Madison-based Anchor BanCorp Wisconsin Inc. (ABCW) recorded a loss of almost $1.2 million, or 5 cents a share, in the period ended Sept. 30, which is the second quarter of Anchor's fiscal year. That compares with a loss of $78.4 million, or $3.71, in the same quarter in 2009.
The results include $2.4 million in dividends accrued and discount accreted on the Corporation's Senior Preferred Stock owned by the U.S. Treasury under the Capital Purchase Program.
Anchor's (ABCW) assets fell to $3.8 billion, as of Sept. 30, from $4.6 billion a year ago, mainly from the sale in July of four Green Bay branches to Nicolet National Bank and 11 branches sold to Royal Credit Union in June.
Total interest expense declined 41.2 percent to $21.4 million compared to $36.4 million for the quarter ended September 30, 2009.
Anchor BanCorp Wisconsin Inc. (ABCW) has also announced that it has entered into a shareholder rights plan designed to reduce the likelihood that Anchor will experience an "ownership change" under U.S. federal income tax laws. This plan is similar to rights plans adopted by other public companies with significant tax attributes.
Anchor BanCorp's (ABCW) stock is traded on the NASDAQ exchange under the symbol ABCW. AnchorBank fsb, the wholly owned subsidiary, has 57 offices. All are located in Wisconsin.
Social Media's #1 Financial Newsletter Reaching Over 105,000 Readers!
Join Our FREE Newsletter! http://stocktwiter.com/
Join us on Twitter!
Disclosure: "No Positions"