Merrillville-based Centier Bank, the largest privately owned bank in Indiana, reported earnings of more than $32 million for 2015, reflecting a 1.13 percent return on average assets.
Total loans grew by more than $350 million, or 15 percent. Most notably, the bank surpassed $3 billion in total assets and $300 million in core capital.
“Commercial Loans grew by $275 million in 2015, an increase of nearly 16 percent,” said Centier Bank President and CEO Mike Schrage. “Last year, we had record numbers for Consumer Loans, with over $102 million in new loans opened. We also had record closed mortgage loans in our bank history with 1,491 loans for $282 million.”
The growing bank opened a downtown Gary branch last year in the historic former Gary State Bank building at 504 Broadway. Centier also opened a branch by Monument Circle in downtown Indianapolis, and it plans to grow throughout the Indianapolis suburbs over the next few years.
“We are excited to be neighbors in these downtown metropolitan areas and hope our presence will contribute to the vitality and growth of our Indiana cities,” Schrage said. “Our eyes are on opening a new downtown South Bend location later this year.”
Centier, known for its “not for sale” pledge, plans to expand its network of EZ Deposit ATMs and Interactive Teller Machines, which accept deposits and do more kinds of transactions than normal ATMs.
“We are looking ahead and building convenient electronic banking amenities that cater to clients who need flexible banking hours,” Schrage said. “We want clients and future generations to experience the Centier difference, even if they don’t always step foot into a branch.”
Since 2007, Centier Bank has been named among the top 10 “Best Places to Work in Indiana” by the Indiana Chamber of Commerce and received national attention by American Banker magazine as one of the Top 20 Best Banks to Work For in the U.S.A.