MainSource Bank snags prime former Borders space
MainSource Bank plans to open its first Indianapolis branch in part of the former home of Borders at the southeast corner of Meridian and Washington streets downtown.
Banks
Articles
South-side medical office building in foreclosure
Munster-based Citizens Financial Bank claims the owner of the building at 1340 E. County Line Road owes $4.1 million on a loan originating from 2002 and is seeking to have a court-appointed receiver manage the building’s operations.
Greenwood sues bank to collect $917,000 letter of credit
The City of Greenwood says a Minnesota bank owes it more than $900,000 to pay for street and sewer improvements left undone by the bankrupt developer of a mobile home park along U.S. 31.
JPMorgan Chase takes fire for ‘hedge,’ $2 billion loss
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
Hundreds losing jobs at local Aurora Bank office
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
Ex-bank exec Alley to take over Indiana revenue office
Former Fifth Third Bank president Mike Alley will take over as the state’s revenue commissioner. He’ll replace John Eckart, who resigned last week amid controversy over misplaced local option income taxes.
ALLEY: Where banks will find growth in the future
Demographics, technology will reward winning institutions.
SULLIVAN: New consumer agency could hinder economy
Protection must be balanced with allowing credit to flow
Developer Broadbent loses fight to keep finances under wraps
A newly public filing shows the co-founder of The Broadbent Co.’s net worth has fallen 60 percent, to $48 million.
Local PNC Bank exec joining law firm Krieg DeVault
Stephen A. Stitle will leave the bank to come aboard the law firm as a partner on May 1. Stitle has spent a combined 17 years at PNC and National City Bank, which PNC purchased in 2008.
Bank seeks $2M from estate of London Witte Group founder
The estate of Richard J. Salewicz, who died in 2010, is named in the foreclosure suit that also targets Tyson Corp., the company he owned on the southwest side of Indianapolis. Local accounting firm London Witte is not part of the court action.
Foreclosure sought for downtown’s Century Building
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
First Merchants shuns management from failed SCB Bank
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank’s CEO into the new ownership.
Feds take over SCB Bank in Shelbyville
Muncie-based First Merchants Bank will assume the deposits and some of the loans of SCB, the third Hoosier bank to fail since the banking crisis began three years ago.
Merger to give northwest Indiana bank local foothold
Horizon Bancorp of Michigan City announced Friday that it has agreed to acquire Heartland Community Bank of Franklin for about $14 million, or $9.72 per share.
13K Indiana foreclosure victims to get $2K checks
Indiana homeowners will receive about $43 million in refinanced loans while other borrowers will get $30 million worth of loan-term modifications and other relief as part of a $25 billion nationwide settlement with the country's biggest mortgage lenders.
Sale of storied bank reflects industry’s difficult times
John Keach Jr., the third generation of his family to lead Indiana Bank & Trust, looked into the future and wondered how—given the lackluster economy and increasing costs for everything from employee benefits to regulatory compliance—it would generate robust earnings growth.
Old National buying Indiana Community for $79M
Evansville-based Old National will absorb 20 Indiana Community branches, including three on the southern edge of Indianapolis. Indiana Community Bank & Trust has nearly $985 million in assets.
PNC’s Stitle to chair Central Indiana Business Hall of Fame event
The event honors men and women who epitomize success in the business world.
Salin Bank President Kit Stolen resigns
Alvin “Kit” Stolen joined the Indianapolis-based bank in August 2009 with big plans to boost its presence in the center of the state. The major expansion didn't materialize.