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Blackhawk Bank News Releases

Wondering what Blackhawk Bank has been up to? We keep you up-to-date on all things Blackhawk right here in one spot.  
 
For News Releases pertaining to Blackhawk Bancorp, Inc., please visit Investor Relations.
 
 

2020

 

Blackhawk Bank Partners with FHLB to Donate $35,000 in Grants to Local Charities (September 28, 2020)

Blackhawk Bank recently presented a total of $35,000 in grant money to local charities in the southern Wisconsin and northern Illinois area.

Sara Reque Joins Blackhawk Bank’s Mortgage Team (September 14, 2020)

Sara Reque has joined Blackhawk Bank’s Mortgage team as a Mortgage Planner (NMLS#1260839 ) in the Janesville, Wisconsin market.

Tammy Fanning Joins Blackhawk Bank Retail Team (September 14, 2020)

Blackhawk Bank is pleased to welcome Tammy Fanning as Vice President Business Development.

Blackhawk Bank Recognized as IHDA Top Mortgage Producer (September 8,2020)

Blackhawk Bank’s Mortgage Department and mortgage loan originators have been recognized as a top mortgage producer for the Illinois Housing Development Authority (IHDA). 

Blackhawk Bank Purchases $23,100 in Gift Cards from Local Businesses (July 30, 2020)

 Blackhawk Bank recently purchased over 700 gift cards from local businesses and restaurants in the Southern Wisconsin and Northern Illinois area, totaling $23,100 in gift cards. 

Blackhawk Bank Donates $20,000 in Grants to Local Charities (June 16, 2020)

Blackhawk Bank recently presented a total of $20,000 in grant money to seven local charities in the southern Wisconsin and Northern Illinois area.  

Andrew Reed Joins Blackhawk Banks Retail Team (June 11, 2020)

Blackhawk Bank is pleased to welcome Andrew Reed as AVP, Regional Banking Center Manager  

Amy Smith Joins Blackhawk Banks Cash Management Team (April 13, 2020) 

Blackhawk Bank is pleased to welcome Amy Smith as Cash Management Administrator Cash Management. 

Lori Diaz Joins Blackhawk Banks Cash Management Team (April 13, 2020) 

Blackhawk Bank is pleased to welcome Lori Diaz as Senior Vice President Cash Management.

Kent T. Jones Joins Blackhawk Bank's Mortgage Team (March 11, 2020)

Blackhawk Bank is pleased to welcome Kent T. Jones to the Mortgage team as a Mortgage Planner (NMLS# 1258805).

Darell Tobias Joins Blackhawk Bank's Cash Management Team (February 27, 2020)

Blackhawk Bank is pleased to welcome Darell Tobias as Assistant Vice President of Cash Management. 

Kristi Amenda Joins Blackhawk Bank's Mortgage Team (January 30, 2020) 

Kristi Amenda has joined Blackhawk Bank’s mortgage team as a Mortgage Planner (NMLS#136999) in the Beloit, Wisconsin market.
 

2019

Blackhawk Bancorp Names Matthew McDonnell Chief Financial Officer (November 21, 2019)

Blackhawk Bancorp, Inc. reports that Matthew McDonnell has been named Senior Vice President and Chief Financial Officer of Blackhawk Bancorp, Inc. and its wholly owned subsidiary, Blackhawk Bank.

Amber Sanders Joins Blackhawk Bank as AVP, Controller (November 13, 2019)

Amber Sanders has joined Blackhawk Bank as Assistant Vice President, Controller.

Seneca Foods in Janesville, Wisconsin has donated over 47,000 non-perishable food items to Blackhawk Bank’s Grateful Giving Thanksgiving food drive campaign.

Blackhawk Bank Welcomes Tasha Ferguson as Vice President (October 28, 2019)

Blackhawk Bank recently welcomed Tasha Ferguson as Vice President Regional Banking Center Manager.

Blackhawk Bank Kicks Off Thanksgiving Food Drive (October 14, 2019) 

Blackhawk Bank’s annual Grateful Giving Thanksgiving Food Drive kicked off on Monday, October 14th.

Jim Reynolds Earns Preeminent CExPTM Designation for Exit Planning (September 13, 2019)

Jim Reynolds, Blackhawk Bank Vice President Business Banking, recently earned the designation of a BEI Certified Exit Planner (CExP™).

Zonts and Hogan Join Blackhawk Bank Business Banking Team (August 16, 2019)

Rick Zonts, SVP & Market Leader, and Adam Hogan, Vice President Business Banking, have joined the Business Banking Team at the Kane Business Banking Center in Elgin, Illinois... 

Blackhawk Bank Hosts Ceremonies for McHenry, Richmond, & Island Lake (August 12, 2019)

Blackhawk Bank recently dedicated their three new locations within McHenry and Lake Counties with ribbon cutting ceremonies... 

Whitehead Earns the Preeminent CExPTM Designation for Exit Planning (August 5, 2019)

Phil Whitehead, Blackhawk Bank Janesville Market President, recently earned the designation of a BEI Certified Exit Planner (CExP™)...

Greg Lundquist Promoted to AVP Business Banking (June 3, 2019)

Remaining committed to Blackhawk Bank’s philosophy of promoting from within, the Bank announced that Greg Lundquist has been promoted to Assistant Vice President Business Banking...

