Latest News / Centier Bank Reports 2016 Earnings and Growth
Centier Bank Reports 2016 Earnings and Growth
January 26, 2017
Centier Bank achieved another profitable year of growth in 2016 with reported earnings over $35.9 million and a return on average assets (ROAA) of 1.09% for the year ending December 31, 2016. Total loans grew by over $315 million, or 12% from the prior year. Centier Bank achieved two significant milestones in 2016 when the bank surpassed $3.5 billion in total assets and $3.0 billion in total deposits.
Commercial Loans grew by over 8% and surpassed the $2 billion mark. Mortgage Loans closed $367 million, a new high for the institution and an increase of $85 million over 2015 as the Centier brand continues to grow in outlying markets. To aid in that brand expansion, Centier added four new locations during 2016 (Westfield, Zionsville, Whitestown Meijer, and Schererville Strack & Van Til), with more planned for 2017.
In addition to retail grand openings, Centier Bank’s office expansion included the relocation of its Fort Wayne Banking Center into a larger, more prominent building at the corner of E. DuPont and Auburn Road, and additional expansion of Centier Bank corporate offices in the adjacent building near its campus headquarters in Merrillville, Indiana.
“We have experienced phenomenal growth over the past few years, particularly in our Northern and Central Indiana communities,” stated Schrage. “We’ve been welcomed by families and businesses who are starved for independent community banking and personalized services that are unique to Centier.”
Further growth is anticipated in 2017: Centier has begun construction on a new Granger branch and South Bend Downtown Banking Center in St. Joseph County to compliment nearby offices in Mishawaka and Elkhart. Centier will also open its fifth Tippecanoe location in East Lafayette. The bank has further committed to its community relations and support by developing new divisions of the bank dedicated to growing business needs. Centier’s Community Relations and Business Development division will aid in the bank’s philanthropy, community outreach, financial wellness, and community reinvestment act initiatives to support the bank’s culture of engagement. Centier has established a new division and leadership team for Mortgage Warehouse Lending and services, further solidifying Centier’s commitment to remaining a premier community bank and residential lender in Indiana.
“We welcome every opportunity for residents to make the change to Centier and experience the Centier difference,” stated Schrage. “ I guarantee that you will always walk away with a network of financial professionals that can help you with every stage of life and will be your financial partner for life. Our commitment to service excellence and our family legacy are the foundation for our “Not for Sale” promise that Centier Bank will remain independently owned and operated for future generations to come.”
About Centier Bank
Since 2007, Centier Bank has been among the top “Best Places to Work in Indiana” by the Indiana Chamber of Commerce and received national attention by American Banker magazine as one of the Top Best Banks to Work For in the U.S.A.
Centier is the largest privately-owned independent bank in Indiana and remains committed to being owned and operated by the Schrage family in the future. The bank has retail banking locations in Allen, Boone, Elkhart, Hamilton, Lake, La Porte, Marion, Marshall, Porter, St. Joseph, and Tippecanoe Counties in Indiana. For more information on Centier products and services, visit centier.com.