Anchor BanCorp Wisconsin Inc. second quarter earnings.MADISON Madison, cities, United States Madison. 1 City (1990 pop. 12,006), seat of Jefferson co., SE Ind., on the Ohio River; settled c.1806, inc. 1838. It is a port of entry and a tobacco marketing center. , Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--Oct. 25, 1995--Anchor BanCorp Wisconsin Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee Inc. announced net income of $3.6 million for the quarter and $7.2 million for the six month period ended September September: see month. 30, 1995. This compares to $3.7 million and $7.2 million for the same periods in 1994. Primary per share earnings were $.81 per share for the quarter and $1.68 for the six month period ended September 30, 1995. This compares to $.85 for the quarter and $1.62 for the same periods in 1994. Total assets grew 15.3% to $1.70 billion as of September 30, 1995 compared to $1.47 billion at the same time last year. "Our growth targets are being met through a combination of consumer credit demand and expansion of our market area," said Douglas Douglas, city, Isle of Man Douglas, city (1991 pop. 19,950), capital of the Isle of Man, Great Britain. It is a popular resort, connected by rail to Ramsey and Port Erin, on the Irish Sea. Tourism is the chief industry. J. Timmerman, President. Yield on earning assets Earning Assets Any income-earning asset owned by a company. Notes: These assets are generally interest-bearing accounts, bonds, and securities available for sale. See also: Asset, Asset Valuation, Earnings, Net Interest Margin increased to 7.87% for the quarter ended September 30, 1995 from 7.38% for the same period last year. "This is the first full quarter that includes the combination of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Equity, Stevens Point, Wisconsin Stevens Point, Portage County, is located in the central part of the U.S. State of Wisconsin. It is the largest city and the county seat. As of the 2000 US Federal Census, the population was 24,551. The city was incorporated in 1858. into AnchorBank. The consolidation is complete and we look forward to continued growth in the central Wisconsin Central Wisconsin is a colloquial term for a region of Wisconsin. This region generally coincides with the Wausau-Rhinelander Television Market. Counties in Central Wisconsin
As previously announced on October October: see month. 3, 1995, the Board of Directors approved a five-for-four stock split payable as a stock dividend to stockholders of record October 13, 1995. Anchor anchor, device cast overboard to secure a ship, boat, or other floating object by means of weight, friction, or hooks called flukes. In ancient times an anchor was often merely a large stone, a bag or basket of stones, a bag of sand, or, as with the Egyptians, a BanCorp's stock is traded on the Over-the-Counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. under the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on symbol ABCW ABCW American Baptist Churches of the West ABCW Atomic Biological Chemical Warfare . AnchorBank, S.S.B., the wholly-owned subsidiary, has 32 full service offices and three loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. only offices which are located primarily in southern and western Wisconsin. For more information, contact: William Klein William Klein (born April 19, 1928) is a photographer and filmmaker. Though born in New York City and educated at City College of New York, Klein is predominantly active in France. , Vice President-Investor Relations at (608) 252-1810 or Douglas J. Timmerman, President, at (608) 252-8782. -0-
ANCHOR BANCORP WISCONSIN INC.
FINANCIAL HIGHLIGHTS
(Dollars in thousands - except per share amounts)
(Unaudited)
Three Months Ended Six Months Ended
September 30, September 30,
___________________ ________________
1995 1994 1995 1994
____ ____ ____ ____
OPERATIONS DATA:
Net interest income $12,793 $12,762 $24,951 $25,133
Provision for loan losses 150 377 325 728
Net gain (loss) on sale
of loans 104 18 236 (108)
Other non-interest income 2,251 1,933 4,158 3,876
Non-interest expenses 9,439 8,247 17,871 16,404
Income before taxes 5,559 6,089 11,149 11,769
Income taxes 1,968 2,351 3,949 4,589
Net income 3,591 3,738 7,200 7,180
SELECTED FINANCIAL RATIOS(1): Yield on earning assets 7.87% 7.38% 7.83% 7.31% Cost of funds 4.98 3.95 4.88 3.89 Interest rate spread 2.89 3.43 2.95 3.42 Net interest margin 3.17 3.67 3.22 3.67 Return on average assets 0.86 1.05 0.90 1.02 Return on average equity 11.68 14.01 12.13 13.46 Average equity to average assets 7.38 7.48 7.43 7.58 Non-interest expenses to average assets 2.26 2.31 2.24 2.33 PER SHARE DATA: Primary earnings per share $ 0.81 $ 0.85 $ 1.68 $ 1.62 Fully diluted earnings per share 0.81 0.85 1.67 1.62 Book value per share 29.30 25.62 N/A N/A
September 30, Percent
____________
1995 1994 Change
____ ____ _______
FINANCIAL CONDITION DATA:
Total assets $1,697,001 $1,471,364 15.3%
Loans receivable, net 1,288,827 1,185,350 8.7
Securities available for sale:
Investment securities 46,864 22,673 106.7
Mortgage-related securities 32,672 43,139 (24.3)
Securities held to maturity:
Investment securities 100 -- 100.0
Mortgage-related securities 209,371 133,425 56.9
Deposits 1,203,661 1,068,690 12.6
Borrowings 332,445 260,850 27.4
Stockholders' equity 122,975 106,855 15.1
Allowance for loan losses 23,393 22,806 2.6
Non-performing assets 13,501 11,718 15.2
(1) Annualized when appropriate.
