MUNSTER, Ind.–(BUSINESS WIRE)–On May 31, 2019, the Board of Directors for the NorthWest Indiana
Bancorp (the “Bancorp”), the holding company for Peoples Bank, declared
a $0.01 (one cent) per share increase in its quarterly cash dividend
paid to shareholders.
The Bancorp’s new quarterly dividend of $0.31 (thirty-one cents) per
share represents a 3.3% increase over the previous dividend of $0.30
(thirty cents) per share. The dividend will be paid to shareholders of
record as of June 28, 2019, with payment made on July 5, 2019.
“The Board of Directors of the NorthWest Indiana Bancorp and our
subsidiary, Peoples Bank, after reviewing the success of our two
Illinois acquisitions, determined that the Bancorp has sufficient
capital to support a dividend increase as operating results continue to
create capital for future growth strategies. Management’s execution of
our strategic priorities and the performance of the Peoples team allows
the Board to maintain our commitment to reward shareholders for their
investment in the Bancorp,” said David A. Bochnowski, executive chairman.
About NorthWest Indiana Bancorp
NorthWest Indiana Bancorp is a locally managed and independent financial
holding company headquartered in Munster, Indiana, whose activities are
primarily limited to holding the stock of Peoples Bank. Peoples Bank
provides a wide range of personal, business, electronic and wealth
management financial services from its 22 locations in Lake and Porter
Counties in Northwest Indiana and South Suburban Chicagoland. NorthWest
Indiana Bancorp’s common stock is quoted on the OTC Pink Marketplace and
the OTC Bulletin Board under the symbol NWIN. The website
ibankpeoples.com provides information on Peoples Bank’s products and
services, and NorthWest Indiana Bancorp’s investor relations.
Forward Looking Statements
This press release may contain forward-looking statements regarding the
financial performance, business prospects, growth and operating
strategies of NWIN. For these statements, NWIN claims the protections of
the safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Statements in this
communication should be considered in conjunction with the other
information available about NWIN, including the information in the
filings NWIN makes with the SEC. Forward-looking statements provide
current expectations or forecasts of future events and are not
guarantees of future performance. The forward-looking statements are
based on management’s expectations and are subject to a number of risks
and uncertainties. Forward-looking statements are typically identified
by using words such as “anticipate,” “estimate,” “project,” “intend,”
“plan,” “believe,” “will” and similar expressions in connection with any
discussion of future operating or financial performance.
Although management believes that the expectations reflected in such
forward-looking statements are reasonable, actual results may differ
materially from those expressed or implied in such statements. Risks and
uncertainties that could cause actual results to differ materially
include: changes in asset quality and credit risk; the inability to
sustain revenue and earnings growth; changes in interest rates and
capital markets; inflation; customer acceptance of NWIN’s products and
services; customer borrowing, repayment, investment, and deposit
practices; customer disintermediation; the introduction, withdrawal,
success, and timing of business initiatives; competitive conditions; the
inability to realize cost savings or revenues or to implement
integration plans and other consequences associated with mergers,
acquisitions, and divestitures; economic conditions; and the impact,
extent, and timing of technological changes, capital management
activities, and other actions of the Federal Reserve Board and
legislative and regulatory actions and reforms.
Contacts
BENJAMIN BOCHNOWSKI
(219) 853-7575
