1895 BANCORP OF WISCONSIN, INC. ANNOUNCES BALANCE SHEET REPOSITIONING
- Repositioning expected to result in $0.7M additional after-tax earnings annually
- Repositioning projected to be accretive to earnings, net interest margin, and return on assets
- Sale of lower-yielding U.S. Treasury securities resulted in $1.4M loss
The Company executed the sale of
The loss on the sale of securities has a neutral impact on shareholders' equity and the Company's book value per share. Upon execution of the repositioning strategy, PyraMax Bank's capital levels remain well in excess of those required to be categorized as well-capitalized. This repositioning is projected to be accretive to earnings, net interest margin and return on assets in future periods, and to provide the Company with greater flexibility in managing balance sheet growth.
Forward Looking Statements
Certain statements herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "believes," "will," "expects," "project," "may," "could," "developments," "strategic," "launching," "opportunities," "anticipates," "estimates," "intends," "plans," "targets" and similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, general economic conditions, changes in interest rates, regulatory considerations, and competition and the other risks described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, the Company's actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any of these statements in light of new information, future events or otherwise unless required under federal securities laws.
Contact: David R. Ball
Telephone: (414) 421-8200
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SOURCE PyraMax Bank / 1895 Bancorp of Wisconsin Inc.