Blackhawk Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Blackhawk Bancorp Declares Quarterly Cash Dividend, Payable on November 29, 2014
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.