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NorthWest Indiana Bancorp, the parent company of Peoples Bank, reported a record profit of $16.6 million last year, growing net earnings and assets as a result of a booming mortgage business and an influx of Paycheck Protection Program loans. The Munster-based bank, which has swollen in size as the result of recent acquisitions in Illinois, grew its profits by 37.3%, or $4.5 million, year-over-year. It made $4.80 in net earnings year-over-year. Peoples Bank delivered a 1.16% return on average assets and a 11.51% return on average equity last year. â2020 started with strong tailwinds that quickly turned to headwinds in the wake of COVID-19. As our team adjusted to new operating conditions during a time of extreme economic stress, we were able to meet customer demand and continue to create value for our shareholders by effectively capitalizing on opportunities in the local market. Peoples Bank had a record year for earnings, and at the same time was able to build ca ....
Press release content from Globe Newswire. The AP news staff was not involved in its creation. Northwest Indiana Bancorp Announces Intent to Seek Listing of Common Stock on the Nasdaq Stock . Northwest Indiana BancorpJanuary 6, 2021 GMT MUNSTER, Ind., Jan. 06, 2021 (GLOBE NEWSWIRE) NorthWest Indiana Bancorp, an Indiana corporation (the “Bancorp”), announced that its Board of Directors has authorized the Bancorp to seek a listing of its common stock on the NASDAQ Stock Market (the “NASDAQ”). The Bancorp intends to file an application to list its common stock on the NASDAQ by the second quarter of 2021. The Bancorp’s common stock currently is quoted on the OTC Pink Marketplace, which is maintained by OTC Markets Group, Inc., and on the OTC Bulletin Board, which is maintained by the Financial Industry Regulatory Authority, Inc., under the symbol “NWIN.” ....