NorthWest Indiana Bancorp, the parent company of Peoples Bank, reported a record profit of $16.6 million last year, growing net earnings and assets as a result of a booming mortgage business and an influx of Paycheck Protection Program loans. The Munster-based bank, which has swollen in size as the result of recent acquisitions in Illinois, grew its profits by 37.3%, or $4.5 million, year-over-year. It made $4.80 in net earnings year-over-year. Peoples Bank delivered a 1.16% return on average assets and a 11.51% return on average equity last year. â2020 started with strong tailwinds that quickly turned to headwinds in the wake of COVID-19. As our team adjusted to new operating conditions during a time of extreme economic stress, we were able to meet customer demand and continue to create value for our shareholders by effectively capitalizing on opportunities in the local market. Peoples Bank had a record year for earnings, and at the same time was able to build capital for future growth and reserves to address any continued economic stress,â President and CEO Benjamin Bochnowski said.