A national study finds that many community banks continue to prosper.
These businesses have received loans from financial institutions with a guarantee from the SBA.
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
“I have no intention of retiring Ã¢?? now or ever,” said Steve Stitle, CEO of National City Bank in Indiana, after the bank
was purchased by PNC Financial.
A rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.
Local companies that rely on credit have seen their borrowing power shrink and in some cases disappear as a deep freeze
in the nation’s credit markets drives fears of a broad economic slowdown. A handful of businesses, including
a Greenwood security firm and an Indianapolis contractor, already have shut down after credit dried up,
and others are on the ropes as troubled banks seek to limit their loan exposure.
A Maryland company has taken ownership of downtown’s 28-story M&I Plaza just three months before a major tenant departure
leaves the skyscraper 70-percent vacant. The new owner is CapitalSource Inc., a commercial finance and investment firm based
in Chevy Chase, Md. It had been a lender to the former owner, which defaulted.
Bank mergers have proven lucrative for local sign companies over the years. A string of mergers in the late 1980s and early
1990s wiped out the city’s three big national banks–American Fletcher, Merchants National and Indiana National. In the years
since, the industry has continued to consolidate, spawning a flurry of additional name changes.