1895 Bancorp of Wisconsin Inc
1895bancorpofwisconsin.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 8, 2024. Its latest SEC filing is a 15F-12B from Mar 17, 2025.
10-Q for Q3 FY2024, filed Nov 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Took deposits and made residential, commercial real estate, commercial business and consumer loans through PyraMax Bank, serving consumers and businesses in southeastern Wisconsin.
10-K for FY2023, filed Mar 29, 2024BUSINESS OF PYRAMAX BANK, FSBView ↗
From our founding in 1895, we operated as a traditional thrift institution, offering primarily residential mortgage loans and savings…View ↗
Our business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from…View ↗
We conduct our operations from our three full-service banking offices in Milwaukee County, Wisconsin, our two full-service banking offices…View ↗
How Did They Make Money?
The bank earned interest on loans and investments funded mainly by customer deposits. It also earned fees from deposit accounts and card transactions, loan servicing fees, and gains from selling loans.
10-K for FY2023, filed Mar 29, 2024Our business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from…View ↗
Subject to market conditions, we expect to continue our focus on originating and selectively purchasing participations in commercial real…View ↗
Mortgage servicing rights, which are acquired when we sell a loan but retain the servicing rights, are recognized as a separate asset. As…View ↗
The majority of the Company’s revenue-generating transactions are not subject to Topic 606, including all interest and dividend income…View ↗
Fee income on deposit accounts – Revenue from fees charged on deposit accounts is earned through deposit-related services; as well as…View ↗
Merchant card arrangement fees – Customers use a Bank-issued debit or credit card to purchase goods and services, and the Company earns…View ↗
$20.9M
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10-K for FY2023, filed Mar 29, 2024
$20.9M ↗
Who Were Their Customers?
Consumers and businesses in southeastern Wisconsin used the bank’s branches for deposit accounts and loans; some residential mortgage loans were sold to investors, and the bank bought loan participations from local financial institutions.
10-K for FY2023, filed Mar 29, 2024From our founding in 1895, we operated as a traditional thrift institution, offering primarily residential mortgage loans and savings…View ↗
Our business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from…View ↗
We conduct our operations from our three full-service banking offices in Milwaukee County, Wisconsin, our two full-service banking offices…View ↗
We consider our balance sheet as well as market conditions on an ongoing basis in making decisions as to whether to hold loans we originate…View ↗
The loans that we originate to sell are closed in our name, and are subsequently sold to our investors who provide Fannie Mae and Freddie…View ↗
During 2023, we purchased additional commercial real estate and commercial loan participations secured by properties and/or business assets…View ↗
Did Revenues Turn Into Profits?
No. It lost $6.8M in FY2023.
10-K for FY2023, filed Mar 29, 2024
10-K for FY2023, filed Mar 29, 2024
−$6.8MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2024, filed Nov 8, 2024
−$159KView ↗
- ▼ −96% (Loss)
- vs −$3.6M in Q3 FY2023
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Feb 18, 2025
Announced a Nasdaq delisting and a review of strategic alternatives
The company hired a financial adviser to evaluate options that could include a business combination or sale of control.
Sources
8-K, filed Feb 18, 2025
On February 18, 2025, 1895 Bancorp of Wisconsin, Inc. (the “Company”) notified the Nasdaq Stock Market, LLC (“Nasdaq”) of its intent to…View ↗
Grew. Revenue grew 35% in 3 years, from $15.5M in FY2020 to $20.9M in FY2023, about 10% a year.
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