Cincinnati-based First Financial buying MainSource for $1B
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.
Irwin Financial
Articles
Judge’s ruling ends civil suit against former Irwin Union bank officers
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.
Feds reach $15M deal in suit over failed Indiana bank
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.
Years after Irwin Union’s failure, a lawsuit yields settlement
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.
FDIC sues executives over Irwin failure
The Federal Deposit Insurance Corp. has filed suit against four former officers of defunct Irwin Financial Corp. banks, alleging they “closed their eyes to known risks” in approving loans that contributed to the banks’ 2009 takeover by regulators.
FDIC suits charge JPMorgan worsened Irwin Union’s woes
The FDIC says offering circulars Irwin Union relied on when it bought residential mortgage securities contained false and misleading information.
Judge tosses out lawsuit blasting Irwin executives
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.
Bank directors feeling greater scrutiny
Tough economy, regulations dampen interest in the positions.
First Financial singled out as growing company in troubled industry
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 buying Flagstar’s 22 Indiana branches
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.
Cost cutting planned by Integra Bank’s new owner
Old National Bank President Bob Jones said an undetermined number of jobs will be eliminated, with the bulk of them being branch managers and other management positions.
Integra Bank’s auditor says situation may be dire
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
Irwin Financial trustee poised to sue insiders
Court papers reveal officers and directors of the holding company for the failed Columbus-based bank will soon be defendants in a $40 million suit.
Court of Appeals upholds Miller estate decision
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.
Feds take over $20M Irwin pension shortfall
The Pension Benefit Guaranty Corp. estimates Irwin Financial Corp.’s pension plan is 56 percent funded, with assets of $26.7 million
to cover $47.2 million in benefit liabilities.
First Merchants, First Financial mull expansion
Acquisitions situate banks to seek market share in Indianapolis.
Miller brothers who shared in fortune fighting over $3 million
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
apiece.
New collateral rules for Indiana deposits may favor big banks
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest
banks and hurting the smallest.
Report: Examiners failed to curb risky lending at Irwin Union
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.