Indiana Banks

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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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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  1. Looking at the two companies - in spite of their relative size to one another -- Ricker's image is (by all accounts) pretty solid and reputable. Their locations are clean, employees are friendly and the products they offer are reasonably priced. By contrast, BP locations are all over the place and their reputation is poor, especially when you consider this is the same "company" whose disastrous oil spill and their response was nothing short of irresponsible should tell you a lot. The fact you also have people who are experienced in franchising saying their system/strategy is flawed is a good indication that another "spill" has occurred and it's the AM-PM/Ricker's customers/company that are having to deal with it.

  2. Daniel Lilly - Glad to hear about your points and miles. Enjoy Wisconsin and Illinois. You don't care one whit about financial discipline, which is why you will blast the "GOP". Classic liberalism.

  3. Isn't the real reason the terrain? The planners under-estimated the undulating terrain, sink holes, karst features, etc. This portion of the route was flawed from the beginning.

  4. You thought no Indy was bad, how's no fans working out for you? THe IRl No direct competition and still no fans. Hey George Family, spend another billion dollars, that will fix it.

  5. I live downtown Indy and had to be in downtown Chicago for a meeting. In other words, I am the target demographic for this train. It leaves at 6:00-- early but doable. Then I saw it takes 5+ hours. No way. I drove. I'm sure I paid 3 to 5 times as much once you factor in gas, parking, and tolls, but it was reimbursed so not a factor for me. Any business traveler is going to take the option that gets there quickly and reliably... and leisure travelers are going to take the option that has a good schedule and promotional prices (i.e., Megabus). Indy to Chicago is the right distance (too short to fly but takes several hours to drive) that this train could be extremely successful even without subsidies, if they could figure out how to have several frequencies (at least 3x/day) and make the trip in a reasonable amount of time. For those who have never lived on the east coast-- Amtrak is the #1 choice for NY-DC and NY-Boston. They have the Acela service, it runs almost every hour, and it takes you from downtown to downtown. It beats driving and flying hands down. It is too bad that we cannot build something like this in the midwest, at least to connect the bigger cities.

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