March 25, 2022

Dear Shareholders and Friends,

We’re delighted to present the 2021 Bankers’ Bancorporation Annual Report. While the past year was impacted by the continued COVID pandemic, we kept utilizing our business continuation programs throughout the bank for seamless operations for our customers. Our primary goal remained the safety and health of our staff members and customers. In spite of the pandemic, 2021 was once again a very strong year for Bankers’ Bank.

Financial performance for 2021 was very good. Core net income was $12.8 million which represented an increase of 29% over the previous year. We incurred a one-time gain of $3.15 million on the sale of Visa-B shares in 2020. Return on assets was 1.00% as compared to 1.04% the previous year. Return on equity was 11.95% for 2021. Book value per share grew to $5,772 which is a 9% increase. 

As of December 31, 2021, total assets grew 26% to $1.4 billion. Total deposits expanded to $1.2 billion, a growth of 40%. Net loans and leases increased 22%. Capital levels remained strong at 16.99% Total Risk Based and 9.04% Tier 1 Leverage Ratios. 

Along with financial growth in 2021, we also expanded our market reach by entering Ohio and Michigan. With more than 250 community banks headquartered in these two states, we’re excited to offer solutions that help support the continued growth of community banks in Midwestern states. 

We strive to consistently serve the needs and aspirations of our three primary sources of support. First, our tremendous staff at Bankers’ Bank. Our success would not be possible without this dedicated and committed group of bankers. Second, our community bank customers. It is these community banks in rural, suburban and urban markers throughout the Midwest that we feel privileged to provide best-in-class correspondent bank services. Finally, I want to thank our 230 shareholders. Your belief in community banking goes way beyond just words. Your financial commitment to our company is greatly appreciated.

Take care,

Brad Stamper                            

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Annual Meeting Notice

The Annual Meeting of the Shareholders of Bankers’ Bancorporation, Inc. will be held on Thursday, April 28, 2022, beginning at 10:00 a.m. CST. The meeting will be held at the offices of the Corporation, 7700 Mineral Point Road, Madison, WI 53717. Copies of the meeting notice and proxy statements will be sent to all shareholders of record as of March 22, 2022.

To ensure a quorum for the meeting and that your vote is counted, the Company encourages shareholders to complete and return their proxies by mail or email (shareholderservices@bankersbank.com) by following the instructions contained within the proxy materials.

Bankers’ Bancorporation, Inc. is a registered bank holding company. Bankers’ Bank is the sole banking subsidiary and a member of the Federal Reserve System; deposits are insured by the FDIC.