Busey Bank says it has lost more than $100 million in loans to a competitor because of “brazen and systematic poaching” of its employees.
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The deal is the largest to date by far for Old National, which has grown dramatically over the past decade through a series of acquisitions.
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But the bankers also say it’s unclear how the pandemic might affect commercial customers—and the banks themselves—in the longer term.
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Peter Dunn talks to guest host Lesley Weidenbener about all things home buying, including mortgages, determining how much house you can afford, why you shouldn’t put down less than 10% and why the idea of starter homes and family homes is silly.
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Fort Wayne-based STAR, which has 13 banking offices in the Indianapolis market, said it sees a business opportunity in Bitcoin and plans to add additional cryptocurrency services as demand warrants.
First Merchants has agreed to acquire Farmington Hills-based Level One Bancorp, which has 16 Michigan banking offices. The deal is expected to close in the first half of next year.
Fishers-based First Internet says it expects that its $80 million acquisition of Georgia-based First Century Bank will be complete early next year. The deal brings several new product lines to First Internet’s existing offerings.
Based in Anderson, Bankable offers microloans to small and startup businesses around the state. This is the organization’s first fund specifically targeting Black-owned businesses.
The five former directors and employees of the now-defunct Westfield firm were found guilty on fraud and conspiracy charges. Prosecutors say the five submitted false information in order to get more than $10 million in ineligible loans approved by the Small Business Administration.
All 23 of the nation’s biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday.
Indianapolis is the first non-Ohio market and the fourth market overall, for CFBank. The company has hired a market president and is currently scouting for office space.
In helping borrowers secure vital funding that helped them weather the pandemic, banks say the PPP program has helped them build relationships that could lead to a lot of new business.
Fishers-based First Internet Bank began assembling its Small Business Administration lending division in late 2018.
The Office of the Comptroller of the Currency, which regulates federally chartered U.S. banks, has recently given banks the go-ahead to engage in certain types of cryptocurrency transactions.
Fishers-based First Internet saw its stock price climb to a one-year high in after-hours trading after the bank released its financial report Wednesday.
The 30-year fixed-rate average, the most popular mortgage product, sank to 2.66% with an average 0.7 point, according to the latest data released Thursday by Freddie Mac.
The Boone County bank featured equipment that was modern at the time, including model screw door safes with triple-time locks and substantial vaults.
The company said it would use the savings from the closures to beef up its digital banking and in-branch technology initiatives.
Muncie-based First Merchants plans to acquire Hoosier Trust for $3.2 million in a deal that is expected to close early next year.
High levels of uncertainty, along with other pandemic-related factors, have pushed U.S. commercial bank deposits to record highs since the beginning of the year.
The Fishers-based parent of First Internet Bancorp had a milestone quarter thanks to a boom in mortgage activity, the company reported Wednesday afternoon.
PNC and Fifth Third rank as the second and third largest area bank by deposits.
Although redlining—discrimination in banking and lending based on someone’s race or where they live—has been illegal since the Fair Housing Act passed in 1968, analysts at Indiana University’s Public Policy Institute found that inequities in home-loan lending still exist.
State Bank will also move its Danville branch to 8589 Rockville Road in Avon, near the Hendricks Regional Health YMCA. That location is set to open Nov. 9.
