Business Services Industry
30 lose positions at banking firm First Indiana Corp.
Knight Ridder/Tribune Business News, September, 2004
By Ted Evanoff, The Indianapolis Star Knight Ridder/Tribune Business News
Sep. 18--First Indiana Corp. dismissed 30 employees in the Indianapolis area on Friday as part of a broader efficiency plan to cut 10.7 percent of its jobs and save $4 million a year.
An era of low interest rates and a slower economy squeezed the bank's income and set in motion a plan to cut expenses, said William Brunner, chief financial officer at the Indianapolis-based bank.
"I wouldn't say it's the economy slowing down. It's that the economy has been slow for us," Brunner said.
First Indiana, the fifth-largest bank in the metropolitan area with customer deposits totaling $1.56 billion, employed 650.
Brunner said a total of 70 positions in...
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