MUNSTER – North West Indiana Bancorp, the holding company for Peoples Bank, has reported a fourth-quarter profit.
Net income for the quarter was $1.1 million, up $7,000 from the same quarter in 2009. In 2010, the profit was $5.2 million, up from $2.5 million in 2009.
“Peoples Bank continues to generate operating profits that outpace industry performance,” said Chairman and CEO David Bochnowski. “The bank doubled earnings in 2010 despite the lingering effects of the worst recession in modern times.”
Bochnowski praised the bank’s management and employees for the improvement.
