PNC earnings sink on soured home mortgages
PNC Financial Services Group Inc. said Wednesday its second-quarter net income shrank 41 percent, as the bank set aside hundreds of millions of dollars to buy back home mortgages.
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JPMorgan says bad trade has ballooned to $5.8B
JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.
Regional investing conference heavy on Indiana banks
Event organizers say Wall Street isn’t the only place to drum up interest in stocks.
Old National names ex-Indiana chief justice as director
Old National Bancorp has appointed former Indiana Chief Justice Randall Shepard to its board of directors.
Heartland Bancshares approves acquisition by Horizon
The deal, effective July 17, will give the Michigan City bank its first presence in Central Indiana.
Bank of Montreal targets Midwest, Indy for growth
Bank of Montreal’s 2011 acquisition of Marshall & Ilsley Corp. is finally helping it make in-roads in the U.S. Midwest. It has identified five U.S. markets, including Indianapolis, where it aims to add new branches or make acquisitions.
AUDIO: Wiretaps capture Durham, co-defendants scrambling
A series of government-recorded phone calls have provided some of the most riveting courtroom moments during the fraud trial of Tim Durham and two co-defendants.
MainSource Bank snags prime former Borders space
MainSource Bank plans to open its first Indianapolis branch in part of the former home of Borders at the southeast corner of Meridian and Washington streets downtown.
South-side medical office building in foreclosure
Munster-based Citizens Financial Bank claims the owner of the building at 1340 E. County Line Road owes $4.1 million on a loan originating from 2002 and is seeking to have a court-appointed receiver manage the building’s operations.
Greenwood sues bank to collect $917,000 letter of credit
The City of Greenwood says a Minnesota bank owes it more than $900,000 to pay for street and sewer improvements left undone by the bankrupt developer of a mobile home park along U.S. 31.
JPMorgan Chase takes fire for ‘hedge,’ $2 billion loss
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
Hundreds losing jobs at local Aurora Bank office
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
Ex-bank exec Alley to take over Indiana revenue office
Former Fifth Third Bank president Mike Alley will take over as the state’s revenue commissioner. He’ll replace John Eckart, who resigned last week amid controversy over misplaced local option income taxes.
ALLEY: Where banks will find growth in the future
Demographics, technology will reward winning institutions.
SULLIVAN: New consumer agency could hinder economy
Protection must be balanced with allowing credit to flow
Developer Broadbent loses fight to keep finances under wraps
A newly public filing shows the co-founder of The Broadbent Co.’s net worth has fallen 60 percent, to $48 million.
Local PNC Bank exec joining law firm Krieg DeVault
Stephen A. Stitle will leave the bank to come aboard the law firm as a partner on May 1. Stitle has spent a combined 17 years at PNC and National City Bank, which PNC purchased in 2008.
Bank seeks $2M from estate of London Witte Group founder
The estate of Richard J. Salewicz, who died in 2010, is named in the foreclosure suit that also targets Tyson Corp., the company he owned on the southwest side of Indianapolis. Local accounting firm London Witte is not part of the court action.
Foreclosure sought for downtown’s Century Building
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
First Merchants shuns management from failed SCB Bank
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank’s CEO into the new ownership.