Blackhawk Bancorp, Inc. Bank reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income for the second quarter ended June 30, 2015 was $940,000, or $0.42 per basic and diluted share, compared to $982,000, or $0.42 per basic and diluted share, for the same quarter ended June 30, 2014. Net interest and dividend income after provision for loan losses for the second quarter ended June 30, 2015 was $4.27 million, compared to $4.07 million for the same quarter ended June 30, 2014. Total interest and dividend income was $5.551 million compared to $5.500 million a year ago. Income before income taxes was $1.262 million compared to $1.277 million a year ago. ROAA was 0.63% compared to 0.67% a year ago. ROAA, excluding net securities fraud loss was 0.63% compared to 0.67% a year ago. ROACE was 8.65% compared to 9.37% a year ago. ROACE, excluding net securities fraud loss was 8.65% compared to 9.37% a year ago.

Net income for the six months ended June 30, 2015 was $1.80 million, or $0.81 per diluted share, compared to $1.68 million, or $0.66 per diluted share, for the same period ended June 30, 2014. Net interest and dividend income after provision for loan losses for the six months ended June 30, 2015 was $8.36 million, compared to $8.34 million for the same period ended June 30, 2014. Total interest and dividend income was $10.95 million compared to $10.988 million a year ago. Income before income taxes was $2.35 million compared to $2.02 million a year ago. The higher percentage increase in earnings per share compared to the percentage increase in net income reflects the impact of the Company redeeming $10.5 million of preferred stock in the second quarter of 2014. Since the redemption, all of the Company's earnings are attributable to common shareholders. The company's return on average common equity for the first half of 2015 was 8.42%, an increase of 85 basis points compared to 7.57% for the first half of 2014. Return on average assets for the first six months of 2015 increased to 0.62% compared to 0.58% the first half of 2014.