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1895 Bancorp of Wisconsin, Inc. - BCOW STOCK NEWS

Welcome to our dedicated page for 1895 Bancorp of Wisconsin news (Ticker: BCOW), a resource for investors and traders seeking the latest updates and insights on 1895 Bancorp of Wisconsin stock.

1895 Bancorp of Wisconsin, Inc. (NASDAQ: BCOW) is the holding company for PyraMax Bank, FSB, a financial institution that has been serving its community since its formation in 1895. The Company's core business revolves around accepting deposits from the public and investing these funds in a variety of loans, including one-to-four family residential real estate loans, commercial real estate loans, commercial loans, and consumer loans.

In 2023, the Company underwent significant strategic transitions and enhancements. Notably, it welcomed new board members Kristina Hill and Clarence Harris, who bring extensive experience in the financial sector. Hill’s strategic business leadership at IBM and Harris’s comprehensive background in treasury management and community banking are expected to guide the Company towards continued growth and innovation.

One of the pivotal moves in 2023 was the completion of a balance sheet repositioning strategy, aimed at optimizing its investment securities portfolio. In June, the Company sold $21.4 million in lower-yielding U.S. Treasury securities and reinvested the proceeds into higher-yielding U.S. government-sponsored mortgage-backed securities. This move resulted in an improved annualized after-tax earnings estimate of $0.7 million. Similarly, in December, the Company executed another repositioning strategy involving the sale of $28.1 million in lower-yielding investment securities and re-invested into $28.7 million of mortgage-backed securities, which is projected to add $1.0 million in pre-tax earnings annually. These strategies highlight the Company’s commitment to maintaining strong capital levels and enhancing financial returns.

Despite the realized losses during these transactions, the Company expects to recover these within a few years, maintaining a neutral impact on shareholders' equity and book value per share. Its proactive measures ensure that PyraMax Bank remains well-capitalized and well-positioned to manage future balance sheet growth effectively.

1895 Bancorp of Wisconsin, Inc. places a high emphasis on excellence in leadership and governance, as evidenced by its thoughtful board transitions and strategic financial maneuvers. As it continues to evolve, the Company remains dedicated to serving its clients with unparalleled service and driving long-term value for its stakeholders.

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1895 Bancorp of Wisconsin, Inc. (NASDAQ: BCOW) reported a net loss of $55,000 for Q1 2022, a significant decline from a net income of $521,000 in Q1 2021. This loss was attributed to a $1.2 million drop in non-interest income despite a 12.2% rise in net interest income to $3.5 million. Total assets increased to $546.3 million, buoyed by a rise in available-for-sale securities, while total stockholders' equity fell to $85.2 million. The company also saw a decrease in cash and cash equivalents of 24.3% to $50.6 million.

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1895 Bancorp of Wisconsin (NASDAQ: BCOW) reported unaudited financial results for the year ending December 31, 2021, with a net income of $85,000 or $0.01 per diluted share, a significant decline from $1.3 million or $0.28 per share in 2020. The decrease was driven by a $2.5 million drop in noninterest income and a $1.2 million rise in noninterest expenses. However, net interest income increased by $248,000, supported by lower interest expenses. Total assets rose to $539.6 million, with available-for-sale securities increasing 91.5% to $112.4 million.

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1895 Bancorp of Wisconsin reported a net loss of $115,000, or ($0.02) per share, for Q3 2021, a decline from a net income of $412,000 or $0.09 per share in Q3 2020. The loss resulted from a $2.1 million drop in non-interest income, driven by decreased gains in securities and loans due to reduced mortgage activity. Meanwhile, total assets rose by $24.4 million to $541.2 million, and shareholders' equity increased $32.2 million to $92.2 million.

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1895 Bancorp of Wisconsin reported a fiscal Q2 2021 net loss of $51,000 (EPS: ($0.01)), a significant decline from a net income of $194,000 (EPS: $0.04$489,000 drop in non-interest income and a $386,000 rise in expenses, despite a $347,000 increase in net interest income. For the first half of 2021, net income stood at $470,000, down from $481,000 in the previous year. Total assets grew 17.2% to $605.6 million, while total equity rose 0.5% to $60.3 million.

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1895 Bancorp of Wisconsin, Inc. (NASDAQ: BCOW) announced the conclusion of its offering on July 14, 2021, achieving the maximum target of 3,542,000 shares priced at $10.00 each. The conversion process has resulted in an exchange ratio where each share of Old 1895 Bancorp converts to 1.3163 shares of New 1895 Bancorp. Following the closing of trading on July 14, 2021, Old 1895 Bancorp shares will continue to trade under the same symbol on Nasdaq from July 15, 2021.

