Pence elevates revenue chief of staff to commissioner
An attorney who once served as Indiana's public access counselor has been tapped as the new commissioner for the state Department of Revenue, replacing the retiring Mike Alley.
Banking & Finance
Articles
Ball State yet to receive any restitution in investment scam
Two men who were convicted of securities fraud after stealing $13.1 million from Ball State University have surrendered homes and sports memorabilia purchased with the money, but school officials say they haven't received any restitution.
Ball State investment policy bends to fossil fuel concerns
The shift comes more than a year after the school shut down four coal-fired boilers dating to the 1940s. That eliminated the school's annual burning of up to 36,000 tons of coal that released sulfur dioxide and other air pollutants.
Salin Bank gets a new CEO
James P. Alender has taken over as CEO of Indianapolis-based Salin Bank & Trust Co., a family owned bank with 19 branches and assets of more than $750 million.
Resurgence of Eli Lilly is touching all corners of region
Central Indiana's economy is diverse, but Lilly is such a behemoth that its ups and downs reverberate statewide.
Indiana upstarts ramp up VC fundraising in second quarter
Hoosier tech firms have sought to raise a total of $55 million in venture capital in the second quarter, according to public filings, up from about $39 million in the first quarter.
Former Ovation CFO arrested on multiple theft charges
The former chief financial officer for Ovation Audio-Video Solutions LLC has been arrested and charged with more than 20 counts of theft for allegedly misappropriating about $600,000 in company funds for his own use.
First Merchants to buy Ameriana for $69 million
It marks the second announced acquisition in less than a year for First Merchants, underscoring growth plans for the second-largest Indiana-based bank.
Durham fails to convince judge to reduce 50-year sentence
Convicted Ponzi scheme leader Tim Durham appeared in federal court in Indianapolis for a resentencing hearing Friday afternoon following the September dismissal of two fraud counts by the U.S. Court of Appeals.
Acquisition to nearly double OneAmerica’s retirement business
OneAmerica’s purchase of the U.S. retirement business of BMO Financial Corp. will add $26 billion in retirement assets to the $30 billion OneAmerica already manages.
Huntington leaving IPL’s top job to join OneAmerica
Kelly Huntington, president and CEO of Indianapolis Power & Light Co., has stepped down to become senior vice president of enterprise strategy at OneAmerica Financial Partners Inc., the companies announced Thursday.
State looks within to fill securities commissioner post
Alex Glass will be sworn in as securities commissioner on July 1, replacing interim commissioner Brandon Clifton, who has been filling the role for the past month after the abrupt resignation of Carol Mihalik.
If only HHGregg could rewrite its stock-buyback history
The struggling appliance and consumer electronics retailer, must be suffering from a bout of buyer’s remorse these days after plowing more than $150 million into share repurchases over the past four fiscal years.
Investors closely following potential merger wave
The takeover game is rampant among U.S. health insurers and stock investors are filling the stands.
Justices suspend Indy lawyer who ran $19M Ponzi scheme
Indianapolis attorney Charles Blackwelder already has pleaded guilty to a real estate scam in Hamilton County that involved more than 300 elderly Hoosiers.
City Securities paying $250K as part of SEC settlement
City Securities Corp. has agreed to pay $250,000 as part of an industry-wide settlement with the Securities and Exchange Commission over disclosure shortfalls in municipal bond offerings.
Fifth Third Bancorp ready to close about 100 branches
Fifth Third Bancorp said it plans to close or consolidate about 100 branches and has abandoned plans for 30 new ones. The company has more than 40 branches in the Indianapolis area.
Regulator suspends City Securities investment broker
The Financial Industry Regulatory Authority suspended a local broker for 20 days for allegedly executing client trades under his own discretion without written client consent.
Fed is moving toward rate hike, but just when still unclear
Many analysts predict that if the economy keeps improving, the Fed will raise its key short-term rate in September. That rate has been held near zero since 2008.
‘Bank for banks’ foresees rising demand
Federal Home Loan Bank of Indianapolis is seeing plenty of interest in affordable housing.