Six banks that owe Treasury walk TARP tightrope
Six of the 17 Indiana banks that relied on the federal government to shore up their balance sheets in the recession have yet to repay, and the U.S. Treasury isn’t going to wait forever.
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Hofmeister files bankruptcy reorganization plan
Hofmeister Personal Jewelers Inc. plans to pay off its creditors over seven years as part of the well-known Indianapolis retailer’s bankruptcy restructuring.
IU to roll out student financial literacy program
Indiana University says its plans to offer a financial literacy program to give students the tools to complete college without excessive debt.
Durham prosecutors wrap case with details on asset transfer
In the weeks before an FBI raid shut down Fair Finance Co., top company executives led by Indianapolis financier Tim Durham devised a last-ditch maneuver they hoped would persuade Ohio regulators to allow them to keep selling investment certificates.
Simon Property’s revolving loan signals overseas deals
Simon Property Group Inc., the world’s largest real estate investment trust, has increased its firepower for potential global expansion with a $2 billion revolving line of credit in six currencies.
Johnson County flood victims still reeling 4 years later
The devastating 2008 flood continues to have repercussions for victims. They are still paying off the tens of thousands of dollars they had to borrow in some cases to hang new drywall, lay down new carpeting and replace major appliances.
Lawsuit takes on debt-modification firm
A lawsuit filed in Georgia against an Indianapolis firm that helps consumers settle debt is just one in a parade of complaints targeting the industry.
Not-for-profit hoping to grow microloan program
Small amounts of funding often ignored by larger banks.
Feds say wiretaps show evidence of financial plot
A federal judge in Indianapolis refused to throw out wiretap evidence in the $200 million fraud trial of former Indiana businessman Tim Durham as the government outlined a case largely based on those recordings.
After years of ‘pushing water uphill,’ Emmis now nimble
The Indianapolis media company is on track to have less than $75 million in debt by this summer—down from $1.6 billion before it launched the divestiture of its TV stations seven years ago.
Local real estate developer files for bankruptcy
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
Hundreds losing jobs at local Aurora Bank office
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
Bank of Indiana on long journey back from brink
A fast-growing Indianapolis bank that became one of the biggest U.S. Small Business Administration lenders in the state has returned to profitability after a harrowing stretch of massive losses from borrower defaults that nearly led to its failure.
Hofmeister seeks financing to emerge from bankruptcy
Despite objections from unsecured creditors, a federal bankruptcy judge granted the jeweler's request to hire an outside consultant to help it seek alternative financing to repay the balance of a PNC Bank loan.
‘Repo Games’ TV show to feature Indiana contestants
Anderson will be heavily featured in a game show that gives residents who are facing a repossession a chance to have their vehicle paid off on the spot by answering questions correctly.
Indiana Live parent seeks Chapter 11 loan extension
Indianapolis Downs LLC, parent company of Indiana Live horserace track and casino in Shelbyville, wants lenders to grant a one-year extension of financing for the Chapter 11 reorganization that otherwise would expire in April.
Local mortgage firm lands $25M in private equity
Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.
State economy finally gaining traction
Leading indicators for Indiana’s economy are looking up: Banks are increasing lending, real estate developers are pulling the trigger on long-shelved projects, manufacturers are expanding, and consumers are even buying big-ticket items, including automobiles.
Nuts-and-bolts distributor’s sale leaves suppliers empty-handed
The purchaser, The Whitesell Group of Companies, bought the assets but not the liabilities, including $5 million owed to various unsecured creditors.
First Merchants shuns management from failed SCB Bank
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank’s CEO into the new ownership.