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)...... April 24, 2002
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 David A. Stearns, Executive
Vice President effective May 1, 2002. In announcing the departure R. Richard
Bastian, III stated, "Dave has made a substantial contribution to the
establishment of policies and procedures that have enhanced our professionalism
in meeting the needs of Blackhawk State Bank customers. He has improved our
productivity, performance and accuracy and has provided leadership to many
community initiatives."
Item 7. Financial Statements and Exhibits
Exhibit Incorporated by Filed
Number Description Reference to Herewith
1.1 Press Release Dated X
April 24, 2002
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.
Date: April 25, 2002 BLACKHAWK BANCORP, INC.
/s/Todd J. James
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Todd J. James
Senior Vice President and CFO
BLACKHAWK BANCORP, INC.
BLACKHAWK STATE BANK
400 BROAD STREET, BELOIT, WI 53511
FOR IMMEDIATE RELEASE
Contact: R. Richard Bastian, III - president and chief executive officer
Phone: 608-364-8911
Fax: 608-364-8937
STEARNS RESIGNS FROM BLACKHAWK
Beloit, WI (April 24, 2002) - Blackhawk State Bank announced that David A.
Stearns, Executive Vice President and Senior Lending Officer has resigned his
position to pursue other endeavors, effective May 1, 2002.
Commenting on Stearns departure, R. Richard Bastian, III, president and chief
executive officer of Blackhawk, indicated that Stearns was brought in three
years ago to improve lending policies and procedures, and lead Blackhawk's
business banking expansion in Winnebago, Boone and Ogle counties. "Dave
accomplished what he set out to achieve and leaves a legacy of the highest
standard of professional behavior and expertise, said Bastian. "We wish him well
in his pursuit of new opportunities," concluded Bastian. Stearns will not be
replaced.
Blackhawk Bancorp, Inc. with total assets of approximately $317 million is the
parent company of Blackhawk State Bank, which operates ten office locations in
south central Wisconsin and north central Illinois. The stock of Blackhawk
Bancorp, Inc. is publicly 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,
customer loan and deposit preferences, and other general economic conditions.