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.
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.
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.
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.
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.
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.
The Indiana Bar Foundation will only be able to use its settlement funds for programs covering mortgage foreclosures and community development, foundation leaders said.
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.
The owners of small and medium-size businesses in Indiana are not as enthusiastic about the economy and business outlook as their national counterparts.
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 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.
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.
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.
Some big Indiana credit unions are ramping up growth, undaunted by the increasingly competitive banking landscape.
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.
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 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.
U.S. stocks fell in midday trading Thursday, with the Dow Jones Industrial Average losing more than 300 points, as investors shunned risk worldwide.
Sydney "Jack" Williams, whose fortunes turned after he got mixed up in a $930 million Ponzi scheme, received the sentence Monday after pleading guilty to scheming with his wife to hide bank withdrawals before his 2010 bankruptcy.
Indiana-based banks have been spending less and less writing off bad loans over the past several years, a trend that suggests they’ve cleaned up their loan portfolios and might be willing to increase their appetite for risk.
