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.
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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.
Bluebridge secures $2 million in venture funding
The equity round, led by Carmel-based Allos Ventures and St. Louis-based Cultivation Capital, is the third round of financing for the company in less than a year.
Land near hot Fishers interchange set for sale after default
A couple of months after the sheriff's sale of the Fishers Banquet and Conference Center, an adjacent property with the same owners also is headed to auction.
Durham may see little payoff from dismissal of two counts
When Judge Jane Magnus-Stinson sentenced Durham to 50 years in 2012, she said there was no point to handing down a sentence that was a multiple of his likely life span.
U.S. stocks slide, pushing Dow into red for year
Stocks have sagged in the past two weeks as investors try to assess if Federal Reserve policymakers will raise their benchmark interest rate later this year for the first time since the recession.
High-profile broker Buck faces rash of complaints
Thomas J. Buck, who was fired by Merrill Lynch in March and hired by RBC Wealth Management in April, received five complaints from investors between March 23 and May 4, according to the Financial Industry Regulatory Authority.