Local man gets 37 months in mortgage-fraud scheme
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
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Major stock indexes climb to yearly highs
Major stock indexes rose as much as 2 percent, including the Dow Jones industrial average, which jumped 203 points.
Record number of Indiana taxpayers e-filed this year
Indiana taxpayers filed a record 2.2 million electronic federal tax returns this year.
Huntington National Bank’s assets fell because partnership ended
Last week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
why.
Failed Charlotte skyscraper brings Indianapolis developer back to earth
The Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas, with more floors
than any building in the region except the Charlotte headquarters of Bank of America Corp.
Loan losses contribute to First Internet’s poor earnings
Indianapolis-based First Internet Bancorp on Wednesday said it lost $208,806 in the third quarter, as loan losses continued to increase.
Blue River posts loss on poor loan climate
Shelbyville-based Blue River Bancshares Inc. on Tuesday night said mounting loan losses contributed to a third-quarter loss of $356,000.
Buffet’s Berkshire buying railroad for $34B
Warren Buffet’s Berkshire Hathaway says it has agreed to buy Burlington Northern Santa Fe in a deal valuing the railroad at
$34 billion.
First Merchants posts quarterly loss on bad loans
Muncie-based First Merchants Corp. said Monday afternoon that loan charge-offs contributed to a loss of $6.4 million in the third quarter.
Economic turmoil hasn’t shaken up local banks’ market shares
One of the toughest runs for the finance industry since the Great Depression didn’t lead to a major shakeup in Indianapolis’
banking landscape. Substitute PNC’s brand for National City’s, and the top eight positions remain unchanged.
HICKS: Recession results in ‘great deleveraging’
On virtually every meaningful measure, this recession stacks up as only the third or fourth worst post-World War II recession, but its effects are much more profound in a few areas. One area that will be most apparent is the changes the economy has wrought on consumer credit.
Pace of life sciences venture capital deals in Indiana picks up
After no Indiana health and life sciences firms announced venture capital deals in the second quarter, five did so in the
third, and two more have already this month.
Steak n Shake’s Biglari adds intrigue by buying stake in insurer
The Indianapolis-based company’s CEO revealed earlier this year that he intends to use Steak n Shake as a holding company
that will pursue purchases “either related or unrelated to its ongoing business activities.”
SKARBECK: Lenders still not serious about serious reform
The early signs point to meek efforts by the Obama administration to address gaping regulatory issues.
Former bank manager pleads guilty to theft, arson
A former assistant manager of a Fifth Third Bank branch in Indianapolis has pleaded guilty to setting fire to the bank vault
in an attempt to cover his thefts.
Old National reports earnings well below expectations
Evansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted share, missing
consensus analyst expectations by about 5 cents per share.
Huntington Bancshares posts third-quarter loss
Huntington Bancshares Inc. says it lost money in the third quarter as the regional bank built up fatter reserves to cover
bad loans.
PNC profit rises despite growing loan losses
Shares of PNC Financial Services Group Inc. soared Thursday after the nation’s fifth largest bank said its profit grew sharply during the third quarter, even as loan losses rose.
Related-party loans pile up at Durham-owned finance firm
Indianapolis businessman Tim Durham has treated Ohio-based Fair Finance Co. almost like a personal bank since buying it seven
years ago, and now he, his partners and related firms owe it more than $168 million, records show.
Opportunists hunt deals in commercial real estate
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.