The two banks have overlapping footprints. As a result, First Financial said that after the merger is complete it expects to close 45 to 50 offices.
An Indianapolis judge has ruled in favor of three former Irwin Union Bank & Trust Co. executives, closing the book on a civil suit that the bank’s bankruptcy trustee originally filed in 2011.
Irwin Union Bank was one of a few Indiana bank casualties of the Great Recession. The Federal Deposit Insurance Corp., which sued three former officers in 2013, has reached a settlement with those defendants.
The FDIC has settled a lawsuit against four former executives of the bank. Meanwhile, in a separate suit a bankruptcy trustee continues to press his claims against three other executives.
The FDIC says offering circulars Irwin Union relied on when it bought residential mortgage securities contained false and misleading information.
A judge dismissed a lawsuit filed by Irwin Financial Corp.'s bankruptcy trustee, saying the only party with the right to bring suit was the bank’s receiver, the Federal Deposit Insurance Corp. It didn't do so by last month's deadline.
The bank that took over operations of failed Irwin Union Bank of Columbus two years ago recently announced the purchase of all 22 Flagstar Bank branches in Indiana.
First Financial said the $23 million purchase gives it a rare opportunity to expand its presence in the Indianapolis metro area at a time there are few acquisition targets available.
The Indiana Court of Appeals has sided with former Columbus, Ind., banker Will Miller in an estate battle launched by his older brother, Hugh. In an opinion issued Thursday, the court said Will Miller was correct to spend more than $20 million over 3-1/2 years on the upkeep of properties owned by the wealthy Columbus family.
J. Irwin Miller’s two sons have been battling for years over who should have paid expenses on the wealthy Columbus family’s
homes and businesses, but their fight isn’t about the money—especially after they inherited at least $20 million
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest
banks and hurting the smallest.
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.