The merger announced Monday will boost Columbus, Ohio-based Huntington’s assets to about $168 billion, nudging it closer to regional competitors Fifth Third Bancorp and KeyCorp.
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.
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.
A newly public filing shows the co-founder of The Broadbent Co.’s net worth has fallen 60 percent, to $48 million.
Improved economy, loosening credit standards are driving increased lending.
Huntington National Bank, a subsidiary of Huntington Bancshares, operates nearly 50 branches and has about 600 employees in
the Indianapolis area.
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.
Local loans issued through the Small Business Administration’s popular 7(a) guarantee program plunged by an astonishing 64
percent for three of the city’s four largest banks during 2009, while overall lending in the program slipped 17 percent in
the metro area.
Last week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
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.