INSIDE INDIANA BUSINESS: First Merchants profit ticks up

2013-07-25T12:13:00Z 2013-07-25T16:56:23Z INSIDE INDIANA BUSINESS: First Merchants profit ticks upGerry Dick Inside Indiana Business nwitimes.com
July 25, 2013 12:13 pm  • 

Muncie-based First Merchants Corp. is reporting net income of $10 million for the second quarter, compared to $8.1 million during the same period in 2012. Chief Executive Officer Michael Rechin says steady loan volume growth and improving credit statistics boosted the bottom line.

 

Indianapolis Airport Lands More Nonstop Flights

The air service director of the state's largest airport is hopeful two new international flights will bring further growth because "success breeds success." Chris Matney hopes passengers will support the new routes as the airport continues to seek more leisure and business destinations, especially on the West Coast. Delta Air Lines Inc. is slated to begin weekly service from Indianapolis to Montego Bay, Jamaica and Nassau, Bahamas in December. Matney tells Inside INdiana Business the emphasis is on airports and cities, not airlines, to "build a case" for more flights.

 

Hovercraft Maker Strikes Deal With Ohio Golf Course

Terre Haute-based Neoteric Hovercraft says a golf course near Columbus, Ohio will be the first in the country to own the company's hovercraft golf carts. Windy Knoll Golf Club has purchased two of the carts, which hit the global spotlight thanks to a viral video of golfer Bubba Watson using one of the vehicles. Neoteric President Chris Fitzgerald discussed the technology on Inside INdiana Business Television.

 

Grant Leads to New Jeffboat Jobs

The U.S. Department of Transportation has awarded Jeffersonville-based Jeffboat an $845,000 grant to modernize its vessel line. The department says the funding, part of more than $9 million for shipyards in 10 states, will allow Jeffboat to create 100 jobs.

 

Accelerator Launching First Three Companies

A new accelerator in Indianapolis has announced its first class of startups. VentureCamp says the high-tech companies, which are demonstrating their concepts today, have developed services including a platform to connect tourists to natives and diet-specific recipe database applications.

 

ISU Sets Unveiling For 'Larry Legend' Statue

Indiana State University has announced plans to dedicate a statue honoring one of the school's most famous figures. A ceremony is slated for November to unveil a Larry Bird statue that will stand outside the Hulman Center on the Terre Haute campus.

 

Engineering Company Plots Growth in Evansville

A startup in downtown Evansville, founded by former Whirlpool Corp. employees, is eyeing additional growth. Envolve Engineering LLC plans to add about one dozen workers by the end of next year.

 

Carson's Hiring in Fort Wayne

Carson's department store is hosting a series of job fairs that begin today in Fort Wayne. The company is looking to hire 200 for the new Glenbrook Square location, which is expected to open in September.

 

Notre Dame Announces Biomedical Imaging Partnership

The University of Notre Dame has formed a partnership with a global scientific instrumentation company. The collaboration gives students and faculty access to Massachusetts-based Bruker Corp. biomedical imaging technology.

 

Vectren, WGU Form Partnership

Evansville-based Vectren Corp. has entered into a partnership with the state's online university. The deal with WGU Indiana includes a tuition discount for employees.

 

Indiana Pork Names Leader

Indiana Pork has promoted Josh Trenary to executive director. He most recently served as the nonprofit's director of business development. Trenary succeeds Mike Platt.

 

ITT Reports Mixed Profit, Enrollment Results

Carmel-based ITT Education Services is reporting second quarter net income of $20.9 million, down from $46 million for the same period the previous year. The for-profit education provider says new student enrollment increased 7.5 percent during the quarter, while total enrollment dropped 11.7 percent.

 

For more Inside Indiana Business, visit www.insideindianabusiness.com.

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