Loans

IU students get more information, borrow less

July 3, 2014
Bloomberg News
A simple letter from Indiana University led its students to reduce borrowing by far more than the national average last academic year. Federal undergraduate Stafford loan disbursements at the university dropped 11 percent, or $31 million.
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Stock tied to IPO catapults pay for Springleaf execs

May 24, 2014
Two executives with the Evansville-based lender received big stock awards in connection with the company's IPO. The awards put the pair No. 1 and No. 2 on IBJ's list of highest-paid Hoosier executives.
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BMO Harris shaking up rules of game for car loansRestricted Content

May 17, 2014
Chris O'Malley
BMO Harris Bank’s dealer compensation change—to a flat-fee based on a vehicle’s purchase price—brings to light how consumers have for years unknowingly footed a payment to dealers through higher interest rates on their car loans.
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Deca Financial to wind down after trustee opts for liquidation

April 15, 2014
Chris O'Malley
The Fishers debt collection agency had been forced into bankruptcy by creditors. On Monday, a judge approved a request to terminate the once-promising firm.
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Small biz lending starting to thawRestricted Content

April 5, 2014
Dan Human
More small businesses in Indiana are securing loans as owners learn to present their companies better and banks warm to small-business lending after years of hesitation.
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U.S. student-loan debt adds to growing wealth gap

March 27, 2014
Associated Press
Roughly 37 million people in the U.S. are saddled with $1 trillion in student debt, a factor contributing to the widening of the gap between rich and everyone else in the country.
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Bank files to foreclose on Garcia Construction property

March 27, 2014
Scott Olson
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction's building at 6002 N. Michigan Road, and on personal property.
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Lender with unique niche broadening its ambitionsRestricted Content

February 22, 2014
Chris O'Malley
Oak Street Funding, a Carmel firm that lends exclusively to insurance agencies/brokers, plans to diversify this summer, with its first loans to registered investment advisers.
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Savings account rates in Indiana among lowest in nation

February 12, 2014
Chris O'Malley
The study by GoBankingRates.com finds that the average return on savings at Indiana banks is 0.056 percent. However, the average for Indianapolis-area banks was considerably higher.
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Indiana gets low-interest loans for tornado relief

February 6, 2014
Associated Press
Businesses, residents and some not-for-profits in 19 Indiana counties recovering from the November tornado outbreak can receive low-interest federal disaster loans.
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Industry providing cash advances for lawsuit payoffs fights bill

February 5, 2014
Associated Press
The director of a group of financing companies warned Wednesday that lawmakers "would eliminate this industry from Indiana" should they approve a measure targeting companies that provide cash advances to people awaiting payoffs in personal injury lawsuits.
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Bill meant to protect credit scores considered by committee

January 13, 2014
Brandon Mullens, The Statehouse File
Senate Bill 175 would restrict the use of credit checks in reducing credit scores.
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Indiana church expected to repay creditors fully in 25 years

December 17, 2013
Bloomberg News
The Madison Park Church of God in Anderson has a green light to exit bankruptcy under a Chapter 11 plan approved by an Indianapolis judge late last week.
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First Internet up-shifts in commercial lendingRestricted Content

November 16, 2013
Chris O'Malley

First Internet Bank raised eyebrows this month when it filed a $25 million secondary stock offering said to be for organic growth and “other general corporate purposes.”

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Stonegate Mortgage profit slows in third quarter

November 14, 2013
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
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Sale may extricate Harlan Labs from its debt problems

November 2, 2013
Greg Andrews
San Francisco-based Genstar Capital is exploring selling the 2,600-employee company in the wake of failing early this year to renegotiate the company’s massive debt load.
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Home loan banks drop objection to $8.5B settlement

October 31, 2013
Bloomberg News
Lawyers for the Federal Home Loan Banks of Boston, Chicago and Indianapolis on Wednesday told a New York Supreme Court judge they are withdrawing from the case against Bank of America Corp.
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First Internet profit falls on rising interest rates

October 25, 2013
Chris O'Malley
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
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Indiana-based Springleaf's shares rise after $336M IPO

October 16, 2013
Associated Press
Springleaf Holdings Inc. provides non-prime consumer loans through a network of 834 offices and online.
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Stonegate snares less than expected in IPO

October 10, 2013
 IBJ Staff
The Indianapolis firm debuted Thursday on the New York Stock Exchange at $16 per share, well below the anticipated range of $20 to $22. In total, Stonegate's 7.1 million shares garnered $114 million.
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Families hoard cash five years after financial crisis

October 6, 2013
Associated Press
One of the biggest drags on the economic recovery is fear. Households are hoarding cash, spending cautiously, avoiding debt, and shifting investments into low-yield (but potentially safer) holdings. When done on a global scale, such prudent moves can starve the economy.
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Chamber's microloan program swells to $2M after grant

September 19, 2013
Chris O'Malley
Business Ownership Initiative, a unit of the Indy Chamber, launched its microloan fund last September to help small business owners in Indianapolis.
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After years of success, Harlan Laboratories caught in debt viseRestricted Content

September 7, 2013
Greg Andrews
The company may violate loan covenants in the next three to six months, and its ability to refinance a $280 million loan that matures in July 2014 is “highly questionable,” Moody’s says.
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Indiana banks finally regain pre-meltdown asset levels

July 10, 2013
Chris O'Malley
Assets for Indiana banks have risen back to levels seen in 2008, and financial institutions are lending again. But smaller, community-based banks still face an array of challenges that could lead to more consolidation.
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Carmel auto-dealer lender plans to add 169 workers

March 4, 2013
J.K. Wall
Carmel-based NextGear Capital plans to add 169 jobs at a new office in Carmel, the company announced Monday morning.
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  1. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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