The Fed will likely approve a fifth cut in its monthly bond purchases because the job market has strengthened. But no clear signal is expected on when it will start raising short-term interest rates from record lows.
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.
An Indianapolis woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
Two executives with the Evansville-based lender received big stock awards in connection with the company’s IPO. The awards put the pair No. 1 and No. 2 on IBJ’s list of highest-paid Hoosier executives.
First Farmers Financial Corp. said Thursday it is assuming deposits of nine BMO Harris Bank branches in Indiana. It will acquire seven of the nine branch buildings and employees of all nine branches.
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
Greensburg-based MainSource Financial Group agreed Monday to pay $34 million in cash and stock for MBT Bancorp, the parent of Merchants Bank and Trust Co.
A second regional bank in the metro area in as many months has announced a change in its state leaders and area boundaries.
Carmel-based Merchants Bancorp announced in May 2013 that it would merge into Mooresville-based CITBA Financial Corp.—a deal initially so warmly received by CITBA shareholders that the company’s stock shot up 87 percent.
Although mortgage-refinancing applications are down, the product reviled and thought extinct after the 2008 housing crash that decimated property values may save the day for lenders: the home equity loan/line of credit.
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction’s building at 6002 N. Michigan Road, and on personal property.
Fifth Third Bancorp has combined its Central Indiana and Southern Indiana units into a single affiliate. Nancy Huber, CEO of the company’s Central Indiana region since 2009, will retire May 15.
At first blush, a poll that suggests 40 percent of Hoosier businesses plan to invest money into their business this year sounds promising.
Consumption in emerging markets across the globe is growing fast, according to Chase Bank. Executives of several Indiana firms share their successes and mistakes when establishing operations outside the U.S.
Banks and credit unions facing more competition from online lenders—and now even from big-box stores offering financial products—are working harder to get a bigger piece of a customer’s wallet over the long haul.
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank’s state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
Denny Bassett’s appointment to the department that regulates state banks comes just a few months after his retirement as Indiana chairman of JPMorgan Chase & Co.
Economists at BMO Harris Bank are projecting “above average” growth for Indiana this year, citing a stronger auto sector and a healthier housing outlook.
The study by GoBankingRates.com finds that the average return on savings at Indiana banks is 0.056 percent. However, the average for Indianapolis-area banks was considerably higher.
