County Bancorp, Inc. is a Wisconsin corporation founded in May 1996 and is
registered as a bank holding company under the Bank Holding Company Act of 1956,
as amended (the “BHCA”). Our primary activities consist of holding
the stock of our wholly-owned subsidiary bank, Investors Community Bank (the
“Bank”), and providing a wide range of banking and related business
activities through the Bank and our other subsidiaries.
Investors Community Bank is a Wisconsin state bank originally chartered in
1997, and headquartered in Manitowoc, Wisconsin. The Bank is an independent
community bank offering a full range of financial services focusing on the needs
of agricultural businesses statewide, with a primary focus on dairy-related
lending with lending relationships in 61 of Wisconsin’s 72 counties. We
also serve business and retail customers throughout Wisconsin but primarily
are focused in northeastern and central Wisconsin. Our customers are served
from our full-service branches in Manitowoc and Stevens Point, and our loan
production offices in Darlington, Eau Claire, Fond du Lac, and Sheboygan.
In addition to the Bank, we have three wholly-owned subsidiaries, County Bancorp
Statutory Trust II and County Bancorp Statutory Trust III, which are Delaware
statutory trusts, and County Acquisition LLC, which is a Wisconsin limited liability
company formed solely to facilitate the merger with Fox River Valley Bancorp,
Inc., as described in more detail below. The Bank is the sole shareholder of
ICB Investments Corp, a wholly-owned Nevada subsidiary, and is the sole member
of Investor Insurance Services, LLC and ABS 1, LLC, which are both Wisconsin
limited liability companies.
The Bank provides a wide range of consumer and commercial banking services
to individuals, businesses, and industries. The basic services offered by the
Bank include: demand interest bearing and noninterest bearing accounts, money
market deposit accounts, NOW accounts, time deposits, remote merchant deposit
capture, internet banking, cash management services, safe deposit services,
credit cards, debit cards, direct deposits, notary services, night depository,
cashiers’ checks, drive-in tellers, banking by mail, and a full range
of consumer loans, both collateralized and uncollateralized. In addition, the
Bank makes secured and unsecured commercial loans as well as loans secured by
residential and commercial real estate, and issues stand-by letters of credit.
The Bank provides automated teller machine, or ATM, cards and is a member of
the Pulse and Cirrus ATM networks thereby enabling customers to utilize the
convenience of ATM access nationwide and internationally.
The revenues of the Bank are primarily derived from interest on loans and fees
received in connection with loans, interest and dividends on its investment
securities, and non-interest income primarily generated from loan sales and
loan servicing rights. Most of the Bank’s investment portfolio is held
in its wholly owned subsidiary of ICB Investment Corp. The principal sources
of funds for the Bank’s lending activities are its deposits (primarily
consumer deposits and brokered deposits), loan repayments, and income on and
proceeds from the sale of investment securities. The Bank’s principal
expenses are interest paid on deposits and operating and general administrative
expenses. The Bank also generates non-interest income from Investors Insurance
Services, LLC, which is a wholly-owned subsidiary of the Bank. Investors Insurance
Services, LLC, provides crop insurance and milk margin products to the agricultural
sector of Wisconsin.
As is the case with financial institutions generally, our operations are materially
and significantly influenced by general economic conditions and by related monetary
and fiscal policies of financial institution regulatory agencies, including
the Board of Governors of the Federal Reserve System (the “Federal Reserve”),
the Federal Deposit Insurance Corporation (“FDIC”) and the Wisconsin
Department of Financial Institutions (“WDFI”) Banking Division.
Deposit flows and costs of funds are influenced by interest rates on competing
investments and general market interest rates. Lending activities are affected
by the demand for financing of real estate and other types of loans, which in
turn is affected by the interest rates at which such financing may be offered
and other factors affecting local demand and availability of funds.
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