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National Bank of Indianapolis upgrades core to support automation

BankInovation

The National Bank of Indianapolis is automating aspects of its wealth management division and mortgage process after a recent core migration that upgraded the $3 billion bank’s core for the first time since the late 1990s.

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Analyst Insights: Two Banks that Deliver to Shareholders

Jeff For Banks

2/25 Past actions/decisions give the best insights into a management team's acumen, capabilities, willpower, and its pursuit of excellence.effort lol. Entered Indianapolis on 5/2021, a top 2 Midwest market with Columbus, another market $CFBK is in. Management did not prioritize how things were or what certain people "might like".

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DOJ settles redlining lawsuit against First Merchants Bank

CFPB Monitor

Even after an acquisition that resulted in the addition of Indianapolis-Marion County to its assessment area, the bank allegedly failed to open or operate a bank branch in any of the county’s majority-Black census tracts. Opening one new full service branch in a majority-Black census tract in Indianapolis-Marion County.

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Retail Furloughs Now Well Over 1M Amid Coronavirus

PYMNTS

The merchant’s eCommerce shops have closed as well, and top management at headquarters will have pay reduced as well. The furloughs are said to impact workers at the company’s headquarters in Indianapolis in addition to outlets and malls throughout the country. TJX Companies Inc., Maxx, HomeSense and HomeGoods stores in the U.S.

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First Merchants to buy Indianapolis trust company

American Banker

The Indiana company agreed to acquire Hoosier Trust, which manages about $300 million in assets.

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Simon Property Group Looks To Raise $300 Million For Shell Company

PYMNTS

According to the release, “The target will likely be in an industry that will benefit from the experience, expertise, and operating skills of the management team” and Simon Property Group, the nation’s largest mall owner. Indianapolis-based Simon said the IPO will offer 30 million “units” at $10.

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Report: Layoffs Coming To Mall Owner Brookfield Properties

PYMNTS

Simon’s furloughs affected employees at its Indianapolis headquarters as well as at its malls and outlets nationwide, a source told CNBC at the time. In addition, upper management salaries are being slashed by as much as 30 percent. An unspecified number of workers were permanently laid off as well.