Wisconsin Community Bank: Earns USDA homeownership award

CONTACT:

Tom Jensen, Communications Coordinator

563.587.4072 or tjensen@htlf.com

Bank contributed to more than 3,700 home purchases in rural communities

MADISON, Wis. – Sept. 17, 2010– Wisconsin Community Bank has received the Million Dollar Lender Award from the U.S. Department of Agriculture. The award recognizes lenders who make a significant contribution in assisting Wisconsin rural residents achieve homeownership in partnership with the USDA Rural Development and Guaranteed Rural Housing program.

Wisconsin Community Bank’s participation in the program has contributed to more than 3,700 home purchases in rural communities in Wisconsin. In addition, the bank utilized more than $1 million of the program’s funds in fiscal year 2009.

“We’re honored to receive this award,” said Roger Erickson, senior vice president of residential lending. “Our entire team works hard to help people throughout Wisconsin experience the pride of ownership and, maybe most importantly, help grow the communities we serve.”

The GRH program assists homebuyers in obtaining a 30-year fixed rate mortgage without the down payment or monthly mortgage insurance typically required by conventional lenders and programs. GRH loans are financed through participating lenders and are guaranteed by USDA Rural Development. The amount of the mortgage is limited by the applicant’s repayment ability and can be made for up to 102 percent of the appraised value. There are no restrictions on the size or design of the home. Loan closing costs and repairs can often be financed with the home purchase. Eligible areas include rural regions and communities under 20,000 in population and not part of a larger urban area.

“By working in partnership with lending institutions across Wisconsin, thousands of rural families have become homeowners,” Wetuski said. “Our partnership with Wisconsin Community Bank is highly valuable. And we look forward to sharing continued success with them as we provide affordable homeownership opportunities.”

Visit http://www.thewcb.com for more information on Wisconsin Community Bank or http://www.rurdey.usda.gov/wi to learn more about USDA housing programs.

About Wisconsin Community Bank

Wisconsin Community Bank, a member of Heartland Financial USA, Inc., is a community bank with assets of more than $456 million. The bank operates offices in Fitchburg, Cottage Grove, Madison, Middleton and Monroe. It’s headquartered at 580 N. Main St. in Cottage Grove, Wis., 53527. Visit http://www.thewcb.com or call (608) 839-9210 to learn more. Wisconsin Community Bank offers a unique composition of credit and deposit services. The bank is a member of FDIC and an Equal Housing Lender.