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Centier Bank opens new branch in West Lafayette

A Centier Bank sign in downtown Gary.

Merrillville-based Centier Bank, the largest privately-owned bank in Indiana, is continuing its expansion downstate by adding its sixth branch in Lafayette.

Centier opened its new Lafayette East Banking Center at 5 Executive Drive, by a Lowe's.

The family-owned bank, which started as the Bank of Whiting in 1895, recently toppled Chase as market leader in Northwest Indiana with $2.5 billion in deposits in Lake, Porter and LaPorte counties, or 19.21 percent of the overall market share. It has 43 branches across the Region.

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Centier Chief Executive Officer and Chairman Michael Schrage said Centier has largely saturated the Northwest Indiana market, so it's expanding across Northern Indiana in population centers like South Bend, Fort Wayne, Indianapolis and Lafayette.

The 122-year-old bank employs 800 workers at 54 offices in 25 communities across the state. Centier recently surpassed the threshold of $3.5 billion in total assets, and is currently on pace to grow to $5 billion in assets by 2020, and to $10 billion by 2030 without any acquisitions.

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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.