Banks

JPMorgan Chase takes fire for 'hedge,' $2 billion loss

May 12, 2012
Associated Press
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
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Hundreds losing jobs at local Aurora Bank office

April 25, 2012
Scott Olson
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
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Ex-bank exec Alley to take over Indiana revenue office

April 13, 2012
 IBJ Staff and Associated Press
Former Fifth Third Bank president Mike Alley will take over as the state's revenue commissioner. He'll replace John Eckart, who resigned last week amid controversy over misplaced local option income taxes.
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ALLEY: Where banks will find growth in the futureRestricted Content

March 10, 2012
Mike Alley / Special to IBJ
Demographics, technology will reward winning institutions.
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SULLIVAN: New consumer agency could hinder economyRestricted Content

March 10, 2012
Charlene Sullivan / Special to IBJ
Protection must be balanced with allowing credit to flow
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Developer Broadbent loses fight to keep finances under wraps

March 7, 2012
Scott Olson
A newly public filing shows the co-founder of The Broadbent Co.'s net worth has fallen 60 percent, to $48 million.
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Local PNC Bank exec joining law firm Krieg DeVault

February 29, 2012
Scott Olson
Stephen A. Stitle will leave the bank to come aboard the law firm as a partner on May 1. Stitle has spent a combined 17 years at PNC and National City Bank, which PNC purchased in 2008.
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Bank seeks $2M from estate of London Witte Group founder

February 24, 2012
Scott Olson
The estate of Richard J. Salewicz, who died in 2010, is named in the foreclosure suit that also targets Tyson Corp., the company he owned on the southwest side of Indianapolis. Local accounting firm London Witte is not part of the court action.
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Foreclosure sought for downtown's Century Building

February 15, 2012
Scott Olson
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
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First Merchants shuns management from failed SCB Bank

February 13, 2012
Scott Olson
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank's CEO into the new ownership.
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Feds take over SCB Bank in Shelbyville

February 11, 2012
 IBJ Staff and Associated Press
Muncie-based First Merchants Bank will assume the deposits and some of the loans of SCB, the third Hoosier bank to fail since the banking crisis began three years ago.
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Merger to give northwest Indiana bank local foothold

February 10, 2012
Kathleen McLaughlin
Horizon Bancorp of Michigan City announced Friday that it has agreed to acquire Heartland Community Bank of Franklin for about $14 million, or $9.72 per share.
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13K Indiana foreclosure victims to get $2K checks

February 9, 2012
Associated Press
Indiana homeowners will receive about $43 million in refinanced loans while other borrowers will get $30 million worth of loan-term modifications and other relief as part of a $25 billion nationwide settlement with the country's biggest mortgage lenders.
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Sale of storied bank reflects industry's difficult timesRestricted Content

February 4, 2012
Greg Andrews
John Keach Jr., the third generation of his family to lead Indiana Bank & Trust, looked into the future and wondered how—given the lackluster economy and increasing costs for everything from employee benefits to regulatory compliance—it would generate robust earnings growth.
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Old National buying Indiana Community for $79M

January 25, 2012
J.K. Wall
Evansville-based Old National will absorb 20 Indiana Community branches, including three on the southern edge of Indianapolis. Indiana Community Bank & Trust has nearly $985 million in assets.
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PNC's Stitle to chair Central Indiana Business Hall of Fame eventRestricted Content

December 31, 2011
 IBJ Staff
The event honors men and women who epitomize success in the business world.
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Salin Bank President Kit Stolen resigns

December 12, 2011
Greg Andrews
Alvin “Kit” Stolen joined the Indianapolis-based bank in August 2009 with big plans to boost its presence in the center of the state. The major expansion didn't materialize.
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Bond banks in Indiana, other states boost sales

November 30, 2011
 IBJ Staff and Bloomberg News
State municipal-bond banks in Indiana, Vermont, Maine and New Hampshire plan to issue about $190 million in debt this week, as smaller communities seek to take advantage of 10-year interest rates near a six-week low.
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First Financial aims to use Flagstar deal as springboardRestricted Content

November 26, 2011
Francesca Jarosz
A deal scheduled to close next month will give Cincinnati-based First Financial Bancorp the foothold it has long sought to build a major presence in the Indianapolis market.
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Shelbyville's SCB Bank scrambles for capital

November 19, 2011
Francesca Jarosz
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
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Local business bank parent reports third-quarter profit

November 18, 2011
Indiana Business Bancorp attributed its profit of 9 cents per share to higher non-interest income a lower loan-loss provision expense.
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Default notices, home seizures climb in Indiana, nation

November 10, 2011
 IBJ Staff and Bloomberg News
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
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Farm-profit volatility boosting risk for lenders, economist says

November 9, 2011
Bloomberg News
U.S. farmers face increased financial risk because of higher operating costs and volatile commodity prices, even as income this year reaches a record, said Michael Boehlje, an economist at Purdue University.
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West-side Godby building in foreclosure

November 7, 2011
Scott Olson
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building's tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.
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Centier Bank opens Indianapolis-area loan production officeRestricted Content

November 5, 2011
 IBJ Staff
The Merrillville-based bank is testing the waters before launching a retail-banking presence.
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  1. If what you stated is true, then this article is entirely inaccurate. "State sells bonds" is same as "State borrows money". Supposedly the company will "pay for them". But since we are paying the company, we are still paying for this road with borrowed money, even though the state has $2 billion in the bank.

  2. Andrew hit the nail on the head. AMTRAK provides terrible service and that is why the state has found a contractor to improve the service. More trips, on-time performance, better times, cleanliness and adequate or better restrooms. WI-FI and food service will also be provided. Transit from outlying areas will also be provided. I wouldn't take it the way it is but with the above services and marketing of the service,ridership will improve and more folks will explore Indy and may even want to move here.

  3. They could take the property using eminent domain and save money by not paying the church or building a soccer field and a new driveway. Ctrwd has monthly meetings open to all customers of the district. The meetings are listed and if the customers really cared that much they would show. Ctrwd works hard in every way they can to make sure the customer is put first. Overflows damage the surrounding environment and cost a lot of money every year. There have been many upgrades done through the years to help not send flow to Carmel. Even with the upgrades ctrwd cannot always keep up. I understand how a storage tank could be an eye sore, but has anyone thought to look at other lift stations or storage tanks. Most lift stations are right in the middle of neighborhoods. Some close to schools and soccer fields, and some right in back yards, or at least next to a back yard. We all have to work together to come up with a proper solution. The proposed solution by ctrwd is the best one offered so far.

  4. Fox has comments from several people that seem to have some inside information. I would refer to their website. Changed my whole opionion of this story.

  5. This place is great! I'm piggy backing and saying the Cobb salad is great. But the ribs are awesome. $6.49 for ribs and 2 sides?! They're delicious. If you work downtown, head over there.

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