Exhibit 99.1

FOR IMMEDIATE RELEASE
February 16, 2010
FOR FURTHER INFORMATION
CONTACT DAVID A. BOCHNOWSKI
(219) 853-7575
 
NORTHWEST INDIANA BANCORP
 
REPORTS FOURTH QUARTER AND ANNUAL RESULTS

Munster, Indiana - NorthWest Indiana Bancorp, the holding company for Peoples Bank, reported net income of $1.1 million for the fourth quarter ended December 31, 2009 and net income of $2.5 million for the twelve months ended December 31, 2009.  At the end of 2009, the Bancorp’s assets totaled $661.8 million.

"The economy ground to a halt in the Great Recession of 2009 as economic activity fell to record proportions not seen for many generations.  While our region and community were not immune from the downturn, and despite the chaos in the national financial markets, the Bank turned a profit again in 2009.  Our reported net income compares favorably to industry results for the year," said David A. Bochnowski, Chairman and Chief Executive Officer.

The fourth quarter 2009 net income of $1.1 million, or $0.40 earnings per basic and diluted share, compares to net income of $1.3 million, or $0.45 earnings per basic and diluted share for the fourth quarter of 2008.  For the current quarter, the return on average assets (ROA) was 0.67% and return on average equity (ROE) was 8.25%.

The 2009 earnings of $2.5 million, or $0.88 earnings per basic and diluted share, compares to earnings of $5.9 million, or $2.11 earnings per basic and $2.10 earnings per diluted share for 2008.  For the current year, the ROA was 0.37% and ROE was 4.55%.

"The Bancorp continues to rely on traditional banking principles to drive earnings.  Our strategic plan calls for strong core income, strong capital, effective risk management, operating efficiency, smart growth, and diversified sources on income from banking operations,” Bochnowski said.

"In 2009 the Bank fully executed on the key elements of our business plan: our tax equivalent net interest margin was a strong 3.97%; the Bancorp and Bank were considered well capitalized as defined by federal regulations; loans were written down with adequate reserves for potential losses; operating costs were stable despite a 253% increase in FDIC deposit insurance premiums; our operations successfully expanded into Porter County; and noninterest income from banking operations rose 23.7%,” he continued.

 
 

The following information was filed by Northwest Indiana Bancorp (NWIN) on Tuesday, February 16, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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