CNO Financial plans $300 million sale of debt
Carmel-based CNO Financial Group Inc., the insurer formerly known as Conseco Inc., plans to sell $300 million of seven-year senior-secured notes, according to a company statement.
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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.
Indiana firm pays W. Virginia $175,000 in consumer case
West Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
Lender Oak Street acquired by New York firm
Carmel-based insurance lender Oak Street Funding LLC announced Thursday that it has been purchased by private equity funds managed by New York-based Angelo Gordon & Co.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
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.
LEADING QUESTIONS: Regional M&I prez buzzes on banking
Marathoner, mountain climber and career changer Reagan Rick approaches his work in finance with high energy and a lofty perspective. He discusses the thin air in today's lending environment.
JPMorgan Chase sues to foreclose on Durham mansion
The bank says Durham stopped making the required $18,329 monthly payments on the 30-year mortgage this spring.
Tim Durham closes New Castle restaurant
A sign on the door of Durhams Ristorante says the moderately priced Italian eatery will be "closed until further notice."
Banker who wreaked havoc fesses up to felony charge
Overseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
Appraisers have little to go on in tough deal market
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values
aren’t uncommon.
Developer facing legal action everywhere it has built condos
Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
Grameen Bank might open here, providing small loans that add up
Bangladesh-based Grameen Bank, the Nobel Peace Prize-winning financial institution that developed the concept of life-changing
micro loans for the poor, is contemplating opening its third U.S. branch in Indianapolis.
Battered banks don’t see light at end of tunnel
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
New Indiana law aims to promote safety of traditional loans
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
Report: Examiners failed to curb risky lending at Irwin Union
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
A new real estate crisis could wreck recovery
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
PNC Financial’s quarterly profit falls on bailout repayment
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City
name.
AIG’s American General unit said to be seeking $3B term loan
Bank of America Corp. is arranging a five-year loan that will be sold at a discount of 98 cents to 98.5 cents on the dollar,
according to a source who declined to be identified because the discussions are private.
Dealer Services Corp. has rival Adesa taking notice
Dealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.