Developer in downtown hotel project sues bank in rift over relocating branch
Loftus Robinson plans to transform the 16-story tower into a 130-room Kimpton-brand hotel. But it says it has hit a snag with moving Centier Bank from the ground floor.
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Fed leaves key rate unchanged, but sees further hikes ahead
The Federal Reserve portrayed the economy as robust, with healthy job growth, low unemployment, solid consumer spending and inflation near its 2 percent target.
Fed likely to keep rates on hold, sketch a bright outlook
With the economy strong, wages rising and unemployment at a near-five-decade low, the Federal Reserve remains on track to keep raising interest rates — just not this week.
BMO Harris hires new Indiana commercial banking executive
BMO Harris has added a former JPMorgan Chase exec to lead its commercial banking efforts in central Indiana and around the state.
Indianapolis-based Salin Bancshares to be acquired in $135M deal
Salin Bank and Trust Co.—the third-largest privately held bank in Indiana—will take on the name of its acquirer after the deal closes in early 2019.
First Internet sees quarterly growth in profit, loans
The Fishers-based bank reported that the quality of its loans improved even as its loan portfolio grew larger. Much of the growth came from commercial loans.
Americans who don’t have bank account at lowest level ever
The survey by the Federal Deposit Insurance Corp. found the economic fortunes of the country’s most vulnerable people continue to get better. The biggest improvement happened among black and Hispanic households.
Former IPL chief executive lands job at state’s largest bank
Rafael Sanchez, who left his job as president and CEO of Indianapolis Power & Light Co. this year as part of a corporate restructuring, has been hired by another of Indiana’s corporate heavyweights.
Federal Reserve officials discussed hiking rates to ‘restrictive’ level
Minutes of the Federal Reserve’s latest policy meeting show that a few participants thought the Fed’s key rate would need to “become modestly restrictive for a time” to prevent inflation from climbing too high.
National Bank of Indianapolis retains focus on central Indiana market
Today—as it was in 1993 when the bank launched—its leaders focus on reaching customers in four categories: small to medium-sized businesses, professionals, not-for-profit organizations and money management. “We haven’t changed that strategy in 25 years,” said Mickey Maurer, the bank’s board chairman.
Trump blames Fed for stock market rout, says he won’t fire Powell
President Donald Trump repeatedly criticized the Federal Reserve over the past 24 hours as markets plunged, saying the central bank was “going loco” with too many interest hikes.
Trump steps up Fed pressure with ‘gone crazy’ jab after market sell-off
President Donald Trump slammed the Federal Reserve as “crazy” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.
Fed raises rates for third time this year with one more hike expected
The Federal Reserve on Wednesday lifted its short-term rate for the eighth time since late 2015, and the Fed indicated that it expects to continue gradual increases.
Fed poised to raise rates for a third time this year
The modest rate increase that's widely expected reflects the continued resilience of the U.S. economy, now in its 10th year of expansion, the second-longest such stretch on record.
U.S. credit scores hit new high while household debt skyrockets
The new record comes on the heels of other signs that consumers are finally shrugging off a recession hangover, despite stubbornly stagnant wages that haven’t matched mushrooming corporate revenue.
OneAmerica sailed through financial crisis but still learned lessons
An analysis by OneAmerica of 32 major life insurers found that it was the only one that realized a gain on its investment portfolio from 2008-2010.
Regions Bank names new market executive in central Indiana
Erik Miner succeeds Leslie Carter-Prall, who was recently promoted to leader of private wealth management throughout Regions’ entire 15-state territory.
Powell signals more hikes ahead if U.S. economy stays strong
Federal Reserve Chairman Jerome Powell said the Fed recognizes the need to strike a careful balance between its mandates of maximizing employment and keeping price increases stable.
Fed keeps key rate unchanged while signaling future hikes
In a brief policy statement, the Federal Reserve noted a strengthening labor market, economic activity growing at “a strong rate,” and inflation that’s reached the central bank’s target of 2 percent annual gains.
Lake City coming downtown; other banks also add branches
Lake City, part of Warsaw-based Lakeland Financial Corp., will open an office this fall at 101 W. Ohio St.