John Keach Jr., the third generation of his family to lead Indiana Bank & Trust, looked into the future and wondered how—given the lackluster economy and increasing costs for everything from employee benefits to regulatory compliance—it would generate robust earnings growth.
Evansville-based Old National will absorb 20 Indiana Community branches, including three on the southern edge of Indianapolis. Indiana Community Bank & Trust has nearly $985 million in assets.
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building’s tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.
The Evansville-based financial services holding company reported third-quarter profit of $16.8 million. Earnings would have been even better without expenses related to its purchase of Integra Bank.
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.
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.
Almost 60 employees of Old National Bank and Monroe Bank are losing their jobs as the financial institutions combine their operations.
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.
A sale is suddenly more appealing to Monroe Bancorp and other financial institutions that used to be fiercely independent.
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
The Evansville-based bank reported a third-quarter profit of $11.9 million, up from $4 million in the year-ago period.
Monroe Bancorp subsidiary Monroe Bank is the largest bank headquartered in Bloomington. With nearly $850 million in assets, it has 15 branches in central and south central Indiana, including locations in Noblesville and Avon.
Robert E. Tolle pleaded guilty Thursday in federal court of making fraudulent bank entries while serving as a loan officer at the Indianapolis office of Evansville-based Old National Bank.
Singed by the downturn, banks are winnowing real estate portfolios.
A naming-rights lawsuit brought by The Murat Temple Association against California-based event promoter Live Nation and Evansville-based
Old National Bank has been dismissed.
The Evansville-based bank reported a 9-percent increase in second-quarter profit, helped by a continued reduction in non-interest
expenses and growth in commercial loan and business checking account activity.
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.
Prosecutors say Robert Tolle falsified a construction progress inspection report while at Old National Bank. He faces a maximum
30-year prison sentence and $1 million fine.
Evansville-based Old National Bancorp on Monday reported a first-quarter profit of $10.1 million, up
84 percent from the prior-year period and a big improvement from the fourth quarter of 2009, when the company posted a loss
of $9.3 million.
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank
over a naming-rights deal announced March 16.
