Centier Bank reported earnings of $24.7 million for the year ended December 31, 2012. This is a 48% increase over the $16.7 million earned in 2011. The Bank continued to bolster its well-capitalized position with total equity capital increasing to $201 million, an 11% increase over 2011. Total Assets increased 3.7% to $2.203 billion. Business loans showed an increase of $81 million to $1.264 billion; a 6.8% increase.
The Bank continues to see an extremely active residential mortgage market and has helped 1,364customers purchase or refinance their mortgages on more than $207 million of home loans in 2012. Loan delinquencies continue to improve significantly and loan losses have been reduced by over $10 million from the prior year. This has been the largest contributing factor to the earnings improvement in 2012. The Bank remains well capitalized by all regulatory standards.
With a continued eye on technological advancement, Centier introduced mobile banking to its line of services in 2012, accommodating the growing needs of its clients. “We’ve identified a growing shift in the number of people who are banking on the go,” stated Mike Schrage, Centier Bank President and CEO. “More than 20% of our current client base utilize mobile or tablet banking devices on a regular basis – and that number is growing.”
“Clients want responsive and ready access to services and our support teams at all times, which is why we’ve improved communication tools to help with that process,” Schrage continued. “Our social networking efforts have resulted in last year’s milestone achievement of reaching more than 10,000 Likes on Facebook.”
In addition to enhancing communication channels, in 2012 Centier joined a new partnership with the MoneyPass ATM network, offering Centier clients free nationwide access to more than 23,000 ATMs with no surcharges. This added banking convenience is ideal for commuters, frequent travelers, and students living out of Centier’s retail service area.
“Centier turned the corner as a community bank that offers nationwide services – by becoming an anchor partner in the Indiana MoneyPass network,” stated Schrage. “As such, we are able to give our clients free ATM access to more than 23,000 ATMs across the nation. This is a great convenience to many of our clients who travel outside of our service area and need to access their funds from a non-Centier ATM location.”
In 2013, Centier will continue to grow its physical service network with six planned grand openings during the late spring and early summer months. Centier is in the process of rebuilding its Crown Point Downtown and Valparaiso South branches. The new Crown Point Downtown branch opened this week, with outside construction on a commons area and landscaping to be completed later this year. Centier is also looking forward to opening three new grocery store branch locations in the new Cedar Lake Strack & Van Til store, Hammond Van Til’s store, and the Fort Wayne Kroger this spring.
In addition to retail expansion, Centier Bank is expanding service teams at its loan production offices in Mishawaka, Fort Wayne, and Carmel. Schrage notes that the bank has already hired many seasoned mortgage loan originators at these locations to join Centier’s expanding team.
“We’ve had an outstanding year in mortgage lending and are looking forward to growing and making more loans in our communities,” stated Schrage.
For the sixth year in a row, Centier was listed among the top 10 employers in the state of Indiana by the Indiana Chamber of Commerce. 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.