If you purchased stock in a Sturgeon Bay-based bank one year ago you would have more than doubled your money in 12 months.
Robert Cera, president of Baylake Bank, told members of the Sturgeon Bay Rotary Club a share of stock that sold for $4 one year ago was valued at $8.90 at the close of business on Wednesday. Cera said 2012 was a good year for the bank and emphasized Sturgeon Bay will always be its headquarters.
According to Cera, the economy remains fragile. He said unemployment will continue to be a problem and rising gas prices will eat up consumer disposable income, further jeopardizing economic recovery. Cera has been at Baylake Bank for seven years. Future expansion, he predicted, would be to the south following the corridor of Interstate 43 from Green Bay to Milwaukee.