VALPARAISO – Sherry Desrosiers has been named trust administrator in the personal asset management group at 1st Source Bank in Valparaiso. She has 20 years of experience and most recently was vice president and executive director of the St. Mary’s Foundation in Saginaw, Mich. Previously, she was market executive for Citizens Bank. Desrosiers is a […]
VALPARAISO – 1st Source Bank has donated $25,000 to the Valparaiso Family YMCA for its Promises Kept capital campaign. Bob Ax, 1st Source regional president, and Gloria McKown, 1st Source Valparaiso market manager, presented the donation to Bob Wanek, CEO of the YMCA, and Joe Ubben, a YMCA board member. “We appreciate the positive impact
MUNSTER – Citizens Financial Bank reported a loss of $12.6 million in the fourth quarter, compared to net income of $918,000 a year ago. The loss was blamed on a write-down of problem assets due to lower property values. President and CEO Daryl Pomranke said the bank is moving to reduce costs in 2012, including
MICHIGAN CITY – Horizon Bancorp, the parent company for Horizon Bank in Michigan City, has acquired Heartland Bancshares Inc. in Franklin. It operates Heartland Community Bank. The agreement calls for Horizon to issue 0.54 shares of common stock for each share of Heartland common stock. Horizon’s price per share is $18 and Heartlands was $9.72.
MUNSTER – NorthWest Indiana Bancorp, the parent company for Peoples Bank, has announced a 4 percent increase in earnings for 2011. Yearly profit was $5.4 million, said David Bochnowski, chairman and CEO. In the fourth quarter, Peoples posted net income of $1.4 million, up 24 percent on 2010. The bank announced assets of $651.7 million
MERRILLVILLE – Centier Bank has announced its 2011 earnings were up 64 percent from 2010. The bank posted a net profit of $16.7 million in 2011, up from $10.2 million in 2010. In the fourth quarter, Centier posted a profit of $6.2 million. Centier’s assets in 2011 were $2.1 billion, up 6.1 percent from last
SOUTH BEND – 1st Source Corp. has announced record earnings of $48.2 million in 2011. The bank said the financial results are 17 percent above last year, which earnings were $41.2 million. Earnings per share rose from $1.21 in 2010 to $1.96 last year. 1st Source operates 75 banking centers in 17 counties, 23 finance
MICHIGAN CITY – Horizon Bancorp has announced fourth quarter income was up 23 percent compared to one year ago to $3.5 million. For the year, Horizon posted earnings of $12.8 million. “Achieving record assets and net income and concurrently growing loans and deposits and reducing Horizon’s loan loss provision in a recessionary economy was a
MUNSTER – Citizens Financial Bank has been named a Top Workplace for 2011 by the Chicago Tribune for the second consecutive year. Citizens was selected following an evaluation and survey by the bank’s 300 employees that looked at direction, conditions, career, execution, managers, pay and benefits. “We are once again proud and honored to have
by Rick A. Richards Northwest Indiana bankers say their business is different–a lot different–than a year ago. Banking has seen a lot of change, nearly all of it driven by legislative reform as a result of the mortgage meltdown that threw the nation’s economy into a tailspin. Not one region bank was involved in sub-prime
Banking on Change: New regulations bring higher costs, bankers claim Read More »
