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Category: Banking
Horizon acquires bank in Franklin, Ind.
MICHIGAN CITY – Horizon Bancorp, the parent company for Horizon Bank in Michigan City, has acquired Heartland Bancshares Inc. in Franklin. It operates Heartland Community Bank.
The agreement calls for Horizon to issue 0.54 shares of common stock for each share of Heartland common stock. Horizon’s price per share is $18 and Heartlands was $9.72.
“Heartland, which has the No. 1 deposit share in …
Read Full ArticlePeoples Bank posts 4 percent profit for 2011
MUNSTER – NorthWest Indiana Bancorp, the parent company for Peoples Bank, has announced a 4 percent increase in earnings for 2011.
Yearly profit was $5.4 million, said David Bochnowski, chairman and CEO.
In the fourth quarter, Peoples posted net income of $1.4 million, up 24 percent on 2010. The bank announced assets of $651.7 million for its 12 offices in Lake and Porter counties.…
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Posted in Banking, Business News Bits, Earnings Report, Regional News
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Centier Bank posts profit in 2011
MERRILLVILLE – Centier Bank has announced its 2011 earnings were up 64 percent from 2010.
The bank posted a net profit of $16.7 million in 2011, up from $10.2 million in 2010. In the fourth quarter, Centier posted a profit of $6.2 million.
Centier’s assets in 2011 were $2.1 billion, up 6.1 percent from last year.
The bank operates 45 locations across northern Indiana, including …
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Posted in Banking, Business News Bits, Earnings, Regional News
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1st Source profit for 2011 is up 17 percent
SOUTH BEND – 1st Source Corp. has announced record earnings of $48.2 million in 2011.
The bank said the financial results are 17 percent above last year, which earnings were $41.2 million.
Earnings per share rose from $1.21 in 2010 to $1.96 last year.
1st Source operates 75 banking centers in 17 counties, 23 finance locations, eight wealth management centers and eight insurance …
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Posted in Banking, Business News Bits, Earnings, Regional News
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Horizon Bank fourth quarter earnings up
MICHIGAN CITY – Horizon Bancorp has announced fourth quarter income was up 23 percent compared to one year ago to $3.5 million.
For the year, Horizon posted earnings of $12.8 million.
“Achieving record assets and net income and concurrently growing loans and deposits and reducing Horizon’s loan loss provision in a recessionary economy was a gratifying accomplishment,” said President and CEO Craig Dwight.
Assets for …
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Posted in Banking, Business News Bits, Earnings Report, Regional News
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Citizens Bank named a Top Workplace
MUNSTER – Citizens Financial Bank has been named a Top Workplace for 2011 by the Chicago Tribune for the second consecutive year.
Citizens was selected following an evaluation and survey by the bank’s 300 employees that looked at direction, conditions, career, execution, managers, pay and benefits.
“We are once again proud and honored to have been named a Top Workplace by the Tribune and our …
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Posted in Banking, Business News Bits, Media, Recognition, Regional News
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Banking on Change: New regulations bring higher costs, bankers claim
by Rick A. Richards
Northwest Indiana bankers say their business is different–a lot different–than a year ago.
Banking has seen a lot of change, nearly all of it driven by legislative reform as a result of the mortgage meltdown that threw the nation’s economy into a tailspin. Not one region bank was involved in sub-prime lending, but all are affected by new laws that have …
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Posted in Banking, Business, Finance
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Bankers Association names board members
MICHIGAN CITY – The Indiana Bankers Association has named 20 members to its board of directors during its annual meeting recently at the Blue Chip Casino Convention Center.
Chairman if Patrick J .Glotzbach of the New Washington State Bank in Charlestown; first vice president is James C. Marcuccilli of STAR Financial Bank in Fort Wayne; second vice chairman is David W. Heeter of Mutual …
Read Full ArticleBuilding Financial Literacy: Centier’s educational efforts target children and adults
by Kathy McKimmie
Wide-ranging education and training programs have been put in place by Merrillville based Centier Bank to help both children and adults learn how to manage money and credit and to help those who have been disenfranchised from the banking system make their way in.
The bank’s formal initiative started seven years ago when president and CEO Mike Schrage recognized the need in …
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Posted in Banking, Business, Fall 2011, Finance
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Sale of Griffith Savings Bank completed
ST. JOSEPH, Mich. – United Federal Credit Union of St. Joseph has completed its acquisition of Griffith Savings Bank. The acquisition was announced last fall, but the deal wasn’t completed until the FDIC signed off on the deal.
According to the FDIC, the purchase by United Federal is the first time a federally chartered credit union has purchased a state-chartered mutual savings bank.
United Federal, …
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Posted in Banking, Business News Bits, Credit Unions, Expansion
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