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Banking & Finance
Former Huntington National Bank exec alleges age discrimination
November 28, 2009
Peter SchnitzlerMichael Lewis, 53, filed a complaint with the Indianapolis office of the U.S. Equal Employment Opportunity
Commission Aug. 13 and sued Huntington Oct. 15 in Marion Superior Court.
MoreBrizzi dropped plan to serve on board of Durham company
November 25, 2009
Greg AndrewsMarion County Prosecutor Carl Brizzi said he agreed this fall to serve on the board of Tim Durham’s Fair Finance
Co., but changed his mind several weeks later after Durham told him a newspaper was working on an investigative
story about the company.
MoreUPDATE: FBI searches Durham-owned company offices
November 24, 2009
Greg AndrewsOhio securities regulators say Tim Durham's Fair Finance Co. won't be permitted to sell additional investment certificates
unless it satisfactorily answers a series of questions about the company's ability to pay them back.
MoreFalling property prices fuel new wave of bank woes
November 21, 2009
Peter SchnitzlerThe second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial
real estate loans.
MoreDebt-shedding efforts start to pay off for Brightpoint
November 21, 2009
Greg AndrewsThe wireless phone wholesaler had survived two prior recessions and recognized the spoils in tough times go to companies with
the strongest balance sheets.
MoreRELLER: Refinancings likely to undermine prices for commercial real estate
November 21, 2009
Ross RellerBuyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
MoreNatCity name to remain at local branches until early 2010
November 16, 2009
IBJ StaffPittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
MoreRokita builds rep as tough enforcer of securities laws
November 14, 2009
Peter SchnitzlerSecretary of State Todd Rokita has relied on fines and fees to greatly increase his office's firepower without a tax hike.
MoreIndiana bank CEOs get bigger pay hike than peers
November 14, 2009
IBJ StaffFor banks, the last two years have been among the most tumultuous in history. Financial institution CEOs across the country
responded by trimming their raises in 2009. But in Indiana, bank chiefs didn’t follow form.
MoreSKARBECK: Getting a good price hinges on stock's value
November 14, 2009
Ken SkarbeckMaking investment decisions based on where a stock price has been in the past or betting on where it may go in the future
is futile and foolish unless the investor has determined the value of the stock.
MoreAdesa parent turns profit on lower revenue
November 10, 2009
Carmel-based KAR Auction Services Inc. on Monday said the company turned a profit in the third quarter, although revenue decreased
slightly.
MoreMajor stock indexes climb to yearly highs
November 9, 2009
Associated PressMajor stock indexes rose as much as 2 percent, including the Dow Jones industrial average, which jumped 203 points.
MoreFailed Charlotte skyscraper brings Indianapolis developer back to earth
November 7, 2009
Greg AndrewsThe Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas,
with more floors
than any building in the region except the Charlotte headquarters of Bank of America Corp.
MoreHuntington National Bank's assets fell because partnership ended
November 7, 2009
IBJ StaffLast week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
why.
MoreLoan losses contribute to First Internet's poor earnings
November 4, 2009
Indianapolis-based First Internet Bancorp on Wednesday said it lost $208,806 in the third quarter, as loan losses continued
to increase.
MoreBlue River posts loss on poor loan climate
November 4, 2009
Shelbyville-based Blue River Bancshares Inc. on Tuesday night said mounting loan losses contributed to a third-quarter loss
of $356,000.
MoreFirst Merchants posts quarterly loss on bad loans
November 2, 2009
Muncie-based First Merchants Corp. said Monday afternoon that loan charge-offs contributed to a loss of $6.4 million in the
third quarter.
MoreEconomic turmoil hasn't shaken up local banks' market shares
October 31, 2009
Peter SchnitzlerOne 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.
MoreSteak n Shake's Biglari adds intrigue by buying stake in insurer
October 31, 2009
Greg AndrewsThe Indianapolis-based company's CEO revealed earlier this year that he intends to use Steak n Shake as a holding company
that will pursue purchases “either related or unrelated to its ongoing business activities.”
MoreHICKS: Recession results in 'great deleveraging'
October 31, 2009
Mike HicksOn virtually every meaningful measure, this recession stacks up as only the third or fourth worst post-World War II recession,
but its effects are much more profound in a few areas. One area that will be most apparent is the changes the economy has
wrought on consumer credit.
MoreSKARBECK: Lenders still not serious about serious reform
October 31, 2009
Ken SkarbeckThe early signs point to meek efforts by the Obama administration to address gaping regulatory issues.
MoreOld National reports earnings well below expectations
October 26, 2009
IBJ StaffEvansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted
share, missing
consensus analyst expectations by about 5 cents per share.
MoreRelated-party loans pile up at Durham-owned finance firm
October 24, 2009
Greg AndrewsIndianapolis businessman Tim Durham has treated Ohio-based Fair Finance Co. almost like a personal bank since buying it seven
years ago, and now he, his partners and related firms owe it more than $168 million, records show.
MoreFirst Financial gets sweet deal on Irwin Financial's bank assets
October 24, 2009
Greg AndrewsIt’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
MoreLocal lenders support small-biz loan initiative
October 22, 2009
Scott OlsonSmall business lenders in Indianapolis are supporting a proposal announced by President Obama Wednesday that would increase
the size of government-backed loans.
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With the way this lovely couple met, it's amazing their business failed. I mean, I'm young and easy going but I wouldn't trust her or him as far as I could throw them
You agreed to make a law to take peoples children out of there home for any little thing I feel like if there is no abuse no violence no neglect no molestation you shouldn't take children from their homes if there not in danger or harm people that do drugs shouldnt loose their kids because they have an addiction they should be helped in wich way they can taking children out of there homes is not the answer nor the solution 90% of time you make the situation worser than what it is do you think that it's fair to the children putting them through this who would even ever come up with this its unfair one of the presidents used marjuana did they take his children or freedom the law is crooked and its alot of dirty people taking advantage of it god isn't unfair to us so we shouldnt be unfair to others something needs to be done about now not later this world is corrupt and the people in it this is a disgrace to man kind I'm going to pray for justice
Getting to perform there again!