Rash of bank failures sure to spread to Indiana
Not a single Indiana bank has failed since the sector tanked last year. But Bob Jones, CEO of Old National Bancorp in Evansville,
figures it’s only a matter of time.
Banks
Articles
Venture firms recapitalize Advanced Physical Therapy LLC
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.
Locals settle First Indiana insider-trading case
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.
First Farmers acquiring CB Bank Shares
Converse-based First Farmers Financial Corp. said this morning it has agreed to acquire CB Bank Shares Inc. in Russiaville.
Banks no longer in critical condition, but full recovery still distant
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before
making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly
traded banks with a presence in Indianapolis.
Banking system’s history should help ease fears
Since people must have confidence in the financial system for it to function properly, it is incumbent upon our leaders to
take action and assure the people their money is safe.
Financial crisis yields opportunity for local banks
A national study finds that many community banks continue to prosper.
Crackdown on bank pay pinches Hoosier execs
When Sen. Chris Dodd decided to wage war on corporate excess, he had Wall Street fat cats in his sights, not people like Bob Jones, the folksy CEO of Old National Corp. in Evansville.
Small Business Administration grants loans to Indy businesses
These businesses have received loans from financial institutions with a guarantee from the SBA.
Foreclosed properties create quandary for financial institutions
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
Stitle: Bank’s sale to PNC fuels ‘burst of adrenaline’
“I have no intention of retiring â?? now or ever,” said Steve Stitle, CEO of National City Bank in Indiana, after the bank
was purchased by PNC Financial.
Greensfork Township State Bank to acquire local startup that failed to live up to high hopes
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.
Lean companies have best chance to survive
Make your business look as attractive as possible to your banker because you are competing for financing with other small
businesses.
Nervous banks cut off some borrowers, tighten reins on others
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.
Lender claims M&I Plaza when it fails to sell at auction
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.
First Indiana sells bank
Indiana’s largest locally based bank, First Indiana Corp., decided to end 92 years of independence in 2007, agreeing in July
to sell itself to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash, or $32 a share.
Chase donating gifts it hopes will be noticed
Not-for-profits that banked on consistent support from the banker down the street can no longer count on a tip of the top
hat, thanks to ever-larger mergers among institutions that have changed the dynamic of their charitable giving.
Banks squeeze into Hamilton County
At least 35 new bank branches have sprouted in Hamilton County in the last three years, and more are on the way. Familiar
names like Charter One and Chase have added eight and seven branches, respectively. Other institutions are entering the market.
Local sign makers enjoy brisk business thanks to bank mergers
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.