BELOIT, Wis., May 23, 2017 /PRNewswire/ -- Blackhawk Bancorp, Inc.(OTCQX: BHWB) reports that it has re-elected three incumbent directors at its Annual Meeting of Shareholders held on May 17, 2017. The three directors elected to three-year terms include Rick Bastian, the Company's Chairman and Chief Executive officer, Eric Anderberg and Steve Ceroni. James Metz, who had been a director since 2004, retired at the end of his term, which expired as of the annual meeting date, and did not stand for re-election.
Separately, the Board of Directors declared a cash dividend on the Company's common stock, increasing it by 100% compared to the most recent quarterly dividend paid. Shareholders of record on June 9, 2017 will receive a dividend of $0.08 per share on June 23, 2017. The dividend amounts to $0.32 per share on an annualized basis and is the thirteenth consecutive quarterly dividend declared by the company.
About Blackhawk Bancorp
Blackhawk Bancorp, Inc. is headquartered in Beloit, Wisconsin and is the parent company of Blackhawk Bank, which operates eight banking centers in south central Wisconsin and north central Illinois, along the I-90 corridor from Belvidere, Illinois to Janesville, Wisconsin. Blackhawk's locations serve individuals and small businesses, primarily with fewer than 200 employees. The company offers a variety of value-added consultative services to small businesses and their employees related to its banking products such as health savings accounts and investment management.
When used in this communication, the words "believes," "expects," and 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"; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the company or its customers.
Further information is available on the Company's website at www.blackhawkbank.com.
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SOURCE Blackhawk Bancorp, Inc.