Munster-based Northwest Indiana Bancorp, the parent company of Peoples Bank reports profits up 13.5 percent year-over-year increase in earnings to $2.2 million in the second quarter.

“Management continues to carry out the bank’s strategic plan, and the three- and six-month operating results reflect that,” CEO Benjamin Bochnowski said.

“Improved net interest income comes from strong loan growth, along with continued success in growing our deposit relationships.”

The bank has advantages of scale through organic growth and integrating two acquisitions, leading to improved expense and efficiency ratios, Bochnowski said.

In the first six months of the year, Peoples Bank grew profits by 14.9 percent to $4.5 million compared to $3.9 million during the same period in 2015. The community bank also grew assets by 5.1 percent to $909.4 million during the first six months of the year.

“The bank’s growth and performance is fueled by the continued improvement in Northwest Indiana’s economy and by the hard work of our dedicated team of employees,” Bochnowski said. “As personal and business banking needs have changed, we have been able to create and grow partnerships with our customers so that they can achieve their financial goals.”

The results show the bank has the capital, management and performance to remain independent and continue to be the local financial partner of choice in the Region, he added.

Peoples Bank, which is publicly traded on the OTC Bulletin Board under the symbol NWIN, earned $1.57 per share during the first six months of the year.

Peoples Bank also got a return of 1.03 percent on average assets and of 10.64 percent on average equity during the first six months of the year.

The bank, which has 16 locations in Lake and Porter counties, made 78 cents per share in the second quarter.