Fifth Third to acquire Chicago’s MB Financial for $4.7 billion
Fifth Third is paying a premium to gain a bigger foothold in the Chicago market, where MB Financial is among the middle-market banking leaders with 86 retail bank branches.
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KeyBank announces new central Indiana market president
Juan Gonzalez, who was promoted from within, stepped into his new role at the bank Monday.
Wells Fargo expected to be fined $1B for lending abuses
The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national regulator, and the Consumer Financial Protection Bureau, the federal watchdog bureau.
Fed discussed ‘slightly steeper’ future rate hikes in latest meeting
Federal Reserve officials signaled rising confidence last month that a strong economy will lift inflation closer to its 2 percent target and that they may accelerate the Fed's pace of interest rate hikes as a result.
Bank of America building first local stand-alone center in Indy push
The bank has staked out the upscale Keystone at the Crossing submarket for a staffed, free-standing addition to its growing local operations.
Fed raises key rate, foresees two more hikes this year
The Federal Reserve is raising its key interest rate and signaling confidence in the U.S. economy's durability but plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.
Banks have returned to commercial real estate in a big way, but regulators urge caution
The segment crashed in the financial crisis that began in 2008, forcing banks to write off billions of dollars in loans. But it’s roared back since, and last year national commercial real estate lending surpassed its 2008 peak.
$1B First Financial-MainSource deal gives boost to army of advisers
Completing the transaction will be highly profitable for the investment banking firms representing the institutions.
U.S. problem-bank list continues to shrink
The number of financial institutions on the Federal Deposit Insurance Corp.’s problem-bank list has fallen below 100 for the first time in a decade.
Carmel-based Merchants Bancorp reports record profit for 2017
The bank, which went public in October, says it saw especially strong growth in its multifamily mortgage business last year.
Market’s turmoil could affect Federal Reserve’s rate decisions
The turbulence coursing through markets has raised speculation that Fed officials might decide to slow their pace of rate increases out of fear of upsetting the markets and possibly harming the economy.
Banking titan Andy Paine dies at age 80
Paine spent 37 years in banking, starting with Indiana National Bank, where he rose to president and chief operating officer. At his retirement, he was president and CEO of the Indiana arm of NBD Bank.
House advances ‘hillbilly venture capital’ bill pushed by payday loan industry
House Bill 1319, which would allow the short-term loan industry to offer high-interest consumer loans, is opposed by veteran groups, religious institutions and consumer advocates.
Fed leaves key rate unchanged at Yellen’s final meeting
The Federal Reserve said it expects the steadily strengthening economy to warrant further gradual increases in its benchmark rate.
Banks poised to reap big gains from tax reform
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Banks to sell off five Indiana branches as part of $1B merger
Cincinnati-based First Financial Bancorp and Greensburg-based MainSource Financial Group have agreed to sell off five bank branches in Indiana to resolve regulatory concerns that could stand in the way of their planned merger.
Mergers, acquisitions off to hottest start since 2000
North American companies, which fell out of favor among acquirers last year, are back on the shopping list in 2018, making up almost 60 percent of all announced transactions in 2018.
Two Hoosier companies pull off IPOs
OrthoPediatrics Corp. raised $52 million on Oct. 12, and Carmel-based Merchants Bancorp raised $115 million on Oct. 27.
Senate approves Powell to follow Yellen as Federal Reserve chair
Jerome Powell, 64, has served for 5-1/2 years on the Federal Reserve’s board. A lawyer and investment manager by training, many expect him to follow Janet Yellen’s cautious approach to interest rates.
First Internet reports record year for earnings
The Fishers-based parent of First Internet Bank had another big year despite a small decrease in profit in the fourth quarter.