First Quarter Earnings from Baylake Corp.

Baylake Corp. reports first quarter earnings show improvement from last year. These results are for January, February, and March. Baylake reported a 2012 first quarter net profit of $1.3 million, or $0.15 per fully diluted common share, compared to net profit of $0.6 million or $0.08 per fully diluted common share for the first quarter of 2011. The first quarter results represent an increase in net income of $0.7 million, or $.07 per fully diluted common share.

“The Bank’s continued focus on expense control was a key catalyst for the earnings improvement noted in the first quarter of 2012,” said Robert J. Cera, Baylake Corp. President and Chief Executive Officer.

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