News

02.01.2011 - Centier Records Over $10 Million in Earnings

Centier Bank reported a growth in earnings and an increase in capital in 2010. Centier reported earnings of $10.2 million for the twelve months ended December 31,2010 and a return on average assets (ROA) of 0.51% and a return on average equity (ROE) of 6.71%. Centier continued to bolster its well-capitalized position with total equity capital increasing from $167.1 million to $186.6 million, an 11% increase over 2009. First Bancshares, Inc., holding company for Centier Bank, announced a $10 per share cash dividend, payable February 1, 2011.

Total assets ended the year at $2.0 billion and the total loan portfolio ended the year at $1.62 billion. Consumer loans increased $18 million and business loans increased $23 million to $1.1 billion dollars. Centier’s focus to help grow, support, and maintain strong businesses in North/Northwest Indiana is the reason that Northwest Indiana Business Quarterly magazine readers have recognized Centier Bank as the “Best Bank for Business” for the past eight years in a row.

In 2010, Centier celebrated its 115-year corporate anniversary and expanded its retail franchise with the opening of a full-service branch in Lafayette. In addition, Centier hired a full-time business banker to service the Indianapolis metropolitan area, where the Bank will open an office later this year. Centier is now the largest privately-owned independent bank in Indiana and remains committed to being owned and operated by the Schrage family in the future.

“The last couple of years have been difficult for the U.S. economy and the banking industry,” stated President & CEO, Mike Schrage. “Our focus has been working with families and businesses to get back on their feet so that they can return to life and business as usual.”

Among Centier’s most impressive accomplishments in its history was receiving 2010’s “#1 Best Place to Work in Indiana” award by the State Chamber of Commerce. This was the fourth year in a row that Centier was listed among the top 10 employers in the state and the first time that it topped the list. Centier was recognized for its outstanding corporate culture after receiving an in-depth evaluation and survey of its employees. Results were tabulated with 75% of the final score based on employee surveys and 25% based on employee benefits. The award recognizes Centier’s significance as a leading employer in the state.

“Our strength as an organization can be attributed to our board of directors, associates, and our loyal clients. Together, we shouldered the economic downturn,” stated Schrage.

In 2011, Centier looks forward to opening a new Hammond office, located at the corner of Hohman Avenue and Douglas Street in Downtown Hammond and expansion of its Indianapolis Loan Production office. To accommodate the growing needs of Centier clients, the Bank will introduce mobile banking to clients this spring, which will complement the current suite of convenient electronic banking services available to Centier’s growing network of clients.

Back | Home

User ID:
Password:
	Forgot Your Password?