A tiny Indiana bank and the bailout

  • Comments
  • Print

Newton County Loan & Savings bank couldnâ??t be more out of the way â?? or more relevant in this day of government bailouts.

The thrift is in Goodland, a burg between Lafayette and Chicago, and has all of $7.3 million in assets.

But the bank was inhaled yesterday by insurance giant Lincoln National Corp. to allow Lincoln National to seek status as a
bank holding company and ultimately get in line for some of the $700 billion in federal bailout funding. Lincoln, which was
headquartered in Fort Wayne before moving to Philadelphia in 1999, is one of several insurers making the move.

Whether local insurers including Conseco Inc. or even WellPoint Inc. follow suit remains to be seen.

How do you feel about this? Should insurance companies, many of which have suffered massive investment losses, be given a
seat at the table?

Please enable JavaScript to view this content.

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.