First Merchants acquires Noblesville-based bank
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
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Yellen says economy still needs Fed support
Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
First Financial nabbing new hub, closing 3 branches
Cincinnati-based First Financial Bank is shuffling its operations in the Indianapolis area, including moving its regional hub to a new downtown location and opening a high-profile branch in the same building.
High court sides with Fifth Third employees in dispute
The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
Indiana man pleads guilty in fake credit union case
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
Fed slows bond buying with fifth monthly reduction
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.
Investors to seek clues from Fed on rate increase
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.
Old National scoops up Lafayette Savings Bank for $42M
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.
Former Chase employee gets 16-month prison sentence
An Indianapolis woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
Stock tied to IPO catapults pay for Springleaf execs
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.
Indiana bank expands reach with branch acquisitions
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.
First Internet profit slides in first quarter
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
Banks whittle down Indy-area branches
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
MainSource strengthens Cincinnati foothold with acquisition
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.
Regions revamps Indiana territory as regional banks reshuffle
A second regional bank in the metro area in as many months has announced a change in its state leaders and area boundaries.
Bank merger that looked conflict-free goes off the rails
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.
Banks see resurgence of home equity loans
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.
Bank files to foreclose on Garcia Construction property
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 combines Indiana banking regions
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.
More hiring coming to Indiana?
At first blush, a poll that suggests 40 percent of Hoosier businesses plan to invest money into their business this year sounds promising.