Indiana Legislature approves mortgage certification program
Rating system will help homebuyers avoid the risks of borrowing.
Banks
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Banking reforms may bite weakest institutions
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry
is experiencing its deepest woes in decades.
Many banks cutting dividends to merely a penny
Banks used to take pride in having long records of increasing dividends. Now, about all most can say is they still pay one.
Community banks face fight of their lives against big players
Small, community banks will bet on their strength in customer service, and large banks will offer business customers lower
costs.
PNC-National City conversion ahead of schedule
The PNC Financial Services Group said Monday it has brought in 2.8 million former National City Bank customers and converted
560 branches since a $5.6 billion buyout less than two years ago. Branches in Indiana are set to switch over in June.
First Internet Bank suffers first loss since 2000
Problem loans led to a $2.1 million loss for the Web-based financial company in 2009.
Lawmakers probe banks’ lending to small businesses
U.S. House legislators want to get to the bottom of banks' roles in the economic recovery, both via loans to small businesses
and shouldering losses on commercial real estate lending.
Contorting bank regulators
A long-time bank observer says regulators are twisting into pretzels to avoid taking over Indiana institutions.
PNC to pay back bailout money, sell division
PNC, which operates dozens of bank branches in the Indianapolis area under the National City name, is selling its global investment servicing business to Bank of New York Mellon Corp. for $2.3 billion.
Magazine ranks Old National Bank among nation’s strongest performers
Forbes magazine has named Evansville-based Old National Bank the nation’s 18th-best-performing bank.
PNC profit rises despite growing loan losses
The bank’s $1.01 billion in profit and its $5.08 billion in revenue were better than analysts expected.
Competition is likely heating up to steal away National City private clients from PNC Financial
As PNC digests its acquisition of National City Corp., it probably is pulling out the stops to protect the lucrative customers
from being lured away by competitors.
Banks gobble TARP money, suffer losses
The housing meltdown and recession gave banks in Indiana and across the nation their biggest test in decades.
Indiana banker meets with Obama, Geithner
Mark Schroeder, CEO of Jasper-based German American Bancorp, was one of just 12 community bankers who talked shop Tuesday
with the president and Treasury secretary.
Former bank manager sentenced on theft, arson
Former Fifth Third Bank assistant manager Dwayne Roberts was sentenced Tuesday to two years’ home detention and two years’
probation.
Former Huntington National Bank exec alleges age discrimination
Michael Lewis, 53, filed a complaint with the Indianapolis office of the U.S. Equal Employment Opportunity
Commission Aug. 13 and sued Huntington Oct. 15 in Marion Superior Court.
Bank slogan gets acid test
The banking crisis isn’t the only reason to rethink the ubiquitous “We care” theme.
Some observers fear return of rising prices, stagnant growth
In the 1970s, stagflation—the unprecedented combination of stagnant economic growth and inflation—threatened to ruin financial institutions. Now some fear it might make a return.
NatCity name to remain at local branches until early 2010
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Indiana bank CEOs get bigger pay hike than peers
For banks, the last two years have been among the most tumultuous in history. Financial institution CEOs across the country
responded by trimming their raises in 2009. But in Indiana, bank chiefs didn’t follow form.