Centre 1 Bancorp, Inc. Reports Record Earnings For 2016
Release date: 4/24/2017
Beloit, WI – On April 21, 2017, 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 35th for the holding company and the 135th for the family-owned bank, chartered in 1882.
Steven M. Eldred, Chairman and CEO, reported that 2016 earnings goals were achieved and net income increased 12% over 2015, once again exceeding historical levels. The bank’s capital ratios of 15.2% continues to exceed regulatory well-capitalized requirements.
The most significant accomplishment for 2016 was the acquisition and conversion of Walworth State Bank. The merger was announced in late 2015 and the transition completed in 2016. This transaction was the largest in FNBT’s history, increasing the bank’s asset size to $1.2 billion, and expanding the bank’s customer base to more than 30,000 households and the branch network to 16 branches. FNBT’s asset size at the end of the year was $1.2 billion.
The full 2016 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 30,000 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.