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First Internet Bank of Indiana (First IB) is the sole subsidiary of First Internet Bancorp, an American bank holding company headquartered in Fishers, Indiana. It was established as one of the first state-chartered banks to operate exclusively online and via telephone, without any physical branches.
Its primary subsidiary was the Indianapolis-based Merchants National Bank and Trust Company, which had been founded in 1865. From the mid-1950s through the late 1980s, Merchants National Bank and Trust, American Fletcher National Bank , and Indiana National Bank , were the three largest banks in Indianapolis.
In November 1985, Indiana National Corporation announced the acquisition of the deposits and the four branch offices of the failed Leo-based Allen County Bank & Trust Company from the Federal Deposit Insurance Corporation for $2 million. [21] After the acquisition, Indiana National Bank had 45 branch offices in Marion County and 4 in Allen County.
To qualify for SNAP in Indiana, your household must meet certain financial and non-financial requirements, such as work registration and cooperation with the IMPACT job training program.
SNAP provides food assistance to low-income households across the U.S. In Indiana, SNAP is distributed to accounts linked to Hoosier Works cards by the Indiana Family and Social Services...
In finance, subordinated debt (also known as subordinated loan, subordinated bond, subordinated debenture or junior debt) is debt which ranks after other debts if a company falls into liquidation or bankruptcy. Such debt is referred to as 'subordinate', because the debt providers (the lenders) have subordinate status in relationship to the ...
Indiana Public Retirement System (INPRS) is a U.S.-based pension fund responsible for the pension assets for public employees in the state of Indiana.INPRS is among the largest 100 pension funds in the United States, with $47.961 billion in actuarial accrued liabilities and $34.479 billion in actuarial assets as of June 30, 2021.
The trust then issues preferred stock to investors. All of the proceeds from the issuance of preferred stock are paid to the company. In exchange, the company issues junior subordinated debt to the trust with essentially the same terms as the trust's preferred stock. All steps except the formation of the trust occur simultaneously.