Blackhawk Hires Investment Banker

BELOIT, Wis., May 2, 2012 /PRNewswire/ -- Blackhawk Bancorp, Inc.  (OTCBB: BHWB) parent of Beloit based Blackhawk Bank, announced that it has retained River Branch Capital LLC as a strategic financial advisor for capital raising advice and execution.  Headquartered in Chicago, River Branch Capital is an investment bank with extensive experience in the financial services industry including merger and acquisition advisory services.  It is a wholly-owned subsidiary of River Branch Holdings LLC, an international merchant bank.

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"We are delighted to partner with River Branch as we position Blackhawk to take advantage of tremendous organic growth opportunities and the expected consolidation of our industry," said R. Richard Bastian, III, president and chief executive officer of Blackhawk.  "We are committed to keeping Blackhawk strong and provide increased value and liquidity to our shareholders over time," he added.

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 Beloit, 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.

Forward-Looking Statements

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"; 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.

SOURCE Blackhawk Bancorp, Inc.



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