Peoples Bank Acquisition Complete

Posted: Updated:
NorthWest Indiana Bancorp is the parent of Peoples Bank. (photo courtesy of our partners at The Times of Northwest Indiana) NorthWest Indiana Bancorp is the parent of Peoples Bank. (photo courtesy of our partners at The Times of Northwest Indiana)
MUNSTER -

Munster-based NorthWest Indiana Bancorp has completed its $15 million acquisition of First Personal Financial Corp. in Illinois. The parent of Peoples Bank SB says the deal brings the number of full-service bank branches under its umbrella to 19.

The acquisition was first announced in February. First Personal Financial Corp. is the parent of First Personal Bank, which NWIN says will be integrated into the Peoples Bank brand. That effort is expected to be complete during the third quarter of 2018.

"Closing on this acquisition represents an important strategic step for Peoples Bank as we enter the South Suburban Chicagoland market," said Benjamin Bochnowski, chief executive officer of NWIN. "I look forward to working with Randy Schwartz, president and chief executive officer of First Personal Bank, as he joins the Peoples team and helps us continue to create value for all of our stakeholders. The combined organization remains committed to building strong customer relationships and helping the customers and communities we serve be more successful."

Schwartz will take on the new role of Chicagoland Market President at Peoples. As a result of the deal, Peoples Bank will have approximately $1.1 billion in assets, $745 million in loans and $948 million in deposits.

  • Perspectives

    • (photo courtesy of Conexus)

      Getting the Word Out About Manufacturing & Logistics

      As the epicenter of the nation’s advanced manufacturing and logistics industries, Indiana has a compelling story to tell about how Hoosier companies make and move the goods people depend on every day. Our goal is to ensure everyone hears these stories – many of which share a common theme focused on cutting-edge technologies that are transforming the way products are made and moved around the world and the people who use them. Conexus Indiana launched an...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Kelley School of Business at IU Bloomington is the highest-ranked program in Indiana. (Provided Photo/Indiana University)

      Three Indiana Business Schools Score High Marks

      If your high school student or still “undecided” college student is considering a degree in business, the state of Indiana seems to be a good place to be, and without having to pay out-of-state tuition. Forbes magazine has released its annual listing of The Best Business Schools, specifically those with full-time, residential, M.B.A programs.  

    • (original artist rendering of Merchant's Bancorp HQ) of Carmel)

      Merchants Bancorp to Celebrate New HQ

      Carmel-based Merchants Bancorp (Nasdaq: MBIN) is celebrating Friday the grand opening of its new headquarters. The company says the HQ represents its commitment to long-term and sustainable growth. 

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.