Blackhawk Bancorp, Inc. Elects Directors and Announces Retirement (May 15, 2019) 

Blackhawk Bancorp, Inc. (OTCQX: BHWB) re-elected three incumbent directors and one new director at its Annual Meeting of Shareholders...

Blackhawk Bank, Promoting from Within (March 4, 2019)

Blackhawk Bank is committed to our philosophy of growing talent from within our organization, promoting 13 current employees...

Blackhawk Bancorp, Inc Completes Acquisition of First McHenry Corp. (March 1, 2019)

On March 1, 2019, Blackhawk Bancorp, Incannounced it completed its acquisition of First McHenry Corporation...

Stateline Celebrates New Blackhawk Bank Roscoe Banking Center (February 26, 2019)

On February 26, Blackhawk Bank, along with the Stateline Chamber and Greater Beloit Chamber of Commerce, dedicated the new Roscoe Banking Center with a ribbon cutting ceremony. 

Blackhawk Bank Welcomes Public to Roscoe Banking Center Open House (February 22, 2019)

Join Blackhawk Bank as we showcase our newest banking center at 5506 Clayton Circle, Roscoe, IL on February 28, 2019 from 8:30 a.m. until 4:00 p.m...

Blackhawk Bankers Attend IMEC Lean Manufacturing 101 (February 14, 2019)

On February 12, 2019, nine Blackhawk Bank Business Bankers participated in IMEC’s Lean Manufacturing 101 with Simulation at the NIU Campus in Rockford...

Brian Mertens Named Blackhawk Bank's 2019 Spirit Award Winner (February 1, 2019)

Blackhawk Bank is honored to announce Brian Mertens, Network Technician Support Specialist, as the 2019 Spirit Award Winner...

Blackhawk Bank Recognizes Top Mortgage Producers (January 18, 2019)

Blackhawk Bank’s mortgage loan originators have been recognized for outstanding closed loan volume during 2018...
 

 

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Banking Basics

A common question bank account holders have is, “What do banks do with my money?” Since banks operate like a for profit business, they put the money loaned to them by their customers to work. Generally, banks make investments or loans using the money collected or borrowed from customers. For the privilege of using those dollars, the bank then pays an annual percentage yield (rate of return), or interest, to the deposit account holders. Most banks are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency created by Congress and run by the government to maintain stability and public confidence in the U.S. financial system. Since its inception, no depositor has ever lost a penny of FDIC-insured funds. Coverage is automatic. The FDIC insures deposits up to $250,000 per depositor, per insured bank. Banks which are Members of the FDIC are undergo rigid operational safety and soundness audits and are examined for compliance with consumer protection laws on a frequent basis. So, if your bank is a Member of FDIC, you can rest assured that your funds are insured up to $250,000 per depositor, per insured bank. Learn all the details of FDIC Insurance here.


How do Checking Accounts Work?

A checking account holds your money, similar to a typical savings account. With a checking account, you can access the money for your everyday expenses like food, clothes, and other needs. Most checking account holders access their checking account fund through a debit card, ATM card, digital solutions or paper checks. The APY on checking accounts is lower than a savings account because this money doesn’t stay in place as long as savings. Customers are more likely to take this money out of their account sooner than a savings account in order to pay their bills or for daily life costs. If you want to learn more about different types of checking accounts, you can research several options here.

Savings Account Basics

A savings account holds the money you don’t plan to touch for a while. It can be money you intend to use to buy a high-ticket item, like a car, or simply money that you want to let sit in the bank and collect interest. Most Savings, Money Market Accounts and Certificates of Deposit produce an APY and they all vary in their terms and benefits. It’s best to consult with a banker about which type of account can help you reach your goals the best, but here is the difference in general terms.

Personal Savings Account Basics

A personal savings account is a standard account that lets you deposit your money for safe keeping. Regular deposits to a savings account pave the way to a solid financial future while putting your money to work in the meantime. Money deposited into your savings can be used by the bank to make investments and loans. Since you can withdraw the money at any time, the interest you make on your savings is relatively low. Generally speaking, the longer you keep your money deposited, the more interest you can earn.

Money Market Saving Information

Money Market Savings accounts allow you to make deposits anytime, for any amount. You typically can earn a higher APY and some money market accounts allow you to write checks right from your account. Money Market accounts have a higher minimum balance to open than a regular savings account, but keeps your money liquid, guarantees returns, is FDIC insured and is a convenient way to transfer funds to and from your checking account. Interest rates and annual percentage yields are variable and may change at any time. Federal law requires that an account holder make no more than six (6) transfers or withdrawals during any statement cycle.

Certificate of Deposit Basics

Certificates of Deposit (CD) accounts work a little differently. They offer interest rates based on the amount of time you leave your money in the bank. The longer the CD terms (ex- 7 months, 22 months, 35 months, etc.), the higher the interest rate you can earn. However, you must leave the money untouched until the term agreement is up. If you withdraw the money before the term expires, there is usually an early withdrawal penalty. CDs are intended for those with a saving goal in mind.


Blackhawk Bank offers reliable services and a range of account options that can fit any banking needs. To learn more about the account services we offer, contact us today for more information.

Locate a Blackhawk Bank location near you.

Author:

Mathew Reynolds
VP Retail Banking

 

 

 

 

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