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08.10.2011 - Centier Announces Mid-Year Earnings

Centier Bank reported its second quarter financial results with strong asset and deposit growth in the first half of 2011. Deposits have increased $100 million or 5.8%, and reached $1.83 billion for the period ending June 30, 2011. Total assets reached $2.09 billion, an increase of $85 million or 4.2%. Equity capital reached $174 million, an increase of $12 million or 7% in the first six months of 2011, and the Bank remains well capitalized by all regulatory standards.

Centier earnings for the first half were $5.5 million, which equals a return on average assets of 0.54%. Loan delinquencies have started to show significant improvement, and reduced loan losses are expected to result in an even better earnings performance in the second half of 2011.

As leading local financial experts, Centier Bank has established a community reputation for helping generations of families make their dreams come true. Recently, Centier concluded its Lasso Yer Loot Giveaway, a 12-week promotional campaign for Centier’s Round Up Savings account. During the campaign, Centier awarded $100 weekly prizes and a grand prize of $1,000. Since the Round Up Savings product was launched last May, participating clients have saved more than $1 million dollars. These results are proof that using this easy and convenient savings solution helps many clients reach their current and long-term savings goals.

“A savings plan requires some discipline and we are here to help our clients cushion their savings,” stated Centier Bank President and CEO, Mike Schrage. “To know that our clients have been so successful that they’ve already saved $1 million dollars in change, in just one year…well that’s proof that what we have here is a savings solution.”

Centier has certainly been busy during the first half of the year. In addition to opening a new full service branch in downtown Hammond this past May, Centier recently opened a new loan production office in Carmel, Indiana. The Bank is also planning a major remodel of its Crown Point Downtown branch in 2012.

As the bank has grown over the past 116 years, Centier has become renowned as the Best Place to Bank in North/Northwest Indiana. And, in 2011, for the fifth year in a row, the Indiana Chamber of Commerce has once again honored Centier among the top ten employers in the entire state of Indiana, ranking the bank as #3 “Best Place to Work.”

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