Tue, 18 Jun 2019

BELOIT, WI / ACCESSWIRE / May 16, 2019 / Blackhawk Bancorp, Inc. (OTCQX: BHWB) reports that it has re-elected three incumbent directors and one new director at its Annual Meeting of Shareholders held on May 15, 2019. The four directors elected to three-year terms include Thomas L. Barnes, Lucas R. Derry, April R. Glosser, and the new incoming director, Paul L. Palmby. Mr. Palmby is the Executive Vice President and Chief Operating Officer of Seneca Foods, a publicly traded Food Procurement and Processing Company based in Janesville, Wisconsin. Seneca has $1.3 billion in annual sales and operates twenty-four manufacturing facilities located across the United States. 'We are truly excited that Paul is joining our board,' said Todd James, Chairman and CEO. 'He brings a wealth of knowledge, including merger and acquisition expertise and public company corporate governance practices. His extensive background in manufacturing and food processing also adds additional depth to our board as it relates our existing portfolio and growth opportunities in those sectors,' added James.

Mr. Palmby is filling the board seat that that was most recently held by Prudence A. Harker, whose retirement was effective upon the election of her successor. In announcing her retirement, James joined the entire board of directors in thanking Prudence for her many years of dedicated service on the board. 'Ms. Harker started her board tenure in 2002 and the Company has benefited greatly from both her keen business acumen and devoted commitment to corporate governance, which includes the leadership she provided as chair of the audit committee for a number of years,' concluded James.

About Blackhawk Bancorp, Inc.

Blackhawk Bancorp, Inc. is headquartered in Beloit, Wisconsin and is the parent company of Blackhawk Bank and First National Bank of McHenry. 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.

CONTACT:

Blackhawk Bancorp, Inc.

Todd J. James, Chairman & CEO
tjames@blackhawkbank.com

Mary King McGovern, SVP & CFO
mmcgovern@blackhawkbank.com

Phone: (608) 364-8911

SOURCE: Blackhawk Bancorp, Inc.



View source version on accesswire.com:
https://www.accesswire.com/545690/Blackhawk-Bancorp-Inc-Elects-Directors-and-Announces-Retirement

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