U.S. banks to pay $8.5B in mortgage settlement
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal.
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PROXY CORNER: Horizon Bancorp
Horizon Bancorp, 515 Franklin Square, Michigan City, Ind. 46360, operates as Horizon Bank and Heartland Community Bank.
Developer loses fraud appeal
The Indiana Court of Appeals affirmed Christopher White’s 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
Women’s physician building targeted for foreclosure
A lawsuit from the lender claims that Women’s Physician Group still owes $8.7 million on a $9 million loan it received for a northwest-side building.
Indiana SBA lending drops in 2012, but still exceeds 2010
Indiana businesses borrowed $424.7 million through U.S. Small Business Administration programs in 2012, an 18-percent decline from 2011, latest SBA statistics show.
First Internet Bancorp seeking to list on NASDAQ
The Indianapolis-based company said it has filed with the Securities and Exchange Commission to make the move from the over-the-counter board to the more active NASDAQ exchange.
Church’s fate in judge’s hands after insurance scheme sours
A federal judge will determine whether an Anderson church can exit bankruptcy with a lighter debt load, over objections from its bank lender, after a church scheme to profit by selling life insurance on its elderly members failed.
State going after underwriter of $5M Estridge offering
The regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which lost its entire $1 million investment when The Estridge Cos. collapsed.
Banks’ market rankings stable despite deposit shifts
BMO Harris and PNC lost some deposits, but the biggest local banks by market share remained the same.
Many banks still digging out from Great Recession trauma
The following statistics reflect performance of the 10 banks with the largest market shares in the Indianapolis Metropolitan Statistical Area.
Retailers await decision on $7.2B ‘swipe-fee’ settlement
In what could be the largest antitrust settlement in U.S. history, the agreement would resolve dozens of lawsuits filed by retailers against Visa Inc., MasterCard Inc. and the banks that issue their credit cards.
Banks eager to loan, but small firms hold back
Indiana banks can tout more success in small-business lending since the recession ended, but the success is hard-won because the masses of entrepreneurs remain cautious about borrowing.
M&I-BMO Harris changeover leaves some customers in lurch
BMO Harris Bank’s expansion in Indianapolis and other markets via its acquisition of M&I Bank is off to a rocky start as many customers still are unable to access their online banking accounts.
Creditor could take ownership of downtown Comfort Suites
The owner of the hotel, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy in February. German American Capital Corp., which is owed $12 million, could own the property by the end of the year.
MainSource making most of prime downtown spot
Part of former Borders bookstore space is marketing opportunity for Greensburg-based bank. The other half could be turned into lobby for Barnes & Thornburg.
Judge tosses out lawsuit blasting Irwin executives
A judge dismissed a lawsuit filed by Irwin Financial Corp.'s bankruptcy trustee, saying the only party with the right to bring suit was the bank’s receiver, the Federal Deposit Insurance Corp. It didn't do so by last month's deadline.
Bernanke: Economy growing much too slowly to put people back to work
Federal Reserve Chairman Ben Bernanke told a local lunch crowd that he expects the economy to keep growing, but he said the growth is so slow that it could create a "permanent group" of underemployed Americans.
Bernanke makes strong defense of Fed rate policies
In a speech in Indianapolis, Chairman Ben Bernanke offered a sharp defense Monday of the Federal Reserve's bold policies to stimulate the weak economy, while cautioning Congress to respect its private discussions.
Settlement allows Broadbent to keep downtown HQ
The Indianapolis developer will continue to own its corporate headquarters at 117 E. Washington St. after reaching a settlement with two banks that had filed a lawsuit to foreclose on the building.
Basketball legend Robertson target of bank’s lawsuit
Oscar Robertson’s money troubles in Ohio have been well documented lately. But in his hometown of Indianapolis, he’s trying to convince a judge that he’s not responsible for a $203,000 bank loan.