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Indiana Banks
Falling property prices fuel new wave of bank woes
November 21, 2009
Peter SchnitzlerThe second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial
real estate loans.
MoreIndiana bank CEOs get bigger pay hike than peers
November 14, 2009
IBJ StaffFor banks, the last two years have been among the most tumultuous in history. Financial institution CEOs across the country
responded by trimming their raises in 2009. But in Indiana, bank chiefs didn’t follow form.
MoreHuntington National Bank's assets fell because partnership ended
November 7, 2009
IBJ StaffLast week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
why.
MoreLoan losses contribute to First Internet's poor earnings
November 4, 2009
Indianapolis-based First Internet Bancorp on Wednesday said it lost $208,806 in the third quarter, as loan losses continued
to increase.
MoreBlue River posts loss on poor loan climate
November 4, 2009
Shelbyville-based Blue River Bancshares Inc. on Tuesday night said mounting loan losses contributed to a third-quarter loss
of $356,000.
MoreFirst Merchants posts quarterly loss on bad loans
November 2, 2009
Muncie-based First Merchants Corp. said Monday afternoon that loan charge-offs contributed to a loss of $6.4 million in the
third quarter.
MoreOld National reports earnings well below expectations
October 26, 2009
IBJ StaffEvansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted
share, missing
consensus analyst expectations by about 5 cents per share.
MoreFirst Financial gets sweet deal on Irwin Financial's bank assets
October 24, 2009
Greg AndrewsIt’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
MoreLocal lenders support small-biz loan initiative
October 22, 2009
Scott OlsonSmall business lenders in Indianapolis are supporting a proposal announced by President Obama Wednesday that would increase
the size of government-backed loans.
MoreFDIC fee hitting small banks particularly hard
October 3, 2009
Scott OlsonFees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is
expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are
particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June
30.
MoreA pair of community banks see loan woes escalate
October 3, 2009
Greg AndrewsCommunity Bank of Noblesville and Blue River Bancshares Inc. of Shelbyville have seen loans sour
at a rate that might have seemed unimaginable before the housing market tanked and the recession set in.
MoreOld National prices offering at $10 per share
September 23, 2009
Scott OlsonEvansville-based Old National Bancorp said yesterday that it has priced its public offering of 18 million shares of company
stock at $10 per share.
MoreUnfinished federal bailout sealed Irwin's failure
September 21, 2009
Peter SchnitzlerUp to the end, Columbus-based Irwin Financial Corp. anticipated a government bailout that never materialized.
MoreRegulators close Irwin banking operations
September 18, 2009
IBJ StaffState and federal regulators shut down the two banking subsidiaries of ailing Irwin Financial Corp. of
Columbus. The action makes Irwin Union Bank and Irwin Union Bank FSB the first financial institution failures in Indiana since
steep losses hit the industry last year.
MoreIrwin Financial admits outlook dire
September 16, 2009
Greg AndrewsShares of Irwin Financial Corp. plummeted this morning after the banking company disclosed that regulators have ordered it
to bolster its capital by the end of the month to levels "it has no realistic prospect of achieving."
MoreIrwin Financial narrows losses, continues restructuring
August 5, 2009
Scott OlsonIrwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible
suspension of its business.
MoreBanker's seat on board turns into bigger challenge
May 25, 2009
Greg AndrewsWithin a month of joining the board of Evansville's Integra Bank Corp. Mike Alley, former CEO of Fifth Third Bancorp's central
Indiana operations, had become Integra's interim CEO.
MoreOld National striving to be 'Indiana's bank'
May 18, 2009
Scott OlsonOld National's purchase of 65 Charter One branches deepens its foothold in Indy.
MoreMerchants Bank of Indiana is top home-grown bank
May 18, 2009
Peter SchnitzlerMerchants Bank of Indiana, whose main office is in Carmel, books better numbers than any other Hoosier bank.
MoreFinancial crisis yields opportunity for local banks
March 23, 2009
A national study finds that many community banks continue to prosper.
MoreCrackdown on bank pay pinches Hoosier execs
February 23, 2009
Greg AndrewsWhen Sen. Chris Dodd decided to wage war on corporate excess, he had Wall Street fat cats in his sights, not people like Bob
Jones, the folksy CEO of Old National Corp. in Evansville.
MoreForeclosed properties create quandary for financial institutions
February 2, 2009
Cory SchoutenReal estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
MoreIndiana banks accepting TARP funding
December 29, 2008
Cory SchoutenMany of Indiana's banks jumped at the chance to apply for a share of the federal government's capital-infusion program, and
ones that win approval likely will accept the funds designed to shore up still-healthy financial institutions.
MoreGreensfork Township State Bank to acquire local startup that failed to live up to high hopes
November 24, 2008
Cory SchoutenA rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.
MoreFirst Indiana sells bank
December 31, 2007
Cory SchoutenIndiana's largest locally based bank, First Indiana Corp., decided to end 92 years of independence in 2007, agreeing in July
to sell itself to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash, or $32 a share.
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