Chase CEO drops in to quiz Indianapolis employees
Jamie Dimon and other top executives of the nation’s biggest bank were in town Wednesday to ask local employees about what’s working and what needs fixing. Some could join him on a bus trip.
Banking & Finance
Articles
Castleton nightclub manager gets 15 years on drug, laundering charges
Investigators say Pierre Burnett, who managed Epic Ultra Lounge (formerly Tantrum), was the leader of a major heroin and cocaine distribution ring in the Indianapolis area.
Old National making entry into Minnesota with $303M acquisition
Old National Bancorp. announced plans Tuesday to acquire St. Paul, Minnesota-based Anchor Bancorp Inc.
Navient can’t block U.S. claim it duped student debtors, judge rules
Student loan giant Navient Corp., which has major operations in Fishers, has suffered a pair of courtroom defeats in its attempt to block government lawsuits alleging borrowers had been mistreated.
With 401(k) accounts booming, what should investors do?
Now that stocks are at record highs and the market is tranquil, it’s easy to feel comfortable leaving your account on autopilot.
Holcomb preparing to put $250M into startups
The state’s new Next Level Fund will invest up to $250 million over the next decade into a need Hoosier startups are starving for—venture capital.
National Lampoon sale closes book on era rife with scandal
Philadelphia-based PalmStar Media has bought National Lampoon Inc., a deal that severs the final ties between the company and a contingent of Indianapolis shareholders, including convicted fraudster Tim Durham.
UPDATE: Dow Jones industrial average tops 22,000 for first time
Apple Inc.’s 5 percent gain on Wednesday, sparked by an optimistic sales forecast, propelled the Dow Jones to another record high.
Insurance agencies agree to merger
The two firms that are merging, Brownsburg-based Hometown Insurance and Zionsville-based Ward Insurance Services, have a combined 16 employees.
Private equity firms’ acquisition targets get pricey
Private equity funds are getting larger, and new players are entering the market. This translates into more competition for deals, which is driving up prices.
Fed leaves rates alone but moves closer to selling off bonds
The Fed noted Wednesday that inflation has stayed undesirably low even though the job market keeps strengthening. Many economists say they foresee no further rate increases this year unless inflation picks up.
Cincinnati-based First Financial buying MainSource for $1B
The two banks have overlapping footprints. As a result, First Financial said that after the merger is complete it expects to close 45 to 50 offices.
Bloomington financial adviser sentenced to 33 months in prison
Authorities say the man defrauded a longtime client out of nearly $1.2 million and spent that money on vacations, golf club memberships, meals and retail purchases.
Duke Realty moving up to S&P 500 stock index
S&P Dow Jones Indices on Wednesday said the Indianapolis-based real estate investment trust would be moved from the S&P MidCap 400 index to the S&P 500 index starting July 26.
First Merchants completes acquisition of Independent Alliance Banks
The merged companies make up the second-largest financial holding corporation headquartered in Indiana, behind Evansville-based Old National Bank Bancorp.
Key HHGregg executives could pocket $675,000 in incentive bonuses
Executives eligible for the additional pay, if certain benchmarks are hit through the company’s bankruptcy, include Kevin J. Kovacs, HHGregg’s chief financial officer and acting CEO.
Investor’s IRA helping to house down-and-out veterans
Using a self-directed Roth IRA account, John Gremling buys and sells property to rent out to tenants, including veterans seeking help from groups like Hoosier Veterans Assistance Foundation of Indiana.
Fed leader Yellen tells Congress to expect more rate hikes
Federal Reserve Chairwoman Janet Yellen told Congress on Wednesday that the central bank expects to keep raising a key interest rate at a gradual pace and also plans to start trimming its massive bond holdings this year.
Indiana venture capital activity softens in latest quarter
Two recently published national reports show Indiana venture capital activity cooling off in the second quarter. And per-deal investment averages remain relatively low.
Indiana bankruptcy filings take downward turn
Bankruptcy filings in Indiana slipped slightly in 2016 while average monthly income inched higher, mirroring a national trend highlighted in an annual report.