Centier Bank celebrates 100th
Item
Title
Centier Bank celebrates 100th
Creator
Banking Plus
Date
April 26, 1995
Identifier
SN.01.821
Subject
Community, Michael Schrage, Henry Schrage, Centennial, Anniversaries, 100th Anniversary, Walter E. Schrage, Walter E. Schrage Jr.
Original Format
newspaper
Text
Centier Bank, Lake and Porter counties' local, family-owned bank, marked its 100th Anniversary on April 21, 1995. Founded by Henry Schrage in 1895 in Whiting, Indiana, the Bank has specialized in serving Northwest Indiana families, small businesses and their communities and intends to continue this tradition into their next century of service.
"This anniversary is a pretty unique accomplishment in today's environment of larger, national banks taking over most of the smaller, community banks," stated Michael Schrage, president and CEO of Centier Bank. "The Bank has become a longstanding tradition in the Schrage family, and I believe our success will continue. The friendly, personal service our local staff can provide is something we're very proud or ... and some thing our customers have to come to expect from Centier. We want to be more than just a place where people do business. We're involved in our communities and really try to make a difference in the lives of those around us."
A series of celebrations were held by the Bank, including the renaming of New York Avenue in Whiting to Centier Avenue on the morning of April 21st; an employee and retiree gathering at the Radisson Hotel that evening, and a public performance of the "Air Force Band of Flight 'Night Flight' Jazz Ensemble" in Whiting on Sunday, April 23rd. Additionally, celebrations are planned for each of the Bank's communities during the summer of 1995. In recognition of the Anniversary, Centier established a Schrage Family Scholarship Foundation which will annually award a $2,000 scholarship to one student at each of ten public high schools in Centier's market areas. The Bank also purchased a "Centennial Trolley" which will be visible in Lake and Porter counties throughout this year, and a moonwalk to be used at public events and festivals.
Centier created a limited edition savings bank, which is a replica of the original bank building on 119th Street in Whiting, and a "Centennial Cookbook" with over 500 recipes from Northwest Indiana residents. Both items can be purchased at any Centier office.
A Brief History
Centier Bank is rich in history, with four generations of the same family owning and managing the Bank throughout the past century. Henry Schrage a native of Germany and the Bank's founder, was able to open the "Bank of Whiting" after Standard Oil purchased some of his family's land. Henry was so dedicated to ensuring the Bank's success that, in fact, during the depression years he used his personal assets to keep the Bank solid when many loans had gone bad.
Walter Schrage Sr. the family's next generation, continued the Bank's success while being very active in the Whiting community. As Mayor of Whiting, Walter helped transform the area from a community of sand hills, wooden sidewalks and unpaved streets to a city that was modern in every respect.
His son, Walter Jr., became president upon the death of his father and in 1960 changed the name of the Bank from "Bank of Whiting" to "First Bank of Whiting" to eliminate confusion with the State Bank of Whiting. Under his management the Bank enjoyed substantial growth and opened four branch offices in the surrounding communities of Highland, Dyer, Pine Island and Griffith.
Michael E. Schrage the fourth generation of the Schrage family, was named chairman in 1982 upon his father Walter Jr.'s death, a position that his still holds today. Under his direction, seven locations were added throughout Lake County and the Bank entered Porter County in 1987 with a branch opening in Valparaiso.
With this continued growth, it became clear that a new, unique name was needed to avoid confusion between the many other "Firsts" in the area. In 1991, the name was changed to Centier Bank to symbolize a century of service, Centier customers being the center of the Bank's attention, and striving to be the premier bank in Northwest Indiana.
One hundred years after Henry Schrage first dreamed of opening his own bank Centier, remains an independent, family owned and family-managed financial institution with 18 offices serving Lake and Porter counties and over $500 million in assets.
