Blackhawk Bancorp, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company has posted total interest and dividend income was $5,698,000 against $5,635,000 a year ago. Income before income tax was $956,000 against $1,193,000 a year ago. Net loss was $375,000 or $0.17 diluted per share against net profit of $980,000 or $0.36 diluted per share a year ago. ROAA was negative at 0.25% against positive ROAA of 0.67% a year ago. Net interest income for the third quarter increased by 2% to $4,932,000 compared to $4,848,000 for the third quarter of 2013 with the net interest margin decreasing 3 basis points to 3.66% compared to 3.69% the third quarter last year.

For the nine months, the company has posted total interest and dividend income was $16,687,000 against $16,916,000 a year ago. Income before income tax was $1,059,000 against $2,143,000 a year ago. Net income was $1,308,000 or $0.50 diluted per share against net profit of $2,076,000 or $0.71 diluted per share a year ago. Net interest income for the first three quarters of the year increased $94,000, or 1%, to $14,463,000 compared to $14,369,000 prior year. The net interest margin for the first nine months was $3.65%, down 5 basis points compared to the first nine months of last year.

The board of directors has declared a cash dividend on the company's common stock. Shareholders of record on November 14, 2014 will be paid a dividend of $0.02 per share on November 29, 2014. This amounts to $0.08 per share on an annualized basis.