Regional bank Fifth Third sees 58-percent rise in profit
Cincinnati-based Fifth Third, which has more than 800 employees at roughly 45 branches in Indianapolis, on Thursday reported net income available to common shareholders of $594 million.
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Indiana banks finally regain pre-meltdown asset levels
Assets for Indiana banks have risen back to levels seen in 2008, and financial institutions are lending again. But smaller, community-based banks still face an array of challenges that could lead to more consolidation.
Fast-growing Stonegate Mortgage files for public offering
Stonegate ranked No. 1 on IBJ’s May list of fastest-growing Indianapolis-area private companies. The eight-year-old company saw revenue rocket from $15.5 million in 2010 to $95.5 million in 2012.
Ex-Lt. Gov. Skillman joins Old National board
Evansville-based Old National Corp. will pay Gov. Mitch Daniels’ sidekick Becky Skillman $70,000 a year in a combination of cash and stock to serve as a director.
Salin saves cash with video tellers
In what might be the strangest twist in banking technology in years, Indianapolis-based Salin Bank is the first financial institution in the state to install sophisticated, interactive video tellers.
Agency: Opting for overdrafts means higher fees
A U.S. agency says consumers who opt for overdraft coverage on their checking accounts pay higher fees and are more likely to have their accounts closed than those who decline it.
Bank gives Indy $1.4M to settle discrimination complaint
The settlement results from a complaint that alleged Wells Fargo's properties in white neighborhoods were much better maintained and marketed than properties in minority areas.
National mortgage settlement checks in the mail
Indiana Attorney General Greg Zoeller says checks totaling more than $26 million will be mailed to more than 18,000 Indiana consumers this month containing shares of the National Mortgage Settlement.
Bank seeks to foreclose on architectural firm’s HQ
KeyBank has filed a lawsuit against A2SO4 Architecture and is asking a judge to appoint a receiver to manage the property at 540 N. College Ave. The bank says it is owed nearly $1 million.
Old National to close 13 Indy bank branches
The move, part of a statewide effort to streamline operations and save money, will leave 27 Old National branches in the nine-county area.
First Merchants accused of overdraft fee violations
A lawsuit seeking class-action status alleges that the Muncie-based bank manipulated the timing of customers’ transactions to cause their checking accounts to bounce more frequently, generating millions of dollars in overdraft fees.
Spate of banking mergers may be just the beginning
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
First Merchants’ deal to make it state’s second-biggest bank
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.
Ruling keeps church ensnared in life insurance nightmare
A federal bankruptcy judge has slapped down an Anderson church that attempted to blame its bank for a failed scheme to finance church upgrades by buying life insurance policies on its elderly members.
Merchants, Citizens Bank to merge
Shareholders in Carmel-based Merchants will receive stock that was valued at $98.3 million before the announcement of the deal caused a huge spike.
FARRA: Don’t expect big dividends from banks anytime soon
Banks will not return to their status as reliable sources of shareholder dividends for three years or longer.
Horizon Bank gains access to Mass Ave with building purchase
Michigan City-based Horizon Bank bought the two-story building at 302 N. Alabama St. for $1.5 million and is embarking on a “substantial” investment in the property.
Banks scale back real estate needs as transactions shift online
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
First Internet earnings surge on commercial loan growth
The Indianapolis-based bank’s commercial loan portfolio grew to $109.1 million, a rise of 62 percent compared with the first quarter of 2012. Commercial real estate loans rose 46 percent.
Bank of Indiana parent files Chapter 11, to sell branches
The bankruptcy of Bank of Indiana's parent and the planned sale of its branches bring to a close management's quest to turn around an institution that was buffeted by borrower defaults during the financial crisis.