Banks

First Financial nabbing new hub, closing 3 branches

July 7, 2014
Mason King
Cincinnati-based First Financial Bank is shuffling its operations in the Indianapolis area, including moving its regional hub to a new downtown location and opening a high-profile branch in the same building.
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High court sides with Fifth Third employees in dispute

June 26, 2014
Associated Press
The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
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Indiana man pleads guilty in fake credit union case

June 25, 2014
 Associated Press and IBJ Staff
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
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Fed slows bond buying with fifth monthly reduction

June 18, 2014
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.
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Investors to seek clues from Fed on rate increase

June 18, 2014
Associated Press
The Fed will likely approve a fifth cut in its monthly bond purchases because the job market has strengthened. But no clear signal is expected on when it will start raising short-term interest rates from record lows.
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Old National scoops up Lafayette Savings Bank for $42M

June 4, 2014
 IBJ Staff
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National's portfolio.
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Former Chase employee gets 16-month prison sentence

May 27, 2014
Dennis Barbosa
An Indianapolis woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
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Stock tied to IPO catapults pay for Springleaf execs

May 24, 2014
Two executives with the Evansville-based lender received big stock awards in connection with the company's IPO. The awards put the pair No. 1 and No. 2 on IBJ's list of highest-paid Hoosier executives.
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Banks scrambling to find experienced workersRestricted Content

May 17, 2014
Chris O'Malley
Many banks let training languish in an era when consolidation made it easy to snap up veterans. Now, with boomers starting to retire, banks want to pass the baton smoothly.
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Indiana bank expands reach with branch acquisitions

May 9, 2014
Chris O'Malley
First Farmers Financial Corp. said Thursday it is assuming deposits of nine BMO Harris Bank branches in Indiana. It will acquire seven of the nine branch buildings and employees of all nine branches.
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First Internet profit slides in first quarter

April 24, 2014
 IBJ Staff
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
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Banks whittle down Indy-area branches

April 18, 2014
Chris O'Malley
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
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MainSource strengthens Cincinnati foothold with acquisition

April 8, 2014
Jeff Newman
Greensburg-based MainSource Financial Group agreed Monday to pay $34 million in cash and stock for MBT Bancorp, the parent of Merchants Bank and Trust Co.
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Regions revamps Indiana territory as regional banks reshuffle

April 7, 2014
 IBJ Staff
A second regional bank in the metro area in as many months has announced a change in its state leaders and area boundaries.
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Bank merger that looked conflict-free goes off the railsRestricted Content

April 5, 2014
Greg Andrews
Carmel-based Merchants Bancorp announced in May 2013 that it would merge into Mooresville-based CITBA Financial Corp.—a deal initially so warmly received by CITBA shareholders that the company’s stock shot up 87 percent.
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Banks see resurgence of home equity loansRestricted Content

March 29, 2014
Chris O'Malley
Although mortgage-refinancing applications are down, the product reviled and thought extinct after the 2008 housing crash that decimated property values may save the day for lenders: the home equity loan/line of credit.
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Bank files to foreclose on Garcia Construction property

March 27, 2014
Scott Olson
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction's building at 6002 N. Michigan Road, and on personal property.
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Fifth Third combines Indiana banking regions

March 26, 2014
 IBJ Staff
Fifth Third Bancorp has combined its Central Indiana and Southern Indiana units into a single affiliate. Nancy Huber, CEO of the company's Central Indiana region since 2009, will retire May 15.
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More hiring coming to Indiana?Restricted Content

March 15, 2014
At first blush, a poll that suggests 40 percent of Hoosier businesses plan to invest money into their business this year sounds promising.
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Banks gathering all their clients' eggs into one basketRestricted Content

March 1, 2014
Chris O'Malley
Banks and credit unions facing more competition from online lenders—and now even from big-box stores offering financial products—are working harder to get a bigger piece of a customer’s wallet over the long haul.
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Emerging growth markets tempt Hoosier companies

February 27, 2014
global indisana watch videoConsumption in emerging markets across the globe is growing fast, according to Chase Bank. Executives of several Indiana firms share their successes and mistakes when establishing operations outside the U.S.
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First Financial changes local leadership as it expands

February 21, 2014
Chris O'Malley
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank's state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
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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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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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  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

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