First Farmers Bank & Trust to open Carmel branch
Converse-based First Farmers Bank & Trust, which opened a loan production office in Carmel last year, now plans to operate a full-service branch in the city’s Arts & Design District.
Banking & Finance
Articles
ReJoyce Financial evicted from Carmel office
It’s the latest in a series of blows for ReJoyce and CEO Alexander Joyce, who gained attention locally through his frequent informercials but has faced numerous legal problems in recent years.
Sobering message from the Fed: Interest rate cuts aren’t coming soon
Since the start of the year, Federal Reserve Chair Jerome Powell and his colleagues had said they were looking for more assurance that inflation was ticking steadily down. Instead, they’ve gotten the opposite.
Big banks warn of uncertain year ahead after mixed financial Q1 performances
Banks warned of risks in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere.
Homebuyers face quandary: To wait or not to wait for lower mortgage rates
Combined with a nearly 44% increase in the national median sale price of previously occupied homes between 2019 and 2023, elevated mortgage rates have made buying a home less affordable for many Americans.
Merrillville-based Centier Bank expanding in Indianapolis market
Merrillville-based Centier Bank, which entered the Indianapolis market in 2011, is in the middle of a local growth spurt that includes three new branch locations and three additional relocations by early next year.
Powell: Fed still sees rate cuts this year; election timing won’t affect decision
The recent pickup in inflation has led some economists to postpone their projections for when the Federal Reserve will begin cutting interest rates.
IRS claws back money given to businesses under fraud-ridden COVID-era tax credit program
The IRS stopped processing new claims in September, but said it will likely resume processing sometime this spring.
Old National places CFO on leave following criminal charges
Evansville-based Old National Bank disclosed Monday that it has placed its chief financial officer, Brendon Falconer, on leave. Falconer was charged last week with two counts of felony child molestation.
Last year was bad for commercial real estate. This year could be worse.
Overall, the discouraging picture has policymakers and economists keeping a close eye on small and midsize banks, which hold about 80 percent of the overall stock of commercial mortgage loans.
Powell: Fed wants ‘more good inflation readings’ before it cuts rates
Federal Reserve Chair Jerome Powell said the economy’s strength means the Fed isn’t under pressure to cut rates and can wait to see how the inflation numbers come in.
Startup founder’s gesture surprises Chase employee
Hetal Retail, an early-stage software developer based in New York City, has an unusual connection to the Hoosier state—its name was selected in part to honor the Indianapolis bank employee who helped the company get off the ground.
Former Carmel investment adviser sentenced to 4 years in $4.7M embezzlement scheme
Instead of investing his victim’s money, the plea agreement says, Christopher Turean spent it on gambling and paying down a home equity loan.
Visa, Mastercard reach $30 billion swipe-fee deal with merchants
In recent years, merchants have grown increasingly vocal about their opposition to credit card fees, which typically amount to about 2% of a purchase and totaled more than $100 billion last year.
IBJ Podcast: Ball State hoops star turned bank CEO talks leadership tips, that UNLV game and making moves
Mark Hardwick’s journey as a distinguished Ball State alum continues. He was a key player during the Cardinals’ run of NCAA and NIT appearances, and now he’s CEO of fast-growing First Merchants Bank after nearly 20 years as CFO.
Powell might provide hints of whether Federal Reserve is edging close to rate cuts
A key question for Federal Reserve Chair Jerome Powell and the 18 other officials on the Fed’s interest-rate-setting committee is how—or whether—recent inflation figures have altered their timetable for cutting rates.
Retailer Joann files for Chapter 11 bankruptcy protection
The fabrics and crafts retailer, which has five Indianapolis-area stores, will become privately owned after emerging from Chapter 11 bankruptcy protection.
Elanco digs in for fight with activist investor
Ancora Holdings Inc. is pushing for a shakeup in leadership at he Greenfield-based animal health company, which it accuses of delivering poor margins, sluggish product commercialization, negative shareholder returns and poor governance policies.
Indianapolis financial advisory team leaves Stifel for Sanctuary Wealth
In an unusual about-face, two veteran Stifel advisers who were expected to be part of the newly formed M&K Legacy Wealth team at Sanctuary called off the move just days after the founding was announced.
Bitcoin briefly hits an all-time high, two years after FTX scandal clobbered crypto
The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap.