HOME BANCORP WISCONSIN, INC. (OTCMKTS:HWIS) Files An 8-K Other Events

HOME BANCORP WISCONSIN, INC. (OTCMKTS:HWIS) Files An 8-K Other Events
Item 8.01 Other Events

On April 28, 2017, the Board of Directors of Home Bancorp Wisconsin, Inc. (the “Company”) reached the conclusion that, based on recently obtained information, the Company failed to properly record certain vendor expenses incurred over the last 6 years. As a result, the Company expects to record an adjustment to reduce its Retained Earnings as of March 31, 2017 by approximately five hundred thirty thousand dollars ($530,000).
The Board believes that the accounting error arose in part from a flaw in the organization’s controls, and has committed to upgrading the Company’s financial reporting so that such errors do not recur in the future.

About HOME BANCORP WISCONSIN, INC. (OTCMKTS:HWIS)

Home Bancorp Wisconsin, Inc. is the bank holding company for Home Savings Bank (the Bank). The Company’s business activity is the ownership of the Bank’s capital stock. The Bank is a Wisconsin chartered stock savings bank. Its primary business activity consists of taking deposits from the general public and investing those deposits, together with funds generated from operations, in one- to four-family residential real estate loans, commercial and multi-family real estate loans, home equity loans and lines of credit, commercial business loans, construction loans and consumer loans. It also invests in securities consisting of securities issued or guaranteed by the United States Government agencies or government-sponsored enterprises. The Bank offers a range of deposit accounts, including money market accounts, savings accounts, individual retirement accounts and certificate of deposit accounts. The Company also uses borrowings to fund its operations.

HOME BANCORP WISCONSIN, INC. (OTCMKTS:HWIS) Recent Trading Information

HOME BANCORP WISCONSIN, INC. (OTCMKTS:HWIS) closed its last trading session up +0.05 at 13.00 with shares trading hands.

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