Welcome to our dedicated page for 1895 Bancorp Of Wis news (Ticker: BCOW), a resource for investors and traders seeking the latest updates and insights on 1895 Bancorp Of Wis stock.
News for 1895 Bancorp of Wisconsin, Inc. (BCOW) centers on its role as the savings and loan holding company for PyraMax Bank, FSB, a federally chartered savings bank headquartered in Greenfield, Wisconsin. Company releases describe PyraMax Bank as operating in the Milwaukee, Wisconsin market since 1895, with full-service banking offices in Milwaukee, Waukesha and Ozaukee counties. The news flow provides insight into how this regional commercial banking organization manages its balance sheet, capital and leadership.
Recent announcements include the engagement of Keefe, Bruyette & Woods, Inc., a Stifel Company, as financial advisor to assist 1895 Bancorp of Wisconsin, Inc. in evaluating strategic alternatives. The company has stated that this review could involve consideration of a strategic business combination or sale of control, although no specific timeline or outcome has been determined. In the same communication, the company outlined plans for a voluntary delisting of its common stock from the Nasdaq Stock Market and deregistration under the Securities Exchange Act of 1934, with an expectation that its shares will be quoted on the OTCQX Market under the symbol BCOW.
Other news items highlight balance sheet repositioning strategies, where the company sold lower-yielding investment and U.S. Treasury securities classified as available-for-sale and redeployed proceeds into U.S. government sponsored mortgage-backed securities. These updates discuss expected effects on net interest income, net interest margin, return on assets and capital levels at PyraMax Bank. Additional releases cover stock repurchase authorizations, quarterly and interim financial results, and changes in the board of directors and executive leadership team.
Investors and observers can use the BCOW news feed to follow developments related to strategic reviews, trading venue changes, capital actions, financial performance and governance at 1895 Bancorp of Wisconsin, Inc. and its banking subsidiary.
1895 Bancorp of Wisconsin (BCOW), PyraMax Bank's holding company, announced two significant developments: the engagement of Keefe, Bruyette & Woods (KBW) as financial advisor to explore strategic alternatives, and plans to voluntarily delist from Nasdaq and deregister with the SEC.
The strategic review with KBW could include consideration of a business combination or sale of control, though no timeline has been established. The company will delist from Nasdaq on March 7, 2025, with its last trading day on the same date. Trading is expected to continue on the OTCQX Market from March 10, 2025, maintaining the 'BCOW' symbol.
Following SEC deregistration on March 17, 2025, BCOW will no longer file periodic reports (10-K, 10-Q, 8-K) but will continue providing annual audited financial statements and quarterly information on its website. The bank will maintain FDIC quarterly Call Report filings.
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1895 Bancorp of Wisconsin (NASDAQ: BCOW) reported unaudited financial results for Q3 and the first nine months of 2022. For Q3, net income rose to $124,000, up from a net loss of $115,000 in Q3 2021, mainly due to a $915,000 increase in net interest income, reaching $3.9 million. However, non-interest income fell 23.7% to $479,000, primarily due to a decline in loan sales. For the nine months ended September 30, 2022, the company posted a net loss of $172,000, attributed to a $2.4 million drop in non-interest income, while net interest income increased by 15.6% to $10.8 million.
1895 Bancorp of Wisconsin (NASDAQ: BCOW) recently appointed Eric T. Hurd as Senior Vice President – Chief Lending Officer. Hurd brings over 22 years of banking experience, including 12 years at the Bank. His role is expected to strengthen the Bank's commercial banking operations.
Additionally, Thomas K. Peterson will transition to Senior Vice President – Commercial Lending Officer in preparation for his retirement, retaining a part-time position. This leadership shift aims to bolster the Bank's strategic growth.
1895 Bancorp of Wisconsin (NASDAQ: BCOW) announced key executive appointments effective October 1, 2022. David R. Ball has been promoted to President and CEO, bringing over 30 years of banking experience. Richard B. Hurd remains as SVP Strategic Planning Officer; Monica Baker is now Executive VP – COO; and Steven Klitzing has been promoted to Executive VP – CFO. Thomas K. Peterson will transition to SVP – Commercial Lending Officer on November 1, 2022. These changes aim to strengthen the management team of PyraMax Bank, enhancing operational capabilities and strategic planning.
1895 Bancorp of Wisconsin reported a net loss of $241,000 for Q2 2022, a significant increase from a loss of $51,000 in Q2 2021. This was primarily due to a $1 million decrease in non-interest income, although net interest income rose 5.7% to $3.3 million. For the six months ending June 30, 2022, the net loss totaled $296,000, contrasting with a net income of $470,000 in the same period last year. Total assets also decreased by $4 million to $535.6 million, while total stockholders' equity fell $9.9 million to $81 million.