Indiana Banks

First Merchants accused of overdraft fee violations

May 29, 2013
Chris O'Malley
A lawsuit seeking class-action status alleges that the Muncie-based bank manipulated the timing of customers' transactions to cause their checking accounts to bounce more frequently, generating millions of dollars in overdraft fees.
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Spate of banking mergers may be just the beginningRestricted Content

May 18, 2013
Greg Andrews
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
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Banks scale back real estate needs as transactions shift online

April 23, 2013
Scott Olson
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
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First Internet earnings surge on commercial loan growth

April 19, 2013
 IBJ Staff
The Indianapolis-based bank's commercial loan portfolio grew to $109.1 million, a rise of 62 percent compared with the first quarter of 2012. Commercial real estate loans rose 46 percent.
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Bank of Indiana parent files Chapter 11, to sell branches

April 10, 2013
Chris O'Malley
The bankruptcy of Bank of Indiana's parent and the planned sale of its branches bring to a close management's quest to turn around an institution that was buffeted by borrower defaults during the financial crisis.
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Bank foreclosing on former charter school property

February 25, 2013
Old National Bank is suing the operator of charter school that closed last summer in Indianapolis, claiming it failed to pay off the $1.8 million balance on its mortgage.
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UPDATE: First Internet slips 2.5 percent in debut on NASDAQ

February 22, 2013
Shares of the Indianapolis-based bank finished their first day on the NASDAQ exchange at $28.50, a 75-cent drop from their opening price. The stock had been listed on the thinly traded over-the-counter market.
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First Internet plans 48 jobs in $4.3M Fishers office

February 19, 2013
Scott Olson
The $4.3 million expansion will go toward purchasing and refurbishing a building near Interstate 69 and 116th Street that formerly housed the St. Vincent Health medical center.
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Old National's earnings highest since 2002

January 28, 2013
Kathleen McLaughlin
Old National Bancorp's earnings rose 26 percent in 2012, to $91.7 million, its greatest since 2002, the Evansville-based company announced Monday morning.
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Old National buying 24 branches from Bank of America

January 9, 2013
Bloomberg News
Bank of America Corp. plans to sell 24 branches in northern Indiana and southwest Michigan with about $779 million in deposits to Old National Bancorp.
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Developer loses fraud appeal

December 28, 2012
Scott Olson
The Indiana Court of Appeals affirmed Christopher White's 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
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First Internet Bancorp seeking to list on NASDAQ

December 5, 2012
Scott Olson
The Indianapolis-based company said it has filed with the Securities and Exchange Commission to make the move from the over-the-counter board to the more active NASDAQ exchange.
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Banks' market rankings stable despite deposit shiftsRestricted Content

October 13, 2012
 IBJ Staff
BMO Harris and PNC lost some deposits, but the biggest local banks by market share remained the same.
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Judge tosses out lawsuit blasting Irwin executivesRestricted Content

October 6, 2012
Greg Andrews
A judge dismissed a lawsuit filed by Irwin Financial Corp.'s bankruptcy trustee, saying the only party with the right to bring suit was the bank’s receiver, the Federal Deposit Insurance Corp. It didn't do so by last month's deadline.
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MainSource making most of prime downtown spotRestricted Content

October 6, 2012
Part of former Borders bookstore space is marketing opportunity for Greensburg-based bank. The other half could be turned into lobby for Barnes & Thornburg.
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Old National to close nine branches in Indianapolis area

August 16, 2012
J.K. Wall
Evansville-based Old National Bank will close nine Indianapolis-area branches near the end of the year and consolidate them into nearby branches in a move to streamline its operations.
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Old National reports higher profit, revenue

July 30, 2012
Loan growth in the consumer and real estate sectors helped Evansville-based Old National Bancorp report higher profit and revenue in the second quarter, the company said Monday morning.
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Treasury gives TARP banks more time to consider their optionsRestricted Content

July 28, 2012
Banks now have until October to avoid having preferred shares auctioned by federal government.
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Regional investing conference heavy on Indiana banksRestricted Content

July 14, 2012
Event organizers say Wall Street isn't the only place to drum up interest in stocks.
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Old National names ex-Indiana chief justice as director

July 9, 2012
Associated Press
Old National Bancorp has appointed former Indiana Chief Justice Randall Shepard to its board of directors.
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Heartland Bancshares approves acquisition by HorizonRestricted Content

July 7, 2012
The deal, effective July 17, will give the Michigan City bank its first presence in Central Indiana.
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Bank of Indiana on long journey back from brinkRestricted Content

April 14, 2012
Greg Andrews
A fast-growing Indianapolis bank that became one of the biggest U.S. Small Business Administration lenders in the state has returned to profitability after a harrowing stretch of massive losses from borrower defaults that nearly led to its failure.
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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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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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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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