Things to watch for from the Federal Reserve on Wednesday
Chairman Jerome Powell will begin a new era of communications by holding a news conference after each of the Fed's eight meetings every year, up from four news conferences a year.
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Fed likely to send reassuring note of patience on rate hikes
With pressures on the U.S. economy rising, the Federal Reserve has been signaling that it’s in no hurry to resume raising rates after having done so four times in 2018.
Leading bank executive predicts another round of U.S. bank mergers
Industry executives have long predicted a wave of bank mergers that’s so far played out only in smaller or mid-sized deals.
Powell pledges flexible rate policy, won’t quit if Trump asks him
Federal Reserve Chairman Jerome Powell said the central bank can be patient as it assesses risks to a U.S. economy and will adjust policy quickly if needed.
Wells Fargo pays $575 million to settle state investigations
The settlement includes $5.2 million for Indiana, according to state Attorney General Curtis Hill.
National Bank of Indianapolis CEO retiring after 25 years at helm
President, chief executive and bank co-founder Morrie Maurer plans to retire Jan. 4, to be succeeded by a longtime executive within the organization.
Trump rips Fed as economy’s ‘only’ problem; doesn’t mention Powell
President Donald Trump renewed his attacks on the Federal Reserve, commenting publicly on the central bank for the first time following last week’s interest-rate hike and reports he has discussed firing Chairman Jerome Powell.
Carmel, PNC Bank reach agreement on land sale for mixed-use project
Carmel filed a lawsuit in August to take control of PNC’s North Range Line Road property, but the bank agreed in an out-of-court deal to sell the land for $2.5 million.
Investors thrashing bank stocks, despite solid earnings
Investors have turned pessimistic about everything from the inevitability of a U.S. recession to growing international trade disruptions and higher loan defaults.
Fed lifts rates for 4th time this year but sees fewer hikes
The Fed's updated forecast projects just two rate hikes next year, down from three that monetary policy body had predicted in September.
After the Fed’s likely rate hike this week, all bets are off
On Wednesday, the Fed is set to announce its fourth rate hike of the year. But after this week, no one is sure what it will do. Neither, most likely, is the Fed itself.
Carmel-based Merchants Bancorp to acquire Florida-based lender
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
Federal Reserve survey cites rising concerns about trade tariffs
The report, known as the beige book, found that optimism about the future had waned somewhat, with business contacts citing “increased uncertainty.”
Powell: U.S. economy healthy, rate hikes aren’t automatic
Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year, igniting a rally on Wall Street.
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.
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.