March 25, 2021

Dear Shareholders and Friends,

We’re pleased to present the 2020 Bankers’ Bancorporation Annual Report. Notwithstanding the terrible impact of COVID-19 throughout our markets, we’re very pleased that we were able to provide our high level of services to all our customers. Perhaps more than ever, we appreciate your community bank and your confidence in being an owner of our company. On behalf of our entire team, thank you for your support and the opportunity to serve you. 

We were confident when we made the decision to enact our remote work program in March 2020, due to the testing we completed of our business continuity programs. As such, we had over 90% of our staff working remotely and witnessed no decline in service levels for our customers. Our goal was to make this program as seamless as possible for our customers while also ensuring, our staff was as safe as possible during the pandemic. We acknowledge that the pandemic work is not complete but we are very proud of our success to-date in meeting the goals of staff safety and customer service. 

Bankers’ Bank’s financial performance for 2020 was excellent. Net Income was $13.1 million which represented an increase of 70.7% over the previous year. We did incur a one-time after tax gain of $3.2 million on the sale of Visa-B shares. Core earnings without this gain resulted in an increase of 28.5%. Return on Assets was 1.15% as compared to .92% the previous year. Return on Equity was 13.44% for 2020 versus 9.17% in 2019. Earnings per share rose 68% to $634 per share. 

Another milestone we achieved in 2020 was having our assets exceed $1 billion. As of December 31, 2020, Total Assets grew 37.6% to $1.1 billion. Total Deposits grew to $857.6 million, an increase of 37.5%. Net Loans and Leases increased 21.7%. In response to the pandemic, our bank increased our ALLL to 2.34% of loans. Capital levels remained strong at 16.36% Total Risk Based and 9.60% Tier 1 Leverage ratios. 

During 2020, our senior management team and Board of Directors completed the Bankers’ Bank 2021-2023 Strategic Plan. A lot of time was committed to this significant project. We’re thrilled about the completed plan and look forward to an exciting future. This plan includes expanding our market, adding a new division called Risk Management Solutions and adding new products and services to complement our existing line-up. We look forward to sharing these initiatives with you over the next few years.  

Finally, we look forward. We look forward to getting the vaccine. We look forward to getting back on the road and visiting with you at your bank. We look forward to hosting in-person events. We look forward to seeing you at association events. As we enter into 2021, we have a lot to look forward to. 

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 22, 2021, 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 23, 2021.

In light of the ongoing health concerns relating to the COVID-19 coronavirus pandemic and to best protect the health and welfare of the Company’s employees, shareholders and community, the Company urges that shareholders do not send representatives to attend the Annual Meeting in person this year.  Should you wish to attend the meeting in person, we request that you RSVP to Shareholder Services by April 16th, 2021. In person attendance will require temperature monitoring, facemasks and social distancing. Shareholders are nevertheless urged to vote their proxies by mail or email (shareholderservices@bankersbank.com) by following the instructions contained in 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.