Blackhawk Bancorp, Inc. Elects Directors and Announces Director Retirements

Rhea-AI Summary

Blackhawk Bancorp, Inc. (OTCQX:BHWB) has announced the election of two incumbent directors and one new director, Bruce E. Ware, at its Annual Meeting of Shareholders on May 19, 2021. Ware, Vice President of DaVita Inc., brings significant capital markets experience. Todd James, Chairman and CEO, expressed confidence in Ware's contributions to the board. Meanwhile, directors Stephen Carter and Diane Hendricks retired from their positions after completing their terms. Blackhawk Bancorp operates multiple banking centers across Wisconsin and Illinois, providing value-added financial services.

Positive

• Election of Bruce E. Ware to the Board, enhancing capital markets expertise.
• Continuity with the re-election of incumbent directors.
• Strong leadership from Todd James, contributing to board confidence.

Negative

• None.

BELOIT, WI / ACCESSWIRE / May 25, 2021 / Blackhawk Bancorp, Inc. (OTCQX:BHWB) reports that it has elected two incumbent directors and one new director at its Annual Meeting of Shareholders held on May 19, 2021. The three directors elected to three-year terms include David K. Adkins, Todd M. Buehl, and the new incoming director, Bruce E. Ware, Vice President of DaVita Inc. DaVita is a Fortune 500 Company with over $11.0 billion in revenues focused on healthcare services in the kidney care space. Mr. Ware holds an MBA from Harvard Business School and a Master's degree in Public Affairs from the LBJ School at the University of Texas at Austin. He earned a BBA in Banking and Finance from the University of Mississippi. "We are fortunate that Bruce is joining our Board," said Todd James, Chairman and CEO. "He brings a strong capital markets background, including the development of DaVita's joint venture financing program, where he has fostered a ten-year relationship with Blackhawk," added James.

The Company also announced that Stephen Carter and Diane Hendricks have both retired from the Company's Board of Directors as their terms expired as of the Annual Shareholder Meeting. Mr. James joined the entire Board of Directors in thanking Mr. Carter and Ms. Hendricks for their many years of dedicated service on the Board. "The Company has benefited greatly from both Steve's and Diane's business insight and guidance, and they will truly be missed," concluded James.

About Blackhawk Bancorp
Blackhawk Bancorp, Inc. is headquartered in Beloit, Wisconsin and is the parent company of Blackhawk Bank. The combined entity operates eleven full-service banking centers and a dedicated commercial office, which are located in Rock County, Wisconsin and the Illinois counties of Winnebago, Boone, McHenry, Lake, and Kane. The Company's footprint stretches along the I-90 corridor from Janesville, Wisconsin to Elgin, Illinois and into the Northwest collar counties of the Chicagoland area. The company offers a variety of value-added consultative services to its business customers and their employees related to the financial products it provides.

Forward-Looking Statements
When used in this communication, the words "believes," "expects," "likely", "would", 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 particularly in the Company's markets; potential deterioration in real estate values, 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. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

Further information is available on the company's website at www.blackhawkbank.com.

Blackhawk Bancorp, Inc.

Todd J. James, Chairman & CEO
tjames@blackhawkbank.com
Phone: (608) 364-8911

Matthew McDonnell, SVP & CFO
mmcdonnell@blackhawkbank.com

SOURCE: Blackhawk Bancorp, Inc.

View source version on accesswire.com:
https://www.accesswire.com/649077/Blackhawk-Bancorp-Inc-Elects-Directors-and-Announces-Director-Retirements

FAQ

Who was elected to the Blackhawk Bancorp board on May 19, 2021?

Bruce E. Ware was elected as a new director, alongside incumbents David K. Adkins and Todd M. Buehl.

What experience does Bruce E. Ware bring to Blackhawk Bancorp?

Bruce E. Ware has a background in capital markets and is currently Vice President at DaVita Inc.

Who retired from Blackhawk Bancorp's board in 2021?

Stephen Carter and Diane Hendricks retired as their terms expired as of the Annual Shareholder Meeting.

What is the stock symbol for Blackhawk Bancorp?

The stock symbol for Blackhawk Bancorp is BHWB.