Indiana bank branches drop for sixth straight year
Banks operating in Indiana have been cutting branches since 2009, and the pruning continued in 2015.
Banking & Finance
Articles
How an Indiana tech guru built a fast-growing bank
People who know David Becker say he has long been a visionary. Still, they were a bit surprised when he launched First Internet. Now, it’s one of the area’s fastest growing banks.
Some executives already bracing for next recession
While many CEOs are planning for the next fiscal year, a cohort of local executives is planning for the next fiscal downturn. Group members have their eyes on 2019, forecast by some economists to be the year the next economic contraction arrives.
Activist scores big with Ameriana-First Merchants bank merger
An activist investor from Illinois began scarfing up shares of Ameriana Bancorp in 2010. He soon pushed for a sale—a wish that was granted in June when the New Castle institution agreed to be acquired for $69 million.
Fast-growing tech companies slow to go public
Indiana hasn’t seen a company launch an initial public offering in nearly two years. When the next IPO comes, it likely won’t be a technology company.
Few retailers ready for microchip credit, debit cards
As issuers roll out the more secure cards, few local retailers are ready to accept them ahead of the date when they become responsible for fraudulent transactions.
Yellen says she expects Fed to raise rates by year’s end
In a lecture Thursday, Federal Reserve Chairwoman Janet Yellen suggested that global economic weakness won't likely be significant enough to dissuade the Fed from raising its key short-term rate from zero by December.
Investment firm owner sentenced to 5-plus years for fraud
John K. Marcum, 51, of Fishers, received a 66-month sentence and was ordered make restitution of $3.9 million to 17 victims, including several who lost their life savings.
Indiana lawmakers push regulator to help Alcoa
Beer is giving one top U.S. financial regulator a headache. And so is a group of Indiana lawmakers, who want friendlier treatment for one of the state’s big employers.
U.S. stocks sink as investors mull Fed’s rate decision
U.S. stocks fell sharply Friday on concern about the outlook for global growth, one day after the Federal Reserve decided to hold off raising interest rates.
Globe-trotting financier launching angel firm
Indianapolis native Danny Chan, a managing director at Iconic Private Equity Partners, a Hong Kong-based firm, is back home in Indiana and ready to launch an angel investing group here that will help fund Hoosier startups of all stripes.
Five things to watch for from the Federal Reserve
Will the Fed raise the benchmark short-term interest rate from a record low on Thursday afternoon? Economists remain unsure, though the consensus seems to have shifted against the likelihood of an increase.
Hancock County man gets prison time for defrauding investors
A Hancock County man who defrauded 19 investors out of nearly $400,000 has been sentenced to 27 months in federal prison.
Software firm Emarsys lands $33 million in new funding
The Austrian software firm, which established its U.S. headquarters in Indianapolis in July, plans to use the money to fuel aggressive growth in North America and Central America.
Judge tosses lawsuit over Bank of Indiana’s flameout
The dismissal sidelines an array of allegations related to a soured purchase of bonds from prominent homebuilder Estridge Cos. and other transactions that went south.
U.S. unemployment rate falls amid modest job gains
Hiring in August was the slowest in five months. U.S. stocks opened lower Friday after the report left investors uncertain about the outlook for interest rate policy.
Student-loan giant USA Funds overhauls mission
USA Funds’ business is dying. But the Fishers-based not-for-profit with nearly $600 million in annual revenue is determined to find new life helping students pay for college degrees.
JPMorgan Chase settles suit over Christ Church trust accounts
The Monument Circle church suffered a setback in May after a judge threw out most of the case against the banking giant but give it a chance to refile most of its claims.
CEO’s abrupt exit raises questions about Stonegate’s future
Stonegate Mortgage didn’t give a reason for the sudden resignation of CEO Jim Cutillo, who founded the company in 2005. The surprise exit prompted analyst speculation that the Indianapolis-based company might be preparing to put itself up for sale.
UPDATE: U.S. stocks tumble as China slowdown deepens
U.S. stocks joined a worldwide selloff Tuesday amid continuing concerns that China’s slowdown will weigh on the global economy.