Eli Lilly and Anthem—game out what Amazon’s huge ambitions could mean for their bottom lines.
Mergers, acquisitions off to hottest start since 2000
North American companies, which fell out of favor among acquirers last year, are back on the shopping list in 2018, making up almost 60 percent of all announced transactions in 2018.