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05.11.2011 - Centier Reports First Quarter Financial Results

Centier Bank reported its first quarter financial results, ending March 31, 2011. Total Assets ended the first quarter at $2.057 billion, a growth of 2.5% for the quarter. Earnings for the first quarter were $2.8 million, which was a 0.56% Return on Average Assets and an improvement over the $1.6 million earned in the first quarter of the prior year. Total capital increased to $196 million and the Bank remains well capitalized by the regulatory standards.

In addition to its strong financial performance, Centier was named among the top “Best Places to Work in Indiana” by the Indiana Chamber of Commerce for the fifth consecutive year and was named “Best Bank for Business” by the Northwest Indiana Business Quarterly magazine for the ninth straight year. Centier was also voted “Neighbor’s Choice Best Bank” in Lake and Porter Counties by the Post-Tribune and The Times’ Best of the Region award for Best Bank, Best Customer Service, and Best Place to Work.

“We are finding that our friendly, knowledgeable associates are attracting clientele who are searching for local professionals they can trust to create and protect their assets,” stated Michael E. Schrage, President and CEO of Centier Bank. “Since we introduced our Round Up Savings product last March, participating clients have saved nearly $1 million dollars in savings. We are helping people change their saving habits and that’s a huge turnaround for many families.”

In April, Centier celebrated its 116^th anniversary as an independently owned and operated community bank and looks forward to continued growth in 2011. The Bank recently opened its 45^th banking location in downtown Hammond (corner of Douglas and Hohman Avenue). Expansion of Centier’s business banking services continues, with a Loan Production Office opening this month in Carmel, Indiana.

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