Banking & Finance

ARTICLES

IRS workers to receive bonuses of 1 percent

A Treasury Department investigation concluded that previous bonuses totaling $2.8 million had gone to more than 2,800 employees found to have broken agency rules of conduct, including 1,100 employees who owed back taxes.
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Financing strategy for roads hits bump

A standard-bearer of public-private partnerships since former Gov. Mitch Daniels’ toll road lease, Indiana might be turning away from at least one form of the P3s.
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First Merchants closes $49M acquisition of Community Bank

The deal gives First Merchants a stronger foothold in affluent Hamilton County, and a total of 107 locations in three states.
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Feds charge Deca Financial founder in $5M fraud

Federal prosecutors on Wednesday filed bank fraud, wire fraud and bankruptcy fraud charges against the founder of defunct Fishers collection agency Deca Financial.
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Salin taps Belden as market chief

Indianapolis-based Salin Bank and Trust Co. has tapped former Regions Bank executive John M. Belden for one of its community president positions.
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Investors find value in entrepreneurs who fail

While Midwest venture capitalists are still relatively conservative compared to those on the coasts, failure is increasingly carrying more of an edge and less of a stigma.
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Bullard says low inflation not enough to justify zero rates

Federal Reserve Bank of St. Louis President James Bullard said market-based measures of inflation expectations have declined to low levels in recent months but have rebounded since mid-October.
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OneAmerica pays $800K over fraud orchestrated by ex-employee

OneAmerica Securities has agreed to pay the state $805,000 to settle claims it failed to supervise an ex-employee involved in an $8.9 million Ponzi scheme in Ohio, Kentucky and southeastern Indiana.
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Stonegate shares shellacked after third-quarter loss

Shares of Stonegate Mortgage Corp. sank 18 percent in trading Thursday after the firm reported third-quarter losses of $1.7 million and missed Wall Street estimates by a wide margin.
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Private equity group confirms Herff Jones buyout

Charlesbank Capital Partners and Partners Group say the purchase—reportedly for $1.5 billion—ensures the educational-products company “has the capital structure, resources, and financial flexibility” to further expand.
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