CENTRE 1 BANCORP, INC. INCREASES NET INCOME IN 2007 

On April 17, 2008, the Annual Meeting of Shareholders of Centre 1 Bancorp, Inc. was held in Beloit, Wisconsin.  Steven M. Eldred, Chairman, reported that despite a challenging environment, net income increased 10.55% from the previous year to $4.5 million. Capital levels continue to be strong and significantly exceed the regulatory requirements for a well capitalized bank. The Bank's overall credit quality remains good and reserves for loan loss are adequate to meet anticipated loan losses. Stockholder equity grew by 4.84% and total assets increased to $609 million. 

In addition, the company reported strong net income for the first quarter of 2008: $1.4 million compared to $870,000 first quarter earnings in 2007. After adjustment for a one time positive impact in 2008, core earnings increased 39%. 

"Over the years our bank has worked through some tough economic times, but we've never compromised our 125 year commitment to sound banking practices. We've continued to maintain a strong capital base and a quality loan portfolio despite the economy, which means we can continue to invest and reinvest in our communities," observes Eldred. 

Centre 1 Bancorp, Inc. is the holding company of First National Bank and Trust Company.  First National Bank and Trust Company is a diversified financial services corporation headquartered in Beloit, Wisconsin.  Chartered in 1882, First National Bank and Trust Company now serves more than 24,000 households in six communities and eleven locations in Southern Wisconsin and Northern Illinois.  Commitment to full service banking, investments, asset management and exceptional service has positioned First National Bank and Trust Company as a stateline leader in the industry.

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