Banking & Finance

Local investors make big bet on senior housingRestricted Content

July 24, 2010
J.K. Wall
With the first baby boomers set to turn 65 in six months, investments in senior housing are heating up. A group of Indianapolis-area professionals—including Mark Waterfill (left) and Tony Schantz—have banded together to launch three senior housing projects around the state, spending $49 million and looking to do more.
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SKARBECK: Financial overhaul law leaves much uncertaintyRestricted Content

July 24, 2010
Ken Skarbeck
The public, to no surprise, is skeptical that the new regulations will succeed. A Bloomberg poll shows nearly four out of five Americans have little confidence the measures will prevent a crisis.
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HICKS: What we can learn from forecasting blundersRestricted Content

July 24, 2010
Mike Hicks
It begs the question, just what should economists be expected to know and how should we explain it?
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Small business lending measure clears filibuster

July 23, 2010
Associated Press
Community banks may soon be able tap a $30 billion government fund to help them increase lending to small businesses.
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Integra Bank unloads five Kentucky branches

July 23, 2010
Transaction is part of Evansville-based Integra's plan to narrow its geographic footprint, CEO Michael J. Alley said. The bank has 59 branches in Indiana, Kentucky, Illinois and Ohio.
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Historic financial overhaul signed into law by Obama

July 21, 2010
Associated Press
Rep. Mike Pence of Indiana, a member of the House GOP leadership, on Wednesday joined House Minority Leader John Boehner of Ohio in calling for the law's repeal.
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HICKS: To spend or cut taxes, that is the questionRestricted Content

July 17, 2010
Mike Hicks
The stimulus and array of bailouts have thus far done little to boost the economy. Neither is there good evidence they kept things from getting worse.
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Banker who wreaked havoc fesses up to felony charge

July 17, 2010
Greg Andrews
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.
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Ex-Indiana University player Leary pleads guilty in fraud

July 16, 2010
Associated Press
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds. His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly $295,000 in restitution.
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Lugar, Meadows projects get tax credits

July 13, 2010
Tom Harton
Two high-profile apartment projects that were denied tax-credit funding in March recently were awarded the millions of dollars in credits they need to proceed.
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SKARBECK: Short-term sizzle can't beat consistencyRestricted Content

July 10, 2010
Ken Skarbeck
To achieve outsized returns, whether in mutual funds or individual stocks, investors must avoid the hype and reliance on past outperformance.
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New Jersey names Indiana's Walsh to head investment division

July 8, 2010
 IBJ Staff and Bloomberg News
Timothy Walsh will take over a $68 billion pension fund, eight times larger than the $8.5 billion Indiana State Teachers Retirement Fund he headed since 2008.
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Secondary lender sues Chase over fire sale

July 8, 2010
Kathleen McLaughlin
Indiana Community Business Credit Corp. alleges breach of contract after JP Morgan Chase auctioned off assets of American Sentry Guard of Greenwood.
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Farmers Bank opening two branches in Hamilton County

July 7, 2010
Frankfort-based bank plans to open locations in Fishers and Noblesville as part of its plan to expand its presence in Hamilton County.
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Former loan officer charged with falsifying documents

July 6, 2010
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.
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Appraisers have little to go on in tough deal market

July 6, 2010
Tom Harton
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values aren’t uncommon.
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Bond swaps cost city units $93M in penalties

July 3, 2010
Cory Schouten
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied on misguided assumptions, and taxpayers paid.
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Vera Bradley files for $175M IPO

July 1, 2010
 IBJ Staff
The 28-year-old company reported profit in its latest fiscal year of $43.2 million on $288.9 million in sales.
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FBI scoops up Tim Durham's car collection

June 30, 2010
Greg Andrews
An agreement with Durham's attorney paved the way for FBI agents to pick up 18 cars from Durham's residences in Indianapolis and Los Angeles.
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Durham willingly turning over assets in Fair bankruptcy

June 26, 2010
Greg Andrews
Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on June 24.
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RUBENSTEIN: New law may put limits on residential seller financingRestricted Content

June 26, 2010
Clifford Rubenstein
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
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Durham attorney blasts FBI after vehicle seizures

June 25, 2010
Greg Andrews
Embattled financier Tim Durham's lawyer, Larry Mackey, said the FBI should have known a bankruptcy trustee had the titles. An attorney for the trustee said investigators were aware.
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Lawmakers approve big Wall Street revamp

June 25, 2010
Bloomberg News
Bill headed for Obama's desk would reform financial regulation in effort to protect consumers, curb risks, boost surveillance of threats to markets, and give regulators more emergency powers to avoid future bank bailouts.
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OneAmerica to acquire McCready and Keene

June 23, 2010
J.K. Wall
McCready and Keene Inc. is the fifth-largest employee benefits firm in the Indianapolis area. It employs 95 people nationally, 82 of them in Indianapolis, according to IBJ research.
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Sale of local funeral home, cemetery business finalized

June 23, 2010
Pennsylvania-based StoneMor Partners could pay up to $32 million for Memory Gardens Management Co. after trust-fund and debt obligations are made.
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