Evansville-based Old National Bancorp on Monday morning reported a third-quarter profit of $4 million, or 6 cents per diluted share, missing
consensus analyst expectations by about 5 cents per share.
It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical
to the project’s development has been scheduled for liquidation by a lender.
The credibility of the government’s $700 billion financial rescue program was damaged by claims a year ago that all of the
initial banks receiving support were healthy, a new report contends.
The Regions Bank name and logo are joining the city’s skyline atop One Indiana Square, also known as Regions Bank
Fees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is
expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are
particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June
Banks are fighting an ongoing battle with would-be identity thieves. Because banks are where the money is, the fight is
likely to go on a long time, with both thieves and banks growing in sophistication.
Evansville-based Old National Bancorp said this morning that it is selling $150 million of its stock in a public offering
and will use some of the proceeds to fund potential acquisitions.
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based
bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
The Securities and Exchange Commission said today that it has settled insider-trading charges against three local residents
who bought shares in First Indiana Corp. immediately before the July 9, 2007, announcement that it was being acquired by a
Milwaukee bank for a 42-percent premium.