Blackhawk Bancorp, Inc. Declares 75th Consecutive Dividend

BELOIT, Wis., Dec. 3 /PRNewswire-FirstCall/ -- The Board of Directors of Blackhawk Bancorp, Inc. (OTC Bulletin Board: BHWB) has declared the Company's 75th consecutive quarterly cash dividend. Shareholders of record on December 19, 2008 will be paid a dividend of $0.09 per share on January 5, 2009. This amounts to 36 cents per share on an annualized basis, representing a yield of approximately 3.6% on the stock's recent trading price. The announcement was made today by Blackhawk's President and Chief Executive Officer, R. Richard Bastian, III.

Blackhawk Bancorp, Inc., with total assets of approximately $486,300,000, is the parent company of Blackhawk State Bank, which operates eight banking centers in south central Wisconsin and north central Illinois. The stock of Blackhawk Bancorp, Inc. is traded Over the Counter under the symbol BHWB.

When used in this communication, the words "believe," "expect," "anticipate," "plan," "estimate," "may," "will" or similar expressions are intended to identify forward-looking statements. The Company's actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions; success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which Blackhawk or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of "critical accounting policies"; and the inability of third party vendors to perform critical services for the company or its customers.

SOURCE Blackhawk Bancorp, Inc.