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Northwest Indiana

 
MarketWatch Profile: Northwest Ind Bancorp
(OTC: NWIN)
Contact Information
Northwest Ind Bancorp
9204 Columbia Avenue
n/a
Munster, IN 46321
UNITED STATES
Tel. (219) 836-4400
Fax. (219) 836-8269

Industry: Banks
On the web: http://www.peoplesbanksb.com
Employees: 163

Northwest Indiana Bancorp, an Indiana corporation the Bancorp, was incorporated on January 31, 1994, and is the holding company for Peoples Bank SB, an Indiana savings bank the Bank. The Bank is a wholly owned subsidiary of the Bancorp. The Bank is engaged in the business of attracting deposits from the general public and the origination of loans, mostly upon the security of single family residences and commercial real estate, as well as, construction loans and various types of consumer loans and commercial business loans. In addition, the Bancorp's Wealth Management Group provides estate and retirement planning, guardianships, land trusts, profit sharing and 401(k) retirement plans, IRA and Keogh accounts, investment agency accounts, and serves as the personal representative of estates and acts as trustee for revocable and irrevocable trusts. The lending activity of the Bancorp has been the granting of conventional mortgage loans to enable borrowers to purchase existing homes, refinance existing homes, or construct new homes. Construction loans on residential properties are made mainly to individuals and contractors who are under contract with individual purchasers. Residential construction loans are typically made for periods of six months to one year. Loans are also made for the construction of commercial properties. All such loans are made in accordance with well-defined underwriting standards. Commercial real estate loans are typically made to a maximum of 80% of the appraised value. Such loans are generally made on an adjustable rate basis. These loans are typically made for terms of 15 to 20 years. Loans with an amortizing term exceeding 15 years normally have a balloon feature calling for a full repayment within seven to ten years from the date of the loan. The balloon feature affords the Bancorp the opportunity to restructure the loan if economic conditions so warrant. Commercial real estate loans include loans secured by commercial rental units, apartments, condominium developments, small shopping centers owner occupied commercial/industrial properties, and other retail and commercial developments. The Bancorp offers consumer loans to individuals for most personal, household or family purposes. Consumer loans are either secured by adequate collateral, or unsecured. Unsecured loans are based on the strength of the applicant's financial condition. The Bancorp offers a fixed and variable rate revolving line of credit secured by the equity in the borrower's home. Both products offer an interest only option where the borrower pays interest only on the outstanding balance each month. Equity lines will typically require a second mortgage appraisal and a second mortgage lenders title insurance policy. Although the Bancorp's priority in extending various types of commercial business loans changes from time to time, the basic considerations in determining the makeup of the commercial business loan portfolio are economic factors, regulatory requirements and money market conditions. The Bancorp faces strong competition in its main market area for the attraction and retention of deposits and in the origination of loans. The Bancorp's most direct competition for deposits has historically come from commercial banks, savings associations and credit unions located in its main market area. The Bancorp competes for loans through the interest rates and loan fees it charges. As a registered bank holding company for the Bank, the Bancorp is subject to the regulation and supervision of the FRB under the Bank Holding Company Act of 1956.
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Wikipedia: Northwest Indiana
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Northwest Indiana
Map of Northwest Indiana

Common name: The Region
Largest city
Other cities
Gary
 - Hammond
 - Michigan City
 - Portage
 - Valparaiso
Counties   - Jasper
 - Lake
 - LaPorte
 - Newton
 - Porter

Northwest Indiana, also known as the South Shore, The Calumet Region,and The Region, comprises Lake, Porter, LaPorte, Newton, and Jasper counties in Indiana. This region neighbors Lake Michigan, and is part of the Chicago metropolitan area. Northwest Indiana communities are bedroom communities to the Chicago metropolitan region. Northwest Indiana consists of cities such as Crown Point,Dyer,East Chicago, Gary,Hammond, Hobart, Michigan City,Portage, Valparaiso.

Contents

Overview

The counties of Lake, Porter, LaPorte, Jasper, and Newton are included in the Chicago-Naperville-Michigan City Combined Statistical Area, the broadest of the census defined Metropolitan definitions. Unlike the majority of Indiana, which operates on Eastern Standard Time, these five counties are among six in Northwestern Indiana that are in the Central Time Zone, the other being Starke. This reflects their close economic integration in the Chicago metropolitan area. This area of Indiana, along with the Illinois counties of Cook (southern), Will, Kankakee, and Iroquois, are often referred to as Illiana (pronounced "Il-ee-AN-a") by local media.

Three counties- Lake, Porter, and LaPorte- are served by the Northwestern Indiana Regional Planning Commission [1], an organization that coordinates economic and infrastructure development.

Geography

The Long Stairs up the dune at West Beach on the Succession Trail

The Lake Michigan shore is a major attraction. Indiana Dunes National Lakeshore, which stretches from Gary to Michigan City, is a well-preserved stretch of sand dunes, beaches, grasslands, and forests, as well as several historical homes and buildings.

Other prominent geographical features of Northwest Indiana include the Valparaiso Moraine, Tinley Moraine, Calumet Shoreline, Glenwood Shoreline, and the Kankakee River and Kankakee Outwash Plain.

Chicago Lake Plain

The Chicago Lake Plain covers the northern quarter of Northwest Indiana. Initially, the plain was flat, composed of glacio-lacustrine deposits. These formed under the waters of glacial Lake Michigan. The lake formed from the melting glaciers north of the Valparaiso Moraine. Eventually the lake topped a low spot on the moraine. This lowered the lake level to current day Lake Michigan levels (Horsley, 1986).[2] Along the Lake Michigan shoreline, the prevailing winds have built a series of dune ridges, breaking up the original flat surface of the Lake Plain.

