Banks

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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Bank tells tardy borrowers to get job—­and offers to help

November 23, 2013
Chris O'Malley

What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.

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First Internet up-shifts in commercial lendingRestricted Content

November 16, 2013
Chris O'Malley

First Internet Bank raised eyebrows this month when it filed a $25 million secondary stock offering said to be for organic growth and “other general corporate purposes.”

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Fee push helping banks overcome low interest ratesRestricted Content

November 9, 2013
Chris O'Malley
Two Indiana-based banks showed up on a national ranking of best non-interest income as a percentage of operating revenue: Evansville-based Old National Bancorp and South Bend’s 1st Source Corp.
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Local hotelier files for bankruptcy on 7 properties

November 8, 2013
Mason King
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.
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Home loan banks drop objection to $8.5B settlement

October 31, 2013
Bloomberg News
Lawyers for the Federal Home Loan Banks of Boston, Chicago and Indianapolis on Wednesday told a New York Supreme Court judge they are withdrawing from the case against Bank of America Corp.
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First Internet profit falls on rising interest rates

October 25, 2013
Chris O'Malley
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
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REED: Indiana's bank, thrift stocks fully recoveredRestricted Content

October 19, 2013
John Reed
Most remember well the financial crisis that led to the Great Recession. The problems were complex and big, and there were many villains and many more victims.
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After stock zooms up, Internet bank aims higherRestricted Content

October 12, 2013
Greg Andrews
Shares of First Internet Bancorp have more than doubled since December, when founder and CEO David Becker boosted the visibility of the stock by announcing it was shifting from the over-the-counter market to NASDAQ.
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Obama to nominate Yellen as Bernanke successor

October 8, 2013
Associated Press
President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the nation's central bank, the White House said Tuesday. Yellen would be the first woman to head the powerful Fed.
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Indiana bank cutting 80 workers after merger

October 4, 2013
Associated Press
Citizens Financial Bank president Daryl Pomranke said all the layoffs will be of employees in support roles such as operations and technology
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  1. I am also a "vet" of several Cirque shows and this one left me flat. It didn't have the amount of acrobatic stunts as the others that I have seen. I am still glad that I went to it and look forward to the next one but I put Varekai as my least favorite.

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