Spring 2012 - Northwest Indiana Business Quarterly Magazine

NOTEWORTHY NEWS BITS FROM...Around the RegionAlot has happened in theNorthwest Indiana businesscommunity since our lastissue. Here are a few bits of news toget you up to date.BANKINGUnited Federal Credit Union hasacquired Griffith Savings Bank.The St. Joseph, Mich., credit unionsaid the bank will be operated as abranch. United Federal Credit Unionbegan in 1949 as a part of WhirlpoolCorp. … Citizens FinancialBank of Munster has been namedby the Chicago Tribune as a TopWorkplace for 2011. The honor wasbased on an independent surveyof 300 employees on areas such asdirection, conditions, careers, education,management, and pay andbenefits. … Horizon Bancorp,the parent company for HorizonBank of Michigan City, has acquiredHeartland Bancshares Inc., theparent company for HeartlandCommunity Bank in Franklin.Heartland will be merged into Horizon,although it will operate in centralIndiana as Heartland CommunityBank, a Horizon Company. … 1stSource Bank has donated $25,000to the Valparaiso Family YMCAfor its Promises Kept capital campaign.Regional president Bob Axmade the donation on behalf of 1stSource. … Sherry Derosiers hasbeen named a trust administratorin the 1st Source Personal AssetManagement Group in Valparaiso.She has 20 years of experience infinancial services and most recentlywas vice president and executivedirector of St. Mary’s Foundationin Saginaw, Mich. … Nikki Moseleyhas been promoted to managerof the Valparaiso West BankingCenter. She has 12 years of bankingexperience and most recentlywas operations manager of the PortageCentral Banking Center. … 1stSherry DerosiersSource Corp. of South Bend andHorizon Bancorp of MichiganCity have been named to the BankHonor Roll by KBW Inc. for publiclytraded banks with more than$500 million in assets. The honoris based on financial performance.KBW is the parent company for theinvestment bank Keefe, Bruyette &Woods.COMMUNICAtioN/MEdiARadio One Communications hascompleted construction of a 500-footbroadcast tower near Cedar Lake.The project took five years frominception to completion. Radio Oneowns WXRD-FM 103.9 and WZVN-FM 107.1.CONstrUCtioNThe Ross Group of Portage hasbeen named one of the top 10 designand build companies in the UnitedStates by Ceco Building Systemsof Columbus, Miss. The companywas founded in 1994 by Ross Pangere.Among the projects in whichthe company has been involved isthe Monosol building in LaPorte,IN/Tek in New Carlisle, Roundthe Clock Restaurant in Chestertonand the Peoples Bank headquartersin Munster. … SuperiorConstruction Co. Inc. of Gary hasmarked 13 years of safe operationat the BP Whiting Refinery. Thecompany’s employees have workedmore than 15 million hours withouta single lost-time incident. Superiorhas 26 full-time safety professionalson staff. … Chester Inc. Architectural& Construction Services isinvolved with two major projects inNorthwest Indiana. It recently brokeground for a $17 million forgingfacility for Modern Drop Forge Co.in Merrillville, and the 7,000-squarefootGilmer Park Animal Clinic inSouth Bend. … Gariup ConstructionCo. Inc. of Merrillville hasbeen honored by the Indiana Planof Northern Indiana for its efforts tosupport the mission of female andminority hiring.ECONOMIC DEVELOPMENTLorri Feldt has been named regionaldirector of the Northwest IndianaSmall Business DevelopmentCenter. She has more than 25 yearsof business experience, includingat Whirlpool Corp. and at PurdueUniversity North Central. … KevinKieft has been named interim executivedirector of the Michigan CityEconomic Development Corp. Hereplaces John Regetz, who left theMCEDC to take a similar position inPocatello, Idaho. … The PortageEconomic Development Corp.has named Jim Fitzer its interimexecutive director. He recentlyretired from NIPSCO after 38 years.Fitzer will oversee day-to-day operationsof PEDCO along with economicdevelopment activities. …Porter County’s Economic DevelopmentCabinet has announced 11members to the organization. Theyare Doug Olson of SEH; RonaldBelin of Frontier Communications;Stewart McMillan of TaskForce Tips; Heather Ennis ofChesterton Duneland Chamber6 NORTHWEST INDIANA BUSINESS QUARTERLY SpRINg–SUmmER 2012