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)...... December 19, 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 appointment of R. Richard Bastian, III as
CEO and the change in responsibilities of Dennis M. Conerton current Chairman
and CEO effective January 31, 2002. The Company issued a press release dated
December 19, 2001, announcing the changes, 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
December 19, 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: December 28, 2001 By: /s/ R. Richard Bastian, III
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CEO, President and
Chief Operating Officer
BLACKHAWK BANCORP, INC.
400 Broad Street, Beloit, WI 53511
FOR IMMEDIATE RELEASE
FOR INFORMATION CONTACT: DENNIS M. CONERTON, CHAIRMAN AND CHIEF EXECUTIVE
OFFICER OR R. RICHARD BASTIAN, III, PRESIDENT AND CHIEF OPERATING OFFICER
Phone: 608-364-8911
Fax: 608-364-8946
CONERTON STEPPING ASIDE AT BLACKHAWK
(Beloit, WI, December 19, 2001). Dennis M. Conerton, Chairman and Chief
Executive Officer of Beloit-based Blackhawk Bancorp, announced that he will be
stepping aside from his day-to-day responsibilities at the Company, effective
January 31, 2002. His responsibilities as CEO will be assumed by R. Richard
Bastian, III, currently President and Chief Operating Officer of Blackhawk
Bancorp, Inc. and President and Chief Executive Officer of its principal
subsidiary, Blackhawk State Bank.
In making the announcement, Conerton said, "since the Board of Directors asked
me to serve as President and CEO of the organization, I have been pleased to see
Blackhawk expand from its Beloit roots into a $300 million community bank with
10 offices in two states." Conerton became CEO in 1995 and oversaw the bank's
expansion through two acquisitions in 1997 and 1998.
Conerton further commented, "the time is right, however, for me to complete the
transition of day to day responsibilities for improving our productivity and
profitability to Rick Bastian. Since we asked Rick to join our organization
last May, I became increasingly confident of his banking expertise and ability
to lead the Company to our next level of growth and profitability."
Bastian joined the organization in May with over 30 years of banking experience.
"I respect what Dennis has accomplished for Blackhawk," remarked Bastian. "You
couldn't ask for anyone to be more dedicated and committed than Dennis Conerton
to the success of an organization," he concluded.
Blackhawk Director and Executive Committee Chairman, Roger Taylor, also
commented that "the Board supports Dennis' decision to complete an orderly
transition of leadership." Taylor also stated that for the time being, the Board
has decided to keep the Chairman of the Board position open until a decision for
a successor is made.
While stepping down from day-to-day responsibilities, Conerton will remain a
director of the bank and its holding company. Conerton indicated that he
intended to spend more time on a day-to-day basis volunteering for several
community organizations in which he is involved. He currently serves on the
boards of the YMCA, the Beloit Professional Baseball Association, Inc. and the
Beloit Memorial Hospital Foundation.
Conerton was a Director of Blackhawk when its predecessor, Beloit Savings Bank,
converted from a mutual to a stock company in 1991. Prior to then, he had been
a Trustee of Beloit Savings Bank since 1979. He was Vice-President and Chief
Accounting Officer of Regal-Beloit Corporation before becoming Blackhawk
President and Chief Executive Officer in 1995.
Blackhawk Bancorp is the holding company for Blackhawk State Bank, a $316
million community bank with offices in Beloit, Roscoe, Rockford, Belvidere,
Rochelle and Oregon.