Foreclosed properties create quandary for financial institutions
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
Indiana Banks
Articles
Indiana banks accepting TARP funding
Many of Indiana’s banks jumped at the chance to apply for a share of the federal government’s capital-infusion program, and
ones that win approval likely will accept the funds designed to shore up still-healthy financial institutions.
Greensfork Township State Bank to acquire local startup that failed to live up to high hopes
A rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.
First Indiana sells bank
Indiana’s largest locally based bank, First Indiana Corp., decided to end 92 years of independence in 2007, agreeing in July
to sell itself to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash, or $32 a share.
First Indiana Bank’s sale timing paid off
First Indiana Corp.’s announcement that it would be sold to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash
came just 17 days after sale discussions began. Banking observers have speculated for weeks that First Indiana acted fast
to cut a deal before it would have to report second-quarter results.
First Indiana’s new marketing plan features superhero mascot
First Indiana Corp.’s new marketing campaign features a superhero sporting an orange cape and a white jumpsuit with the First
Indiana logo. But First Indiana Man is just a means to introduce the real star of the bank’s most aggressive marketing and
account-growth effort in a decade: a free checking account the bank hopes will generate 20,000 new accounts in the next year.
Dispute clouds Sky buyout of Union Federal
Union Federal Bank’s Fort Wayne-based parent is locked in a dispute that could put in peril the Indianapolis financial institution’s $330 million sale to Bowling Green, Ohio-based Sky Financial Group Inc.