In-store bank branches fall out of favor
The number of in-store bank branches—mostly at grocery stores—has been trending downward for years, and in the coming months they’ll be all but gone from Indianapolis.
The number of in-store bank branches—mostly at grocery stores—has been trending downward for years, and in the coming months they’ll be all but gone from Indianapolis.
First Internet Bank of Indiana, which was founded in 1999 as one of the nation’s first online-only banks, has exceeded $1 billion in assets, it announced Friday.
“Branch of the future” is a hot phrase in banking circles, as technological changes and consumer habits prompt executives to rethink how much space and employees are needed at branches.
Maria Quintana, a Chase Bank Indiana executive widely credited with helping establish the bank here, is retiring at the end of the first quarter, the company announced.
The branches pegged to close locally are all in-store locations, several of which were assumed in 2009 when the Evansville-based bank bolstered its Indianapolis presence with its acquisition of Charter One.
The U.S. Supreme Court, without comment, left intact a Federal Reserve rule governing how much banks can collect for debit-card transactions.
As of June 30, First Merchants Bank had amassed $958 million in deposits at 27 Indianapolis-area offices, placing it 10th, Federal Deposit Insurance Corp. data shows.
Despite an auction of inventory to satisfy a debt, Aronstam Fine Jewelers is in no danger of closing, the store’s owner says, thanks to the help of outside investors.
One of the state’s largest privately held banks could bring in as many as 500 new shareholders to help fund growth. A planned acquisition fell apart early last year.
Nadine Givens climbed the ladder beginning from a childhood in which she worked at the convenience store her mother managed.
Anthony Heyworth, a long-time central Indiana banking executive, served on the boards of several companies and not-for-profits.
Hipskind, 47, who will lead Indian's central and northeast regions, is a 20-year veteran of the local banking industry.
The deal gives First Merchants a stronger foothold in affluent Hamilton County, and a total of 107 locations in three states.
Indianapolis-based Salin Bank and Trust Co. has tapped former Regions Bank executive John M. Belden for one of its community president positions.
KeyCorp said Leo G. “Skip” Watson will be its regional sales executive for the Great Lakes, overseeing operations in Indiana, Ohio and Michigan.
JPMorgan Chase argues it did a "solid" job managing trust accounts endowed by Eli Lilly Jr. The banking giant says the church's lawsuit cherry-picks facts and paints a "grossly inaccurate picture."
With the financial crisis and subprime mortgage bust receding further into history, the government is loosening some financial rules, hoping to inject more life into the country's still-recovering housing market.
See how the 25 largest banks operating in the Indianapolis area stack up according to their local assets.
After seemingly endless adversity, bankers anticipate brighter future. Look here to see how local institutions compare based on common measures.
New details on a cyberattack against JPMorgan Chase add to increasing doubts over the security of consumer data kept by lenders, retailers and others. The breach compromised customer information pertaining to roughly 76 million households and 7 million small businesses.