Banks now have until October to avoid having preferred shares auctioned by federal government.
Central banks around the world worked Wednesday to give banks easier access to dollars, jolting stock markets and easing fears of a global credit crisis. The Dow Jones industrial average had its biggest daily gain since March 2009.
Portugal’s efforts to climb out of its economic crisis suffered a double setback Thursday as its credit rating was downgraded to junk status and a major strike gave voice to broad public outrage over austerity measures that have squeezed living standards.
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
Small, community banks will bet on their strength in customer service, and large banks will offer business customers lower
It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
The credibility of the government’s $700 billion financial rescue program was damaged by claims a year ago that all of the
initial banks receiving support were healthy, a new report contends.
Fees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is
expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are
particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June
Regulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible
suspension of its business.
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before
making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly
traded banks with a presence in Indianapolis.
The worst is likely behind us, but difficult times lie ahead, especially for the unemployed.
Within a month of joining the board of Evansville’s Integra Bank Corp. Mike Alley, former CEO of Fifth Third Bancorp’s central Indiana operations, had become Integra’s interim CEO.