Centier Bank attains $4 billion in loans, $4.7 billion in assets

Centier has opened a new branch on Franklin Street in Michigan City.

Centier surpassed $4 billion in loans and $4.7 billion in assets in the second quarter.

The Merrillville-based bank reported posting its ninth consecutive quarter of pre-tax earnings growth. Centier is privately owned and did not disclose its actual earnings or the amount of growth.

The bank said that Centier Financial Partners, a department that offers trust, retirement and investment services, has grown revenue by 18% year-over-year during the first six months because of a steady investment market and strong client growth.

“We continue to see success arise from the high quality of service we provide along with the Servant Heart Culture our associates display in their interactions,” Centier President and CEO Mike Schrage said. “We are growing on a strong, steady basis with a foundation built upon forming long-lasting relationships with our clients and communities.”

Centier recently opened its 62nd branch in Indiana, a newly constructed 1,800-square-foot branch at 5501 Franklin St. in Michigan City. The family-owned bank, which Henry Shrage founded as the Bank of Whiting in 1895, plans to open additional branches in Elkhart in September and Fort Wayne in November. 

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In late August, Centier will move its downtown Indianapolis branch from 1 N. Pennsylvania St. to the more prominent location of 50 S. Meridian St. on Indianapolis's main thoroughfare in the heart of the Wholesale District.

Centier expects continued growth in 2020, which will be its 125th year of existence.

The company employs 900 workers across the state and estimates they have volunteered for 10,000 hours for nearly 700 different nonprofits so far this year.

For more information, visit www.centier.com.


Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.