Banking & Finance

Stocks plummet on economic worries

May 25, 2010
Associated Press
The Dow Jones industrials plunged below 10,000 Tuesday as traders turned away from stocks amid worries about the global economy and tensions between North and South Korea.
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Business bank reports first-quarter loss

May 25, 2010
Indiana Business Bancorp lost $519,043 in the first quarter compared with a profit of $32,252 during the same period a year ago.
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Soft Landing: Pay slipped for most execs in 2009, but cuts weren't deep

May 22, 2010
Peter Schnitzler
Top executives at Indiana's public companies have largely been insulated from the economic crash. IBJ's review of executive pay found that, although 131 of the 238 executives listed in proxy statements the past two years saw annual compensation fall in 2009, only 10 experienced cuts of more than $1 million.
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New collateral rules for Indiana deposits may favor big banks

May 22, 2010
Peter Schnitzler
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest banks and hurting the smallest.
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KULT: Mortgage loan officers punch the clock under new ruleRestricted Content

May 22, 2010
Gregory P. Kult
The government now views loan officers more like factory workers than white-collar business managers.
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New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.
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SKARBECK: Exchanges' proposed fix for glitch is ludicrousRestricted Content

May 15, 2010
Ken Skarbeck
Is investing becoming a technology-rigged game for computerized gamblers who rent stocks for seconds or minutes and whose objective is to repeatedly skim small profits?
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PROXY CORNER: First Merchants Corp.

May 15, 2010
 IBJ Staff
First Merchants Corp. is a bank holding company that operates offices in Indiana and Ohio. For the year ended Dec. 31, 2009, the company reported a net loss of $45.7 million, or $2.17 per diluted share, on $281.6 million in revenue.
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HICKS: Fear, not economics, drives immigration debateRestricted Content

May 8, 2010
Mike Hicks
Mexico is in the throes of a violent lawlessness that is spilling over into the United States. Dealing with this is neither racist nor unconstitutional.
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Lender wants Hansen & Horn receivership terminated

May 6, 2010
Scott Olson
Salin Bank argues that it wants to "control its own destiny" by selling 49 lots the homebuilder defaulted on rather than have court-appointed receiver coordinate the sale.
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Report: Examiners failed to curb risky lending at Irwin Union

May 5, 2010
 IBJ Staff and Bloomberg News
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage borrowers with insufficient collateral.
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Emmis finds loophole for board on Smulyan buyout

May 1, 2010
Greg Andrews
State law normally requires board approval for buyouts. But the language cited in the letter of intent provides an exception for conflicts of interest or special circumstances.
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SKARBECK: Diversifying not sure fix for Lilly Endowment woesRestricted Content

May 1, 2010
Ken Skarbeck
Lilly Endowment has been a substantial Lilly stockholder for 73 years, so to focus on the past decade is a mistake.
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HICKS: How competition sped up broadband adoptionRestricted Content

May 1, 2010
Mike Hicks
Our study found that simply permitting deregulation of cable TV caused a pleasing increase in broadband adoption.
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Sale of Memory Gardens restores $20M in trust funds

April 30, 2010
Acquisition by Indianapolis-based funeral home and cemetery business by Pennsylvania-based company will preserve funds depleted by former owner.
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State finalizes auction-rate securities settlements

April 29, 2010
Scott Olson
Twelve investment firms agree to repurchase auction rate securities from Indiana clients for a total of over $370 million and to pay fines totaling more than $3.5 million.
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First Internet Bank profitable in first quarter

April 26, 2010
The Indianapolis-based parent company of First Internet Bank of Indiana said on Monday that it earned $2.2 million in the first quarter, compared with a loss during the same time frame last year.
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Old National improves first-quarter performance

April 26, 2010
 IBJ Staff
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.
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Clarian hospital system regains its appetite to buildRestricted Content

April 24, 2010
J.K. Wall
Clarian is planning to spend $1.7 billion in the next five years on capital projects, half of that going to its downtown Indianapolis campuses.
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A new real estate crisis could wreck recoveryRestricted Content

April 24, 2010
Greg Andrews
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due by the end of 2014.
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HICKS: Unemployment situation brings up questionsRestricted Content

April 24, 2010
Mike Hicks
Perhaps the biggest problem is in estimating who is in and not in the formal work force. Even in good times, a surprising number of workers labor in the shadow economy, invisible to government statisticians.
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PNC Financial's quarterly profit falls on bailout repayment

April 22, 2010
 IBJ Staff and Associated Press
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City name.
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Ohio congressmen seek to raid Indy defense accounting jobs

April 21, 2010
Chris O'Malley
U.S. Reps. Kucinich and LaTourette say about 225 Marine Corps IT jobs belong in Cleveland instead of Indianapolis.
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Huntington Bancshares reports first profit since 2008

April 21, 2010
 IBJ Staff and Bloomberg News
Huntington National Bank, a subsidiary of Huntington Bancshares, operates nearly 50 branches and has about 600 employees in the Indianapolis area.
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Lender suffers own painful loss after homeowner's deathRestricted Content

April 17, 2010
Greg Andrews
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
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  4. Elected officials, like Mourdock, get vested in 8 years. It takes 10 years for all other public employees, most of whom make a lot less money. So much for the promise to finish out his term.

  5. Great state treasurer and a good man!! Just curious if the folks who didn't quite understand his quote would like to tell my daughter-in-law that God didn't intend her! Mourdock's comment was correct but twisted and the article didn't mention that his opponent and the press let the impression stand that Mourdock meant that the rape was intended. Stupid people!!

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