Peoples Bank Hits Record Earnings
Munster-based NorthWest Indiana Bancorp is reporting record full-year net income of $9.1 million in 2016, up from $7.9 million the previous year. The results represent the fifth consecutive year of record earnings for the parent of Peoples Bank.
The bank is also reporting fourth quarter net income of $2.3 million, up from $2 million during the same period in 2015. Chief Executive Officer Benjamin Bochnowski says the results are the culmination of a multi-year plan.
"The Bank’s two recent mergers have also been fully integrated, and together have produced the growth that we are reporting today. As a result, Peoples Bank is better positioned to serve its customers than ever before” said Bochnowski. "These results are consistent with our operating plan for the year, and are remarkable in that they significantly outpace growth in our core markets."
Bochnowski adds "significant investments" should bring fuel additional growth in 2017, including a new branch in Highland.