MUNSTER — NorthWest Indiana Bancorp (NWIN.OB), the holding company for Peoples Bank SB, announced today that Peoples Bank has successfully completed the previously announced acquisition of First Federal Savings and Loan Association of Hammond (“First Federal”), a federal mutual savings bank headquartered in Hammond, Indiana. Peoples Bank acquired the assets and liabilities of First Federal in a voluntary supervisory merger conversion transaction. No shares were issued or cash or other consideration was paid in the transaction.
With the completion of the acquisition, Peoples Bank will have approximately $760 million in assets, $482 million in loans and $629 million in deposits. The acquisition will expand Peoples Bank’s retail banking network to 14 banking centers located in Lake and Porter Counties in Northwest Indiana. The joining of First Federal into the Peoples Bank brand will be completed during the third quarter of 2014.
