New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest
banks and hurting the smallest.
Tim Durham’s Obsidian Enterprises Inc. plans to vacate the top floor of the state’s tallest building next month, real
estate sources say.
Local loans issued through the Small Business Administration’s popular 7(a) guarantee program plunged by an astonishing 64
percent for three of the city’s four largest banks during 2009, while overall lending in the program slipped 17 percent in
the metro area.
One of the toughest runs for the finance industry since the Great Depression didn’t lead to a major shakeup in Indianapolis’
banking landscape. Substitute PNC’s brand for National City’s, and the top eight positions remain unchanged.
