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Banking & Finance

Spate of banking mergers may be just the beginningRestricted Content

May 18, 2013
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.More.

Centerfield rounds up $171M for new fundRestricted Content

May 18, 2013
An Indianapolis private investment firm has raised one of the largest-ever funds in the state. Centerfield Capital Partners pulled in $171 million that it plans to invest in about 20 companies. Its two previous funds totaled $60 million and $116 million.More.

Firms ladle trips, car allowances on top of rich pay packagesRestricted Content

May 18, 2013
Senior executives at Indiana's public companies last year received, on average, more in perks than the typical Hoosier earned all year, IBJ found after reviewing Securities and Exchange Commission documents for more than 60 Indiana companies.More.

Leader of fraud scheme sentenced to 4-plus years

May 14, 2013
Michael Russell, 54, pleaded guilty in January to 20 counts of wire fraud and money laundering in a scheme involving former Indianapolis City-County Councilor Paul Bateman.More.

First Merchants' deal to make it state's second-biggest bank

May 13, 2013
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.More.
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  1. While I understand the severity of their actions as well as everyones eagerness to hold them responsible for thier lost funds, these gentlemen did know how to make money. Dispite thier poor decisions over the ownership of Fair they had made several wise investments which paid them greatly. This proves they do have the potential to rebuild so they can repay. I do not feel they should live the life of luxuary but given an opportunity could they find ways of repaying the debts? They are doing nothing now but being a burden on tax payers. Just a thought!!!!!

  2. For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !

  3. First Merchant's has a fiscal secret that must work. They held a second mortgage (the first mortgage was 'straw') on a piece of property in Madison County that was supposed to have a dump built on it. The 8.95% 30- year mortgage for $879,500 was issued in '79 and they let the statutue of limitations expire on their interest without receiving a penny in debt service! That was a loss of over $20M with accrued interest. I tried to get them to give me a mortgage like that but they weren't interested. Hmmm?

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