The Federal Energy Regulatory Commission said the bank used improper bidding strategies to squeeze excessive payments from two power grid operators, including the Midcontinent Independent System Operator, which is based in Carmel.
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
The FDIC says offering circulars Irwin Union relied on when it bought residential mortgage securities contained false and misleading information.
BMO Harris and PNC lost some deposits, but the biggest local banks by market share remained the same.
BMO Harris Bank’s expansion in Indianapolis and other markets via its acquisition of M&I Bank is off to a rocky start as many customers still are unable to access their online banking accounts.
Oscar Robertson’s money troubles in Ohio have been well documented lately. But in his hometown of Indianapolis, he’s trying to convince a judge that he’s not responsible for a $203,000 bank loan.
Over the last three years, Key has invested millions to add 13 central Indiana branches, bringing the total to 46.
PNC Financial Services Group Inc. said Wednesday its second-quarter net income shrank 41 percent, as the bank set aside hundreds of millions of dollars to buy back home mortgages.
JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
Stephen A. Stitle will leave the bank to come aboard the law firm as a partner on May 1. Stitle has spent a combined 17 years at PNC and National City Bank, which PNC purchased in 2008.
The event honors men and women who epitomize success in the business world.
A deal scheduled to close next month will give Cincinnati-based First Financial Bancorp the foothold it has long sought to build a major presence in the Indianapolis market.
PNC Financial Services Group Inc., which has about 1,200 employees and 88 branches in the Indianapolis area, made less money from loans, deposits, fees and charges in the third quarter.
A widespread move among major banks to charge customers a fee for using their debit cards has stirred Democratic lawmakers to seek a Justice Department investigation on possible collusion.
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
Huntington National Bank and PNC Bank claim they are owed roughly $25 million on loans related to Broadbent Co.’s purchase and renovation of a building on East Washington Street downtown.
PNC Financial, which has 88 Indianapolis-area branches, reported a nearly 13-percent increase in second-quarter earnings, as the regional bank set aside far less money to cover bad loans.
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
Improved economy, loosening credit standards are driving increased lending.