Centier's Accomplishments
The past year has been one of many successes for Centier Bank. As reflected in their Mission Statement, the Bank focuses on families, small businesses and their communities. Centier's efforts in making their products and offices accommodating for families has resulted in the Bank receiving the first every "Family Friendly Business Award" from the Porter County Chapter of F.E.M.A.L.E., (Formerly Employed Mothers at the Leading Edge), an award that is given to a local business that has established and maintained family-friendly policies in the workplace to benefit the community. Centier also received Indiana's "Family Life Enhancement Award" from Methodist Hospital of Indianapolis. This award was created by Methodist to recognize for-profit Indiana businesses with family-sensitive policies and programs.
"This anniversary is a pretty unique accomplishment in today's environment of larger, national banks taking over most of the smaller, community banks," stated Michael Schrage, president and CEO of Centier Bank. "The Bank has become a longstanding tradition in the Schrage family, and I believe our success will continue. The friendly, personal service our local staff can provide is something we're very proud or ... and some thing our customers have to come to expect from Centier. We want to be more than just a place where people do business. We're involved in our communities and really try to make a difference in the lives of those around us."
A series of celebrations were held by the Bank, including the renaming of New York Avenue in Whiting to Centier Avenue on the morning of April 21st; an employee and retiree gathering at the Radisson Hotel that evening, and a public performance of the "Air Force Band of Flight 'Night Flight' Jazz Ensemble" in Whiting on Sunday, April 23rd. Additionally, celebrations are planned for each of the Bank's communities during the summer of 1995. In recognition of the Anniversary, Centier established a Schrage Family Scholarship Foundation which will annually award a $2,000 scholarship to one student at each of ten public high schools in Centier's market areas. The Bank also purchased a "Centennial Trolley" which will be visible in Lake and Porter counties throughout this year, and a moonwalk to be used at public events and festivals.
Centier created a limited edition savings bank, which is a replica of the original bank building on 119th Street in Whiting, and a "Centennial Cookbook" with over 500 recipes from Northwest Indiana residents. Both items can be purchased at any Centier office.
A Brief History
Centier Bank is rich in history, with four generations of the same family owning and managing the Bank throughout the past century. Henry Schrage a native of Germany and the Bank's founder, was able to open the "Bank of Whiting" after Standard Oil purchased some of his family's land. Henry was so dedicated to ensuring the Bank's success that, in fact, during the depression years he used his personal assets to keep the Bank solid when many loans had gone bad.
Walter Schrage Sr. the family's next generation, continued the Bank's success while being very active in the Whiting community. As Mayor of Whiting, Walter helped transform the area from a community of sand hills, wooden sidewalks and unpaved streets to a city that was modern in every respect.
His son, Walter Jr., became president upon the death of his father and in 1960 changed the name of the Bank from "Bank of Whiting" to "First Bank of Whiting" to eliminate confusion with the State Bank of Whiting. Under his management the Bank enjoyed substantial growth and opened four branch offices in the surrounding communities of Highland, Dyer, Pine Island and Griffith.
Michael E. Schrage the fourth generation of the Schrage family, was named chairman in 1982 upon his father Walter Jr.'s death, a position that his still holds today. Under his direction, seven locations were added throughout Lake County and the Bank entered Porter County in 1987 with a branch opening in Valparaiso.
With this continued growth, it became clear that a new, unique name was needed to avoid confusion between the many other "Firsts" in the area. In 1991, the name was changed to Centier Bank to symbolize a century of service, Centier customers being the center of the Bank's attention, and striving to be the premier bank in Northwest Indiana.
One hundred years after Henry Schrage first dreamed of opening his own bank Centier, remains an independent, family owned and family-managed financial institution with 18 offices serving Lake and Porter counties and over $500 million in assets.
Centier's Accomplishments
The past year has been one of many successes for Centier Bank. As reflected in their Mission Statement, the Bank focuses on families, small businesses and their communities. Centier's efforts in making their products and offices accommodating for families has resulted in the Bank receiving the first every "Family Friendly Business Award" from the Porter County Chapter of F.E.M.A.L.E., (Formerly Employed Mothers at the Leading Edge), an award that is given to a local business that has established and maintained family-friendly policies in the workplace to benefit the community. Centier also received Indiana's "Family Life Enhancement Award" from Methodist Hospital of Indianapolis. This award was created by Methodist to recognize for-profit Indiana businesses with family-sensitive policies and programs.