Old National Bancorp, the largest financial services company headquartered in Indiana, has agreed to buy Fort Wayne-based Tower Financial Corp. for about $107.7 million, the companies announced Tuesday.
Menard has countersued Tomisue Hilbert for “abuse of process,” saying she filed her lawsuit only after companies controlled by Menard removed the Hilberts as managers of a private equity firm and sued to recover millions of dollars in fees paid to the Hilberts.
The company may violate loan covenants in the next three to six months, and its ability to refinance a $280 million loan that matures in July 2014 is “highly questionable,” Moody’s says.
The town has started supporting tiny business loans in its tax-increment financing district.
September is traditionally the stock market’s worst month of the year, but there are several unique events in store over the next few weeks that could make trading even more turbulent.
Former money manager Keenan Hauke was sentenced in July 2012 to 10 years in federal prison after pleading guilty to running a Ponzi scheme that defrauded 67 investors of $7.1 million. Even more victims have emerged since the sentencing.
With more money in bonds than in publicly traded stocks, Indiana’s $27.1 billion pension fund took a beating in the Bernanke sell-off and closed the fiscal year short of its targeted return.
State securities regulators allege that principals of Omnicity Corp. goaded a 19-year-old to invest $100,000 from his inheritance into the wireless broadband firm so that it could clinch the purchase of an Ohio carrier in 2010.
Despite tougher federal laws aimed at curbing executive malfeasance, a study by an Indiana University professor advocates making shareholders more responsible for watching management—or facing financial penalties themselves.
Hundreds of black financial advisers have reached a $160 million settlement in a lawsuit accusing Wall Street brokerage giant Merrill Lynch of racial discrimination, a plaintiffs' attorney said Wednesday.
College sports’ governing body grew its investment portfolio to $527 million for the year ended June 30, with an 11-percent gain in its $304.5 million quasi-endowment and an 8.8-percent return in its $222.5 million operating reserve.
Indiana lawmakers grilled the head of the state's pension system Tuesday on a decision to push future retirees into a market-based system that could almost halve the amount they earn from annuity plans.
John K. Marcum, 49, portrayed himself as a trader and asset manager to raise more than $6 million from at least 37 investors in six states through his company, Guaranty Reserves Trust, the SEC alleges.
The SEC says the CEO of locally based biomedical firm Xytos Inc. has committed securities fraud
since 2010 by repeatedly publishing false information to investors about the company. Timothy Cook denies the accusations.
The latest high-tech disruption in the financial markets ratchets up the pressure on NASDAQ and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur.
First Internet Bancorp shares are up 105 percent for the year. Founder David Becker said the Indianapolis-based bank has been careful to be geographically diversified in its real estate holdings.
Indiana Gov. Mike Pence announced Thursday morning he had selected Dwayne Sawyer for the position. Sawyer has been a member of the Brownsburg Town Council since 2009 and became its president last year.
Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.
A northwestern Indiana lawmaker says he will push a measure next year that would change state law to allow local governments to file for bankruptcy like Detroit did in July.
It’s the latest in a string of leadership changes at the testing lab. Neff is coming from CHV Capital, the venture capital arm of Indiana University Health, where he had been CEO.
