CONTACT:
Thomas J. Wilkinson, Chairman and CEO
(608) 203-1201 or twilkinson@thewcb.com
MADISON, Wis. – Wisconsin Community Bank today reported net income of $2.2 million for the quarter ended September 30, 2010, compared to net income of $1.2 million for the same period last year.
“Our bank continues to produce strong earnings in the current fragile economic environment,” said Thomas J. Wilkinson, Chairman and Chief Executive Officer. “Our team remains focused on producing strong results for our shareholders.”
For the first nine months of 2010, Wisconsin Community Bank’s earnings were $5.8 million compared to $3.7 million for the first nine months of 2009, an increase of 58 percent. Return on average common equity was 16.50 percent and return on average assets was 1.85 percent for the quarter, compared to 9.86 percent and 1.09 percent, respectively, for the same quarter in 2009.
As of September 30, 2010, the bank had total assets of $462 million compared to assets of $434 million as of September 30, 2009. Also as of September 30, loans totaled $326 million compared to $290 million one year ago. Total deposits were $364 million compared to $338 million the previous year.
“We continue to be cautiously optimistic about the Wisconsin economy,” Wilkinson said. “Our lenders are winning new business and we believe the opportunities for future growth are excellent.”
Wisconsin Community Bank operates seven offices throughout the state. Visit http://www.thewcb.com to learn more.
About Wisconsin Community Bank
Wisconsin Community Bank, a member of Heartland Financial USA, Inc., has assets of$462 million. The bank operates offices in Fitchburg, Cottage Grove, Madison, Middleton, and Monroe. With headquarters at 8240 Mineral Point Road, Madison, Wis., Wisconsin Community Bank offers a unique composition of credit and deposit services. The bank is a member of FDIC and an Equal Housing Lender. Visit http://www.thewcb.com or call (608) 203-1200 to learn more.
