Credit Crisis
Shelbyville's SCB Bank scrambles for capital
November 19, 2011
Francesca JaroszA 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.
MoreEstridge again seeking investors to avoid closing
March 15, 2011
Scott OlsonThe Carmel-based homebuilder said Tuesday that it will shut down if outside investors or a line of credit aren't obtained
soon. The company previously received a cash infusion last June from a group of subcontractors.
MoreCredit counselor to merge with Ohio-based network
December 2, 2010
J.K. WallMomentive Consumer Credit Counseling Service Inc. has agreed to be absorbed by Ohio-based Apprisen Financial Advocates, as
financial pressures in the industry push not-for-profit agencies to become larger.
MoreIndiana firm pays W. Virginia $175,000 in consumer case
November 8, 2010
Associated PressWest Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based
Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
MoreIndianapolis-area experts see bright spots amid ongoing real estate weakness
October 23, 2010
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ
Power Breakfast.
MoreFormer bank exec receives 22-month sentence
September 9, 2010
Robert E. Tolle pleaded guilty Thursday in federal court of making fraudulent bank entries while serving as a loan officer
at the Indianapolis office of Evansville-based Old National Bank.
MoreFeds take over $20M Irwin pension shortfall
August 23, 2010
IBJ StaffThe Pension Benefit Guaranty Corp. estimates Irwin Financial Corp.’s pension plan is 56 percent funded, with assets
of $26.7 million
to cover $47.2 million in benefit liabilities.
MoreAIG sells American General unit to Fortress at loss
August 11, 2010
Bloomberg NewsAmerican International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting
rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in
debt.
MoreE-mails show how David Simon faced financial crisis
August 7, 2010
Cory SchoutenThe first few months of 2009 were not an easy time to be CEO of Simon Property Group Inc. David Simon was feeling pressure
from shareholders, lenders, employees and family members.
MoreBanker who wreaked havoc fesses up to felony charge
July 17, 2010
Greg AndrewsOverseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
MoreDeveloper facing legal action everywhere it has built condos
June 12, 2010
Cory SchoutenThree of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It's only the tip of Page Development's financial straits.
MoreBattered banks don't see light at end of tunnel
May 29, 2010
Greg AndrewsCredit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
MoreNew Indiana law aims to promote safety of traditional loans
May 22, 2010
Scott OlsonA new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
MoreReport: Examiners failed to curb risky lending at Irwin Union
May 5, 2010
IBJ Staff and Bloomberg NewsThe now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
MoreCommunity banks face fight of their lives against big players
March 13, 2010
Peter SchnitzlerSmall, community banks will bet on their strength in customer service, and large banks will offer business customers lower
costs.
MoreREED: Imprudence, bad economy will claim several Indiana banks
March 13, 2010
John ReedBanks are in trouble. Most are suffering at least a little, and many will not survive. That includes Indiana banks.
MorePNC profit rises despite growing loan losses
January 21, 2010
Associated PressThe bank's $1.01 billion in profit and its $5.08 billion in revenue were better than analysts expected.
MoreExperts see 'great concern' over local construction outlook
December 21, 2009
Scott OlsonA symbolic topping-off ceremony early this month to celebrate a milestone on the massive JW Marriott hotel project can’t
hide the anxiety felt within the construction industry.
MorePEARCE: More companies are focusing on consumers with poor credit ratings
December 12, 2009
Mike PearceMoreSome observers fear return of rising prices, stagnant growth
November 21, 2009
Peter SchnitzlerIn the 1970s, stagflation—the unprecedented combination of stagnant economic growth and inflation—threatened to
ruin financial institutions. Now some fear it might make a return.
MoreHICKS: Recession results in 'great deleveraging'
October 31, 2009
Mike HicksOn virtually every meaningful measure, this recession stacks up as only the third or fourth worst post-World War II recession,
but its effects are much more profound in a few areas. One area that will be most apparent is the changes the economy has
wrought on consumer credit.
MoreOpportunists hunt deals in commercial real estate
October 24, 2009
Cory SchoutenJust about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.
MoreBanks no longer in critical condition, but full recovery still distant
July 27, 2009
Scott OlsonThe 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.
MoreHICKS: Recessions end, with or without government help
June 22, 2009
Mike HicksThe worst is likely behind us, but difficult times lie ahead, especially for the unemployed.
MorePanel handicaps market recovery chances
May 25, 2009
Cory SchoutenA panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May
1 at the Westin Indianapolis.
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Members must realize if you stop paying your dues you will lose. Why else would your employer honor the rtw bill. Before you take this step think about what you may be giving up in the long run. Very little of your dues money goes to any dem candidate. YOu will never know how much your republican employer gives his party with money he could be paying the employee. Who will step up and demand better wages or benefits if you have no representation. Union is the way for a better life. Our carpenter union offers a 4 year apprenticeship and 2 year degree from Ivy Tech all paid for with union dues . This is a great opportunity for kids who cant afford schooling after high school. The same opportunity is there for any person,any age, either sex to provide a better living for their family. Pension, anuity, health insurance all for your dues. How is this a bad choice.
The FDIC is funded by assessments paid by banks, not taxpayers. That is not to say that bank customers don't ultimately pay the cost because, in the end, banks don't survive if they don't make profits.
SCB Bank's failure is expected to cost the government $33.9 million,dont you mean middle class another bailout our government has no money
Diogenes, the company did not call "pro-life" statements inflammatory. The IBJ article used the words "pro life."
All, the company did, is what it should do which is apologize profusely for offending people with a program that offered statements that support an infamous apartheid proponent, Dr. Verwoerd, suggest that sometimes rape is justified, and quote Biblical text to people, not looking for it.
If this is what you think is "insanity" then more companies need to behave insanely.
I totally disagree with $45mil being given to the state Attorney General's office. That money is a waste. All of the money should go to help the homeowners & the people who were foreclosed on. Why such a big percentage to state govt? They'll get to start another agency staffed with people who have new-found power & don't care about the people they serve. As soon as the program was announced, I knew the states would end up with a huge chunk of the money for themselves that would just be squandered. Or maybe Mitch Daniels will just happen to "find" another big chunk of money that was "posted in the wrong section of the state's books."