Banking & Finance

Suit slams ex-insiders of Bank of IndianaRestricted Content

December 7, 2013
Chris O'Malley
Racketeering, fraud and “negligent oversight” are juicy ingredients in any lawsuit. But a recently filed complaint against Bank of Indiana may take the trophy in the otherwise sound-but-sleepy world of Indiana banking, not just for the nature of the allegations but that they’re aimed at the boardroom.
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Prosecutors concede no ground in Tim Durham’s appeal

December 7, 2013
Greg Andrews
In a new brief, the government insists it pursued wiretaps in late 2009 only after investigating the business using less-invasive techniques for 7-1/2 months.
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Stock market jumps after strong jobs report

December 6, 2013
Associated Press
Stocks rose sharply after the government reported a fourth straight month of solid U.S. job gains, the latest encouraging sign for the economy.
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Indiana maintains all three of its AAA credit ratings

December 6, 2013
 The Statehouse File
Indiana has held AAA ratings – the highest available – with Standard and Poor’s, Moody’s, and Fitch Ratings since April of 2010.
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School districts could recover $14 million in settlement

December 3, 2013
Associated Press
Indiana school districts which invested in a failed union health insurance plan could get back roughly half of the money they lost, if they approve the settlement.
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'12 Days of Christmas' items top $114,000

December 2, 2013
Associated Press
The price of lords-a-leaping and ladies dancing has spiked this holiday season, but other items mentioned in the carol "The Twelve Days of Christmas" still cost the same as they did last year.
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Chase Indiana chairman retiring

November 30, 2013
Chris O'Malley
Dennis Bassett, who retires at the end of this month, will tell you things might not have gone well for JPMorgan Chase & Co. if it had imported a New Yorker to run its Indiana operations when it bought Chicago-based Bank One in 2004.
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Finish Line shares continue climb after upgrade

November 25, 2013
Associated Press
Two investment analysts raised their ratings for Finish Line on Monday, saying the Indianapolis-based athletic shoe and clothing retailer has the opportunity for margin recovery and a stronger online performance.
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New Carmel company to boot J.C. Penney off S&P 500

November 25, 2013
Bloomberg News
J.C. Penney, which is trying to bounce back from its worst sales year in two decades, will be replaced by Carmel-based electronic security company Allegion, which is being spun off by Irish industrial conglomerate Ingersoll-Rand Plc.
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PROXY CORNER: First Financial Corp.

November 23, 2013
Terre Haute-based First Financial Corp. is the holding company for First Financial Bank, The Morris Plan Co. of Terre Haute and Forrest Sherer Inc. It operates 68 banking offices in Indiana and Illinois.
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Still nothing for investors, as Fair Finance legal fees balloon

November 23, 2013
Greg Andrews
The Cleveland law firm representing the bankruptcy Trustee Brian Bash is seeking approval for more than $11 million in fees.
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Bank tells tardy borrowers to get job—­and offers to help

November 23, 2013
Chris O'Malley

What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.

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Dow, S&P 500 hit records before closing lower

November 18, 2013
Associated Press
The stock market broke through two milestones Monday before giving up nearly all its gains late in the day.
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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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Menard lawyers question Trump's value as spokeswoman

November 13, 2013
J.K. Wall
Attorneys for John Menard questioned how valuable Melania Trump actually is as a celebrity spokeswoman during an ongoing trial over a skincare marketing deal gone sour.
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Menard-Trump trial lays bare celeb-endorsement business

November 12, 2013
J.K. Wall
Testimony in the first day of a trial over a contract dispute between Melania Trump, John Menard and Steve Hilbert also involved former Miss America Katie Stam, the Kardashian sisters and the former manager of the Menards store in Avon.
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Fee push helping banks overcome low interest ratesRestricted Content

November 9, 2013
Chris O'Malley
Two Indiana-based banks showed up on a national ranking of best non-interest income as a percentage of operating revenue: Evansville-based Old National Bancorp and South Bend’s 1st Source Corp.
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Local hotelier files for bankruptcy on 7 properties

November 8, 2013
Mason King
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.
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Durham family members agree to settle trustee claims

November 8, 2013
Attorneys for the Fair Finance trustee said Tim Durham's ex-wife, Joan SerVaas, has agreed to pay $100,000 and Bernard Durham, his adopted son, $10,000 to settle a lawsuit charging they accepted nearly $300,000 from the disgraced financier.
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Twitter soars as shares debut on stock market

November 7, 2013
Associated Press
The stock opened at $45.10 a share on Thursday, 73 percent above its initial offering price. Tempering expectations was a big theme leading up to the IPO, but that flew out the window with the stock's opening surge.
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Redevelopment commission for Carmel in turmoilRestricted Content

November 2, 2013
Andrea Muirragui Davis
The city's big-spending redevelopment commission, which helped fund some of Carmel's most ambitious projects, now is facing a tight budget, a staff exodus and brow-raising audit.
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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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Strategist: Get ready for steady economic growth

October 30, 2013
Norm Heikens
Forecast 2014 Watch
                           video iconBusinesses will begin using their profits and horded cash to reinvest in themselves in 2014, helping push economic growth back to a more comfortable 2.5 percent, according to John Augustine, chief market strategist for Fifth Third Bank.
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  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

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