Latest News / Centier Bank Sets Record for Highest Quarterly Income in 123-Year History
Centier Bank Sets Record for Highest Quarterly Income in 123-Year History
October 30, 2018
MERRILLVILLE – Centier Bank has continued building on another year of success and growth, recording the highest quarterly net income of $14.8 million. This represents the highest quarterly net income in the bank’s 123-year history.
The strong third quarter has come at the tail end of a nine-month stretch featuring the highest year-to-date income through September in the bank’s history as well.
“The Centier family continues to build on our successes and grow along with the communities we serve,” said Mike Schrage, President and CEO of Centier Bank. “Our total deposits grew by 12.4% compared to this time last year, and that is a tremendous sign that people trust Centier and believe in our mission of being a true community and family banking partner.”
During a time when many banks in the Midwest are merging or closing altogether, Centier’s growth continues throughout the state. After the bank’s 60th branch opening in Fishers in July 2018, Centier’s 61st branch, located at 2809 Emerson Drive in Elkhart, will begin welcoming the public in mid-November. These new branches solidify Centier’s “Not for Sale” promise that the bank will remain independently owned and operated for generations to come.
Furthering its tradition of awards and accolades, Centier Bank was named as the #1 Best Bank to Work For in Indiana and 10th-best nationwide by American Banker Magazine. The honor joins the Indiana Chamber of Commerce’s “Hall of Fame” designation for the Best Places to Work in Indiana, which honors Centier’s focus on attracting and retaining the best talent in order to best serve their clients.
The bank recently named new members to its Board of Directors, who will continue to lead Centier into the future of community banking. Tim Leman, Chairman and CEO of Gibson (South Bend), Rich Carlton, President and Chief Operating Officer of Data Realty LLC (South Bend), and Chris Campbell, Senior Partner in Lending for Centier Bank were appointed to the bank’s governing board.
As Centier continues to grow and expand, the bank has put a priority on strengthening its roots into the communities it serves. In the third quarter of 2018, their philanthropic initiative was highlighted by a Founding Sponsor Partnership with the City of Whiting’s National Mascot Hall of Fame, complemented by a significant sponsorship for Valparaiso University Athletics’ 2018-19 season.
“As we always say, we want the areas in which we serve to grow as we grow,” said Schrage. “As part of our Servant Heart Culture, it is important that we support the organizations and initiatives that are making a true impact in our communities, both at the corporate level and through volunteering our time and talent.”