BELOIT, WI / ACCESSWIRE / February 28, 2022 / Blackhawk Bancorp, Inc. (OTCQX:BHWB) reports that its Board of Directors has declared a cash dividend on the Company's common stock. Shareholders of record as of December 3, 2021, will be paid a dividend of $0.12 per share on February 16, 2022. This amounts to $0.48 per share on an annual basis and is the thirty-first consecutive quarterly dividend declared by the Company and represents a 9% increase compared to the last eight quarterly dividends.

About Blackhawk Bancorp

Blackhawk Bancorp, Inc. is headquartered in Beloit, Wisconsin and is the parent company of Blackhawk Bank. The combined entity operates twelve full-service banking centers which are located in Rock County, Wisconsin and the Illinois counties of Winnebago, Boone, McHenry, Lake, and Kane. The Company offers a variety of value-added consultative services to its business customers and their employees related to the financial products it provides.

Forward-Looking Statements

When used in this communication, the words "believes," "expects," "likely", "would", and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company's markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which Blackhawk or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of "critical accounting policies"; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

Further information is available on the Company's website and as below:

Blackhawk Bancorp, Inc.: www.blackhawkbank.com
Todd J. James, President & CEO
tjames@blackhawkbank.com

Phone: (608) 364-8911
Matthew McDonnell, SVP & CFO
mmcdonnell@blackhawkbank.com

SOURCE: Blackhawk Bancorp, Inc.