Pittsburgh-based bank starts converting former National City operations in central Indiana to its brand this weekend. But
any snags could create
opportunities for competitors to pounce on customers.
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
Indiana Business Bancorp lost $519,043 in the first quarter compared with a profit of $32,252 during the same period a year
ago.
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest
banks and hurting the smallest.
Salin Bank argues that it wants to "control its own destiny" by selling 49 lots the homebuilder defaulted on rather
than have court-appointed receiver coordinate the sale.
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
The Indianapolis-based parent company of First Internet Bank of Indiana said on Monday that it earned $2.2 million in the
first quarter, compared with a loss during the same time frame last year.
Evansville-based Old National Bancorp on Monday reported a first-quarter profit of $10.1 million, up
84 percent from the prior-year period and a big improvement from the fourth quarter of 2009, when the company posted a loss
of $9.3 million.
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City
name.
Huntington National Bank, a subsidiary of Huntington Bancshares, operates nearly 50 branches and has about 600 employees in
the Indianapolis area.
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank
over a naming-rights deal announced March 16.
Rating system will help homebuyers avoid the risks of borrowing.
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry
is experiencing its deepest woes in decades.
Banks used to take pride in having long records of increasing dividends. Now, about all most can say is they still pay one.
Small, community banks will bet on their strength in customer service, and large banks will offer business customers lower
costs.
The PNC Financial Services Group said Monday it has brought in 2.8 million former National City Bank customers and converted
560 branches since a $5.6 billion buyout less than two years ago. Branches in Indiana are set to switch over in June.
Problem loans led to a $2.1 million loss for the Web-based financial company in 2009.
U.S. House legislators want to get to the bottom of banks' roles in the economic recovery, both via loans to small businesses
and shouldering losses on commercial real estate lending.
A long-time bank observer says regulators are twisting into pretzels to avoid taking over Indiana institutions.
