Chesterton Tribune



Centier Bank posts strong year in 2016

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Centier Bank is reporting another profitable year of growth in 2016 with reported earnings over $35.9 million and a return on average assets (ROAA) of 1.09 percent for 2016.

Total loans grew by over $315 million, an increase of 12 percent over 2015, Centier said in a statement released today. Meanwhile, the bank achieved two significant milestones in 2016, when it surpassed $3.5 billion in total assets and $3.0 billion in total deposits.

Other highlights:

* Commercial loans grew by over 8 percent and surpassed the $2 billion mark.

* Mortgage Loans closed at $367 million, a new high for the institution and an increase of $85 million over 2015 “as the Centier brand continues to grow in outlying markets.”

* Centier also added four new locations last year, in Westfield, Zionsville, Whitestown Meijer, and Schererville Strack & Van Til.

“We have experienced phenomenal growth over the past few years, particularly in our Northern and Central Indiana communities,” Centier President Michael Schrage said. “We've been welcomed by families and businesses who are starved for independent community banking and personalized services that are unique to Centier.”

Besides further growth expected in 2017--the bank has begun construction on a new Granger branch and a South Bend Downtown Banking Center--Centier is also developing new banking divisions:

* A new Community Relations and Business Development division will promote the bank's philanthropy, community outreach, financial wellness, and community reinvestment act initiatives to support the bank's culture of engagement.

* A new division and leadership team for Mortgage Warehouse Lending and services will further solidify Centier's commitment to remaining a premier community bank and residential lender in Indiana.

“We welcome every opportunity for residents to make the change to Centier and experience the Centier difference,” Schrage said. “I guarantee that you will always walk away with a network of financial professionals that can help you with every stage of life and will be your financial partner for life. Our commitment to service excellence and our family legacy are the foundation for our ‘Not for Sale’ promise that Centier Bank will remain independently owned and operated for future generations to come.”



Posted 1/27/2017




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