Indianapolis-based banks struggle to emerge from slump
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
Indiana Banks
Articles
Indiana banks continue quest for tax consistency
Lobby prepares new pitch for next legislative session.
Fair sues Shelbyville bank over sale of Durham Duesenberg
Fair Finance Co.’s bankruptcy trustee sued Shelbyville’s SCB Bank this week, charging it refuses to turn over hundreds of thousands of dollars it raised by auctioning off one of Tim Durham’s most valuable automobiles, a 1929 Duesenberg.
Cost cutting planned by Integra Bank’s new owner
Old National Bank President Bob Jones said an undetermined number of jobs will be eliminated, with the bulk of them being branch managers and other management positions.
Merrillville-based bank targets Carmel
Centier Bank, a financial firm with 45 branches in northwest Indiana, has opened a business banking office in Carmel and is considering future expansion in the Indianapolis-area market.
Credit unions gun for more traditional bank business
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.
President transforms workplace culture at Farmers Bank
Few bank presidents gather their employees once a week and pass out plastic clapping hands to keep the beat to music pulsing full volume through the lobby. Fewer still climb atop a customer-service counter to open the early-morning pep rally with a full grin. Karen Miller does both.
Local banks see small-business lending surging
Chase and Fifth Third of Indiana saw 57-percent and 56-percent spikes, respectively, in loans to state businesses last year. They forecast similar growth this year.
Regulatory overload is community banks’ next big hurdle
Banks across Indiana are preparing for a deluge of new regulations that will cut into their bottom lines, make their businesses more complex and, in some cases, force them to consolidate.
First Internet Bancorp reports record annual profit
The parent of First Internet Bank earned $4.9 million in 2010 compared with a loss of $2.1 million the previous year.
Integra Bank’s auditor says situation may be dire
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
Tiny bank claims Stifel Nicolaus duped it on securities
The Peoples State Bank of Ellettsville says it was duped three years ago into investing more than $13 million into auction-rate securities just before those markets froze up. Now it’s suing its broker, Stifel Nicolaus & Co., to get the money back.
Old National Bancorp completes Monroe Bancorp buyout
Evansville-based Old National Bancorp on Monday said it completed its previously announced takeover of Monroe Bancorp of Bloomington, a deal worth about $90.1 million.
Sale of 118-year-old bank symptom of tough times
A sale is suddenly more appealing to Monroe Bancorp and other financial institutions that used to be fiercely independent.
Indianapolis banker sees progress, challenges at ailing Integra
Mike Alley, perhaps more than any other banker in the state, is experiencing the pain the economic crisis has wrought on the nation’s financial institutions.
Irwin Financial trustee poised to sue insiders
Court papers reveal officers and directors of the holding company for the failed Columbus-based bank will soon be defendants in a $40 million suit.
Old National profit rises
The Evansville-based bank reported a third-quarter profit of $11.9 million, up from $4 million in the year-ago period.
First Internet Bancorp quarterly earnings up again
First Internet Bancorp earned just over $1 million in the third quarter ended Sept. 30, compared to a loss of $208,806 for the same quarter of 2009.
Banks tread water as they wait for economy to improve
Banking experts say the health of Indiana institutions is taking baby steps forward along with the tepid economic recovery. But in these times, recovery looks grimmer than one might expect.
Hentschel ramrodding KeyBank development in Indianapolis
Exec adds branches, deposits, after completing a stint at a human-resources firm.