SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C.  20549

                          _______________________


                                 FORM 8-K

                              CURRENT REPORT
                  PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934


Date of report:  August 18, 1999



                         NORTHWEST INDIANA BANCORP
            (Exact Name of Registrant as Specified in Charter)


      Indiana                 0-26128            35-1927981
  (State or Other
  Jurisdiction of           (Commission        (IRS Employer
   Incorporation)           File Number)    Identification No.)


   9204 Columbia Avenue                          46321
     Munster, Indiana
  (Address of Principal
    Executive Offices)                         (Zip Code)


Registrant's telephone number,
  including area code:  (219) 836-9690


Item 5.     Other Events.

            On  August  18,  1999,  the  Registrant's  Board  of  Directors
authorized a  stock  repurchase program relating to the Registrant's Common
Stock, which is described  in  the following press release which was issued
on August 27, 1999:


       "NORTHWEST INDIANA BANCORP INITIATES STOCK REPURCHASE PROGRAM

          Munster, Indiana -- The  NorthWest  Indiana  Bancorp, the holding
company  for Peoples Bank SB, announced today that the Board  of  Directors
has authorized the repurchase of up to 50,000 shares of the Bancorp's stock
which represents approximately 1.8% of total shares outstanding.

          "Our board believes that at current prices the Bancorp's stock is
a  very  attractive   investment   for  the  corporation,"  said  David  A.
Bochnowski, Chairman and Chief Executive Officer.

          Under the stock repurchase plan NorthWest Indiana Bancorp will be
able  to repurchase shares of its outstanding  common  stock  in  the  open
market  or  in  privately  negotiated  transactions at appropriate times to
allow it to enhance earnings per share and manage its capital.

          The Bancorp's stock was originally  issued at $10.00 per share in
August of 1984 and the current value of that investment  stands  at $172.00
per  share.  The average annual compound rate of return on the stock  since
the public offering fifteen years ago has been 25.4%."


                                SIGNATURES

           Pursuant  to  the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

                                  NORTHWEST INDIANA BANCORP


                                  By  /S/ DAVID A. BOCHNOWSKI
                                     David A. Bochnowski
                                     President and
                                     Chief Executive Officer


Date:  August 27, 1999