’12 Days of Christmas’ items top $114,000
The price of lords-a-leaping and ladies dancing has spiked this holiday season, but other items mentioned in the carol "The Twelve Days of Christmas" still cost the same as they did last year.
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Bank tells tardy borrowers to get job—and offers to help
What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.
First Internet up-shifts in commercial lending
First Internet Bank raised eyebrows this month when it filed a $25 million secondary stock offering said to be for organic growth and “other general corporate purposes.”
Local hotelier files for bankruptcy on 7 properties
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.
Fee push helping banks overcome low interest rates
Two Indiana-based banks showed up on a national ranking of best non-interest income as a percentage of operating revenue: Evansville-based Old National Bancorp and South Bend’s 1st Source Corp.
Home loan banks drop objection to $8.5B settlement
Lawyers for the Federal Home Loan Banks of Boston, Chicago and Indianapolis on Wednesday told a New York Supreme Court judge they are withdrawing from the case against Bank of America Corp.
First Internet profit falls on rising interest rates
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
REED: Indiana’s bank, thrift stocks fully recovered
Most remember well the financial crisis that led to the Great Recession. The problems were complex and big, and there were many villains and many more victims.
After stock zooms up, Internet bank aims higher
Shares of First Internet Bancorp have more than doubled since December, when founder and CEO David Becker boosted the visibility of the stock by announcing it was shifting from the over-the-counter market to NASDAQ.
Obama to nominate Yellen as Bernanke successor
President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the nation's central bank, the White House said Tuesday. Yellen would be the first woman to head the powerful Fed.
Indiana bank cutting 80 workers after merger
Citizens Financial Bank president Daryl Pomranke said all the layoffs will be of employees in support roles such as operations and technology
Fed likely to slow bond buys despite tepid economy
On Wednesday, the Federal Reserve is expected to take its first step toward reducing the extraordinary stimulus it's supplied to help the U.S. economy rebound from its deepest crisis since the Great Depression.
Old National to acquire Fort Wayne’s top local bank
Old National Bancorp, the largest financial services company headquartered in Indiana, has agreed to buy Fort Wayne-based Tower Financial Corp. for about $107.7 million, the companies announced Tuesday.
After years of success, Harlan Laboratories caught in debt vise
The company may violate loan covenants in the next three to six months, and its ability to refinance a $280 million loan that matures in July 2014 is “highly questionable,” Moody’s says.
Pioneer in online banking thriving on diversification
First Internet Bancorp shares are up 105 percent for the year. Founder David Becker said the Indianapolis-based bank has been careful to be geographically diversified in its real estate holdings.
Indiana state banks regaining pre-meltdown assets
Recovery doesn’t mean banks have escaped challenges.
Regulators: JPMorgan owes $410M for price manipulation
The Federal Energy Regulatory Commission said the bank used improper bidding strategies to squeeze excessive payments from two power grid operators, including the Midcontinent Independent System Operator, which is based in Carmel.
Home Loan Bank taps CFO for top job
Cindy Konich is the new CEO of Federal Home Loan Bank of Indianapolis. She succeeds Milton J. Miller, 57, who retired July 1.
Bank seeks abatement to construct office space along I-69
Economic development leaders in Fishers are asking the Town Council to OK a six-year property tax abatement to help First Internet Bancorp construct as many as two office buildings.
First Internet earnings jump on lending gains
Commercial real estate lending for First Internet jumped 64 percent, to $112.7 million, in the second quarter. And commercial and industrial lending nearly doubled, to $15.3 million.