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.
Federal Reserve Chair Janet Yellen sought Tuesday to reassure investors that she will support the approach to interest-rate policy that her predecessor, Ben Bernanke, pursued before he stepped down as chairman last month.
Local banking veteran and community leader Albert J. Smith Jr. is eight years older than his predecessor, who retired in January.
A2SO4 Architecture LLC has begun to wind down operations as a bank forecloses on a couple of construction loans for its new headquarters with a total balance of more than $1 million.
Warsaw-based Lake City Bank has opened a 3,700-square-foot branch on the northeast corner of State Road 37 and 131st Street.
Senate Bill 175 would restrict the use of credit checks in reducing credit scores.
The Office of the Comptroller of the Currency in June 2012 said it had identified "deficiencies in the Bank's overall program" for complying with the Bank Secrecy Act.
Rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.
Incidences like the recent data theft affecting 40 million Target customers could become more common as retailers, banks and credit card companies argue over who should pay for security upgrades.
The Federal Reserve's move Wednesday to slow its stimulus will ripple through the global economy. But exactly how it will affect people and businesses depends on who you are.
