Cost cutting planned by Integra Bank’s new owner
Old National Bank President Bob Jones said an undetermined number of jobs will be eliminated, with the bulk of them being branch managers and other management positions.
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PNC Financial quarterly earnings top expectations
PNC Financial, which has 88 Indianapolis-area branches, reported a nearly 13-percent increase in second-quarter earnings, as the regional bank set aside far less money to cover bad loans.
Lender’s suit says homebuilder owes $12.8M on loans
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
Smulyan says Emmis ready ‘to go back on offensive’
Emmis' sale of two stations in Chicago and one in New York City will allow the company to chop more than $100 million off its $331 million in long-term debt—clearing the way for it to arrange a refinancing under favorable terms.
East-side Ramada fetches $1.3M in online auction
It's not yet clear who submitted the winning bid for the 188-room hotel, which is near Interstate 465 and Pendleton Pike.
Effort to save minority car dealer lands Bill Mays in ditch
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
Renaissance Bay heads for sheriff’s sale
A $150 million project that slammed head-first into the recession is slated for a sheriff's sale later this month.
WOJTOWICZ: Relief available for firms with falling real estate values
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
Merrillville-based bank targets Carmel
Centier Bank, a financial firm with 45 branches in northwest Indiana, has opened a business banking office in Carmel and is considering future expansion in the Indianapolis-area market.
Grameen Bank to open Indianapolis branch
City would become third U.S. location for lender that makes small business microloans to the poor.
SHEPHERD: Credit cards hurting too many businesses
Expensive personal credit undermines credit scores and ultimately the odds of more traditional lending.
Regional banks targeting midsize companies in Indiana
Improved economy, loosening credit standards are driving increased lending.
Credit unions gun for more traditional bank business
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.
Northwest-side medical building facing foreclosure
The operator of the building at 8424 Naab Road near St. Vincent Hospital is accused of owing an Illinois investment firm $4 million.
SKARBECK: Getting a banker’s thoughts on financial reform efforts
Dimon believes boards and regulators “are more attentive to risk” now—a duty that was sadly trumped by greed and indifference in the years leading up to the credit crisis.
East-side apartment complex facing foreclosure
One West Bank in California says it is owed nearly $3.3 million, and is seeking to foreclose on Red Mill Apartments near East 38th Street and North Franklin Road.
Statehouse fight continues over bank-insurance fund
Indiana lawmakers likely will avoid tapping an obscure bank-insurance fund to help bolster state coffers, but bankers may not survive the battle completely unscathed.
Bank seeks foreclosure on two strip centers
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city’s northwest side and Lakewood Shops on the northeast side.
Residential developer declares bankruptcy
John Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel, is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
Local banks see small-business lending surging
Chase and Fifth Third of Indiana saw 57-percent and 56-percent spikes, respectively, in loans to state businesses last year. They forecast similar growth this year.