Centier Bank posts lower 2nd quarter profit

MERRILLVILLE – Centier Bank has reported a second quarter profit of $2.7 million, down from $3.9 million in the same quarter one year ago. The privately held bank attributed the decline in profitability to higher operating expenses.

President and CEO Michael Schrage said net interest income was $19.5 million, up 3.2 percent, but noninterest income was down from $7.1 million to $7 million.

At the end of the second quarter, deposits were $1.8 billion and assets were $2.1 billion. Centier has 45 locations, including a new downtown Hammond office that opened in the second quarter. It also opened a loan production office in Carmel in the quarter.

 

 

 

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