Contorting bank regulators
A long-time bank observer says regulators are twisting into pretzels to avoid taking over Indiana institutions.
Irwin Financial
Articles
Banks gobble TARP money, suffer losses
The housing meltdown and recession gave banks in Indiana and across the nation their biggest test in decades.
First Financial gets sweet deal on Irwin Financial’s bank assets
It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
FDIC fee hitting small banks particularly hard
Fees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is
expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are
particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June
30.
Irwin Financial files for bankruptcy liquidation
Columbus-based Irwin Financial Corp. has filed for Chapter 7 bankruptcy, setting the stage for the liquidation of the remaining
assets of the troubled banking company.
Unfinished federal bailout sealed Irwin’s failure
Up to the end, Columbus-based Irwin Financial Corp. anticipated a government bailout that never materialized.
Regulators close Irwin banking operations
State and federal regulators shut down the two banking subsidiaries of ailing Irwin Financial Corp. of
Columbus. The action makes Irwin Union Bank and Irwin Union Bank FSB the first financial institution failures in Indiana since
steep losses hit the industry last year.
Australian owner abandons efforts to sell Chase Tower
Macquarie Office Trust of Sydney has quietly pulled the 48-story Chase Tower off the market, along with a property in Boston and a property in Denver that failed to draw juicy enough offers.
Will Miller’s burden at Irwin Financial
Will Miller, the fifth generation to run Irwin Financial Corp., is in danger of being the scion at the helm as the family
business hits the wall.
Irwin Financial admits outlook dire
Shares of Irwin Financial Corp. plummeted this morning after the banking company disclosed that regulators have ordered it
to bolster its capital by the end of the month to levels “it has no realistic prospect of achieving.”
Irwin Financial narrows losses, continues restructuring
Irwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible
suspension of its business.
Regulators hike Irwin Union’s capital requirements
Regulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible
suspension of its business.