Open since June, the Valparaiso branch of People’s Bank been successful thus far, prompting plans for a second location to be built in the near future.
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By Nicholas Serrano
In a time of businesses merging, small stores closing to make room for large box-store chains and corporations, one bank has managed to stay in business without sacrificing its small-town ways. People’s Bank, headquartered in Munster has remained loyal to its customers over the years, and is proudly celebrating its 100th anniversary in the banking industry.
Since 1981, David A. Bochnowski has been chairman and chief executive officer of People’s bank. In the 29 years since he began working at the bank, the changes he’s seen in personal and business banking methods have changed drastically, but they pale in comparison to the changes of the last 100 years. Some of the changes he’s seen in his time at People’s Bank include the customer’s ability to access accounts electronically from virtually anywhere versus physically coming into the banks to do business. Being strong in both of these areas is one of the virtues that have allowed the bank to remain open all these years, Bochnowski said.
“We want to be there when the community needs us the most and to help it grow.” – David Bochnowski, Chief Executive Officer of People’s Bank
“When you’ve been around for 100 years, that’s a long time. It means you’ve remained relevant to your customers and you manage business to handle both the booms and the busts of the economy,” Bochnowski said. “In the last 100 years, there have been 19 recessions and one depression. At the same time 19 recovers, we’re bout to see the 20th so we know there’s an ebb and flow to how the economy works. We want to be there for all those times and we want to be there when the community needs us the most and to help it grow.”
In addition to celebrating 100 years of being in business, People’s Bank has been recognized by trade publication U.S. Banker magazine as one of the top 200 community banks in the nation for performance. It is the fifth year in a row People’s Bank has been honored by the magazine. The ranking is based on small banks with assets of less than $2 billion and their three-year average return on equity. Essentially, it’s a measurement of relatively small bank’s ability to make a profit and how effectively funds are being utilized during a given period of time. It also means paying attention to what customer’s want and being able to deliver.
“Our focus, of course, is keeping up with customer wants and customers want strong service. They come here for the service orientation. We offer services that resonate with our customers. We keep them satisfied and this keeps us in good standing with the community,” Bochnowski said. “We’re very proud to be identified with a very prestigious trade magazine. It’s a result of having a team that is totally dedicated to providing good service to customers and the community.”
People’s Banks is a familiar site around northwest Indiana, with 11 locations in Porter and Lake County. It most recently opened a branch in Valparaiso in June. This branch has done very well, according to Bochnowski, and by the beginning of December it had already recorded $9 million worth of deposits. He also said People’s Bank is planning on opening another bank in St. John in September and plans to open a second Valparaiso location are on the radar screen.
People’s Bank’s corporate office is located at 9204 Columbia Avenue in Munster. To reach the bank by phone, call (219) PEOPLES (736-7537) or visit www.ibankpeoples.com.
