Old National profit falls, but beats expectations
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed
to exceed analysts’ expectations.
Banking & Finance
Articles
White River Capital calls off First Chicago deal
Indianapolis-based White River Capital Inc. has quietly called off its merger with Itasca, Ill.-based
First Chicago Bancorp.
SKARBECK: Growth of private trading should have us all worried
It is ironic that in the aftermath of the credit crunch, with investors calling for more market transparency from Wall Street,
opaque trading markets are thriving.
Banks no longer in critical condition, but full recovery still distant
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before
making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly
traded banks with a presence in Indianapolis.
Banks building new branches despite online age
Bank transaction counts—the number of people going into banks to make a deposit, cash a check or
conduct some other form of business—have declined in recent years with the increased popularity
of direct deposit, online banking and easy ATM accessibility. So why add branches?
WOJTOWICZ: Stimulus is expanding small-biz lending
The economic stimulus package allocated $375 million to the U.S. Small
Business Administration so it could offer more generous terms to small-business borrowers.
INVESTING: Looming debt problems present an opportunity
Whenever this bear market bottoms—and there is a growing possibility that we will see new lows in coming months—millions of investors will be throwing all kinds of assets away for pennies on the dollar. The discounts so far could pale in comparison. So, be patient, be prudent and be ready.
INVESTING: High-frequency trading comes under scrutiny
A developing case of technology theft has shed light on the proprietary systems Goldman Sachs and other investment firms
use to make millions of dollars. A 39-year-old former employee at Goldman has been accused of stealing computer
code used in the company’s high-frequency trading system.
Noblesville man sentenced for mortgage fraud
A Noblesville man was sentenced to one year of home detention yesterday after pleading guilty to mortgage fraud in federal
court. Marvin G. Hampton also was ordered to pay $262,424.76 in restitution to three lending institutions.
Fifth Third taps new president of central Indiana operations
Cincinnati-based Fifth Third Bank yesterday named Nancy Huber president and CEO of its central Indiana operations in Indianapolis.
INVESTING: Microsoft a good bet to outperform market
In the not-too-distant past, Microsoft was the most dominant company on the planet. In 25 years, it had spawned the world’s
richest man along with products that became as ubiquitous as water.
HICKS: Recessions end, with or without government help
The worst is likely behind us, but difficult times lie ahead, especially for the unemployed.
HAUKE: Lower trading volumes suggest trouble ahead
We are not in peak vacation time yet and already volume is disappearing faster than a hermit crab being chased by a group
of 10-year-old boys. This s especially troubling if you are a bull.
Deloitte employees take part in company-wide volunteer day
Eli Lilly and Co. isn’t the only company to set aside a day for volunteering. The Big 4 accounting firm Deloitte had its 10th
annual IMPACT Day June 5.
Indiana Members Credit Union grows by acquisition
Indiana Members Credit Union, the metro area’s second-largest credit union, has acquired Marsh Employees Federal Credit Union.
Hoosier named to lead CDC trade organization
Jean Wojtowicz, executive director of the Indiana Statewide Certified Development Corp., has been elected to chair the National
Association of Development Companies, or NADCO, board of directors.
A bit of Lauth history
Regarding the May 25 story, [“Lauth granted reprieve,”] please note that Lauth Property Group is an offshoot of the original company founded by myself and Terry Eaton in 1976. It was then known as Ernst/Eaton Associates.
Indiana logs more complaints against collectors as pressure mounts to make debtors pay up
A lot of people owe money these days, and some of the agencies hired to pursue them are resorting to old- school tactics to
collect. Things like calling at all hours, threatening to have debtors jailed or fired, or employing abusive language.
Led by educators instead of investment specialists, state teachers fund fell into $67M hole
The people overseeing the Indiana State Teachers Association Insurance Trust had no background in investments or insurance, likely leaving them ill-equipped to grasp the ever-larger amounts of complicated investments the trust was buying.
Panel handicaps market recovery chances
A panel of five veterans of real estate and construction provided industry insights at IBJ‘s Power Breakfast May
1 at the Westin Indianapolis.