Ridgestone Financial Services finished the year with record earnings of $7.1 million in 2013, up from $2.0 million in 2012.
The bank’s earnings per share were $2.12 for 2013. The bank’s fourth quarter earnings were $1.4 million, up from $1.2 million for the same period a year earlier.
“I am very proud of the efforts of our team this year,” said Bruce Lammers, president and chief executive officer of Ridgestone Bank. “The experience and dedication of our specialized staff allows us to continue focusing on government guaranteed loans for new and existing customers. This has resulted in the origination of $281.1 million in new government guaranteed loans in 2013, compared with $202.6 million in 2012.”
Ridgestone Bank is a privately-held bank with locations in Brookfield, Wis., and Schaumburg, Ill., as well as lending teams in Green Bay and Indianapolis.