Latest News / Centier Bank Reports Earnings and Growth for 2017
Centier Bank Reports Earnings and Growth for 2017
February 16, 2018
MERRILLVILLE – Centier Bank achieved another profitable year of growth in 2017 with reported earnings over $38 million and a return on average assets of 1.04% for the year, ending December 31, 2017. Total loans grew by over $420 million, or 14% from the prior year.
“2017 was a banner year for Centier Bank, with an 11% increase in total deposits, a 26% rise in mortgage loans, and a 13% increase in total assets,” said Mike Schrage, President and CEO of Centier Bank. “Last year, we also implemented a new Warehouse Lending program that has expanded our offerings and made our bank a stronger, more diversely-invested entity.”
The bank continued its strategic expansion in Northern Indiana, with new branches opening in Lafayette, Goshen, Granger, and South Bend Meijer. Centier also opened a much-anticipated branch in Downtown South Bend as the anchor tenant of the historic JMS Building, located at 108 N. Main Street. The bank has plans for continued expansion in 2018.
The opening of these branches further solidifies Centier’s commitment to remaining a premier community bank and commercial real estate and residential lender in Indiana that remains “Not for Sale.” This “Not for Sale” commitment is a personal promise that Centier Bank will remain independently owned and operated for generations to come. Since 2007, Centier Bank has been among the “Best Places to Work in Indiana” by the Indiana Chamber of Commerce and last year received national attention by American Banker, ranking #5 among the nation’s Best Banks to Work For between $3 billion and $10 billion in assets.”
The bank completed the first year of its Community Relations and Business Development division, which focuses on building relationships with the communities in which Centier serves. The group oversaw sponsorships and donations to 683 organizations throughout the state of Indiana. The division also tracked a total of 13,351 hours of volunteerism by Centier associates to 798 organizations. Within the division, the Community Reinvestment Act and Centier to You programs delivered additional benefits to Indiana residents through special financing and financial literacy programs, respectively.
“At the heart of it all, we remain a true community bank,” stated Schrage. “For years and generations to come, we want clients to know and experience the Centier difference. Through improvements to our online experience, additional communication through social media channels, and an even stronger presence in community initiatives and events, our associates will look to ‘WOW’ and make an impact in our communities.”
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, private, family-owned 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 www.centier.com.
Securities and insurance products are offered by Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered by Cetera Investment Advisers LLC. Neither firm is affiliated with Centier Bank where investment services are offered. Advisory services may only be offered by Investment Adviser Representatives.
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