Centre 1 Bancorp, Inc. Reports Record Earnings for 2017
Release date: 5/10/2018
Beloit, WI – On May 10, 2018, 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 36th for the holding company and the 136th for the family-owned bank, chartered in 1882.
Steven M. Eldred, Chairman and CEO, reported that 2017 earnings goals were achieved and net income increased 16% over 2016, once again exceeding historical levels. The bank’s total risk-based capital ratio of 13.8% continues to exceed regulatory well-capitalized requirements.
In 2017, strong commercial production led to the expansion of the loan portfolio by $35 million. “This is attributed to the strengthening economy, as many of our business customers were spending cash to invest in growth,” said Eldred. “An improving economic environment and a record stock market bolstered the year’s positive results.”
The full 2017 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 with assets of approximately $1.1 billion. 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.