Banks support proposed state legislation that could prevent Hoosier homeowners from using a settlement process to avoid foreclosure. But the sponsor of a bill with the controversial provision says he will strike it.
Evansville-based Old National Bank said it will purchase Anchor, the third largest bank in Wisconsin, in a stock-and-cash deal valued at $461 million.
The Muncie-based bank, which agreed to purchase New Castle-based Ameriana in June, had faced two shareholder lawsuits opposing the deal. Those lawsuits have been dropped.
Of the 654 congregations to file for bankruptcy protection between 2006 and 2013, 60 percent had black pastors or predominantly black membership, according to an associate professor at the Indiana University Maurer School of Law.
Shortly after the Fed's announcement, major banks began announcing that they were raising their prime lending rate from 3.25 percent to 3.50 percent. The prime rate is a benchmark for some types of consumer loans such as home equity loans.
The U.S. Federal Reserve is raising interest rates after seven years of record lows. But it's signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises.
The U.S. Federal Reserve is poised to raise interest rates Wednesday for the first time in 9-1/2 years. It may not take long to know whether its decision was correct. History is filled with cases when central banks raised rates prematurely, sometimes with dire consequences.
Main Street and Wall Street are fighting the U.S. Federal Reserve over municipal bonds—and they’re gaining ground.
Former Indianapolis Colts player Dwight Freeney can proceed with his lawsuit alleging that Bank of America Corp. was complicit in a fraud scheme that caused him to lose more than $20 million, a judge ruled.
Federal Reserve Bank of St. Louis President James Bullard said the Fed is “going to return to an era where there is a bit more uncertainty about what the committee is going to do, meeting to meeting.”
After a rocky two years as a public company, perhaps the best path forward for Stonegate Mortgage Corp.—now that the board has given the company’s CEO and founder his walking papers—is to pull the rip cord and sell the business.
Karen Miller, CEO of The Farmers Bank of Frankfort, died Nov. 6 after a two-year battle with cancer. She was 60.
Several out-of-town community banks have launched a full-court press on Indianapolis over the past decade and are seeing solid traction. Experts say they’re coming here because per-capita income and populations in their own back yards are growing more slowly and, in some cases, even declining.
According to the Federal Deposit Insurance Corp., at the end of 2008 Indiana financial institutions had $4.6 billion in small-business loans on the books that originated for less than $1 million. That figure stood at $3.8 billion this past June, about 17 percent lower.
Federal Reserve Chairwoman Janet Yellen and New York Fed President William Dudley said the central bank could boost interest rates as soon as next month, while Fed Vice Chairman Stanley Fischer voiced confidence that inflation isn’t too far below the goal.
First Internet Bancorp, the parent of First Internet Bank, has seen its stock rise 91 percent since the beginning of the year.
Muncie-based First Merchants Corp. is to acquire Ameriana for $69 million under the deal.
Warsaw-based Lake City Bank appointed Bill Redman to lead its Indianapolis commercial banking team.
Banks operating in Indiana have been cutting branches since 2009, and the pruning continued in 2015.
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.
