The parent companies of Munster-based Peoples Bank and Michigan City-based Horizon Bank have received recognition as ranking among the nation's top community banks.
American Banker magazine in its May edition listed both Horizon Bancorp and NorthWest Indiana Bancorp as two of the top 200 community banks. This is the seventh consecutive year Peoples has received this recognition, and the fifth consecutive year Horizon has received it.
The list includes publicly traded banks and thrifts with less than $2 billion in assets as of Dec. 31, and rankings are based on a bank's three-year average return on equity. The three-year average for Horizon, which ranked No. 60, was 11.1 percent. The three-year average for Peoples, which ranked No. 111, was 9.4 percent.
In all, 11 Indiana banks earned rankings on the list.
“I’m proud of our team and their accomplishments and know that we will continue to strive towards achieving this recognition in the years ahead,” said Craig M. Dwight, president and chief executive officer, in a statement.
In addition, Peoples was ranked one of the nation's Top 100 Public Thrifts of 2012 by SNL Financial. SNL's ranking is based on financial metrics that focus on profitability, asset quality and growth. Peoples is one of only six Indiana banks to make that list.
"Our results demonstrate the ability and extraordinary effort of the Peoples team to stay on course strategically and put our customers first," said David Bochnowski, chairman and CEO of Peoples Bank, in a statement.