News

11.28.2011 - Centier Reports Third Quarter Financial Results

Centier Bank reported steady growth in the first nine months of 2011, with deposits growing $110 million and loans growing $18 million. Earnings are at $10.5 million for the nine-month period, a return on average assets of 0.69% compared to 0.66% for the same period of last year. Asset growth for the past twelve month period has been over 3.6% and the Bank is over the $2.1 billion level of assets.

Centier Bank anticipates even further lending growth after the recent grand opening of a loan production office in Carmel, Indiana.  Servicing the Carmel/Greater Indianapolis service area, the loan production office is located at 11611 N. Meridian Street, and is home to three veteran business bankers:  David Bowers, Patrick Raftery, and Jeff Olds.  This is the Bank’s first loan production office serving Hamilton County.

Most recently, Centier received two outstanding achievements in small business lending.  Centier topped the list of 2011 Small Business Administration (SBA) lenders in Northern Indiana and was named “Bank of the Year” by the Regional Development Company.  The Indiana SBA also recognized Centier Bank as “Third-Party Lender of the Year” for closing the most SBA 504 loans in the state.  Centier closed 12 loans totaling $16,203,478.00, and accounted for 8% of the state total.  In addition, Centier’s participation in small business lending created or retained 160 jobs in the state of Indiana.

In addition to its commercial banking achievements, Centier is also involved in many long-term initiatives to offer clients even more convenient retail banking services.  This fall, the Bank unveiled a suite of Centier Visa^® Credit Cards for both consumers and businesses.  With the Centier Visa^® card, clients can enjoy a wide range of benefits that includes competitive introductory rates and a choice of reward programs.

This winter, Centier plans to unveil its mobile banking apps for both iPhone^® and Android™ phones.  The introduction of mobile banking services enhances Centier’s electronic banking presence and adds to its current list of convenient banking options.

Michael E. Schrage, President and CEO of Centier, remains optimistic about Centier’s growth trend.  “We continue to make loans in our communities and offer products and services that meet the needs of our clients,” Schrage said.  “Centier appeals to consumers who want a bank built on values, community, and a bank that is supportive of local businesses.  As the largest family-owned private bank in Indiana, we are competitive while providing the personal touch of a hometown bank.  That’s what community banking is all about

Managed by four generations of visionary business bankers, the Schrage family has established a company that has become a rarity in today’s market:  Independently owned and operated.  During a time of buy-outs and mergers among other financial institutions, Centier has remained true to its promise that it is “Not For Sale”.  It is this “Not For Sale” promise that allows associates and clients to take comfort in a corporate culture that affirms the traditions of yesterday and the legacy of tomorrow.

Centier currently has 45 retail banking locations in Lake, Porter, La Porte, Marshall, and Tippecanoe Counties.

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