News Releases

Q&A With Chicago Fed President at Economic Forum

Charles Evans, president and CEO of the Federal Reserve Bank of Chicago, will be featured in an economic conversation during a Midwest Economic Forecast Forum scheduled for Jan. 7. Additionally, Craig Dismuke, chief economist of Vining Sparks, will be presenting at the forum.

Members of the media are invited to participate. An online media scrum with President Evans will be held following his remarks.

Zahn Elected 2021 Chairman of Indiana Bankers Association

Michael S. Zahn, president and CEO of First Federal Savings Bank, Huntington, has been elected 2021 chairman of the Board of Directors of the Indiana Bankers Association. The election took place Nov. 18 during the virtual IBA Mega Reimagined Conference and Annual Convention. Zahn currently serves the IBA as first vice chairman and will become chairman effective Jan. 1, 2021.

Two Banks Win Statewide Community Service Awards

Alliance Bank, Francesville, and First Savings Bank, Jeffersonville, have been honored with the Indiana Bankers Association C2C (Commitment to Community) Awards in their respective asset sizes for outstanding community service performed during 2019. Alliance Bank won in the category of banks with assets below $500 million, and First Savings Bank won in the category of banks with assets of $500 million and above.

White Honored as Sagamore of the Wabash

Lucas White, chairman of the Indiana Bankers Association, has been honored as a Sagamore of the Wabash by Gov. Eric J. Holcomb. The award was announced on Nov. 16 by Thomas C. Fite, director of the Indiana Department of Financial Institutions, during the virtual IBA Mega Reimagined Conference. It was presented to White by Michael S. Zahn, incoming 2021 IBA chairman, and president and CEO of First Federal Savings Bank, Huntington.

Gregerson Named IBA Woman of the Year

Karen Gregerson, president and CEO of The Farmers Bank, Frankfort, has been honored with the 2020 Indiana Bankers Association Woman of the Year award, sponsored by Krieg DeVault LLP, Indianapolis. She was presented with the award on Oct. 23 during the virtual IBA Banking on Women Conference. This annual award recognizes a woman in banking who is community-active, achievement-oriented, and who contributes to team success.

In Indiana, 70,000+ PPP Loans to Small Businesses Total Nearly $10 Billion

Per data released by the Small Business Administration, 71,614 Paycheck Protection Program loans have been approved through May 8 for small businesses in Indiana, with funds still remaining. This figure combines Indiana loans approved to date in Round Two of funding, which began April 27, with Round One loans approved April 3-16. In gross dollars, combining both rounds of funding, Indiana banks have assisted in providing $9,664,484,919 in PPP loans to small businesses in the Hoosier state.

Nearly $10 Billion Goes to Indiana Small Businesses in PPP Loans

The Small Business Administration and the Department of the Treasury have released numbers for Paycheck Protection Program loan activity during Round Two, which began April 27. Through May 1 of Round Two funding, Indiana banks assisted in completing 31,757 PPP loans totaling $2,060,003,401 in approved dollars. Combining these figures with Round One activity, Indiana banks helped complete 67,747 PPP loans totaling $9,551,448,752 for small businesses.

Small Businesses Should Contact Banks Now for PPP Funds

The Indiana Bankers Association is urging small businesses that have not already applied for Paycheck Protection Program (PPP) funds to contact their banks now in preparation for a second round of funding. Yesterday the U.S. Senate passed legislation that includes more than $300 billion in additional PPP funds, with the House expected to pass the legislation this week. Upcoming funds are anticipated to run out more quickly than initial funding, which was depleted within two weeks.