Chesterton Tribune



Centier Bank reports earnings of $38M in 2017

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Centier Bank is reporting earnings of over $38 million and a return on average assets of 1.04 percent for 2017.

Total loans grew by over $420 million, or 14 percent over 2016, Centier said in a statement released last week.

“2017 was a banner year for Centier Bank, with an 11 percent increase in total deposits, a 26 percent rise in mortgage loans, and a 13 percent increase in total assets,” Centier President and CEO Mike Schrage. “Last year, we also implemented a new Warehouse Lending program that has expanded our offerings and made our bank a stronger, more diversely-invested entity.”

The bank also opened new branches in Lafayette, Goshen, Granger, and South Bend Meijer as well as a “much-anticipated branch” in Downtown South Bend as the anchor tenant of the historic JMS Building, 108 N. Main St. “The bank has plans for continued expansion in 2018,” the statement said.

“The opening of these branches further solidifies Centier’s commitment to remaining a premier community bank and commercial real estate and residential lender in Indiana that remains ‘Not for Sale,’” the statement said. “This ‘Not for Sale’ commitment is a personal promise that Centier Bank will remain independently owned and operated for generations to come. Since 2007, Centier Bank has been among the ‘Best Places to Work in Indiana’ by the Indiana Chamber of Commerce and last year received national attention by American Banker, ranking No. 5 among the nation’s Best Banks to Work For between $3 billion and $10 billion in assets.”

In addition, the bank completed the first year of its Community Relations and Business Development division, which focuses on building relationships with the communities in which Centier serves. “The group oversaw sponsorships and donations to 683 organizations throughout the state of Indiana,” the statement said. “The division also tracked a total of 13,351 hours of volunteerism by Centier associates to 798 organizations. Within the division, the Community Reinvestment Act and Centier to You programs delivered additional benefits to Indiana residents through special financing and financial literacy programs, respectively.”

“At the heart of it all, we remain a true community bank,” Schrage said. “For years and generations to come, we want clients to know and experience the Centier difference. Through improvements to our online experience, additional communication through social media channels, and an even stronger presence in community initiatives and events, our associates will look to ‘WOW’ and make an impact in our communities.”



Posted 2/19/2018




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