8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 21, 2015

COUNTY BANCORP, INC.

(Exact name of Registrant as Specified in Its Charter)

Wisconsin	001-36808	39-1850431
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
860 North Rapids Road, Manitowoc, WI		54221
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (920) 686-9998

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Financial Information

Item 2.02 Results of Operations and Financial Condition.

On October 21, 2015, County Bancorp, Inc. issued a press release setting forth certain information concerning its results of operations for the third quarter ended September 30, 2015.  A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to liability under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933 or the Exchange Act.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The exhibits shall be deemed to be filed or furnished, depending on the relevant item requiring such exhibit, in accordance with the provisions of Item 601 of Regulation S-K (17 CFR 229.601)and Instruction B.2 to this form.

Exhibit Number	Description
99.1	Press release of County Bancorp, Inc. dated October 21, 2015

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Company Name
Date:  October 21, 2015	By:	/s/ Mark A. Miller
		Mark A. Miller
		Secretary

Exhibit Index

Exhibit Number	Description
99.1	Press release of County Bancorp, Inc. dated October 21, 2015

EX-99.1

Exhibit No. 99.1

FOR IMMEDIATE RELEASE

COUNTY BANCORP, INC.ANNOUNCES 7.6% LOAN GROWTH AND

THIRD QUARTER 2015 NET INCOME OF $3.3 MILLION

Q3 Highlights

· Net income of $3.3 million

· Net loan growth of $49.7 million

· Return on average assets of 1.63%

· $867 thousand negative provision for loan losses

Manitowoc,Wisconsin,October 21,2015–County Bancorp, Inc.(NASDAQ: ICBK)today reported third quarter 2015 net income of $3.3 million.  This represents an increase of $1.0 million compared to the net income of the third quarter of 2014.  Net income for the nine months ended September 30, 2015 was $8.1 million compared to $6.1 million for the same period in 2014.  This represents a return on average assets of 1.36% for the nine months ended September 30, 2015 compared to 1.10% for the nine months ended September 30, 2014.  

“We are very pleased with our third quarter results, which were highlighted by solid loan growth quarter-over-quarter and year-over-year, primarily in the agricultural space,” said Timothy J. Schneider, President of County Bancorp, Inc. and CEO of its wholly-owned bank subsidiary, Investors Community Bank.  “Asset quality continues to improve and, despite growth in our loan portfolio, we were able to have a recovery of loan losses for the quarter.  Additionally, in this highly competitive market, we have been able to improve our net interest margin.  As a part of our strategic focus, we continue to seek talent in the business banking sector and evaluate acquisition opportunities.”

Totalassetsof $844.8 million at September 30, 2015 increased $63.7 million, or 8.2%, over total assets as of June 30, 2015 of $781.1 million.  Total loans increased $49.6 million, or 7.6%, to $704.0 million at September 30, 2015 from $654.4 million at June 30, 2015.

Non-performing assets decreased 31.4% to $14.2 million at September 30, 2015 from $20.7 million at September 30, 2014, and decreased 22.5% from June 30, 2015 of $18.3 million.  This improvement year-over-year was primarily due to other real estate owned, which declined from $8.1 million at September 30, 2014 to $3.0 million at September 30, 2015.  The improvement over the previous quarter was the result of a 26.0% decrease in nonaccrual loans from $15.1 million at June 30, 2015, to $11.2 million at September 30, 2015.

Net income for the quarters ended September 30, 2015 and 2014 was $3.3 million and $2.3 million, respectively.  The increase in net income of $1.0 million between the third quarters of 2014 and 2015 is primarily the result of $0.9 million recovery of loan losses recognized as a credit to income during the third quarter of 2015.  As the result of that recovery and increased net interest income, diluted earnings per share increased to $0.55 for the three months ended September 30, 2015 from $0.47 for the three months ended September 30, 2014.  Return on average assets was 1.63% for the three months ended September 30, 2015 compared to 1.22% for the three months ended September 30, 2014.  Net interest margin increased to 3.49% for the three months ended September 30, 2015 compared to 3.27% for the three months ended September 30, 2014.

Net income for the nine months ended September 30, 2015 was $8.1 million compared to $6.1 million for the nine months ended September 30, 2014.  This represents year-over-year growth of 31.8% which was primarily driven by a $2.2 million increase in net interest income and a $1.3 million recovery of loan losses, which was partially offset by an increase in income tax expense.

AboutCounty Bancorp,Inc.

County Bancorp, Inc., a Wisconsin corporation and registered bank holding company founded in May 1996, and our wholly-owned subsidiary Investors Community Bank, a Wisconsin-chartered bank, are headquartered in Manitowoc, Wisconsin.  The state of Wisconsin is often referred to as “America’s Dairyland,” and one of the niches we have developed is providing financial services to agricultural businesses statewide, with a primary focus on dairy-related lending.  We also serve business and retail customers throughout Wisconsin, with a focus on Northeastern and Central Wisconsin.  Our customers are served from our full-service locations in Manitowoc and Stevens Point and our loan production offices in Darlington, Eau Claire, and Fond du Lac.

Forward-LookingStatements

This press release includes "forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Factors that may cause actual results to differ materially from those made or suggested by the forward-looking information contained in this press release include those identified in County Bancorp, Inc.’s most recent annual report on Form 10-K and subsequent SEC filings.  Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

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Investor Relations Contact

Timothy J. Schneider

CEO, Investors Community Bank

Phone: (920) 686-5604

Email: tschneider@investorscommunitybank.com

County Bancorp, Inc.

ConsolidatedFinancialSummary(Unaudited)