South Bend-based 1st Source Corp. is reporting third quarter net income of $13 million, up from $11.5 million during the same period last year. Chairman Christopher Murphy III says growth in loans and deposits offset "margin pressure" because of lower interest rates.
Exclusive: Calvin Klein Talks Brand Building
Fashion Designer Calvin Klein believes entrepreneurs should remember the power of brand building as they create their businesses. Klein spoke to sellout crowds this week in Indianapolis and Evansville about how he created a fashion empire from an initial $10,000 investment. He says provocative print and television ads featuring a teenaged Brooke Shields helped raise the company's global profile, while creating headline-grabbing controversy and fueling international sales. Klein sat down with Gerry Dick for an interview that will air this weekend on Inside INdiana Business Television.
Rose-Hulman to Hold Startup Seminar
A Rose-Hulman Institute of Technology entrepreneur group expects to draw statewide interest for a startup seminar. Saturday's event will focus on topics including life sciences, commercial development and idea pitching.
Owner Declines Billie Creek Bids
Historic Billie Creek Village will remain on the market after all bids from a recent auction were turned down. Owner Charlie Cooper tells The Tribune-Star in Terre Haute, despite receiving bids for individual sections of the Parke County property, he doesn't want to split apart the grounds.
Indy Mayor Vetoes Parts of Budget Plan
Indianapolis Mayor Greg Ballard is using a line-item veto to address an estimated $35 million deficit in the 2013 budget passed by the city-county council. His decision includes a veto of the allocation of nearly $32 million in County Option Income Tax revenue to the county general fund.
Dow Agro Hosting 7,000th FFA Member
Indianapolis-based Dow AgroSciences LLC is hosting its 7,000th FFA member today. The company has hosted member visits for the last seven years as part of the National FFA Convention.
College Completion Council Discusses Strategic Plan
A group of college leaders throughout the state is working on what Higher Education Commissioner Teresa Lubbers describes as "clear targets" to improve graduation rates. The Indiana College Completion Council met earlier this week to discuss a strategic plan, which targets areas including remediation success, on-time completion and student debt.
Defense Conference Set to Discuss Unmanned Tech
A regional conference set for next week in Scottsburg will focus on unmanned defense technology. The Mid-America Defense Conference will feature presentations on the use of robotic applications in law enforcement, disaster response and agriculture.
IU Selects Global Security Center Director
Sumit Ganguly has been named director of the Center on American and Global Security at Indiana University Bloomington. The political science professor will lead efforts to make the center a funding hub and help IU's new School of Global and International Studies develop language and training programs for the U.S. military.
Superintendent Candidates Set to Debate
A series of debates between the two candidates for Superintendent of Public Instruction is set to continue this evening. The incumbent, Republican Tony Bennett, will square-off in Fort Wayne with Democrat Glenda Ritz.
IU Med School Expanding in Lafayette
Indiana University has announced plans to grow its school of medicine in West Lafayette. The school says the program is expanding from two to four years and will increase student enrollment.
First Merchants Swings to Profit
Muncie-based First Merchants Corp. is reporting third quarter net income of $10.1 million, compared to a loss of $6.4 million during the same quarter in 2011. Chief Executive Officer Michael Rechin says income should continue to be supported by the acquisition of SCB Bank assets in February.
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