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Indiana bank joins list of those shedding branches

American Banker

Merchants Bancorp says it will sell a total of four branches to two buyers and focus more on its core residential mortgage lending business. Banks of all sizes have been pruning branch networks in recent years.

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Old National on track to close CapStar deal, expand in Nashville

American Banker

The Indiana bank is "on offense by continuing to invest in new client-facing and key support talent and being ready and opportunistic for acquisitions," CEO Jim Ryan says.

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“Dormant Commerce Clause” case law continues to evolve

CFPB Monitor

In that case, the Seventh Circuit handed a major victory to Ballard Spahr’s client by holding that Indiana was precluded from applying its usury law to auto title loans made in person in Illinois to Indiana residents. This restriction on state power is commonly referred to as the “dormant Commerce Clause.”.

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Horizon in Indiana takes $33M hit in balance sheet restructuring

American Banker

The Michigan City company, part of a growing list of banks announcing similar overhauls, aims to sell nearly $400 million of securities and reinvest the proceeds in higher-yielding loans.

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Growing a mortgage portfolio: Encourage borrowers to bank local

Abrigo

In the spirit of the go local movement, new data from Sageworks Bank Information peeked in on 10 cities to see which community banks were making an impact on local mortgage lending. • Indianapolis, Indiana – First Internet Bank of Indiana ($249 million). • Detroit, Michigan – Flagstar Bank ($4.65

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Fifth Third Taps Accion To Reach More SME Borrowers

PYMNTS

Fifth Third Bank is focusing its SME lending reach through a new partnership with nonprofit lender Accion. Reports late last week said the bank will work with SME lending portal Accion, a nonprofit company, to facilitate the financing of these companies across five states: Florida, Indiana, Illinois, Michigan and Ohio.

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UK-Based Car Subscription Platform Drover Notches $25.7M In Funding

PYMNTS

Drover Founder and CEO Felix Leuschner said per the report, “Drover’s digital ‘cars-as-a-service’ model is the right approach to truly build the ‘Amazon of Cars’ as it lends itself much better to an online model than does the long-term commitment, high ticket size type transaction of buying a car with cash or on finance.”

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