The Federal Reserve is raising its key interest rate and signaling confidence in the U.S. economy's durability but plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.
The segment crashed in the financial crisis that began in 2008, forcing banks to write off billions of dollars in loans. But it’s roared back since, and last year national commercial real estate lending surpassed its 2008 peak.
Completing the transaction will be highly profitable for the investment banking firms representing the institutions.
The number of financial institutions on the Federal Deposit Insurance Corp.’s problem-bank list has fallen below 100 for the first time in a decade.
The bank, which went public in October, says it saw especially strong growth in its multifamily mortgage business last year.
The turbulence coursing through markets has raised speculation that Fed officials might decide to slow their pace of rate increases out of fear of upsetting the markets and possibly harming the economy.
Paine spent 37 years in banking, starting with Indiana National Bank, where he rose to president and chief operating officer. At his retirement, he was president and CEO of the Indiana arm of NBD Bank.
House Bill 1319, which would allow the short-term loan industry to offer high-interest consumer loans, is opposed by veteran groups, religious institutions and consumer advocates.
The Federal Reserve said it expects the steadily strengthening economy to warrant further gradual increases in its benchmark rate.
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Cincinnati-based First Financial Bancorp and Greensburg-based MainSource Financial Group have agreed to sell off five bank branches in Indiana to resolve regulatory concerns that could stand in the way of their planned merger.
North American companies, which fell out of favor among acquirers last year, are back on the shopping list in 2018, making up almost 60 percent of all announced transactions in 2018.
OrthoPediatrics Corp. raised $52 million on Oct. 12, and Carmel-based Merchants Bancorp raised $115 million on Oct. 27.
Jerome Powell, 64, has served for 5-1/2 years on the Federal Reserve’s board. A lawyer and investment manager by training, many expect him to follow Janet Yellen’s cautious approach to interest rates.
The Fishers-based parent of First Internet Bank had another big year despite a small decrease in profit in the fourth quarter.
The “advanced centers” are intended to split the difference between standalone ATMs and regular branch offices.
Small companies are getting more interested in borrowing, but many are still finding it hard to get loans from banks, a quarterly survey shows.
Steve Alonso, the bank’s Indiana regional president, will take on a national-level position effective Jan. 1. Kevin Hispkind will be promoted to fill Alonso’s old job.
Banks aren’t usually among a community’s fastest-growing businesses. But most banks are vastly different from Carmel’s Merchants Bancorp.
Steps the Federal Reserve took Wednesday could lead over time to higher loan rates for consumers and businesses and slightly better returns for savers.
