Centre 1 Bancorp, Inc. Reports Record Earnings for 2015
Release date: 4/22/2016
Beloit, WI – On April 22, 2016, the Annual Meeting of shareholders of Centre 1 Bancorp, Inc. the holding company for First National Bank and Trust Company, was held in Beloit, Wisconsin. The meeting was the 34th for the holding company and the 134th for the family-owned bank, chartered in 1882.
Steven M. Eldred, Chairman and CEO, reported that 2015 earnings goals were achieved and net income was up 3.8% over 2014, once again exceeding historical levels. The bank’s capital ratios also improved to 16.29%, continuing a trend to exceed regulatory well-capitalized requirements. The bank’s asset size at the end of the year was $881 million.
The most significant accomplishment for the bank in 2015 was entering into an agreement to acquire Walworth State Bank, headquartered in Walworth, Wisconsin with branches in Delavan, Elkhorn and Williams Bay. The acquisition, the largest in FNBT’s history, was finalized in early 2016 bringing the total assets of the bank to approximately $1.1 billion.
The full 2015 annual report can be obtained at www.bankatfirstnational.com/about-us.
Centre 1 Bancorp, Inc. is the holding company of First National Bank and Trust Company. First National Bank and Trust Company is a family-owned, community bank headquartered in Beloit, Wisconsin. Chartered in 1882, First National Bank and Trust Company now serves more than 27,000 households in 13 communities and 16 locations in Southern Wisconsin and Northern Illinois. Commitment to full service banking, investments, wealth management, mortgage lending, exceptional service, and Sound Advice has positioned First National Bank and Trust Company as a Stateline leader in the industry. For additional information, visit www.bankatfirstnational.com.