An activist investor from Illinois began scarfing up shares of Ameriana Bancorp in 2010. He soon pushed for a sale—a wish that was granted in June when the New Castle institution agreed to be acquired for $69 million.
Now we know exactly how much of a fortune—or not—that larger, Indiana-based banks are generating from those ill-timed debit and ATM transactions.
James P. Alender has taken over as CEO of Indianapolis-based Salin Bank & Trust Co., a family owned bank with 19 branches and assets of more than $750 million.
It marks the second announced acquisition in less than a year for First Merchants, underscoring growth plans for the second-largest Indiana-based bank.
Merchants Bank of Indiana plans to move its corporate headquarters into a 100,000-square-foot building to be constructed in Carmel’s Midtown development. The $25 million project also will contain a multi-vendor retail operation.
The Indiana-based bank holding company’s quarterly earnings met analyst expectations, but revenue fell slightly short of predictions.
The number of in-store bank branches—mostly at grocery stores—has been trending downward for years, and in the coming months they’ll be all but gone from Indianapolis.
First Internet Bank of Indiana, which was founded in 1999 as one of the nation’s first online-only banks, has exceeded $1 billion in assets, it announced Friday.
The branches pegged to close locally are all in-store locations, several of which were assumed in 2009 when the Evansville-based bank bolstered its Indianapolis presence with its acquisition of Charter One.
As of June 30, First Merchants Bank had amassed $958 million in deposits at 27 Indianapolis-area offices, placing it 10th, Federal Deposit Insurance Corp. data shows.
One of the state’s largest privately held banks could bring in as many as 500 new shareholders to help fund growth. A planned acquisition fell apart early last year.
The deal gives First Merchants a stronger foothold in affluent Hamilton County, and a total of 107 locations in three states.
JPMorgan Chase argues it did a "solid" job managing trust accounts endowed by Eli Lilly Jr. The banking giant says the church's lawsuit cherry-picks facts and paints a "grossly inaccurate picture."
John Reed, 70, one of the state’s leading experts in bank mergers and acquisitions, starts a new job Monday with City Securities Corp. after 23 years with the local office of Chicago-based David A. Noyes & Co.
Former Indy Chamber President John Myrland has been hired by Old National Bank in the new position of community engagement executive for its Indianapolis region, the bank announced Thursday.
The FDIC says 57.5 percent of banks reported an increase in profit in the second quarter from a year earlier. They reduced their expenses, and lending marked its fastest pace since 2007.
A slide in mortgage-banking income hurt earnings, but net-interest income, commercial loans, deposits and assets were all on the rise.
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.