Wheaton Morainal Plain

Physiography of the Upper Illinois River Basin

South of the Chicago Lake Plain is the Wheaton Morainal Plain. The Wheaton Morainal Plain follows the Valparaiso Moraine in a sweeping arc, paralleling the Lake Michigan Shoreline. The plain consist of rolling Wisconsinan-age moraines. The Morainal Plain is clayey till, and sandy and loamy till, with areas of sand and gravel. Other deposits include lake clay, silt, and alluvium. Deposits are between 50 and 200 ft thick, with many southern areas have over 200 ft of till. (Mades, 1987). [2]

Kankakee Till Plain

The Kankakee Till Plain is an outwash plain formed by the variable gradient, variable volume, and variable velocity of glacial floods (Mickelson and others, 1984). Deposits are predominately sand and gravel, but also include alluvium and fill materials. Deposits average less than 200 ft thick; in the lowlands they can be less than 50 ft thick, while in the upland they can be more than 200 ft thick. Local elevation changes are less than 100 ft. [2]

Bloomington Ridged Plain

The Bloomington Ridged Plain covers only the most southern part of Northwest Indiana in the valley of the Iroquois River. This area consists of low and rolling hills, i.e., moraines with less than 300 ft changes in elevation. The soils are loamy till, lake clay and silt. Unlike the northern half of Northwest Indiana, the Huron-Erie glacial lobe left these deposits in it northeastward retreat. Deposits are less than 200 ft thick; with some of more than 400 feet thick. [2]

Steuben Morainal Lake Area

The Steuben Morainal Lake Area is also the remains of the Saginaw glacial lob and covers only the eastern-most part of the Northwest Indiana. The area includes knob and kettles. ‘Knobs are formed when a melting glacier deposits hills of sand and gravel into a depression left by the ice. Kettles are formed when ice blocks from a glacier melt in depressions left by the ice.’ Many of the kames and peat bogs throughout this area are formed in these Kettles. Deposits are loamy till of more 200 ft thick. Variation in elevation is less than 110 feet. (Schneider, 1966). [2]

Economy

The northern portion of Northwest Indiana is noted for its heavy industry. Gary, Portage, Burns Harbor and East Chicago are home to major steel mills, including the largest North American facilities for both U.S. Steel (Gary Works) and Arcelor Mittal (Indiana Harbor). Whiting is home to the largest oil refinery in the Midwestern U.S., operated by BP. Other industrial outputs include fabricated metals, transportation equipment, and food products.

Since the 1990s, casino gambling has become a significant component of Northwest Indiana's economy. Four casino boats, with approximately 7,000 slots and 200 table games, are located along Lake Michigan in Lake County. An additional 1,724 slots and forty nine table games are in Michigan City.

Indiana Governor Mitch Daniels and the Indiana State Legislature formed the entity known as the Northwest Indiana Regional Development Authority (RDA) in 2006.[3] The RDA is vested with both authority and tax dollars to invest in transportation and economic development in Northwest Indiana.

A number of Northwest Indiana's suburban towns and cities serve as bedroom communities for Chicago. Retail trade, health care and other service industries represent the dominant economic activities in these areas.

Education

Various colleges and universities are located in Northwest Indiana: Calumet College of St. Joseph in Whiting, Indiana University Northwest (IUN) in Gary, Purdue University Calumet in Hammond, and Purdue University North Central in Westville and Valparaiso University in Valparaiso (the largest private Lutheran University in the United States), . Along with several smaller colleges and universities in Northwest Indiana, these institutions offer a variety of degree programs in areas including business administration, engineering and engineering technology, law, education, computing and information technology, and the liberal arts. Additionally, Northwest Indiana is proximate to numerous other universities elsewhere in Indiana and in the Chicago metropolitan area.

Counties

Census Bureau population statistics

Census Area 2000 Census 1990 Census 1980 Census 1970 Census 1960 Census 1950 Census
Jasper County, Indiana 30,043 24,960 26,138 20,429 18,842 17,031
Lake County, Indiana 484,564 475,594 522,965 546,253 513,269 368,152
LaPorte County, Indiana 110,106 107,066 108,632 105,342 95,111 76,808
Newton County, Indiana 14,566 13,551 14,844 11,606 11,502 11,006
Porter County, Indiana 146,798 128,932 119,816 87,114 60,279 40,076

Transportation

Major airports

Commuter rail

South Shore Train at Dunes Park

*South Shore Line connecting Chicago to South Bend, Indiana, passing through Gary and Michigan City

Highways

Area codes

Local media

Print

Broadcast

Northwest Indiana natives

Parks and Nature Areas

References

  1. ^ Welcome to the NIRPC Home Page
  2. ^ a b c d e Environmental Setting of the Upper Illinois River Basin and Implications for Water Quality Water-Resources Investigations Report 98–4268; Terri L. Arnold, Daniel J. Sullivan, Mitchell A. Harris, Faith A. Fitzpatrick, Barbara C. Scudder, Peter M. Ruhl, Dorothea W. Hanchar, and Jana S. Stewart; U.S. Geologic Survey, Department of the Interior; Urbana, Illinois; 1999; pg 11
  3. ^ RDA: Home
  4. ^ a b c d Indiana Atlas and Gazetter; DeLorme, Yarmouth, Vermont

External links


 
 
Learn More
Calumet (industrial region of northeast Illinois)
Hammond (city of northwest Indiana on the Illinois border)
Gary (city of northwest Indiana on Lake Michigan)

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