Exterior shot of Three Rivers (3Rivers Federal Credit Union) Decatur branch

Three Rivers opened this branch in mid-May. It was the Fort Wayne-based credit union’s first permanent branch in Decatur.

Fort Wayne-based Three Rivers will celebrate the opening of its first permanent Decatur branch with a ribbon cutting ceremony next month.

The ceremony will take place at 10 a.m. June 20, and the branch plans to host a community event later this summer.

Three Rivers does business under the 3Rivers Federal Credit Union brand. It has been serving Adams County since 1999 and announced last summer plans to start operating an interim branch in August at 1620 Morningstar Blvd., near the site selected for the permanent branch.

After breaking ground on the $1.7 million project last summer, the 2,800-square-foot, freestanding permanent branch opened May 13 at 804 S. 13th St., in the former K-Mart plaza, off U.S. 27.

With three drive-thru lanes and an automatic teller machine built into one of its exterior walls to provide access at all hours, the branch has an open concept with separate rooms for business, mortgage and investment services uses.

All of its artwork was commissioned or bought from Decatur area artists including Brett Fraughlinger, Jovan Mrvos, Laura Rabel, Susan Roe and Hollie Wise.

The credit union partnered with the city of Decatur to support its Hannah Nuttman Park project while construction of the branch was underway.

“We are very excited to see this investment in Adams County come to fruition with the opening of our permanent branch,” Don Cates, 3Rivers CEO and president, said in a statement.

“In the past year, the Decatur community has welcomed us with open arms. We look forward to deepening our involvement and impact in Adams County, both as a community partner and in helping people with their money matters.”

The credit union presented a $10,000 check for the Hannah Nuttman Park community revitalization project to Decatur Mayor Ken Meyer at a May 8 Mersey Beatles fundraising concert.

Nonprofits receive Flagstar checks for $5,000

Flagstar Bank scheduled a May 21 breakfast reception and check presentation at its 111 E. Wayne St. branch in Fort Wayne to award $5,000 checks to 23 nonprofit organizations.

All of the bank’s Fort Wayne region branches nominated up to two nonprofit groups for a $5,000 donation, and in cases where there was a choice, it wanted area residents to select the grant recipient through a vote.

The voting took place in April. Nominees for the grants were selected by regional and local branch managers based on the nonprofit’s alignment with the bank’s giving priorities.

Information on the eligible nonprofits and how they would use the financial support was available within each branch where more heavily-weighted voting took place, or online at the www.flagstarevents.com/community site, which also accommodated voting.

Each ballot cast at a branch equaled two votes for a nominated nonprofit. For online participation, one vote per registered email account per person was allowed.

Information on the winning nonprofit groups is available by entering your state or ZIP code at www.flagstarevents.com/community/#results.

Regional banks on honor roll

Out of about 375 publicly traded banking companies with more than $500 million in assets screened for the Bank Honor Roll published each year by Keefe, Bruyette & Woods, 18 made the prestigious list and three of them are based in Business Weekly‘s reading area.

KBW is an investment banking firm focused on working with financial services companies. The winners reported earnings per share increases consistently during the years since the 2009 financial crisis.

Within Business Weekly’s reading area they included 1st Source Corp., parent company of 1st Source Bank; First Defiance Financial Corp., the parent company of First Federal Bank of the Midwest and First Insurance Group, and Lakeland Financial Corp., the parent company of Lake City Bank.

“We are proud of our long term track record of creating value for our shareholders,” David Findlay, Lakeland’s president and CEO, said in a statement. “Our inclusion in the KBW Bank Honor Roll is a significant affirmation of our performance since it places us among our top-performing peers for the eighth consecutive year.”

“It truly is an honor to be a part of the KBW Bank Honor Roll,” Christopher Murphy III, 1st Source chairman and CEO, said in a separate statement. “For the last 156 years, 1st Source has been built upon strong, steady practices, and our mission has always included keeping our clients’ best interest in mind for the long-term.

“Being named among the 18 institutions in our industry that have proven their strength since such a tumultuous time for our country is a welcome confirmation that we have done just that. And we will continue to do so in the future.”

KBW said institutions on its Bank Honor Roll trade at a premium to their banking peers and have better-than-industry performance ratios and growth rates.

Veteran reporter Doug LeDuc joined Business Weekly in 2006 and primarily covers banking and finance and technology. You can send information for his weekly column to dleduc@kpcmedia.com or call 260-426-2640, ext. 3309.

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