Former controller of Estridge Homes accused of $364K fraud scheme
Thomas Carter of Fishers has been charged with bank fraud after allegedly siphoning funds from his employer for more than three years.
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TD Ameritrade to buy Scottrade in $4B cash-and-stock deal
Online brokerage TD Ameritrade is buying Scottrade in a deal that would significantly expand its branch network at a time when many financial firms are expanding automated adviser programs.
First Internet reports record quarterly earnings
Fishers-based First Internet Bancorp on Thursday reported rising earnings for the ninth time in 10 quarters.
Veteran portfolio manager joins Stifel Nicolaus
Thomas Pence, one of the area’s most renowned stock pickers, has joined Stifel Nicolaus & Co. after 16 years as managing partner and portfolio manager with Wells Capital Management.
Hoosier VC haul soft in 3rd quarter, but year has been strong
Hoosier companies raised about $12.1 million from venture capitalists in the third quarter—a small haul compared to previous quarters, but enough to keep the state on track for a relatively strong year.
Victims to collect money soon in Veros case
The court-appointed receiver in an alleged $8.6 million Ponzi scheme perpetrated by Indianapolis-based Veros Partners Inc. is preparing to make his first distribution to affected investors.
Banks ramp up push to bring ‘unbanked’ into fold
Financial institutions in central Indiana are increasingly rolling out services aimed at the 765,000 Hoosier households who have no banking relationship or have accounts but also use alternative financial services such as check-cashing shops.
Banks look to pay more to retain employees
A survey found bank employees are changing jobs at the fastest pace in a decade, with non-officer turnover at 18.7 percent and officer turnover at nearly 7 percent.
PNC survey finds business owners are optimistic
Small and midsize business owners in Indiana expect the state’s economy will continue to grow at a slow and steady pace, even though they are dissatisfied with the economic plans of both presidential candidates, according to newly released data.
Software-as-a-service firm Zylo lands $3.3M in funding
Zylo, launched by Indianapolis-based High Alpha Studio earlier this year, received funding from three well-known names in the local tech community.
Smulyan extends his Emmis buyout offer yet again
The additional extension might be a sign Smulyan and the board are at odds over price. In a letter to directors evaluating the deal, Smulyan offered no details, stating, “Our entire team looks forward to further discussions … to complete a mutually acceptable transaction.”
Justices seem wary of limiting insider trading prosecutions
The Supreme Court on Wednesday seemed likely to preserve the government's broad power to crack down on insider trading on Wall Street.
Smulyan extends deadline for Emmis buyout offer again
In a letter to a special committee of the board of directors, Smulyan said he looks forward “to further discussions with the committee and its financial advisor and legal counsel to complete a mutually acceptable transaction.”
Risk-averse CNO caught up in hedge fund nightmare
A deal struck two years ago aimed at offloading the risks associated with a big block of long-term care insurance has come back to haunt the Carmel-based company in a big way.
Shareholders of Republic Airways flex muscle in bankruptcy
Two hedge funds that own a quarter of the stock argue the Indianapolis-based carrier, which flies commuter routes on contract for the nation’s biggest airlines, really wasn’t insolvent when the company filed for bankruptcy—a move that gave it the leverage to negotiate much more favorable pacts with Delta, United and American. And with those deals now sealed, the outlook is even brighter.
Federal Reserve keeps key rate unchanged but hints of coming hike
The Fed made clear in updated forecasts it issued Wednesday that it expects growth to remain tepid for at least three years.
I-69 construction woes lead to another bond downgrade
Standard & Poor’s has issued its second ratings downgrade as delays plague construction of the interstate between Bloomington and Martinsville.
Confluence Pharmaceuticals lands $1.3M in venture capital
Indianapolis-based Elevate Ventures said it made the investment through the 21st Century Research & Technology Fund, which is reserved for Indiana companies.
Vertellus pension plan to get $36M bailout from federal agency
A federal agency has stepped in to pay almost all of a $36 million shortfall in pension benefits for current and future retirees of Vertellus Specialties Inc., an Indianapolis-based manufacturer that is working its way through a Chapter 11 bankruptcy.
Local legal-tech firm secures $2.2 million for seed round
Doxly, a High Alpha Studio company, grabbed the cash in its first fundraising round and signed on the world’s largest law firm as a customer.