• Aug 6, 2016

Legacy Dental - ID for Life

Legacy Dental in Manitowoc has begun offering the program ID For Life to patients.

ID For Life utilizes the Fluorescence Assessment and Cytology Test Oral Heath Protocol, which includes the technology of a fluorescence light — OralId — and liquid cytology testing — CytID — to aid in visualization of suspicious lesions within the mouth.

The OralID light will be used during routine examinations and oral cancer screenings to assist hygienists and Dr. Jessica Hall to find tissue changes within the mouth. The main goal with using the OralID is not to find cancer, but to find tissue abnormalities before they progress into cancer.

If abnormalities in the tissue are discovered, Hall is able to perform a liquid cytology test - CytID - which uses a brush to collect surface cells to be analyzed by a laboratory for a more accurate diagnosis to determine if a referral to an oral surgeon is necessary.

Legacy Dental may be reached at 920-684-0123, http://legacydentalmanitowocwi.com/ or www.facebook.com/LegacyDentalWI/.

County Bancorp announces second-quarter earnings

County Bancorp, the holding company for Investors Community Bank, a commercial bank headquartered in Manitowoc, reported net income of $1.9 million, or $0.30 diluted earnings per share, for the second quarter of 2016, compared to net income of $2.2 million, or $0.36 diluted earnings per share, for the second quarter of 2015.

After excluding the effects of $2.4 million — $1.5 million after tax — of expenses relating to the merger with Fox River Valley Bancorp, adjusted diluted earnings per share — non-GAAP — for the quarter ended June 30 were $0.55, compared to $0.36 for the quarter ended June 30, 2015.

Earnings for the second quarter of 2016 were affected by one-time merger-related expenses from the acquisition of Fox River Valley Bancorp and its wholly owned subsidiary, The Business Bank, which was completed on May 13.

During the second quarter, it continued to experience organic loan growth in addition to the commercial loans added through the acquisition.

Total assets at June 30 were $1.2 billion, an increase of $251.2 million over total assets as of March 31, and an increase of $379.7 million over total assets as of June 30, 2015. Total loans were $960.3 million at June 30, which represents a $184.5 million and $305.9 million increase since March 31 and June 30, 2015, respectively. The increases in assets and loans were due primarily to the acquisition of Fox River Valley Bancorp.

Non-performing assets increased to $26.7 million at June 30 from $22.5 million March 31. This increase was primarily the result of the acquisition of The Business Bank’s non-performing assets, which was partially offset by the sale of several other real estate owned properties.

Net income for the quarters ended June 30, 2016, and 2015 were $1.9 million and $2.2 million, respectively. This represents a return on average assets of 0.75 percent for the three months ended June 30 compared to 1.14 percent for the three months ended June 30, 2015. Net interest margin decreased to 3.32 percent for the three months ended June 30 compared to 3.34 percent for the three months ended June 30, 2015.

Net income for the six months ended June 30 was $4.1 million compared to $4.7 million for the six months ended June 30, 2015. This decrease is the result of $2.5 million in merger-related expenses that were incurred during 2016 and had a $1.5 million effect on net income, net of tax. Net interest income increased 23 percent to $15.2 million for the six months ended June 30 from $12.4 million for the six months ended June 30, 2015.

Provision for loan losses for the six months ended June 30 was $1.2 million compared to a credit provision of $0.5 million for the six months ended June 30, 2015. The increased provision resulted primarily from loan growth.

County Bancorp, Wisconsin corporation and registered bank holding company founded in May 1996, and its wholly-owned subsidiary Investors Community Bank, a Wisconsin-chartered bank, are headquartered in Manitowoc. It also serves business and retail customers throughout Wisconsin, with a focus on northeastern and central Wisconsin. Customers are served from full-service locations in Manitowoc, Appleton, Green Bay and Stevens Point and loan production offices in Darlington, Eau Claire, Fond du Lac and Sheboygan.

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