Last week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
why.
Indianapolis-based First Internet Bancorp on Wednesday said it lost $208,806 in the third quarter, as loan losses continued to increase.
Shelbyville-based Blue River Bancshares Inc. on Tuesday night said mounting loan losses contributed to a third-quarter loss of $356,000.
Muncie-based First Merchants Corp. said Monday afternoon that loan charge-offs contributed to a loss of $6.4 million in the third quarter.
Evansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted share, missing
consensus analyst expectations by about 5 cents per share.
It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
Small business lenders in Indianapolis are supporting a proposal announced by President Obama Wednesday that would increase
the size of government-backed loans.
Community Bank of Noblesville and Blue River Bancshares Inc. of Shelbyville have seen loans sour
at a rate that might have seemed unimaginable before the housing market tanked and the recession set in.
Fees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is
expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are
particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June
30.
Evansville-based Old National Bancorp said yesterday that it has priced its public offering of 18 million shares of company
stock at $10 per share.
Up to the end, Columbus-based Irwin Financial Corp. anticipated a government bailout that never materialized.
State and federal regulators shut down the two banking subsidiaries of ailing Irwin Financial Corp. of
Columbus. The action makes Irwin Union Bank and Irwin Union Bank FSB the first financial institution failures in Indiana since
steep losses hit the industry last year.
Shares of Irwin Financial Corp. plummeted this morning after the banking company disclosed that regulators have ordered it
to bolster its capital by the end of the month to levels “it has no realistic prospect of achieving.”
Converse-based First Farmers Financial Corp. said this morning it has agreed to acquire CB Bank Shares Inc. in Russiaville.
Irwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible
suspension of its business.
Within a month of joining the board of Evansville’s Integra Bank Corp. Mike Alley, former CEO of Fifth Third Bancorp’s central Indiana operations, had become Integra’s interim CEO.
Old National’s purchase of 65 Charter One branches deepens its foothold in Indy.
Merchants Bank of Indiana, whose main office is in Carmel, books better numbers than any other Hoosier bank.
A national study finds that many community banks continue to prosper.
When Sen. Chris Dodd decided to wage war on corporate excess, he had Wall Street fat cats in his sights, not people like Bob Jones, the folksy CEO of Old National Corp. in Evansville.
