Banking & Finance

Ex-Chase chief to lead state banking agency

February 20, 2014
Chris O'Malley
Denny Bassett's appointment to the department that regulates state banks comes just a few months after his retirement as Indiana chairman of JPMorgan Chase & Co.
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Symbol of Durham’s opulence heading for a sheriff’s saleRestricted Content

February 15, 2014
Greg Andrews
Tim Durham's 10,700-square-foot Geist home has languished on the market for years with an asking price of $5.5 million.
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Auto industry strength boosts Indiana’s outlookRestricted Content

February 15, 2014
Economists at BMO Harris Bank are projecting “above average” growth for Indiana this year, citing a stronger auto sector and a healthier housing outlook.
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Savings account rates in Indiana among lowest in nation

February 12, 2014
Chris O'Malley
The study by GoBankingRates.com finds that the average return on savings at Indiana banks is 0.056 percent. However, the average for Indianapolis-area banks was considerably higher.
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Yellen to investors: Expect continuity at the Fed

February 11, 2014
Associated Press
Federal Reserve Chair Janet Yellen sought Tuesday to reassure investors that she will support the approach to interest-rate policy that her predecessor, Ben Bernanke, pursued before he stepped down as chairman last month.
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Smith shuns retirement for stint as Chase Indiana chair

February 11, 2014
Chris O'Malley
Local banking veteran and community leader Albert J. Smith Jr. is eight years older than his predecessor, who retired in January.
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Church scam investors may be repaid by end of 2014

February 10, 2014
Associated Press
Receiver Michael Rusnak said he hopes to finish repaying investors who lost money in the Alanar scam by the end of the year.
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CloudOne nabs $2.8 million in venture capital

February 10, 2014
Dan Human
The Indianapolis-based technology firm has landed more than $7 million in venture capital since it was founded in 2009.
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Architecture firm closing, renovated HQ on block

February 7, 2014
Scott Olson
A2SO4 Architecture LLC has begun to wind down operations as a bank forecloses on a couple of construction loans for its new headquarters with a total balance of more than $1 million.
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Charles Schwab may move jobs from California to Indiana

February 6, 2014
Associated Press
Charles Schwab Corp. said Thursday it is planning to move about 1,000 jobs out of San Francisco over the next three to five years.
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Indiana gets low-interest loans for tornado relief

February 6, 2014
Associated Press
Businesses, residents and some not-for-profits in 19 Indiana counties recovering from the November tornado outbreak can receive low-interest federal disaster loans.
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Industry providing cash advances for lawsuit payoffs fights bill

February 5, 2014
Associated Press
The director of a group of financing companies warned Wednesday that lawmakers "would eliminate this industry from Indiana" should they approve a measure targeting companies that provide cash advances to people awaiting payoffs in personal injury lawsuits.
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Pension board, lawmakers hash out annuity worries

February 4, 2014
Associated Press
The Indiana state pension system is pressing ahead with a proposal to privatize state employees' annuity savings accounts, even as legislators consider placing a hold on the move for five years amid widespread concerns that state workers would lose valuable benefits.
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Longtime Simon Property CFO stepping down

February 3, 2014
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world's largest mall developer.
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Hendricks County man sentenced for Ponzi scheme

January 31, 2014
 IBJ Staff
A Brownsburg businessman will serve two years in prison and 14 years on probation for his role in stealing $1.5 million from 24 investors in Johnson and Hendricks Counties, as well as Colorado.
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Senate amends corporate tax bill, rejects Democrats' efforts to strip key provisions

January 28, 2014
Olivia Covington,  The Statehouse File
Financial institutions would have to wait an additional three years to fully feel the effects of a statewide tax cut under changes made Tuesday to Indiana Senate Bill 1.
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Hawthorns Golf Club in Fishers files for bankruptcy

January 27, 2014
 IBJ Staff and Bloomberg News
The move comes after a lender filed a $4.8 million foreclosure lawsuit on the club and asked a Hamilton County court to appoint a receiver.
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Minimum wage bills pushed in at least 30 states

January 26, 2014
Associated Press
A pitch last week from Indiana Democrats was a nonstarter. But a Quinnipiac University poll this month found 71 percent of Americans in favor of raising the minimum wage—including more than half of Republicans polled.
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Indiana missing out on IPO fever

January 25, 2014
Chris O'Malley
A new law might encourage more companies to go public.
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Indianapolis-area mergers and acquisitions in 2013Restricted Content

January 25, 2014
The deals on this list do not include a transaction price.
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Investors seek payoff from Indiana oil wells that big players ignore

January 25, 2014
Chris O'Malley
Indiana is experiencing a mini oil-boom, thanks to some big producers, but some small, private investors are also in on the game, through Indianapolis-based Midwest Energy Partners, formed four years ago by former CountryMark executive Bill Herrick.
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Upstate bank expands central Indiana presenceRestricted Content

January 25, 2014
Warsaw-based Lake City Bank has opened a 3,700-square-foot branch on the northeast corner of State Road 37 and 131st Street.
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Investment firm ties crowd-funding to traditional fundraisingRestricted Content

January 25, 2014
Dan Human
The online investing marketplace Localstake brokered a little more than $1 million in private investments for an Indiana distillery and a solar-heating startup in 2013, through crowd-funding. Instead of receiving a T-shirt or other novelty for their money, as with typical crowd funding, contributors received an actual stake in the business.
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Bill would keep state's annuity system in-house

January 24, 2014
Halie Solea, The Statehouse File
The Indiana House is set to consider legislation that will prevent the state from privatizing one part of public employee and teacher retirement funds.
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Five questions: Indiana treasurer ponders course for yield rise

January 17, 2014
Bloomberg News
Richard Mourdock, a 62-year-old geologist and former coal-mining exec in his second term as Indiana treasurer, discusses his approach to managing $7 billion in state funds.
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