ANCHOR BANCORP WISCONSIN INC.
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
September 30, March 31,
1995 1995
_____________ ___________
(In Thousands)
ASSETS
Cash and cash equivalents $47,609 $28,865
Securities available for sale:
Investment securities 46,864 23,532
Mortgage-related securities 32,672 36,571
Securities held to maturity:
Investment securities 100 100
Mortgage-related securities 209,371 123,830
Loans receivable, net 1,288,827 1,234,071
Foreclosed properties and repossessed
assets, net 6,036 7,116
Real estate held for development and
sale 3,807 2,581
Office properties and equipment 19,084 17,206
Other assets 42,631 37,045
__________ __________
Total assets $1,697,001 $1,510,917
__________ __________
__________ __________
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits $1,203,661 $1,098,210
Borrowings 332,445 280,100
Advance payments by borrowers for
taxes and insurance 22,379 8,751
Other liabilities 15,541 12,669
__________ __________
Total liabilities 1,574,026 1,399,730
Preferred stock, $.10 par value,
5,000,000 shares authorized,
none outstanding - -
Common stock, $.10 par value,
20,000,000 shares authorized,
5,000,000 shares issued 500 500
Additional paid-in capital 50,168 47,763
Retained earnings, substantially
restricted 94,161 88,094
Less: Treasury stock (802,424 shares
and 948,936 shares) (18,363) (21,790)
Deferred compensation due
employees (1,856) (1,200)
Common stock purchased by
recognition plans (1,556) (1,534)
Unrealized losses, net of tax (79) (646)
__________ __________
Total stockholders' equity 122,975 111,187
__________ __________
Total liabilities and stockholders'
equity $1,697,001 $1,510,917
__________ __________
__________ __________
ANCHOR BANCORP WISCONSIN INC.
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
Three Months Ended Six Months Ended
September 30, September 30,
___________________ _________________
1995 1994 1995 1994
____ ____ ____ ____
(In Thousands)
Interest income:
Loans $26,731 $22,346 $51,958 $43,581
Mortgage-related
securities 3,966 2,723 6,728 5,367
Investment
securities 1,091 554 1,892 1,124
Total interest ________ ________ ________ ________
income 31,788 25,623 60,578 50,072
Interest expense:
Deposits 13,853 9,863 26,150 19,572
Notes payable
and other 5,142 2,998 9,477 5,367
________ ________ ________ ________
Total interest
expense 18,995 12,861 35,627 24,939
________ ________ ________ ________
Net interest
income 12,793 12,762 24,951 25,133
Provision for
loan losses 150 377 325 728
________ ________ ________ ________
Net interest
income after
provision for
loan losses 12,643 12,385 24,626 24,405
Non-interest income:
Service charges on
loans and deposits 1,732 1,298 3,104 2,599
Net gain (loss)
on sale of loans 104 18 236 (108)
Other income 519 635 1,054 1,277
________ ________ ________ ________
Total non-interest
income 2,355 1,951 4,394 3,768
Non-interest expenses:
Compensation 4,866 4,364 9,231 8,702
Occupancy 709 643 1,340 1,283
Federal insurance
premiums 671 617 1,283 1,230
Other 3,193 2,623 6,017 5,189
________ ________ ________ ________
Total non-
interest expenses 9,439 8,247 17,871 16,404
________ ________ ________ ________
Income before
income taxes 5,559 6,089 11,149 11,769
Income taxes 1,968 2,351 3,949 4,589
________ ________ ________ ________
Net income $3,591 $3,738 $7,200 $7,180
________ ________ ________ ________
________ ________ ________ ________
CONTACT: Anchor BanCorp Wisconsin Inc., Madison William Klein, 608/252-1810 Douglas J. Timmerman, 608/252-8782 |
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