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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In this 250th episode of the IBJ Podcast, Peter “Pete the Planner” Dunn answers some of the most sensitive questions in personal finance.
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Two projects—one in the International Marketplace and another on the north side of Indianapolis—have been approved for financing by the City-County Council’s Metropolitan and Economic Development Committee.
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GeniPhys has developed a material known as Collymer, a highly-purified form of collagen that can be used to replace tissue that is lost in wounds and also forms “stable, fibrillar collagen scaffolds” that can help rebuild lost tissue.
Read MoreThe stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates, leaving the outlook for the Fed’s policies cloudier than at any time since it unleashed a streak of 10 straight rate hikes.
In April 2022, Cummins announced plans to spin off the business, then known as Cummins Filtration, which provides filtration products for trucks, off-highway industrial equipment and power generation systems.
Local entrepreneur and general partner Scott Kraege co-founded Ivy Ventures with Mike Reynolds, CEO of Indianapolis-based Innovatemap, and John Wortman, CEO and co-founder of Carmel-based Valeo Financial Advisors LLC.
A Federal Reserve report shows that banks raised their lending standards for business and consumer loans in the aftermath of three large bank failures. It’s a trend that could slow the economy in coming months.
Treasury Secretary Janet Yellen’s comments added even more urgency to a high-stakes meeting Tuesday between President Joe Biden and congressional leaders from both parties.
All over the country, small-business owners are feeling the early consequences of this spring’s banking crisis, which spanned two chaotic weeks in March and is still ricocheting through the economy.
U.S. businesses might be able to secure bank deposit insurance for accounts holding more than $250,000 if Congress agrees with the Federal Deposit Insurance Corp.’s new proposal.
Another quarter-point rate increase on Wednesday would leave the Fed’s key rate at 5.1%—a 16-year high and a full 5 percentage points higher than in March 2022.
Banks were initially slow to raise their payouts as the Fed raised rates because they were awash in deposits. But those deposits have shrunk over the past year because inflation forced consumers and businesses to dip into their savings.
The filing deadline for most taxpayers is Tuesday, though it has been extended for parts of Indiana, California, Alabama, Georgia, New York, Tennessee, Arkansas and Mississippi that were hard hit by severe weather.
The nation’s largest banks appear to be doing just fine despite a pair of historical bank failures last month that put the nation’s banking industry into crisis mode.
Small businesses are seeing the already-tough process of getting business loans get even tougher. They say they’re getting rejected for loans or seeing more unfavorable terms, meaning some plans for expansion are being put on hold.
Police arrived as shots were still being fired inside Old National Bank and killed the shooter in an exchange of gunfire, Louisville Metro Police Department Chief Jacquelyn Gwinn-Villaroel said.
U.S. banks are pitted against each other as regulators move to strengthen oversight after a series of failures undermined confidence in the financial system.
International Monetary Fund chief Kristalina Georgieva said the period of slower economic activity will be prolonged, with the next five years of growth remaining around 3%
Commissioner Danny Werfel delivered a tax-season pledge Tuesday that the agency will use an $80 billion infusion of cash to become faster, more tech-savvy and provide “real-world improvements” to taxpayers.
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.
Michael Barr, the nation’s top banking regulator, said during a Senate Banking Committee hearing that the Federal Reserve is considering whether stronger bank rules are needed to prevent a similar bank failure in the future.
While more than half of Silicon Valley’s assets will remain in U.S. receivership, the First Citizens deal announced late Sunday, at least initially, seemed to achieve what regulators have sought: a shoring up of trust in U.S. regional banks.
The failures of both Silicon Valley Bank and Signature Bank earlier this month mean venture investors and startups in Indiana and elsewhere are rethinking how and where they bank.
