Merchants, Citizens Bank to merge
Shareholders in Carmel-based Merchants will receive stock that was valued at $98.3 million before the announcement of the deal caused a huge spike.
Banking & Finance
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FARRA: Don’t expect big dividends from banks anytime soon
Banks will not return to their status as reliable sources of shareholder dividends for three years or longer.
Indiana credit unions are booming again
Credit unions last year posted record earnings, thanks largely to lower loan-loss reserves, as well as to growing memberships, growing debit cards, selling off mortgages and stealing business loans away from banks, their arch rivals.
Horizon Bank gains access to Mass Ave with building purchase
Michigan City-based Horizon Bank bought the two-story building at 302 N. Alabama St. for $1.5 million and is embarking on a “substantial” investment in the property.
Stocks soar to all-time high on employment news
A stronger-than-expected pickup in hiring last month lifted the stock market early Friday, pushing the Dow Jones industrial average above 15,000 and the Standard and Poor's 500 index above 1,600 points for the first time.
New seed fund aims to make Indiana a hotbed for digital health startups
Infuse Accelerator hopes to make early-stage investments in 12 to 15 companies a year.
Venture capital favoring later-stage firms
Getting $50,000—often from friends and relatives—to develop a product and set up a company still is easy enough in Indiana, small-business leaders and venture capitalists say. But once a firm needs a few million dollars to grow into a revenue-generating operation, the area can’t compete with Silicon Valley’s magnetism for venture capital.
Fair Finance investors still empty-handed as trustee plows on
Many of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal to fight litigation for years.
Banks scale back real estate needs as transactions shift online
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
Pace of venture capital funding slows in Indiana, Midwest
Seven Indiana companies attracted $16.4 million in venture capital during the first quarter. Nearly all the money was paid out to Carmel-based ChaCha Search Inc., which secured a $14 million investment in January.
First Internet earnings surge on commercial loan growth
The Indianapolis-based bank’s commercial loan portfolio grew to $109.1 million, a rise of 62 percent compared with the first quarter of 2012. Commercial real estate loans rose 46 percent.
Indiana foreclosure prevention program expanding
State officials estimate that about 10,000 Indiana homeowners will get help in making their mortgage payments under an expansion of a federally funded foreclosure prevention program.
Stock market rebounds from worst day of the year
Good news on housing and earnings Tuesday morning helped stocks recover from a dismal Monday, when stocks suffered their biggest one-day decline since November.
Falling commodities give Dow worst day of the year
The Dow Jones industrial average tumbled 265.86 points Monday to close at 14,599.20, a decline of 1.8 percent.
Indiana pension shifts to international bonds
The Indiana Public Retirement System recently issued a request for proposals from international fixed-income managers and received 16 responses by the April 5 deadline. The $27.1 billion retirement system will hire two managers to oversee $900 million.
HHGregg throws lifeline to employees with underwater options
The company this month filed papers gave option holders the right to exchange their current holdings for new options with an exercise price set at the current market price.
Bank of Indiana parent files Chapter 11, to sell branches
The bankruptcy of Bank of Indiana's parent and the planned sale of its branches bring to a close management's quest to turn around an institution that was buffeted by borrower defaults during the financial crisis.
Lilly pulls back from proposals lowering takeover barriers
Fortunately, a Lilly takeover looks less likely today than it has in a long time—for both obvious and more subtle reasons.
First Internet Bancorp jumps into dividend game
The parent of First Internet Bank late last month declared a dividend of 6 cents per common share payable April 15 to shareholders of record April 1.
Carmel financial adviser accused of using faith to prey on victims
A central Indiana man banned from selling investments faces 10 securities fraud counts for allegedly using shared Christian beliefs to dupe clients out of more than $580,000.