BELOIT - On April 22, the annual meeting of shareholders of Centre 1 Bancorp Inc. was held in Beloit. Steven M. Eldred, chairman, reported that despite a challenging environment, First National Bank and Trust Company remains a well-capitalized financial institution with a risk-based capital ratio significantly above minimum regulatory levels and one of the highest it's been in five years.
The highlight for First National Bank in 2009 was the opportunity to purchase AMCORE Bank branches in Monroe and Argyle growing the Bank's size by more than 20 percent, to $827 million in total assets, and expanding its market footprint into Green and Lafayette counties.
"For more than 127 years, we've weathered tough economies and believe the true test of a well-run institution is demonstrated in challenging times. We are proud of the company's relative performance in these extraordinary times and have emerged from 2009 wiser and healthier from the experience. We're focused on the year ahead, in a great position to capitalize on future opportunities to improve market share," Eldred said.
Centre 1 Bancorp, Inc. is the holding company of First National Bank and Trust Company, headquartered in Beloit.
The highlight for First National Bank in 2009 was the opportunity to purchase AMCORE Bank branches in Monroe and Argyle growing the Bank's size by more than 20 percent, to $827 million in total assets, and expanding its market footprint into Green and Lafayette counties.
"For more than 127 years, we've weathered tough economies and believe the true test of a well-run institution is demonstrated in challenging times. We are proud of the company's relative performance in these extraordinary times and have emerged from 2009 wiser and healthier from the experience. We're focused on the year ahead, in a great position to capitalize on future opportunities to improve market share," Eldred said.
Centre 1 Bancorp, Inc. is the holding company of First National Bank and Trust Company, headquartered in Beloit.