Banks

Old National reports earnings well below expectations

October 26, 2009
 IBJ Staff
Evansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted share, missing consensus analyst expectations by about 5 cents per share.
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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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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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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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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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Old National prices offering at $10 per share

September 23, 2009
Scott Olson
Evansville-based Old National Bancorp said yesterday that it has priced its public offering of 18 million shares of company stock at $10 per share.
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Old National selling stock to fund potential purchases

September 21, 2009
Scott Olson
Evansville-based Old National Bancorp said this morning that it is selling $150 million of its stock in a public offering and will use some of the proceeds to fund potential acquisitions.
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Irwin Financial admits outlook dire

September 16, 2009
Greg Andrews
Shares of Irwin Financial Corp. plummeted this morning after the banking company disclosed that regulators have ordered it to bolster its capital by the end of the month to levels "it has no realistic prospect of achieving."
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Rash of bank failures sure to spread to IndianaRestricted Content

September 5, 2009
Greg Andrews
Not a single Indiana bank has failed since the sector tanked last year. But Bob Jones, CEO of Old National Bancorp in Evansville, figures it’s only a matter of time.
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Venture firms recapitalize Advanced Physical Therapy LLC

August 29, 2009
 IBJ Staff
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
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Locals settle First Indiana insider-trading case

August 24, 2009
Greg Andrews
The Securities and Exchange Commission said today that it has settled insider-trading charges against three local residents who bought shares in First Indiana Corp. immediately before the July 9, 2007, announcement that it was being acquired by a Milwaukee bank for a 42-percent premium.
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Banks no longer in critical condition, but full recovery still distantRestricted Content

July 27, 2009
Scott Olson
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly traded banks with a presence in Indianapolis.
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Financial crisis yields opportunity for local banksRestricted Content

March 23, 2009
A national study finds that many community banks continue to prosper.
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Banking system's history should help ease fearsRestricted Content

March 23, 2009
Ken Skarbeck
Since people must have confidence in the financial system for it to function properly, it is incumbent upon our leaders to take action and assure the people their money is safe.
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Crackdown on bank pay pinches Hoosier execsRestricted Content

February 23, 2009
Greg Andrews
When Sen. Chris Dodd decided to wage war on corporate excess, he had Wall Street fat cats in his sights, not people like Bob Jones, the folksy CEO of Old National Corp. in Evansville.
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Small Business Administration grants loans to Indy businessesRestricted Content

February 23, 2009
These businesses have received loans from financial institutions with a guarantee from the SBA.
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Foreclosed properties create quandary for financial institutionsRestricted Content

February 2, 2009
Cory Schouten
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
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Stitle: Bank's sale to PNC fuels 'burst of adrenaline'Restricted Content

December 15, 2008
Greg Andrews
"I have no intention of retiring â?? now or ever," said Steve Stitle, CEO of National City Bank in Indiana, after the bank was purchased by PNC Financial.
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Greensfork Township State Bank to acquire local startup that failed to live up to high hopesRestricted Content

November 24, 2008
Cory Schouten
A rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup spent to build its extravagant branch on 96th Street.
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Lean companies have best chance to surviveRestricted Content

November 24, 2008
Jean Wojtowicz
Make your business look as attractive as possible to your banker because you are competing for financing with other small businesses.
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Nervous banks cut off some borrowers, tighten reins on othersRestricted Content

October 6, 2008
Cory Schouten

Local companies that rely on credit have seen their borrowing power shrink and in some cases disappear as a deep freeze in the nation's credit markets drives fears of a broad economic slowdown. A handful of businesses, including a Greenwood security firm and an Indianapolis contractor, already have shut down after credit dried up, and others are on the ropes as troubled banks seek to limit their loan exposure.


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Lender claims M&I Plaza when it fails to sell at auctionRestricted Content

June 30, 2008
Cory Schouten
A Maryland company has taken ownership of downtown's 28-story M&I Plaza just three months before a major tenant departure leaves the skyscraper 70-percent vacant. The new owner is CapitalSource Inc., a commercial finance and investment firm based in Chevy Chase, Md. It had been a lender to the former owner, which defaulted.
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