U.S. problem-bank list continues to shrink
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.
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Carmel-based Merchants Bancorp reports record profit for 2017
The bank, which went public in October, says it saw especially strong growth in its multifamily mortgage business last year.
Market’s turmoil could affect Federal Reserve’s rate decisions
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.
Banking titan Andy Paine dies at age 80
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 advances ‘hillbilly venture capital’ bill pushed by payday loan industry
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.
Fed leaves key rate unchanged at Yellen’s final meeting
The Federal Reserve said it expects the steadily strengthening economy to warrant further gradual increases in its benchmark rate.
Banks poised to reap big gains from tax reform
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Banks to sell off five Indiana branches as part of $1B merger
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.
Mergers, acquisitions off to hottest start since 2000
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.
Two Hoosier companies pull off IPOs
OrthoPediatrics Corp. raised $52 million on Oct. 12, and Carmel-based Merchants Bancorp raised $115 million on Oct. 27.
Senate approves Powell to follow Yellen as Federal Reserve chair
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.
First Internet reports record year for earnings
The Fishers-based parent of First Internet Bank had another big year despite a small decrease in profit in the fourth quarter.
Bank to open 3 more local offices, but with no employees
The “advanced centers” are intended to split the difference between standalone ATMs and regular branch offices.
Survey: Small businesses more interested in loans
Small companies are getting more interested in borrowing, but many are still finding it hard to get loans from banks, a quarterly survey shows.
Fifth Third Bancorp announces local executive promotions
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.
Unconventional bank racks up torrid growth
Banks aren’t usually among a community’s fastest-growing businesses. But most banks are vastly different from Carmel’s Merchants Bancorp.
Fed makes third rate increase this year, foresees three more in 2018
Steps the Federal Reserve took Wednesday could lead over time to higher loan rates for consumers and businesses and slightly better returns for savers.
Merchants Bancorp co-founder to retire amid executive shuffle
The Carmel-based financial company also announced promotions for two other top executives.
Powell pledges to pursue Fed’s employment, inflation goals
Jerome Powell, President Donald Trump’s pick to lead the Federal Reserve, pledged to pursue the U.S. central bank’s goals of stable prices and maximum employment while keeping a watchful eye on financial sector risks.
Fed leaves key rate unchanged but hints at future hikes
With a new Federal Reserve leader about to be announced, the Fed is hinting that it's preparing to resume raising rates as the economy shakes off the effects of recent hurricanes.