$3B Disciples pension fund in transition
Rev. Todd Adams takes the helm this summer, succeeding James P. Hamlett, 67, who is retiring. Adams will aim to keep the fund on strong footing despite declines in church membership.
Banking & Finance
Articles
Wells Fargo taps Martinez for Indy leadership team
Candelario Martinez has been named regional vice president with Wells’ Indiana middle market commercial banking operation, which serves private businesses with $20 million or more in annual revenue.
Feds reach $15M deal in suit over failed Indiana bank
Irwin Union Bank was one of a few Indiana bank casualties of the Great Recession. The Federal Deposit Insurance Corp., which sued three former officers in 2013, has reached a settlement with those defendants.
Mainstreet Health to seek $95M in Canadian share offering
Mainstreet Health Investments Inc. is headquartered in Toronto but controlled by Carmel-based real estate developer Mainstreet Property Group.
Stonegate shares slip after firm reports major revenue slide
Stonegate Mortgage Corp. kicked off 2016 in a slump, disappointing Wall Street with a steeper-than-expected revenue decline and a first-quarter loss.
Longtime Huntington exec Newbold plans retirement
Mike Newbold, regional president for Huntington National Bank in the central Indiana market since 2006, plans to retire this summer, Huntington Bancshares Inc. announced Tuesday morning.
Years after Irwin Union’s failure, a lawsuit yields settlement
The FDIC has settled a lawsuit against four former executives of the bank. Meanwhile, in a separate suit a bankruptcy trustee continues to press his claims against three other executives.
Massive merger of pawn operators includes 18 Indy locations
The No. 1 player in the U.S. pawn shop market has agreed to buy the No. 3 firm for about $994 million in stock as a regulatory crackdown reshapes the non-bank lending industry.
Lizton Financial to acquire Indiana Business Bancorp
Indiana Business Bancorp, a community bank with a single branch on the north side of Indianapolis, has agreed to a $12.5 million merger with Lizton Financial Corp., a Hendricks County-based bank with 11 branches in central Indiana.
Broad Ripple media firm nets $25M in equity round
Odyssey, a Broad Ripple firm behind a fast-growing website for millennials, has raised a game-changing sum as it plans more hires.
Fed likely to keep rates unchanged in face of global slump
With the global economy struggling and U.S. inflation still below the Fed's target rate, many economists see little likelihood of a rate increase even before the second half of the year.
Gannett makes $815M bid for Tribune Publishing
The publisher of USA Today and the Indianapolis Star went public with an $815 million offer for Tribune, which owns the Chicago Tribune and Los Angeles Times.
First Internet reports record quarterly earnings
The Fishers-based parent of First Internet Bank said it earned $2.4 million in the first quarter and increased its loan portfolio beyond $1 billion.
Questions abound as HHGregg tries to right itself
After all the turmoil, investors are eager for signs that interim CEO Robert Riesbeck is righting the ship.
State’s life sciences sector on rise while struggling with talent, capital
Shortages of workers and investment dollars remain the two biggest challenges for Indiana’s life sciences industry, which otherwise is showing robust vital signs and embarking on high-profile collaborations.
CNO Financial acquires stake in investment firm
The deal also calls for CNO to make general account investments of about $250 million over an undisclosed period of time. It also agreed invest $30 million in TCP's publicly traded business development company, TCP Capital Corp.
Stonegate Mortgage president gets keys to CEO’s office
The Indianapolis mortgage firm has promoted James Smith to the top spot vacated last year in an abrupt resignation by its founder.
Indiana Bar Foundation gets $7M from mortgage settlement
The Indiana Bar Foundation will only be able to use its settlement funds for programs covering mortgage foreclosures and community development, foundation leaders said.
Hoosier startups grab $24 million in VC in first quarter
As venture investments ebbed in the first quarter nationally, Indiana slightly increased its pace of fundraising. Most of the funds, though, went to one company.
Finance officials facing a chronically weak global economy
The International Monetary Fund on Tuesday downgraded its outlook for growth for most regions and for the global economy as a whole. It now foresees a weaker financial landscape than it did in January.