Overseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values
Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
Bangladesh-based Grameen Bank, the Nobel Peace Prize-winning financial institution that developed the concept of life-changing
micro loans for the poor, is contemplating opening its third U.S. branch in Indianapolis.
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
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.
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City
Bank of America Corp. is arranging a five-year loan that will be sold at a discount of 98 cents to 98.5 cents on the dollar,
according to a source who declined to be identified because the discussions are private.
Dealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.
The Columbia Club, the tradition-rich enclave where the city’s business elite have gathered and cut deals for more than a
century, is facing declining membership, the departure of its longtime general manager, and looming financial challenges–including
a $5.5 million loan that comes due this summer.
Indianapolis entrepreneur Tim Durham has run into trouble with one of his lenders. Evansville-based Old National Bank says
in a Dec. 1 lawsuit that Durham’s Indianapolis-based holding company,Obsidian Enterprises Inc., is in default on $2.6 million
in loans that came due Nov. 1.