Centier Announces Mid-Year Financial Performance

July 12, 2013

Centier Bank reported its mid-year financial performance with asset growth of $26 million in the first six months of 2013, resulting in total assets of $2.229 billion at June 30, 2013. Loans increased $76 million to $1.844 billion, an increase of nearly 5% for the first six months of 2013. Deposits increased $75 million and reached $1.962 billion at June 30, 2013. Equity capital reached $220 million, an increase of $19 million in 2013 and $29 million over the past year. The Bank remains well capitalized by all regulatory standards.

Centier earnings for the first half were $13.8 million, which equals an annualized return on average assets of 1.27%, an increase from $11.1 million in the first half of 2012. 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 2013.

In the first half of the year, Centier has been extremely active in the residential mortgage business, helping 680 customers achieve the dream of homeownership on more than $107 million of home loans. Centier forecasts an active mortgage market in the second half of the year, and has prepared for an increase in activity by expanding its mortgage sales and loan operations team in Merrillville, Lafayette, Carmel, La Porte, Mishawaka, and Fort Wayne.

Centier also experienced significant retail branch growth this year with the addition of retail services for the new Cedar Lake Strack & Van Til’s and Hammond Van Til’s. The bank also celebrated the grand opening of two newly constructed branches, Crown Point Downtown, which underwent a complete remodel and expansion, and Valparaiso South, a newly constructed branch that occupies a relocation just two blocks west of its former space on the corner of Route 30 and Hwy. 2.

Founded in 1895, Centier is now 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 been named “Best Bank for Business” for the past eleven 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 seven years. Most recently, Centier was named in the top five of the Top 50 Community Bank Leaders in Social Media. Centier currently has over 10,000 Facebook Likes and growing.

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