Category: Finance

The Future is Now

Banking technologies add convenience, but some still prefer bricks and mortar.

by Jerry Davich

Today’s banking customers have more options than ever regarding their finances, but also more checks and balances when it comes to daily decision-making. Should they choose old habits over new technologies? Convenience over complexities? Face-to-face interactions versus online interfacing? Pen and paper accounting versus mobile accessibility? “The future is here today,” …

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Posted in Banking, Business, Fall 2013, Finance | Leave a comment

Heading Back to Market?

Seniors who fled turbulent stock investments a few years ago are slowly returning.

by Jerry Davich

When the stock market began taking a nosedive in late 2008, retirees generally reacted in two ways while looking for a financial parachute to soften their crash. Those seniors who opted to stay in the turbulent market gravitated toward high-quality, dividend-paying stocks. Those seniors who fled looked instead to …

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Charter Group starts furniture market

GRAND RAPIDS, Mich. – Building on more than two decades of experience serving the office furniture and home interiors market, The Charter Group today announced formation of a dedicated Furniture Practice led by Andrew Williams. The Grand Rapids, Mich.-based merger and acquisition advisory firm said the move reflects growing activity and demand for buy, sell and capital raise transactions in the office furniture, residential furniture …

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1st Source Bank marks 150th anniversary

SOUTH BEND – This year 1st Source Bank celebrates 150 years of helping clients achieve security, build wealth and realize their dreams. 1st Source will began its year-long celebration on June 12.

“1st Source is pleased to celebrate 150 years of service to our clients and the community,” said Christopher J. Murphy III, chairman and CEO. “For 150 years, we’ve focused on being distinctively convenient, …

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1st Source names Raclin Award winners

SOUTH BEND – 1st Source Bank has announced the winners of the 15th annual Ernestine M. Raclin Community Leadership Award. Five employees and five community volunteers who embody the spirit, values, energy and leadership of Ernestine M. Raclin, past Chairman of 1st Source Bank and 1st Source Corporation, were selected as 2013 winners of the award.

Jon Hicks, President of In Good Company in Merrillville, …

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1st Source rated a top community bank

SOUTH BEND – 1st Source Bank has been ranked in the top 15th percentile of community banks by Seifried & Brew LLC, a community bank risk management firm. 1st Source was selected from among banks with assets between $100 million and $5 billion.

 

According to Seifried & Brew, 1st Source “demonstrated exemplary performance of balancing risk and reward based on the bank’s S&B …

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First Merchants acquires Citizens Financial

MUNSTER – Citizens Financial Services, which operates Citizens Financial Bank, has been acquired by First Merchants Corp. of Muncie, Ind.

Shareholders of Citizens will receive .65 shares of First Merchants common stock for each share of Citizens stock. The deal is worth $115 million.

The merged operation will have assets of more than $5 billion and will be the second largest Indiana-based financial holding …

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1st Source named to bank honor roll

SOUTH BEND – 1st Source Corp. has been named to the Keefe, Bruyette & Woods, Inc. (KBW) “Bank Honor Roll” of Superior Performers in recognition of the bank’s strong performance over the past ten years. 1st Source is one of 47 U.S. banks to be named to this esteemed list, and one of only 33 banks to make the list for two consecutive years.

“We …

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Beacon Health receives AA- bond rating

SOUTH BEND – Fitch and Standard & Poors have established a rating of AA- / Stable for Beacon Health System, an affiliation between Elkhart General Hospital and Memorial Hospital of South Bend. The rating is a direct reflection of the success of the two organizations affiliating and the solid financial position Beacon enjoys.

In conjunction with Beacon’s new Bond ratings, action has occurred with …

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1st Source announces earnings

SOUTH BEND – 1st Source Corp., parent company of 1st Source Bank, has announced net income of $12.40 million for the first quarter of 2013, up 5.88 percent compared to the $11.72 million reported in the first quarter a year ago.

Christopher J. Murphy III, chairman and CEO said, “1st Source completed another solid quarter. Our loan and lease portfolio grew at 7.19 percent …

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