The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
A second regional bank in the metro area in as many months has announced a change in its state leaders and area boundaries.
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction’s building at 6002 N. Michigan Road, and on personal property.
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank’s state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
The study by GoBankingRates.com finds that the average return on savings at Indiana banks is 0.056 percent. However, the average for Indianapolis-area banks was considerably higher.
What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.
Cincinnati-based Fifth Third, which has more than 800 employees at roughly 45 branches in Indianapolis, on Thursday reported net income available to common shareholders of $594 million.
BMO Harris and PNC lost some deposits, but the biggest local banks by market share remained the same.
The following statistics reflect performance of the 10 banks with the largest market shares in the Indianapolis Metropolitan Statistical Area.
Fifth Third Bank executive Kevin Hipskind's experience as a patient in the burn unit of Wishard Hospital played a role in a $5 million gift the Cincinnati-based bank is making for Wishard’s new Eskenazi Hospital, under construction at IUPUI.
Improved economy, loosening credit standards are driving increased lending.