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Section 1: 8-K (1895 BANCORP OF WISCONSIN, INC. FORM 8-K SEPTEMBER 24, 2019)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 24, 2019

1895 Bancorp of Wisconsin, Inc.
(Exact Name of Registrant as Specified in Charter)


Federal
   
001-38778
 
83-3078306
(State or Other Jurisdiction
   
(Commission File No.)
 
(I.R.S. Employer
of Incorporation)
   
Identification No.)
   
 
7001 West Edgerton Avenue, Greenfield, Wisconsin
 
53220
 
(Address of Principal Executive Offices)
 
(Zip Code)

Registrant's telephone number, including area code: (414) 421-8200

Not Applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
 
Trading
Symbol(s)
 
Name of each exchange on which registered
Common Stock, par value $0.01 per share
 
BCOW
 
The NASDAQ Stock Market, LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☑
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


Item 8.01 Other Events.

On September 24, 2019, 1895 Bancorp of Wisconsin, Inc. (the “Company”), the holding company for PyraMax Bank, FSB (the “Bank”), announced that the Bank plans to close its branches at 8001 W. National Avenue, West Allis, Wisconsin and 318 N. Water Street, Milwaukee, Wisconsin. For more information on these branch closures please refer to the Company’s press release, a copy of which is included as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(a)
Financial Statements of Businesses Acquired.  Not applicable.

(b)
Pro Forma Financial Information.  Not applicable.

(c)
Shell Company Transactions.  Not applicable.

(d)
Exhibits.

Exhibit No. Description

99.1


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


   
1895 BANCORP OF WISCONSIN, INC.
     
     
     
DATE: September 24, 2019
By:  
 /s/ Richard B. Hurd
   
Richard B. Hurd
   
President and Chief Executive Officer


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Section 2: EX-99.1 (PRESS RELEASE OF 1895 BANCORP OF WISCONSIN, INC. DATED SEPTEMBER 24, 2019)

EXHIBIT 99.1


 
FOR IMMEDIATE RELEASE
CONTACT: Richard B. Hurd, President and Chief Executive Officer
TELEPHONE: (414) 421-8200

1895 BANCORP OF WISCONSIN, INC. ANNOUNCES PLANS TO CLOSE TWO BRANCHES
 
Greenfield, Wisconsin September 24, 2019: 1895 Bancorp of Wisconsin, Inc. (the “Company”) (NASDAQ Capital Market: BCOW), the holding company for PyraMax Bank, FSB (the “Bank”), today announced that the Bank plans to close its branches located at 8001 W. National Avenue in West Allis, and 318 N. Water Street in Milwaukee, Wisconsin. Customers at both branches will have their accounts and other banking services transferred to the Bank’s branch located at 7001 W. Edgerton Avenue in Greenfield, Wisconsin. Mailings have been sent to the customers at these branches and the changes are scheduled to take effect on December 31, 2019.
 
Richard B. Hurd, President and Chief Executive Officer of the Company and the Bank stated: “We looked at the expense of the two branches and looked at the transaction volume and decided it would be in our best interest to consolidate the branches and reduce the costs.”
 
1895 Bancorp of Wisconsin, Inc., a savings and loan holding company incorporated under federal law, is the holding company for PyraMax Bank, FSB, a federal savings bank headquartered in Greenfield, Wisconsin.
 
Certain statements contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as “may,” “will,” “believe,” “expect,” “estimate,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, as described in the “Risk Factors” disclosures included in our Annual Report on Form 10-K, as supplemented in Quarterly Reports on Form 10-Q, including, but not limited to the risk that the anticipated reduction in operating expenses referenced above are not met.

The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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