BROOKFIELD, Wis. (Sept. 23, 2013) – Ridgestone Financial Services achieved record earnings during the first six months of 2013, with a net income of $4.2 million compared with income of $219 thousand for the first six months of 2012. Second quarter earnings reached $1.9 million in 2013 compared to earnings of $51 thousand for the second quarter in 2012. The improvement resulted largely from continued growth in government guaranteed lending and net interest margin improvement.
“We continue to focus on the origination of government guaranteed loans for new and existing customers,” said Bruce Lammers, president and CEO of Ridgestone Bank. “This has resulted in the origination of $135 million of new government guaranteed loans during the first six months of 2013. Additionally, our servicing of the guaranteed portion of SBA loans provides the bank with a steady stream of income.”
Ridgestone Bank is a leader in SBA lending, and has earned the following rankings as of June 30th, 2013, for SBA lending in dollar volume:
#1 in Illinois
#1 in Indiana
#3 in Wisconsin
#6 in the nation
Ridgestone Bank is a privately-held bank with locations in Brookfield, Wis. and Schaumburg, Ill. Founded in 1995, the bank is a leader in small business and government assisted lending nationwide and also provides retail banking services, including checking, money markets, CD’s, and other convenience services at its branch locations. Distinguished by the SBA as an “SBA Preferred Lender,” Ridgestone Bank is the 6th most prolific SBA lender in the nation and is the number one SBA lender in Illinois and Indiana and is the number one SBA lender in its asset size in Wisconsin. 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. For more information, call 262-789-1011 or visit www.ridgestone.com.
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