Banking & Finance

Related-party loans pile up at Durham-owned finance firm

October 24, 2009
Greg Andrews
Indianapolis 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.
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Opportunists hunt deals in commercial real estate

October 24, 2009
Cory Schouten
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial property.
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First Financial gets sweet deal on Irwin Financial's bank assetsRestricted Content

October 24, 2009
Greg Andrews
It’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.
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Indianapolis-based FAST Diagnostics gets funding from BioCrossroads' seed fund

October 24, 2009
 IBJ Staff
Money will help the company refine its tool to treat acute kidney injury.
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Local lenders support small-biz loan initiative

October 22, 2009
Scott Olson
Small 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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Second developer facing foreclosure on Fishers property

October 20, 2009
Scott Olson
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical to the project's development has been scheduled for liquidation by a lender.
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Indiana Members Credit Union signs Pacers sponsorship pact

October 17, 2009
 IBJ Staff
The agreement includes player appearances, a Pacers debit card, courtside signage, radio spots, hospitality and use of the Conseco Fieldhouse practice court for community relations initiatives.
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SKARBECK: Market a bright spot amid worrisome economyRestricted Content

October 17, 2009
Ken Skarbeck
The financial media have the corks ready to pop as the Dow Jones industrial average re-crosses what pundits claim is the â??psychologically importantâ?? 10,000 level.
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Dow Jones industrials close above 10,000

October 14, 2009
Associated Press
The Dow Jones industrial average is back above 10,000 for the first time in a year.
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Conseco shares soar on hedge-fund investment

October 14, 2009
J.K. Wall
Shares of Carmel-based life insurer soared as much as 26 percent, to $6.30 apiece, in morning trading after New York-based Paulson & Co. agreed to buy $78 million in Conseco stock and $200 million in company bonds.
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Study: Taxing services could yield state $6.8B

October 12, 2009
Peter Schnitzler
The non-partisan Indiana Fiscal Policy Institute this morning released a new study exploring the ramifications of expanding the state's sales tax to include services.
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Securities firm Stifel Nicolaus balks at fraud charge

October 10, 2009
Peter Schnitzler
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds were clients of Jeff Cohen.
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My Health Care Manager lands $3 million investmentRestricted Content

October 10, 2009
Peter Schnitzler
The company, which guides working adults and their parents through the maze of decisions and agencies involved in care for seniors, plans to use the money primarily to augment its sales staff and operations.
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FDIC fee hitting small banks particularly hardRestricted Content

October 3, 2009
Scott Olson
Fees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June 30.
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A pair of community banks see loan woes escalateRestricted Content

October 3, 2009
Greg Andrews
Community Bank of Noblesville and Blue River Bancshares Inc. of Shelbyville have seen loans sour at a rate that might have seemed unimaginable before the housing market tanked and the recession set in.
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Stock-market rebound lifts hopes of Hoosier mutual fundsRestricted Content

October 3, 2009
Peter Schnitzler
The economic downturn walloped all three of the mutual funds headquartered in Indiana. But they've each enjoyed significant recoveries this year. And the smallest of the bunch has big plans to break away from the pack.
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EDITORIAL: Program gives people a financial leg up

October 3, 2009
 IBJ Staff
Nearly 80,000 people in the city are “unbanked” and therefore lack this basic building block to financial health. A new program called Bank on Indy aims to change that.
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SKARBECK: Trading in failed firms really isn't 'investing'

October 3, 2009
Ken Skarbeck
Who is “investing” in these stocks and why? It is safe to say they are not investors who have done the exhaustive work of valuing the assets and liabilities, who then reached a conclusion that they were getting good value for their money.
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SEC fines former CFO of American Commercial Lines

October 3, 2009
 IBJ Staff
Christopher A. Black, a former investment banker in Indianapolis and former chief financial officer of Jeffersonville-based river barge transportation firm American Commercial Lines Inc., has agreed to pay a $25,000 fine to settle a Securities and Exchange Commission investigation.
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Exterior work on bank tower wraps up with Regions sign

October 3, 2009
 IBJ Staff
The Regions Bank name and logo are joining the city’s skyline atop One Indiana Square, also known as Regions Bank Tower.
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Banks work to protect electronic records from identity theft

October 3, 2009
Peter Schnitzler
Banks are fighting an ongoing battle with would-be identity thieves. Because banks are where the money is, the fight is likely to go on a long time, with both thieves and banks growing in sophistication.
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State charges Stifel Nicolaus didn't disclose risks of auction-rate securities

October 1, 2009
 IBJ Staff
An administrative complaint filed today by the Indiana Secretary of State's Office alleges Stifel Nicolaus failed to disclose risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
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Purdue student-inventor nabs VC on TV show

September 30, 2009
 IBJ Staff
A Purdue University student who invented a soy-based modeling dough walked away with a $300,000 investment after appearing Tuesday on the ABC show "Shark Tank."
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Spurned Sponsel creates own CPA firm

September 29, 2009
Scott Olson
A longtime partner of Indianapolis-based Greenwalt Sponsel & Co. Inc. has left the accounting firm and started his own after he said it became apparent he would not become managing partner.
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Carmel company plans to expand, add employees

September 28, 2009
Dealer Services Corp. announced Monday morning that it plans to create up to 60 jobs by the end of 2012 and invest $6.4 million in its Carmel headquarters.
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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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