First Indiana Corporation Closes the Sale of Its Trust Division to Marshall & Ilsley Trust Company
05 January 2006 - 9:15AM
PR Newswire (US)
INDIANAPOLIS, Jan. 4 /PRNewswire-FirstCall/ -- First Indiana
Corporation has completed the previously announced agreement to
sell its trust business to Marshall & Ilsley Trust Company
N.A., a subsidiary of Marshall & Ilsley Corporation (NYSE:MI).
The sale closed January 3, 2006, and is anticipated to result in an
after-tax gain of approximately $8.6 million, which will be
included in the first quarter of 2006 earnings. First Indiana
Corporation (NASDAQ:FINB) is a financial services company offering
comprehensive financial solutions to businesses and individuals. It
is the holding company for First Indiana Bank, N.A., the largest
commercial bank headquartered in Indianapolis. Founded in 1915,
First Indiana Bank is a national bank with 30 offices in central
Indiana. Information about First Indiana is available at (317)
269-1200, or at http://www.firstindiana.com/ , which is not a part
of this news release. The amount of after-tax gain to be recognized
from the sale is a forward- looking statement and is subject to a
number of risks and uncertainties, including without limitation,
the final accounting for expenses and tax treatment of the
transaction, which may cause actual results to differ materially
from those expressed or implied in such statement. Forward-looking
statements provide current expectations or forecasts of future
events and are not guarantees of future performance, nor should
they be relied upon as representing management's views as of any
subsequent date. Additional information concerning factors that
could cause actual results to differ materially from those
expressed or implied in the forward-looking statement is available
in the Corporation's Annual Report on Form 10-K for the year ended
December 31, 2004, and subsequent filings with the United Stated
Securities and Exchange Commission (SEC). Copies of these filings
are available at no cost on the SEC's Web site at
http://www.sec.gov/ or on the Corporation's web site at
http://www.firstindiana.com/ . Management may elect to update
forward- looking statements at some future point; however, it
specifically disclaims any obligation to do so. DATASOURCE: First
Indiana Corporation CONTACT: William J. Brunner, CFO - Shareholders
& Analysts, +1-317-269-1614, or Beth Copeland - Media,
+1-317-269-1395, both of First Indiana Corporation Web site:
http://www.firstindiana.com/
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