News Column

BRIEF: Anchor BanCorp reverses losses for the first quarter

May 9, 2014

By Judy Newman, The Wisconsin State Journal



May 09--Anchor BanCorp Wisconsin, parent company of AnchorBank, Madison, reported net income of $1.9 million, or 21 cents a share, for the first quarter that ended March 31, compared with a net loss of $14 million, or 66 cents a share, for the 2013 first quarter.

The results, affected by the bank company's $175 million recapitalization and bankruptcy reorganization last September, do not include preferred stock, which no longer exists.

If preferred stock were included, Anchor's loss for the quarter that ended March 31, 2013, was $17.5 million, or 82 cents a share.

Total assets held steady at $2.1 billion. Total nonperforming assets -- which includes loans and foreclosed properties not expected to be fully repaid -- were $102.1 million as of March 31, down from $203.1 million a year ago.

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(c)2014 The Wisconsin State Journal (Madison, Wis.)

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Source: Wisconsin State Journal (Madison, WI)


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