Analyst Ratings
Ind. Bank Says Won't Meet Capital Requirements
COLUMBUS, Ind. (AP) — A southern Indiana-based bank might be down to its last days as it has told federal regulators it is unlikely to reach required capital levels.
Irwin Financial Corp. has lost more than $450 million in the last six quarters, with much of that loss from home equity and mortgage loans in western markets hit hard by the recession. The bank said in a regulatory filing Wednesday that "there is no realistic prospect of achieving the required capital levels" by a Sept. 30 deadline. Hilliard Lyons analyst Ross Demmerle says he expects Irwin Financial to be taken over by other banks. Irwin Financial is based in Columbus with several branches in central and southern Indiana and other offices in the Midwest and West.TheStreet Premium Services
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