SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)....... September 27, 2001
BLACKHAWK BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Wisconsin 0-18599 39-1659424
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(State or other jurisdiction (Commission File Number) (IRS Employer Number)
of incorporation)
400 Broad Street, Beloit, WI 53511
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (608) 364-8911
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Item 5. Other Events.
Blackhawk Bancorp, Inc. announced the resignation of Keith D. Hill, Vice
President and Chief Financial officer for the Company and its subsidiary bank,
Blackhawk State Bank to pursue a career opportunity in Indiana. The Company
issued a press release dated September 27, 2001, announcing the departure, which
is attached as an exhibit.
Item 7. Financial Statements and Exhibits
Exhibit Incorporated by Filed
Number Description Reference to Herewith
1.1 Press Release Dated X
September 27, 2001
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BLACKHAWK BANCORP, INC.
Date: September 27, 2001 By: /S/Dennis M. Conerton
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Chairman and
Chief Executive Officer
BLACKHAWK BANCORP, INC.
400 Broad Street, Beloit, WI 53511
FOR IMMEDIATE RELEASE
Contact: Dennis M. Conerton, Chairman
Phone: 608-364-8911
FAX: 608-364-8946
OFFICER DEPARTURE ANNOUNCED
Beloit, WI, September 27, 2001--Dennis M. Conerton, Chairman and CEO of
Blackhawk Bancorp, Inc. has reported that Keith D. Hill has tendered his
resignation as Vice President and Chief Financial Officer of the Company and
it's subsidiary, Blackhawk State Bank, effective October 5, 2001. Mr. Hill has
held these positions since his appointment in May 2000.
Conerton stated, "Mr. Hill has served the organization loyally during the entire
time he has been with us and contributed greatly to our accomplishments
throughout our organizational restructuring and will be missed." Hill commented
that "I have mixed emotions about leaving Blackhawk but decided to pursue an
excellent banking opportunity offered to me in the state of Indiana." Both
Conerton and Hill stated that there were no disagreements between the Company
and Hill that factored into his decision to leave.
Conerton stated that the Company has initiated an immediate search for a new
Chief Financial Officer and intended to fill this position as quickly as
possible. During the search process, Conerton will act as interim Chief
Financial Officer for the Company and it's subsidiary bank.
R. Richard Bastian, III, recently appointed President and COO of the Company and
President and CEO of Blackhawk State Bank stated, "While we lose a talented and
valuable member of our management team in Keith's departure, we are fortunate to
have the accounting and financial experience of Dennis Conerton to help us
through this transitional period until we hire a permanent CFO." Conerton, also
a Certified Public Accountant, has previous career experience that includes five
years in public accounting with Arthur Andersen & Co. and 17 years as vice
president and controller of Regal Beloit Corporation. He has served as a
director of Blackhawk Bancorp and its predecessor, Beloit Savings Bank, since
1979; he joined the bank as President and CEO in 1995.
Blackhawk Bancorp, Inc, with total assets of approximately $321 million, is the
parent company of Blackhawk State Bank which operates four office locations in
Beloit, Wisconsin, two offices in Belvidere, Illinois and office locations in
Rochelle, Oregon, Rockford and Roscoe, Illinois. Blackhawk's stock is traded on
the over the counter market under the symbol BKHB.
When used in this communication, the words "believes," "expects," 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, changes in interest rates, levels of consumer bankruptcies,
consumer loan and deposit preferences, and other general economic conditions.