Banks

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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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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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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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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Bill meant to protect credit scores considered by committee

January 13, 2014
Brandon Mullens, The Statehouse File
Senate Bill 175 would restrict the use of credit checks in reducing credit scores.
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Average 30-year mortgage rate climbs to 4.48 percent

December 27, 2013
Associated Press
Rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.
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U.S. credit card info is easy pickings for hackers

December 22, 2013
Associated Press
Incidences like the recent data theft affecting 40 million Target customers could become more common as retailers, banks and credit card companies argue over who should pay for security upgrades.
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How Fed's pullback of stimulus could affect you

December 19, 2013
Associated Press
The Federal Reserve's move Wednesday to slow its stimulus will ripple through the global economy. But exactly how it will affect people and businesses depends on who you are.
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Fed to reduce bond purchases by $10B in January

December 18, 2013
Associated Press
The Federal Reserve has decided to reduce its stimulus for the U.S. economy because the job market has shown steady improvement. The Fed will trim its $85 billion a month in bond purchases by $10 billion starting in January.
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Pressure on legislature to address abandoned homesRestricted Content

December 14, 2013
Chris O'Malley
Banks are pushing for reform to the state's process for home foreclosures.
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Suit slams ex-insiders of Bank of IndianaRestricted Content

December 7, 2013
Chris O'Malley
Racketeering, fraud and “negligent oversight” are juicy ingredients in any lawsuit. But a recently filed complaint against Bank of Indiana may take the trophy in the otherwise sound-but-sleepy world of Indiana banking, not just for the nature of the allegations but that they’re aimed at the boardroom.
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'12 Days of Christmas' items top $114,000

December 2, 2013
Associated Press
The price of lords-a-leaping and ladies dancing has spiked this holiday season, but other items mentioned in the carol "The Twelve Days of Christmas" still cost the same as they did last year.
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