INSIDE INDIANA BUSINESS: 1st Source profit grows

2013-07-26T13:26:00Z 2013-07-26T17:45:07Z INSIDE INDIANA BUSINESS: 1st Source profit growsGerry Dick Inside Indiana Business nwitimes.com
July 26, 2013 1:26 pm  • 

South Bend-based 1st Source Corp. is reporting second-quarter profit of $13.9 million, compared to $12.6 million for the same period last year. Chief Executive Officer Chris Murphy says "solid growth" in loans and leases boosted performance.

 

Anderson Mayor: Colts Impact Growing

The mayor of Anderson expects Indianapolis Colts training camp, which begins this weekend at Anderson University, to pump more money into the local economy than last year. Kevin Smith says 30,000 visitors had an economic impact of around $600,000 on the community in 2012. He tells Inside INdiana Business the arrangement among the city, the team and Anderson University continues to be year-to-year to "facilitate what's in the best interest for the Colts and their fans." Read More He sees training camp as a marketing opportunity for Anderson.

 

Manufacturer Seeking to Expand in Hamilton County

Noblesville-based SMC Corp. of America is requesting tax breaks on a multi-million dollar expansion proposal. In a filing with the city council, the manufacturer says recent growth is leading to the need for new production and distribution operations, which could be complete in 2015.

 

Terre Haute Company Shooting Third Movie

A Terre Haute-based production company is moving forward with its third film. The Tribune Star reports Dreams Come True Films LLC has 120 actors and actresses from 17 states taking part in the shooting of "Vanished" in the Vigo County city.

 

Pence Salutes Artists

A handful of Hoosier artists has been selected as winners of this year's Governor's Arts Awards. Recipients include a teacher, a singer/songwriter and a mayor.

 

Fighting Irish to Start Training Camp in Marion

The University of Notre Dame football team will open training camp next month in Marion. The Fighting Irish plan to hold four practices at the Shiloh Park Retreat and Conference Center.

 

Dow Agro Touts Record Sales

Indianapolis-based Dow AgroSciences LLC is reporting a lower profit, but record sales for the second quarter, compared to the same period a year earlier. The unit of the Dow Chemical Co. (NYSE: DOW) says the sales figures have received a boost from crop protection products.

 

Private Jet Company Picks President

Elkhart-based Travel Management Company LTD has named Scott Wise president. He previously served as general manager of the private jet service.

 

Search Committee Seeks Next IU Southeast Chancellor

A search committee has been formed to select finalists for chancellor of Indiana University Southeast. A national search is being conducted to replace Sandra Patterson-Randles, who retired last month.

 

Zimmer Profit Drops

Warsaw-based Zimmer Holdings Inc. is reporting net income of $152.1 million for the second quarter, down from $214.5 million during the same period the previous year. The company says the earnings reflect $47 million set aside for claims related to a hip implant product.

 

Lakeland Financial Posts Higher Profit

The parent company of Warsaw-based Lake City Bank is reporting net income of $9.2 million for the second quarter of 2013, compared to $8.8 million during the same quarter last year. Lakeland Financial Corp. says its $18.5 million profit so far this year is a record performance over a six-month period.

 

IUPUI Program Strikes Deal With Adobe

The Purdue School of Engineering and Technology at IUPUI has signed a technology agreement with Adobe Systems Inc. (Nasdaq: ADBE). The partnership includes free software licenses for students and teachers in the technical communication degree program.

 

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

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