Indiana

Buoyed by stronger credit quality and higher mortgage banking income, Lakeland Financial (LKFN) of Warsaw, Ind., reported record first-quarter income of $8.6 million, up 45% from a year earlier.

The state of Indiana has tapped a former banker to help restore credibility to its beleaguered revenue department.

Regulators have lifted an informal agreement with the banking unit of MainSource Financial Group (MSFG) in Greensburg, Ind.

The Office of the Comptroller of the Currency closed two Midwestern banks Friday, bringing the failure tally so far this year to nine. The Federal Deposit Insurance Corp., as the receiver of the failed national banks, was able to find other institutions to resolve the failures.

John Keach Jr., the chairman and CEO of Indiana Community Bancorp, which agreed to sell to a rival this week, speaks for many bankers in ticking off the threats to going it alone as a community bank — and explains why his bank decided it had to get out now.

Buoyed by a lower loan-loss provision, Lakeland Financial Corp. in Warsaw, Ind., said Wednesday that its fourth-quarter profits rose 43% from a year earlier, to $8.3 million.

First Internet Bancorp is creating a new division to offer traditional commercial and industrial lending to businesses in Indiana.

S.Y. Bancorp Inc. in Louisville, Ky., is looking to expand in the Indianapolis market.

First Farmers Financial Corp. agreed late Wednesday to acquire First Citizens of Paris Inc.

WASHINGTON – The FDIC said today it approved the acquisition of Griffith (Indiana) Savings Bank by United FCU of St. Joseph, Mich., the first bank to be acquired by a credit union.

Under a deal excepted to close in the second quarter, River Valley Bancorp in Madison, Ind., would pay $6.3 million in cash for all the common stock of the $82 million-asset Dupont State Bank.

Aided by solid loan growth, Chemical Financial Corp. in Midland, Mich., and Lakeland Financial Corp. in Warsaw, Ind., reported sharp increases in profits for the quarter that ended Sept. 30.

First Midwest Bancorp Inc. said Thursday it will acquire about $185 million of deposits and a branch in suburban Chicago from Old National Bancorp.

First Merchants Corp. in Muncie, Ind., used a regulatory filing Tuesday to disclose the names of the two private equity firms that participated in a recent private placement of common stock.

First Merchants Corp. in Muncie, Ind., announced Friday that is planning to exit the Troubled Asset Relief Program using a combination of proceeds from a recent stock offering and a low-interest loan from the Treasury Department's Small Business Lending Fund.

Coming off the best quarter in its 101-year history, German American Bancorp in Jasper, Ind., appears to be readying itself for expansion.

Integra Bank in Evansville, Ind., was closed by the Office of the Comptroller of the Currency, after fighting to survive for nearly two years.

United Federal Credit Union in St. Joseph, Mich., has agreed to buy Griffith Savings Bank.

S&T Bancorp Inc. in Indiana, Pa., reported that its second-quarter earnings rose 58.5% from a year earlier, to $14.9 million, due largely to improved asset quality and the resolution of several nonperforming loans.

The former chief executive of Community Link Federal Credit Union in Huntington, Ind., claims he was fired as head of the $20 million-asset credit union because he shared information with examiners for the National Credit Union Administration on potential conflicts of interest on the board and other regulatory violations.