Centier Announces Mid-Year Earnings

July 30, 2012

Centier Bank reported its mid-year financial results with asset growth of $34 million resulting in total assets of $2.157 billion at June 30, 2012. Loans increased $48 million to $1.7 billion, an increase of 3% for the first six months of 2012. Deposits increased $26 million and reached $1.87 million at June 30, 2012. Equity capital reached $191 million, an increase of $10 million in 2012 and $18 million over the past year. The Bank remains well capitalized by all regulatory standards.

Centier earnings for the first half were $11.1 million, which equals an annualized return on average assets of 1.06%, an increase from $5.5 million in the first half of 2011. Loan delinquencies have continued to exhibit significant improvement, and reduced loan losses are expected to result in an even better earnings performance in the second half of 2012.

In the first half of the year, Centier has been extremely active in the residential mortgage refinancing business helping 626 customers lower their interest rates on more than $97 million of home loans. In the second half of 2012, Centier will continue to expand its mortgage services team in Lafayette and Greater Tippecanoe County, as well as expand banking services in Carmel and the Greater Indianapolis area.

Plans are currently underway for Centier Bank to reconstruct its Crown Point Downtown office. The demolition and reconstruction of the Crown Point location will take place in two phases over the next year, and the branch will remain open during the construction process. Crews recently installed the branch’s 25,000-pound vault, and will continue to work throughout the winter for a Spring 2013 grand opening. In addition to the remodeled Crown Point office, Centier also announced plans to build a new Valparaiso South branch two blocks west of its current location at 154 W. Morthland in Valparaiso.

Last month, Centier Bank president and CEO, Mike Schrage, announced the addition of four new board of director members. Michael R. Barker (Indianapolis), Tim Brust (Valparaiso), Michael A. Carty (Clinton), and Tim Healy (Portage), joined the Centier board of directors, growing its membership to ten business leaders throughout the Northern Indiana area.

“The addition of these trusted business leaders and community servants expands our board and welcomes members from growing regions that we serve,” stated Schrage. “They join an outstanding group of professionals with knowledgeable, diverse, and driven leadership. It is because of our board of directors, associates, and clients that Centier remains the ‘bank of choice’ preserving independent community banking in Indiana.”

Centier Bank has been named “Best Bank for Business” for the past ten years by the Northwest Indiana Business Quarterly publication and was listed on the Indiana Chamber’s “Best Places to Work” top ten list for the past six years. Most recently, Centier topped the list of 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 “3rd Party Lender of the Year” for closing the most SBA 504 loans in the state.

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