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County Bancorp, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Nov 5, 2021. Its latest SEC filing is a 15-12B from Dec 13, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides banking and related financial services, focusing on agricultural businesses statewide and especially dairy lending.

How Did They Make Money?

The bank earns interest on loans and investment securities, receives fees connected with loans, and earns non-interest income from loan sales and loan servicing rights.

revenue
SegmentShareRevenue
Services Charges
4.4%
FY2017: 20%
Loan Servicing Fees
96%
FY2017: 80%

Who Were Their Customers?

Serves agricultural businesses statewide, particularly those focused on dairy, as well as business and retail customers throughout Wisconsin; customers are served through full-service locations and loan production offices.

Did Revenues Turn Into Profits?

Yes. It kept 11 cents of every revenue dollar as net income in FY2020, but spent more cash than it brought in: free cash flow was −$27.4M.

Net income, FY2020
11% of revenue
▼ −67% vs FY2019 ($16.5M, 31%)
Free cash flow, FY2020
−57% of revenue
▼ Now a loss vs FY2019 ($21.3M, 40%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Revenue
▲ +4%
vs $13.1M in Q3 FY2020
Net income
▲ +20%
vs $3.4M in Q3 FY2020
Loan Servicing Fees, Net share of non-interest income vs 93.3% in Q3 FY2020
  • Dec 6, 2021 County Bancorp merged into Nicolet Investors Community Bank also merged into Nicolet National Bank, and County shareholders received Nicolet stock or cash.

Grew. Revenue grew 17% in 4 years, from $41.3M in FY2016 to $48.2M in FY2020, about 4% a year.

Revenue over time
Services Charges Loan Servicing Fees
$20M$10M$0

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