Local business bank parent reports third-quarter profit
Indiana Business Bancorp attributed its profit of 9 cents per share to higher non-interest income a lower loan-loss provision expense.
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Shelbyville’s SCB Bank scrambles for capital
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
Default notices, home seizures climb in Indiana, nation
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
Farm-profit volatility boosting risk for lenders, economist says
U.S. farmers face increased financial risk because of higher operating costs and volatile commodity prices, even as income this year reaches a record, said Michael Boehlje, an economist at Purdue University.
West-side Godby building in foreclosure
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building’s tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.
Centier Bank opens Indianapolis-area loan production office
The Merrillville-based bank is testing the waters before launching a retail-banking presence.
First Internet Bancorp reports lower quarterly profit
The company earned $765,000 for the period ended Sept. 30, compared with $1 million in the year-ago period. First Internet attributed the decline to the timing of gains from closed but not-yet-sold mortgages to the secondary market.
Old National’s profit grows 41 percent
The Evansville-based financial services holding company reported third-quarter profit of $16.8 million. Earnings would have been even better without expenses related to its purchase of Integra Bank.
PNC Financial’s quarterly earnings tumble
PNC Financial Services Group Inc., which has about 1,200 employees and 88 branches in the Indianapolis area, made less money from loans, deposits, fees and charges in the third quarter.
Lawmakers seek probe into banks’ new debit card fees
A widespread move among major banks to charge customers a fee for using their debit cards has stirred Democratic lawmakers to seek a Justice Department investigation on possible collusion.
Bank directors feeling greater scrutiny
Tough economy, regulations dampen interest in the positions.
Bank to report loss on sour Indianapolis loans
Columbus-based Indiana Community Bancorp, parent of Indiana Bank & Trust, said it will write off $13.3 million for the third quarter, primarily due to nine commercial customers in the Indianapolis area with total loan balances of $32.7 million.
Suit says Irwin Union Bank execs missed snowballing risk
The bankruptcy trustee's suit against the top three officers of the bank's parent seeks more than $500 million.
First Financial singled out as growing company in troubled industry
The bank that took over operations of failed Irwin Union Bank of Columbus two years ago recently announced the purchase of all 22 Flagstar Bank branches in Indiana.
Mortgage-default filings surge in Indiana, nation
Default notices sent to delinquent U.S. homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process. Indiana saw an increase of 46 percent, a bigger rise than every state except California.
National Bank of Indianapolis exec retiring
Philip B. Roby, who helped start the city’s largest locally based bank, will retire at the end of the year.
First Financial buying Flagstar’s 22 Indiana branches
First Financial said the $23 million purchase gives it a rare opportunity to expand its presence in the Indianapolis metro area at a time there are few acquisition targets available.
Fed to keep interest rate near zero for 2 years
The Federal Reserve said Tuesday that it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought and faces increasing risks.
Indianapolis-based banks struggle to emerge from slump
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
Indiana banks continue quest for tax consistency
Lobby prepares new pitch for next legislative session.