Indiana Banks

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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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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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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First Internet Bancorp reports lower quarterly profit

November 2, 2011
The company earned $765,000 for the period ended Sept. 30, compared with $1 million in the year-ago period. First Internet attributed the decline to the timing of gains from closed but not-yet-sold mortgages to the secondary market.
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Old National’s profit grows 41 percent

October 31, 2011
The Evansville-based financial services holding company reported third-quarter profit of $16.8 million. Earnings would have been even better without expenses related to its purchase of Integra Bank.
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Bank to report loss on sour Indianapolis loans

October 6, 2011
Columbus-based Indiana Community Bancorp, parent of Indiana Bank & Trust, said it will write off $13.3 million for the third quarter, primarily due to nine commercial customers in the Indianapolis area with total loan balances of $32.7 million.
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Suit says Irwin Union Bank execs missed snowballing riskRestricted Content

October 1, 2011
Greg Andrews
The bankruptcy trustee's suit against the top three officers of the bank's parent seeks more than $500 million.
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National Bank of Indianapolis exec retiring

August 31, 2011
Philip B. Roby, who helped start the city's largest locally based bank, will retire at the end of the year.
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KIM: MainSource story shows community banks' volatilityRestricted Content

August 20, 2011
Mickey Kim
First, by and large, community banks did not participate in the activities that led to the financial crisis.
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Veteran banker Alley found Integra too sick to saveRestricted Content

August 20, 2011
Francesca Jarosz
With reluctance, Mike Alley, a veteran Indianapolis banker, joined the board of Evansville-based Integra Bank in April 2009. A month later, he found himself CEO—the beginning of a 26-month odyssey that ended July 29 with banking regulators seizing and shutting down the 160-year-old institution.
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First Financial buying Flagstar's 22 Indiana branches

August 16, 2011
Greg Andrews
First Financial said the $23 million purchase gives it a rare opportunity to expand its presence in the Indianapolis metro area at a time there are few acquisition targets available.
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Indianapolis-based banks struggle to emerge from slumpRestricted Content

August 6, 2011
Francesca Jarosz
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis' economy isn't recovering as quickly as expected.
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Indiana banks continue quest for tax consistencyRestricted Content

August 6, 2011
Scott Olson
Lobby prepares new pitch for next legislative session.
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Fair sues Shelbyville bank over sale of Durham Duesenberg

August 3, 2011
Greg Andrews
Fair Finance Co.’s bankruptcy trustee sued Shelbyville’s SCB Bank this week, charging it refuses to turn over hundreds of thousands of dollars it raised by auctioning off one of Tim Durham’s most valuable automobiles, a 1929 Duesenberg.
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Cost cutting planned by Integra Bank's new owner

August 1, 2011
 IBJ Staff and Associated Press
Old National Bank President Bob Jones said an undetermined number of jobs will be eliminated, with the bulk of them being branch managers and other management positions.
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Merrillville-based bank targets Carmel

May 24, 2011
 IBJ Staff
Centier Bank, a financial firm with 45 branches in northwest Indiana, has opened a business banking office in Carmel and is considering future expansion in the Indianapolis-area market.
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Credit unions gun for more traditional bank business

May 21, 2011
Francesca Jarosz
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.
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President transforms workplace culture at Farmers Bank

May 7, 2011
Ann Finch
Few bank presidents gather their employees once a week and pass out plastic clapping hands to keep the beat to music pulsing full volume through the lobby. Fewer still climb atop a customer-service counter to open the early-morning pep rally with a full grin. Karen Miller does both.
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Local banks see small-business lending surging

April 4, 2011
J.K. Wall
Chase and Fifth Third of Indiana saw 57-percent and 56-percent spikes, respectively, in loans to state businesses last year. They forecast similar growth this year.
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Regulatory overload is community banks' next big hurdle

March 12, 2011
Francesca Jarosz
Banks across Indiana are preparing for a deluge of new regulations that will cut into their bottom lines, make their businesses more complex and, in some cases, force them to consolidate.
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First Internet Bancorp reports record annual profit

February 25, 2011
The parent of First Internet Bank earned $4.9 million in 2010 compared with a loss of $2.1 million the previous year.
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Integra Bank's auditor says situation may be dire

February 1, 2011
 IBJ Staff
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
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Tiny bank claims Stifel Nicolaus duped it on securities

January 10, 2011
J.K. Wall
The Peoples State Bank of Ellettsville says it was duped three years ago into investing more than $13 million into auction-rate securities just before those markets froze up. Now it's suing its broker, Stifel Nicolaus & Co., to get the money back.
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Sale of 118-year-old bank symptom of tough timesRestricted Content

December 11, 2010
Greg Andrews
A sale is suddenly more appealing to Monroe Bancorp and other financial institutions that used to be fiercely independent.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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