REED: Conditions for bank mergers thaw following long winter
A few Indiana banks enjoy prices in excess of 150 percent of book.
Banking & Finance
Articles
First Merchants has sights set on metro area growth
Boone, Hancock counties on the Muncie-based bank’s radar.
At 92, Danielson’s banking career is still going
City Securities co-chairman still dispenses wisdom accumulated over a career touching on everything from baseball to folding doors.
Emmis shares again escape NASDAQ delisting
The NASDAQ exchange notified the Indianapolis-based company on Tuesday that its stock avoided delisting after shares traded above $1 for 10 consecutive trading days. Emmis has been in danger of losing its NASDAQ status for several years.
Angie’s List prices shares at $13 for stock offering
The Indianapolis-based company said it plans to sell 8.4 million shares, most of them held by current stockholders.
Feds say wiretaps show evidence of financial plot
A federal judge in Indianapolis refused to throw out wiretap evidence in the $200 million fraud trial of former Indiana businessman Tim Durham as the government outlined a case largely based on those recordings.
Indiana slips in life sciences funding
Indiana has taken “a giant step backward” in the availability of early-stage capital for life sciences companies, according to the Indiana Health Industry Forum—which also has a few ideas on how to reverse those developments.
JPMorgan Chase takes fire for ‘hedge,’ $2 billion loss
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
Oil refiner Calumet unleashes $150M stock offering
With its shares trading up more than 60 percent from the doldrums of last fall, Calumet Specialty Products Partners rolled out plans to sell another 6 million shares of stock, raising more than $150 million.
Noble Roman’s top investor loses Green Mountain chair
Green Mountain Coffee Roasters Inc. has stripped founder Robert P. Stiller of his position as chairman after he sold shares to meet a margin call at a time when the company’s trading policies prohibited such sales.
Once-promising Arcadia Resources closing doors
The health care company that once promised to create 900 jobs in central Indiana has agreed to cease operations after a major lender moved to foreclose on the struggling Indianapolis-based business.
Growth tear swells Simon Property Group
Simon Property Group Inc. this year joined the Standard & Poor’s 100 Index, a listing of the nation’s largest and most established companies including Apple, Coca-Cola and McDonald’s. The Indianapolis-based company is the only real estate company on the list and is now the largest real estate company in the world.
After years of ‘pushing water uphill,’ Emmis now nimble
The Indianapolis media company is on track to have less than $75 million in debt by this summer—down from $1.6 billion before it launched the divestiture of its TV stations seven years ago.
Angie’s List files to sell $75 million in stock
The offering could include up to $75 million of its common stock, including $10 million to be sold by the company and the rest by shareholding officers. Most of the funds will be used to finance an ongoing advertising campaign, Angie’s List said in its filing.
Local real estate developer files for bankruptcy
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
Emmis gains extension on NASDAQ listing
Emmis Communications Corp. shares will remain listed on the NASDAQ exchange at least until Aug. 27 under an extension granted by the well-known stock index.
Hundreds losing jobs at local Aurora Bank office
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
Motley Fool puts Angie’s List IPO on its ‘toxic’ list
Investor site pans companies whose stock advanced in spite of years of losses.
Judge rejects Durham motion to throw out indictment
The ruling by federal Judge Jane Magnus-Stinson is a big setback for Durham and his attorney, John Tompkins, who in court papers had alleged “outrageous government misconduct.”
Real estate exec’s bankruptcy filing lists $13.3M of debt
Philo Lange, former managing partner of NAI Olympia Partners, lists nearly $12 million in unsecured claims, almost half of which is owed to PNC Bank, according to court documents.