Changing times for the bank branch
In-branch transactions are declining as customers complete more business via online and mobile banking. Still, banks say physical offices remain important for a variety of reasons.
Regional/National Banks
Articles
Bank of America’s existing base is advantage in entrance here
Bank of America already has customers here, but is now opening an actual branch—in the street-level retail space in the new Cummins Inc. distribution headquarters downtown.
Smaller banks gobbling up market share
But heavyweights Chase Bank and PNC Bank between them still have more than a 40 percent market share, according to recently released federal data.
In economic ballgame, U.S. is in ‘seventh inning,’ strategist says
The chief investment strategist for Fifth Third Bank on Friday tried to temper optimism in an economic forecast for 2017, noting global headwinds that could curtail growth.
Banks ramp up push to bring ‘unbanked’ into fold
Financial institutions in central Indiana are increasingly rolling out services aimed at the 765,000 Hoosier households who have no banking relationship or have accounts but also use alternative financial services such as check-cashing shops.
Fifth Third Bank to shed 44 branches system-wide
Cincinnati-based Fifth Third has about 44 branches and about 490 employees in the Indianapolis area.
Bank bucks trend by opening teller-less branch in grocery
Some banks have been closing their mini-branches in stores, but PNC Financial Services is applying the trend toward automated transactions to its new location in Carmel’s Market District Supermarket.
FBI offers $20K reward in former Fifth Third banker’s death
The FBI on Tuesday offered a $20,000 reward for information that could help solve the 2011 killing of a U.S. banking executive who spent a significant part of his career in Indianapolis.
BMO Harris Bank cutting employees in restructuring
BMO Harris Bank, the area’s fifth-largest bank by deposits, is trimming about 4 percent of its workforce as it adapts to changing customer habits.
Longtime Huntington exec Newbold plans retirement
Mike Newbold, regional president for Huntington National Bank in the central Indiana market since 2006, plans to retire this summer, Huntington Bancshares Inc. announced Tuesday morning.
JPMorgan Chase agrees to $905,000 settlement with state
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
Indiana probing JPMorgan’s church trust practices, sources say
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.
Outside banks nab deposits in Indy
Several out-of-town community banks have launched a full-court press on Indianapolis over the past decade and are seeing solid traction. Experts say they’re coming here because per-capita income and populations in their own back yards are growing more slowly and, in some cases, even declining.
First Financial buying Indy lender in $110M deal
Cincinnati-based First Financial Bancorp has agreed to pay $110 million to acquire Indianapolis-based Oak Street Holdings Corp., a lender to insurance agents and brokers, the bank announced Thursday afternoon.
Fifth Third Bancorp ready to close about 100 branches
Fifth Third Bancorp said it plans to close or consolidate about 100 branches and has abandoned plans for 30 new ones. The company has more than 40 branches in the Indianapolis area.
Chase closing student lending office, laying off 73
Expected to take effect in May, the Indianapolis layoffs are part of a company-wide strategy to wind down student loan services.
Old National to close 5 Indy-area bank branches
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.
Prominent jeweler retrenches after auction of inventory
Despite an auction of inventory to satisfy a debt, Aronstam Fine Jewelers is in no danger of closing, the store’s owner says, thanks to the help of outside investors.
Veteran Indy banking executive Heyworth dies
Anthony Heyworth, a long-time central Indiana banking executive, served on the boards of several companies and not-for-profits.
Key taps veteran Indy banker to oversee 3-state region
KeyCorp said Leo G. “Skip” Watson will be its regional sales executive for the Great Lakes, overseeing operations in Indiana, Ohio and Michigan.