BROOKFIELD, Wis. (April 25, 2016) – Ridgestone Financial Services achieved a significant increase in earnings through first quarter of 2016, with a net income of $4.2 million compared with earnings of $3.1 million for the first quarter in 2015. The improvement resulted largely from continued growth in government guaranteed lending, increased servicing fees, reduction in loan loss provision and net interest margin improvement.
As a result of strong performance and strong capital position, Ridgestone Financial Services, Inc. Board of Directors declared a quarterly dividend of $0.25 per share to its shareholders of record on April 4, 2016.
“Ridgestone’s consistent growth and increased earnings represents the commitment we’ve made to provide government guaranteed loans for new and existing small business customers,” said Bruce Lammers, president and CEO of Ridgestone Bank. “This has resulted in the origination of $81 million of new government guaranteed loans during the first quarter of 2016.”
Ridgestone Bank is a leader in SBA lending, and has earned the following rankings as of March 31, 2016, for SBA lending in dollar volume, according to the Small Business Administration:
- #1 in Wisconsin
- #1 in Illinois
- #3 in Indiana
- #6 in the Nation
Ridgestone Bank is a privately-held bank with full-service branch locations in Brookfield, Wis. and Schaumburg, Ill., as well as lenders in Indianapolis, Northeast Wisconsin, Northcentral Wisconsin, Tennessee, Southern California, Ohio and Madison, Wis. Founded in 1995, the bank is a leader in small business and government guaranteed lending nationwide. Distinguished by the SBA as an “SBA Preferred Lender,” Ridgestone Bank is a top 10 SBA lender in the nation and is the number one SBA lender in Wisconsin and Illinois. Ridgestone Bank is a leader in USDA lending in the United States and has been recognized as a valued partner by the USDA for its commitment to small businesses. Ridgestone Financial Services trades its common stock on the OTC Market exchange under the ticker symbol “RGST.” Ridgestone Bank is an Equal Housing Lender and Member FDIC. For more information on Ridgestone Bank, visit www.ridgestone.com.
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