Banks brace for bad-loan barrage by socking away millions
Amid the economic uncertainty—even though some banks express reasons for optimism—Indiana-based financial institutions are preparing themselves now for the losses that likely lie ahead.
Indiana Banks
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20 years after launch, nation’s first internet-only bank is on a roll
Fishers-based First Internet Bancorp has had strong double-digit percentage growth in recent years, while most banks are growing in the mid-single-digit range.
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Indiana-based banks didn’t cede PPP loans to big rivals
Of the 20 banks issuing the most PPP loans to Indiana borrowers, 11 were headquartered in the state—many of which went to extraordinary lengths to extend as many loans as they could.
Indianapolis Monthly to vacate longtime offices, make way for STAR Bank on Circle
The bank will use the three-story building that fronts Monument Circle for lending offices and a branch location. The magazine’s staff plans to move into the adjacent headquarters for Emmis Communications.
Centier Bank names new Indy-area market president
Based in Merrillville, Centier has 61 banking centers throughout the state, including six in the Indianapolis area.
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.
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.
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.
National Bank of Indianapolis retains focus on central Indiana market
Today—as it was in 1993 when the bank launched—its leaders focus on reaching customers in four categories: small to medium-sized businesses, professionals, not-for-profit organizations and money management. “We haven’t changed that strategy in 25 years,” said Mickey Maurer, the bank’s board chairman.
Old National’s Bob Jones to lead banking council
The chairman and CEO of Evansville-based Old National Bancorp, has been named chairman of the American Bankers Association’s American Bankers Council for the 2018-2019 membership year.
Lake City coming downtown; other banks also add branches
Lake City, part of Warsaw-based Lakeland Financial Corp., will open an office this fall at 101 W. Ohio St.
Carmel-based Merchants Bancorp plans $21.9M bank acquisition
The acquisition will add three banking offices to Merchants’ subsidiary, Joy State Bank.
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.
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.
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.
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.
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.
Merchants Bancorp shares rise in trading debut after IPO
The Carmel-based bank raised $100 million, which it plans to use for a new acquisition and to further fuel growth.
$1B bank merger notable for absence of egos
An army of MainSource Financial Group executives will have key roles at First Financial Bancorp after First Financial completes its purchase of the Greensburg-based bank early next year.
Muncie bank buying smaller competitor for $66M
Muncie-based MutualFirst Financial’s purchase will give it additional locations in the Indianapolis market, where it currently has only one office.