BELOIT, Wis.--(BUSINESS WIRE)--Blackhawk Bancorp, Inc. announced that R. Richard Bastian, President and Chief Executive Officer, has been given additional responsibilities as the Chairman of the Board of both the Company and its subsidiary, Blackhawk Bank. David Adkins, Executive Vice President, has been promoted to Chief Operating Officer. Todd James remains Executive Vice President and Chief Financial Officer. Bastian, Adkins and James will be the executive officers of Blackhawk Bancorp.
“With the Great Recession behind us, these changes will allow Blackhawk to focus on opportunities for organic growth and growth through merger or acquisition while we continue our commitment to improving the profitability and performance of Blackhawk Bank,” said Bastian. “Todd and Dave are part of an outstanding management team that has done a great job guiding both the bank and its clients through challenging times,” he continued.
Adkins joined the bank in 2004 as Senior Vice President, Mortgage Lending with over 31 years of banking experience. He most recently served as Executive Vice President of Consumer Banking. Adkins is a graduate of Illinois Wesleyan University and the Graduate School of Banking. James, a CPA, joined the Company as Senior Vice President and Chief Financial Officer in 2002 and is a graduate of Truman State University and the Graduate School of Banking.
About Blackhawk Bancorp
Blackhawk Bancorp, Inc. is headquartered in Beloit, Wisconsin and is the parent company of Blackhawk Bank, which operates eight banking centers in south central Wisconsin and north central Illinois, along the I-90 corridor from Belvidere, Illinois to Beloit, Wisconsin. Blackhawk’s locations serve individuals and small businesses, primarily with fewer than 200 employees. The Company offers a variety of value-added consultative services to small businesses and their employees related to its banking products such as health savings accounts and investment management.
When used in this communication, the words “believes,” “expects,” 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; 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”; and the inability of third party vendors to perform critical services for the Company or its customers.
Further information is available on the Company’s website at www.blackhawkbank.com.