Region-News-Team-Black-Logo

Peoples Bank to Acquire First Federal Savings Loan

Share this post

Munster-based Peoples Bank has signed an agreement to acquire First Federal Savings and Loan Association of Hammond. First Federal is headquartered on Rimbach Street in downtown Hammond and has a branch on Cline Avenue in Highland. NorthWest Indiana Bancorp, the holding company for Peoples, says Peoples will acquire the assets and liabilities of First Federal in a voluntary merger, pending regulatory approval.
“Peoples Bank is taking a significant step in expanding our community banking franchise and furthering our strategic goals through consolidation,” said David A. Bochnowski, chairman and chief executive officer of Peoples and the Bancorp. “The merging of our two organizations offers opportunities to create operating, investment and managerial synergies while offering First Federal customers a broader menu of traditional and electronic banking products to meet their needs now and in the future,” he added.
John Freyek, president and chief executive officer of First Federal, views the merger as the means to bring together two community banks that share a similar history of local decisionmaking, great customer service and commitment to the communities they serve. “Our goal this past year has been to explore possible relationships that would be meaningful to our customers, employees and the community,” said Freyek. “We’re excited to partner with Peoples and provide our customers access to a full range of deposit, lending and wealth management product and service options while preserving our community banking roots.”
Banner


Meet-The-Team

Laura-WZVN Scott-WZVN Brent-WZVN
LAURA WALUSZKO
Region News Team
SCOTT ROSENBERG
Region News Team
BRENT BROWN
Region News Team
Jay-WZVN Karl-WZVN Annie-WZVN
JAY STEVENS
Region News Team
KARL BERNER
Region News Team
ANNIE FOX
Region News Team

Recent-Newscast

Flash is not supported on this device. If you wish to listen to this audio, you must download and play an mp3 using an mp3 player on your device. CLICK HERE