MUNSTER – Citizens Financial Bank has announced its net income for the third quarter was $1.3 million. Net interest income was $10.2 million, down 5 percent from one year ago. At the end of September, Citizens Financial has $1.1 billion of assets. The bank has 20 offices in Northwest Indiana and the Chicago suburbs.
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SOUTH BEND – 1ST Source Bank will donate $50,000 to support entrepreneurship and venture development in Northwest Indiana. The donation to Elevate Ventures, an Indiana venture development organization, will help provide rigorous business analysis and advisory service to area entrepreneurs. The banks donation will be matched by $3 million in investments from the Indiana Economic
MERRILLVILLE – Centier Bank has announced a 44 percent increase in its third quarter revenue to $72 million. President and CEO Mike Schrage said the bank has an active residential mortgage market in the quarter and that lower loan delinquencies helped the bank’s bottom line. Centier has assets of $2.13 billion. Schrage said Centier expects
SOUTH BEND – James Seitz has been named president of 1st Source Bank. Most recently he was executive vice president and was responsible for consumer and electronic banking, managing the regional presidents in Indiana and Michigan and consumer lending and mortgage, electronic and mobile banking, branch administration, deposit operations and corporate-wide marketing. He joined 1st
LAPORTE – First Trust Credit Union has broken ground on an expansion of its LaPorte office on J Street. The office will double in size from 1,700 square feet to 3,125 square feet. The project includes a new façade, additional office space, a larger lobby, an additional drive-through lane, safety deposit boxes and public restrooms.
MICHIGAN CITY – First Trust Credit Union has named Kim Kniola as president and CEO, effective Jan. 1. She has been with First Trust for 29 years and replaces Ronald Budzinski, who headed the credit union for 27 years. He is retiring at the end of the year. Kniola is a graduate of Ball State
MUNSTER – American Savings FSB has named Brian Specht as vice president of lending and credit manager. Specht has more than 20 years of banking experience. President Michael Mellon said, “We are excited to add Brian to our lending team. He’ll add new energy to our Lending Center. I expect many good things – for
MUNSTER – Joel Gorelick, president and chief administrative officer of Peoples Bank, is retiring from the bank. He joined Peoples in 1983 as vice president for commercial lending and went on to develop the bank’s commercial line which today accounts for 65 percent of the bank’s loan portfolio. “I was born and raised in the
MICHIGAN CITY – Horizon Bancorp, the parent company for Horizon Bank, has announced a third quarter profit of $4.9 million, up from $3.4 million on year ago. The increase was attributed to an improving portfolio and the acquisition of Heartland Bancshares Inc. in Franklin, Ind. CEO Craig Dwight Horizon expects to increase its commercial lending
MUNSTER – NorthWest Indiana Bancorp, the parent company for Peoples Bank, has announced net income for the third quarter more than doubled from $1.1 million to $2.3 million. The increase was attributed to income from loans and foreclosed real estate sales. Chairman and CEO David Bochnowski said the region’s economy is improving, leading more people
