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History Highlights (1881 - Now)
In a Certificate of Organization adopted March 26, 1881, Beloit Savings Bank is formed, “for the purpose of receiving deposits of laborers, mechanics, servants, minors and others, and to loan the same for the benefit of such depositors.”
S.T. Merrill is elected the first President of the Bank, which is located on the 2nd Floor of the D.S. Foster Building in downtown Beloit, WI.
A two story, state-of-the-art facility is constructed to accommodate Beloit Savings Bank’s move from its long-time site at the corner of State Street and Public Avenue, in Beloit.
Beloit Savings Bank celebrates its 100th Anniversary.
A new, full-service branch opens at 1795 Madison Road, on Beloit’s west side.
Land is purchased for another office on Beloit’s east side. In February, the Beloit East Banking Center opens at 2200 Cranston Road, Beloit.
Beloit Savings Bank changes its state charter to become a publicly-held commercial bank. The Bank’s name becomes Blackhawk State Bank. Shares of Blackhawk Bancorp, Inc. become available on the Over the Counter Market under its then-symbol BKHB.
Groundbreaking takes place for a two-story, 6,000 square foot addition on the southeast corner of the building located at 400 Broad Street, Beloit.
The Bank announces plans for the first full-service branch located in a local supermarket, Cub Foods.
Robert Thomas Securities, a full-service brokerage firm, opens inside the Bank at 400 Broad Street, Beloit. The firm’s name later changes to Raymond James Financial Services, Inc.
Blackhawk State Bank reaches a merger agreement and plan of reorganization with Rochelle Bancorp, Inc., an Illinois corporation headquartered in Rochelle, IL. Rochelle Savings and Loan operating offices in both Rochelle and Oregon, IL.
In May, Blackhawk State Bank completes the Rochelle Bancorp, Inc. acquisition, resulting in six office locations on both sides of the Illinois-Wisconsin state line.
Blackhawk State Bank opens its second in-store branch, in July, at the Beloit Walmart Super Center.
The Cubs Foods and Walmart in-store branches later close, consolidating business into the nearby offices located at 400 Broad Street and 2200 Cranston Road, Beloit.
Blackhawk State Bank opens its eighth office at the corner of Highway 251 and Elevator Road in Roscoe, IL, in March.
In May, Blackhawk State Bank announces its plan to expand its presence in Illinois with the proposed acquisition of First Financial Bancorp of Belvidere, IL. The completed acquisition adds two offices in Belvidere and a new office building on Perryville Road in Rockford, IL.
A second Raymond James Financial Services, Inc. opens inside the Rockford Office on Perryville Road.
In March, Blackhawk State Bank announces its plan to acquire DunC Corp., headquartered in Capron, IL.
Blackhawk State Bank completes the DunC Corp. acquisition, adding offices in Capron, Machesney Park and Belvidere, IL, in October.
The office at 1021 N. State Street, Belvidere consolidates into the nearby Banking Center located at 2141 N. State Street, Belvidere.
Blackhawk State Bank narrows its market to a regional corridor stretching from Beloit, WI to Belvidere, IL, selling the Rochelle and Oregon, IL branches to First National Bank of Rochelle.
Blackhawk State Bank shortens its name to Blackhawk Bank, in turn updating its logo for a more contemporary image. New signage is erected at all Banking Centers.
The Bank expands its ATM network through a co-operative agreement that places numerous ATMs in high-traffic areas.
Blackhawk Bank’s branch office at 1795 Madison consolidates into the two larger office in Beloit at 400 Broad Street and 2200 Cranston Road.
Business from the Bank’s 121 E. Locust Street branch in Belvidere, IL consolidates into the Banking Center located at 2141 N. State Street, Belvidere.
In April, a third office of Raymond James Financial Services, Inc. opens inside the Banking Center at 2141 N. State Street, in Belvidere.
The Mortgage Processing Department relocates from the Belvidere location, in September, to an office on Argus Drive in Rockford, IL.
Blackhawk Bank breaks ground, in June, for a full-service Banking Center at 3101 11th Street, in Rockford, IL.
The Banking Center opens on November 11th, to meet the financial needs of this diverse corridor populated by manufacturers, businesses, families and individuals.
To provide longer hours and additional financial services, the Bank consolidates its Capron, IL office into the nearby Belvidere Banking Center.
The Blackhawk Bank Mortgage & Commercial Loan Office opens on August 18th at 200 W. Milwaukee Street, in Janesville, WI.
On April 4th, Blackhawk Bank announces it acquired property at 2525 Milton Avenue in Janesville, WI.
On November 20th, a new full-service Banking Center opens at this location. The Mortgage & Commercial Loan Center relocates from 200 West Milwaukee Street to this new location.
Blackhawk Bank announces, on September 7th, that the Bank purchased property at 5506 Clayton Circle, in Roscoe, IL to accommodate the relocation of the office at 5206 Elevator Road.
A new Blackhawk Bank Business Banking Center opens at 2205 Point Boulevard, Suite 205 in Elgin, IL. This office serves business owners in Kane, McHenry and surrounding Counties.
The Banking Center at 5206 Elevator Road closes on March 24th and relocates to a temporary, module Banking Center on March 26th at 5506 Clayton Circle, the future site of the new Roscoe Banking Center.
On October 18th, Blackhawk Bancorp, Inc. announces the signing of a definitive merger agreement with First McHenry Corporation, parent company of First National Bank of McHenry, under which Blackhawk Bancorp agrees to acquire 100% of the common stock of First McHenry.
The new Roscoe Banking Center opens at 5506 Clayton Circle, on January 14th, offering full-service banking, mortgage services and business banking.
On March 1st, Blackhawk Bancorp, Inc. completes the acquisition of First McHenry and plans to merge their three Banking Centers located in McHenry, Richmond and Island Lake, IL into Blackhawk Bank.
First National Bank of McHenry adopted the Blackhawk Bank identity, name and logo on July 20, 2019.
About Blackhawk Bank
Blackhawk Bank is a wholly-owned subsidiary of Blackhawk Bancorp, Inc. (BHWB). The Bank employs more than 200 people and operates 11 full-service Banking Centers, a Business Banking Center and a Mortgage Processing Center.