Indiana Banks and Banks and Banking & Finance and First Merchants

Indiana bank cutting 80 workers after merger

October 4, 2013

More than 80 workers at northwestern Indiana's Citizens Financial Bank will be laid off following its takeover by a central Indiana-based bank.

Citizens Financial Bank president Daryl Pomranke said all the layoffs will be of employees in support roles such as operations and technology, while tellers, loan officers and salespeople will keep their jobs.

In all, nearly one-third of the 260 workers at Munster-based Citizens Financial will be laid off.

Muncie-based First Merchants bought Citizens Financial and its 20 branches in northwestern Indiana and Chicago's southern suburbs in May as part of a nearly $115 million deal. The deal made First Merchants the second-largest Indiana-headquartered bank.

Pomranke told The Times of Munster that First Merchants will take over the support functions done by the laid-off workers. The layoffs are to start in December.

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