FBI offers $20K reward in former Fifth Third banker’s death
The FBI on Tuesday offered a $20,000 reward for information that could help solve the 2011 killing of a U.S. banking executive who spent a significant part of his career in Indianapolis.
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BMO Harris Bank cutting employees in restructuring
BMO Harris Bank, the area’s fifth-largest bank by deposits, is trimming about 4 percent of its workforce as it adapts to changing customer habits.
Wells Fargo taps Martinez for Indy leadership team
Candelario Martinez has been named regional vice president with Wells’ Indiana middle market commercial banking operation, which serves private businesses with $20 million or more in annual revenue.
Feds reach $15M deal in suit over failed Indiana bank
Irwin Union Bank was one of a few Indiana bank casualties of the Great Recession. The Federal Deposit Insurance Corp., which sued three former officers in 2013, has reached a settlement with those defendants.
Longtime Huntington exec Newbold plans retirement
Mike Newbold, regional president for Huntington National Bank in the central Indiana market since 2006, plans to retire this summer, Huntington Bancshares Inc. announced Tuesday morning.
Years after Irwin Union’s failure, a lawsuit yields settlement
The FDIC has settled a lawsuit against four former executives of the bank. Meanwhile, in a separate suit a bankruptcy trustee continues to press his claims against three other executives.
Lizton Financial to acquire Indiana Business Bancorp
Indiana Business Bancorp, a community bank with a single branch on the north side of Indianapolis, has agreed to a $12.5 million merger with Lizton Financial Corp., a Hendricks County-based bank with 11 branches in central Indiana.
Fed likely to keep rates unchanged in face of global slump
With the global economy struggling and U.S. inflation still below the Fed's target rate, many economists see little likelihood of a rate increase even before the second half of the year.
First Internet reports record quarterly earnings
The Fishers-based parent of First Internet Bank said it earned $2.4 million in the first quarter and increased its loan portfolio beyond $1 billion.
Indiana Bar Foundation gets $7M from mortgage settlement
The Indiana Bar Foundation will only be able to use its settlement funds for programs covering mortgage foreclosures and community development, foundation leaders said.
Van Til named president of banking group, groomed for CEO
Amber R. Van Til joined the Indiana Bankers Association in 2002 as a lobbyist. She’s the first woman to hold the title of president.
Indiana businesses appear cautious about the economy
The owners of small and medium-size businesses in Indiana are not as enthusiastic about the economy and business outlook as their national counterparts.
Old National moving local base to Monument Circle
The Evansville-based bank has secured space in the IPL Building and plans to relocate local executives and a downtown branch there this fall.
Fed keeps key rates unchanged; foresees fewer hikes in 2016
Fed officials expect to raise rates more gradually this year than they had envisioned in December. The officials now foresee two, rather than four, modest increases in their benchmark short-term rate during 2016.
Investors to weigh Fed words for clues to future rate hikes
Most Fed watchers think the central bank wants more time to assess the financial landscape. Resuming its rate hikes too soon could slow growth or rattle investors again.
Fed official sees hints of too-low inflation moving up
Federal Reserve Vice Chairman Stanley Fischer said Monday that inflation in the U.S. may be starting to tick up from too-low levels, a key condition for further interest rate hikes.
Credit unions shed wallflower image, tread on banks’ turf
Some big Indiana credit unions are ramping up growth, undaunted by the increasingly competitive banking landscape.
Salin taps banking veteran to lead wealth management
In his new role, John W. Coughlin, a 25-year-veteran of Indianapolis banks, will drive the bank’s investment, retirement, trust and estate, and insurance services strategies.
JPMorgan Chase agrees to $905,000 settlement with state
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
Indiana probing JPMorgan’s church trust practices, sources say
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.