NorthWest Indiana Bancorp, the Munster-based parent company of Peoples Bank, is seeking to get its common stock listed on the NASDAQ Stock Market.
The bank's board voted to authorize it to file an application to get listed on NASDAQ by the second quarter of this year.
People's Bank's stock is publicly traded under the symbol NWIN.
Currently, the bank's common stock is traded on the OTC Pink Marketplace that is maintained by OTC Markets Group Inc. and on the OTC Bulletin Board that's maintained by the Financial Industry Regulatory Authority.
Getting the stock listed on the Manhattan-based NASDAQ, the second largest stock exchange by market capitalization after only the New York Stock Exchange, would potentially give Peoples Bank access to more capital. NASDAQ was the world's first electronic stock exchange in 1971, ushering in a technological revolution that has since widely eclipsed over-the-counter trading in popularity.
NASDAQ has a market capitalization of more than $18 trillion and thousands of listed companies.
Founded in East Chicago in 1910 and still managed by the founding Bochnowski family to this day, Peoples Bank operates 22 locations in Lake and Porter counties in Northwest Indiana and across the state line in south Chicagoland. The full-service bank offers a full range of personal, business and wealth management financial services.
For more information, visit ibankpeoples.com.
Region stores that closed in 2020
Region stores that closed in 2020
The brick-and-mortar retail sector has been struggling because of competition with e-commerce giants like Amazon, eBay, Wayfair, Chewy and Zappos. But 2020 presented unprecedented challenges because of COVID-19 and the resulting lockdowns and restrictions. Here's a look at stores in the Region that closed, announced they would close, filed for bankruptcy or were saved from closure in 2020:
Art Van Furniture to close all stores, including in Hobart and Portage.
Family Video, the Glenview, Illinois-based company that's now the largest video store chain left in the United States, is closing 200 locations across the country this month, including in Dyer and Valparaiso.
Bed Bath & Beyond plans to close its locations in Hobart and Orland Park before the end of the year.
The Kmart in Valparaiso, the last one left in Northwest Indiana, has closed.
The Express clothing store closed Sunday in River Oaks Center in Calumet City.
The long-running family-owned jewelry store chain opened an outpost in the super-regional Southlake Mall in 2012.
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Carson's, the iconic Midwestern department store chain that has been run out of Merrillville as an e-commerce site since it collapsed into bankruptcy in 2018, closed its only remaining brick-and-mortar store in Evergreen Park, Illinois.
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The bankruptcy could deliver a big blow to the Southlake Mall and Lighthouse Place Premium Outlets.
The California-based retailer plans to keep open its stores, including its Hobart location at 2108 E 80th Ave. The musical superstore across from the Southlake Mall has long been a destination for musicians from across Northwest Indiana.
JC Penney, which already had filed for bankruptcy and announced it was shuttering 230 stores nationwide, said it would close its Calumet City department store at 200 River Oaks Drive. The troubled retailer is shuttering 154 stores this summer and plans to announce another wave of closures in the next few weeks.
The J.C. Penney at River Oaks Center has been spared from a previously announced closure as the troubled retailer works through a Chapter 11 bankruptcy.
A longtime customer is buying the Brumm's Bloomin' Barn florist and gift shop in Highland, which will become Bloomin' Barn next year.
Piper Boutiques is closing after 37 years in Valpo, while businesses across Northwest Indiana are limping on and looking for the public's support while still offering freebies for health care workers and first responders.
Macy's won't say whether its stores at the Southlake Mall and River Oaks Center will make the cut.
Pier 1 Imports filed for bankruptcy as it holds liquidation sales at its stores in Hobart and Valparaiso.