Investors can verify their allocations online or contact the Stock Information Center for assistance.

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1895 Bancorp of Wisconsin (NASDAQ: BCOW) has received regulatory approval for its transition from a mutual to stock holding company. The closing of the conversion and related subscription offering is set for July 14, 2021. Following this, the new company's stock will begin trading under the same symbol on July 15, 2021. A total of 3,542,000 shares will be sold at $10.00 each, with existing shareholders receiving 1.3163 shares of the new company for each old share. The offering was oversubscribed, leading to allocations for first-tier subscribers only.

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1895 Bancorp of Wisconsin, Inc. (NASDAQ: BCOW) has completed its subscription offering tied to its conversion from a mutual holding company to a fully public stock holding company. The success of this offering means no further community or syndicated offerings are anticipated. The process is now subject to regulatory approvals and requires the consent of the company’s members and stockholders, with special meetings scheduled for June 25, 2021. The company emphasizes that the offering is not a solicitation to buy common stock and shares may lose value.

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1895 Bancorp of Wisconsin (Nasdaq: BCOW) announced the commencement of a stock offering for its proposed successor holding company, New 1895 Bancorp, which aims to convert from a mutual holding company to a stock holding company structure. The company plans to sell up to 3,542,000 shares at a price of $10.00 per share, with a minimum sale requirement of 2,618,000 shares. The offerings will first be available to bank depositors and employee benefit plan participants, with any unsold shares offered to the public, primarily in Wisconsin. Regulatory approvals are required for completion.

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1895 Bancorp of Wisconsin, Inc. (Nasdaq: BCOW) has announced a Plan of Conversion and Reorganization. This plan will transition the current mutual holding company structure into a fully public stock holding company. The MHC will sell its majority ownership through a stock offering, while the Bank will become a wholly owned subsidiary of the new holding company. Shares held by those other than the MHC will convert into shares of the new company. The conversion requires approvals from stockholders, the MHC members, and regulatory bodies.

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1895 Bancorp of Wisconsin (NASDAQ: BCOW) announced the appointment of David R. Ball as President and Chief Operating Officer, effective February 22, 2021. Mr. Ball joins with 30 years of banking experience, previously holding the position of Managing Director of Correspondent Banking at BMO Harris. Richard B. Hurd, the current CEO, expressed confidence in Ball's ability to enhance the management team and drive growth. The release also includes forward-looking statements cautioning investors about risks that could impact the Company’s performance.

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FAQ

What is the current stock price of 1895 Bancorp of Wisconsin (BCOW)?

The current stock price of 1895 Bancorp of Wisconsin (BCOW) is $7.39 as of June 6, 2024.

What is the market cap of 1895 Bancorp of Wisconsin (BCOW)?

The market cap of 1895 Bancorp of Wisconsin (BCOW) is approximately 44.4M.

What is 1895 Bancorp of Wisconsin, Inc.?

1895 Bancorp of Wisconsin, Inc. is the holding company for PyraMax Bank, FSB, primarily involved in accepting deposits and issuing various types of loans.

What types of loans does PyraMax Bank offer?

PyraMax Bank provides one-to-four family residential real estate loans, commercial real estate loans, commercial loans, and consumer loans.

What recent changes have occurred in the board of directors?

Recently, Kristina Hill and Clarence Harris were appointed to the board, bringing extensive experience in the financial sector to the Company.

What is the significance of the balance sheet repositioning strategy?

The strategy involved selling lower-yielding securities and reinvesting in higher-yielding mortgage-backed securities to enhance returns and manage balance sheet growth.

How did the balance sheet repositioning impact financial returns?

The repositioning is expected to result in significant additional annualized earnings, with projected recovery of realized losses within a few years.

What is the impact of the repositioning on shareholders' equity?

The repositioning strategy had a neutral impact on shareholders' equity and the Company's book value per share.

What capital levels does PyraMax Bank maintain?

PyraMax Bank's capital levels remain well in excess of the requirements needed to be categorized as well-capitalized.

Who should I contact for more information about the Company?

For more information, you can contact David R. Ball at (414) 421-8200.

Where can I find the latest news about 1895 Bancorp of Wisconsin, Inc.?

You can find the latest news and updates on financial websites like StockTitan or visit the Company's official newsroom.

What are the future prospects for PyraMax Bank?

The Company is focused on driving sustainable growth, enhancing financial returns, and maintaining strong governance and leadership to ensure long-term success.
1895 Bancorp of Wisconsin, Inc.

Nasdaq:BCOW

BCOW Rankings

BCOW Stock Data

44.36M
5.68M
4.39%
28.88%
0.05%
Banks - Regional
Savings Institutions, Not Federally Chartered
Link
United States of America
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