As Trump’s deadline for a cap on credit card rates looms, banks have only questions and no answers
So far, the White House has not provided any detail about what will happen to credit card companies that don’t lower card rates.
Banking
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Q&A with Mike Schrage: For Centier Bank CEO, focus is on serving communities
Schrage, now 77, sat down to talk with IBJ about his 53-year tenure with Centier Bank, the future of the company, his philosophy on leadership and his love of reading.
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Q&A with First Internet Bank’s David Becker on apprenticeships as workforce training
Becker expects the bank’s apprenticeship program will gain momentum when changes to the high school diploma take effect, beginning with the class of 2029 (current eighth-graders).
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PNC Bank to close one of its downtown branches
In a letter to customers, PNC said it plans to close the branch in mid-August while leaving its other downtown branch open.
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IBJ Podcast: Internet banking pioneer Becker has bucket list but isn’t going anywhere
The First Internet Bank of Indiana founder is 69 years old and says he has no plans to hand over the reins of CEO and chairman given that developing new products and services for the bank scratches his entrepreneurial itch.
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Articles
Indianapolis startup bank Generations set to launch early next year with two retail locations
Generations is set to be Indiana’s first minority depository institution—and one of only 153 operating in the United States and its territories. But the bank will be open to anyone.
Business owners express optimism amid economic challenges, PNC survey shows
PNC Chief Economist Gus Faucher said business owners nationally and in the Indianapolis area are optimistic about their prospects despite ongoing concerns about inflation and possible recession.
IBJ names 20 in their Twenties honorees for 2025
The up-and-coming leaders represent business, the arts and culture, philanthropy, government and community service.
Fairbanks Foundation awards $13M to create new statewide apprenticeship program
The first students in the Career Apprenticeship Pathway, or INCAP, will start in fall 2026 and split time between school and the workplace.
Anderson-based credit union opening Martin University office
Anderson-based Lampco Federal Credit Union has formed a partnership with Martin University and plans to open a part-time office at the Indianapolis school within weeks. It’s part of Lampco’s broader push to gain members in Marion, Hamilton and Hancock counties.
Black Hoosier businesses still skeptical of banks
Experts say the hesitancy of Black business owners to borrow stems from historical neglect of those customers by traditional banks—an opinion backed by extensive historical research.
Giving a ‘hand up’: Special purpose credit programs gain traction with local lenders
SPCS is a tool that a growing number of lenders are adopting to help improve credit access for underserved groups.
They have been around since the 1970s, but they’ve recently become a lot more popular.
Merrillville-based Centier Bank expanding in Indianapolis market
Merrillville-based Centier Bank, which entered the Indianapolis market in 2011, is in the middle of a local growth spurt that includes three new branch locations and three additional relocations by early next year.
Families sue gun shop that sold AR-15 used in bank shooting that killed 5
The civil suit alleges River City Firearms should have noticed red flags when the shooter bought the gun six days before killing five Old National Bank co-workers..
Average long-term mortgage rates rise again, reaching their highest level in 4 weeks
The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%.
Loan delinquency rates on the rise
Increasing numbers of borrowers are falling behind on their credit-card and auto-loan payments, but banking and economic experts say this is not necessarily a sign of economic troubles ahead.
Bank of America continues expansion in Indianapolis market
North Carolina-based Bank of America has opened 19 area branches since entering the Indianapolis market in 2017, including a new one in Carmel. It plans to open at least three more by 2025.
First Republic Bank seized, sold to JPMorgan Chase
Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S.
Chase exec Al Smith set to retire after six decades in banking
Smith, 82, will be wrapping up a 59-year banking career when he retires in May. He has spent his entire career working for banks that are now part of J.P. Morgan Chase & Co.
Indiana pension fund ‘monitoring’ Silicon Valley Bank developments
The Indiana pension system is keeping a close eye on its investment in a debt fund managed SVB Capital, a venture capital firm that is a subsidiary of Silicon Valley Bank’s parent company but separate from the bank itself.
Indiana 250 spotlight: Juan Gonzalez
“I worry about how our society is becoming more divided and less willing to talk/compromise/work together. We need a society where we all work together for the betterment of all of us.”
Crypto firms acted like banks, then collapsed like dominoes
Last week, Genesis filed Chapter 11, joining Voyager Digital, Celsius and BlockFi on the list of companies that have either filed for bankruptcy protection or gone out of business.
Pennsylvania-based Northwest Bank to open regional office in Fishers
Pennsylvania-based Northwest Bank, which entered the Indiana market in 2020 with its acquisition of Muncie-based MutualFirst, has been beefing up its local workforce since then.
Indiana to tax student loan forgiveness, similar to other states
Democratic state Rep. Rep. Greg Porter of Indianapolis condemned the policy in a statement Tuesday and said he was drafting legislation to retroactively eliminate state income tax on debt relief.