Indiana Banks

Indiana bank CEOs get bigger pay hike than peers

November 14, 2009
 IBJ Staff
For 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.
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Huntington National Bank's assets fell because partnership ended

November 7, 2009
 IBJ Staff
Last 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.
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Loan 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.
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Blue 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.
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First 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.
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Old National reports earnings well below expectations

October 26, 2009
 IBJ Staff
Evansville-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.
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First Financial gets sweet deal on Irwin Financial's bank assetsRestricted Content

October 24, 2009
Greg Andrews
It’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.
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Local lenders support small-biz loan initiative

October 22, 2009
Scott Olson
Small business lenders in Indianapolis are supporting a proposal announced by President Obama Wednesday that would increase the size of government-backed loans.
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FDIC fee hitting small banks particularly hardRestricted Content

October 3, 2009
Scott Olson
Fees 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.
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A pair of community banks see loan woes escalateRestricted Content

October 3, 2009
Greg Andrews
Community 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.
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Old National prices offering at $10 per share

September 23, 2009
Scott Olson
Evansville-based Old National Bancorp said yesterday that it has priced its public offering of 18 million shares of company stock at $10 per share.
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Unfinished federal bailout sealed Irwin's failure

September 21, 2009
Peter Schnitzler
Up to the end, Columbus-based Irwin Financial Corp. anticipated a government bailout that never materialized.
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Regulators close Irwin banking operations

September 18, 2009
 IBJ Staff
State 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.
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Irwin Financial admits outlook dire

September 16, 2009
Greg Andrews
Shares 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."
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Irwin Financial narrows losses, continues restructuring

August 5, 2009
Scott Olson
Irwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible suspension of its business.
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Banker's seat on board turns into bigger challengeRestricted Content

May 25, 2009
Greg Andrews
Within 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.
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Old National striving to be 'Indiana's bank'Restricted Content

May 18, 2009
Scott Olson
Old National's purchase of 65 Charter One branches deepens its foothold in Indy.
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Merchants Bank of Indiana is top home-grown bankRestricted Content

May 18, 2009
Peter Schnitzler
Merchants Bank of Indiana, whose main office is in Carmel, books better numbers than any other Hoosier bank.
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Financial crisis yields opportunity for local banksRestricted Content

March 23, 2009
A national study finds that many community banks continue to prosper.
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Crackdown on bank pay pinches Hoosier execsRestricted Content

February 23, 2009
Greg Andrews
When 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.
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Foreclosed properties create quandary for financial institutionsRestricted Content

February 2, 2009
Cory Schouten
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
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Indiana banks accepting TARP fundingRestricted Content

December 29, 2008
Cory Schouten
Many 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.
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Greensfork Township State Bank to acquire local startup that failed to live up to high hopesRestricted Content

November 24, 2008
Cory Schouten
A 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.
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First Indiana sells bankRestricted Content

December 31, 2007
Cory Schouten
Indiana'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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First Indiana Bank's sale timing paid offRestricted Content

August 27, 2007
Greg Andrews
First Indiana Corp.'s announcement that it would be sold to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash came just 17 days after sale discussions began. Banking observers have speculated for weeks that First Indiana acted fast to cut a deal before it would have to report second-quarter results.
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