Anchor Bancorp Wisconsin Inc. Announces Year End Earnings.Business Editors 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)--April 26, 2000 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 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. (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 :ABCW ABCW American Baptist Churches of the West ABCW Atomic Biological Chemical Warfare ) reported earnings for the fourth quarter of $7.2 million compared to $7.1 million for the same quarter last year. Earnings for the fiscal year ended March 31, 2000 were $19.5 million versus $30.2 million last year after merger-related and other one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. charges of $10.7 million. For the quarter ended March 31, 2000, diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were $.29 which compares to $.28 for the same period in 1999. For the fiscal year ended March 31, 2000, diluted earnings per share were $.78, which compares to $1.19 for the same period in 1999 after merger-related and other one-time charges of $10.7 million. Total assets grew 9.3% for the fiscal year ended March 31, 2000. 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, remarked "I am exceptionally pleased to see such strong asset growth as we have concentrated on positioning our franchise for the future. On June June: see month. 7, we completed the merger between Anchor BanCorp and FCB See DOS FCB. (operating system) FCB - file control block. Financial Corp., Oshkosh, Wisconsin Oshkosh is a city located where the Fox River enters Lake Winnebago in Winnebago County, Wisconsin. As of the 2000 census, the city had a total population of 62,916. It has a metropolitan area of 159,972 people. . Prior to the merger we had one full service and one 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. office in the area, both of which were very successful. With that merger we added 13 full service offices in 5 Wisconsin counties which makes us a significant player in the market. We relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. our Plover plover (plŭv`ər), common name for some members of the large family Charadriidae, shore birds, small to medium in size, found in ice-free lands all over the world. office on October October: see month. 4, 1999; where we were looking to improve our presence in 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
n. 1. A native or inhabitant of Denmark. 2. A person of Danish ancestry. [Middle English Dan, from Old Norse Danr. County. It has been a year of building for the future". On March 22, 2000, the Board of Directors authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to 5%, or approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 1.2 million shares, of its outstanding common stock in the open market. Anchor 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 symbol ABCW. AnchorBank, S.S.B., the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , has 49 full service offices and one loan origination only office. All are located in Wisconsin. For more information contact: Mike Helser, CFO See Chief Financial Officer. (608) 252-1810 or Douglas J. Timmerman, President, at (608) 252-8782. Stockholders will be receiving their annual report in mid-June n. 1. the middle part of June. Noun 1. mid-June - the middle part of June period, period of time, time period - an amount of time; "a time period of 30 years"; "hastened the period of time of his recovery"; "Picasso's blue period" .
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ANCHOR BANCORP WISCONSIN INC.
FINANCIAL HIGHLIGHTS
---------------------------------------------------------------------
(Dollars in thousands - except per share amounts)
(Unaudited)
Three Months Ended Twelve Months Ended
March 31, March 31,
------------------- -------------------
2000 1999(1) 2000 1999(1)
------------------- -------------------
Operations Data
Net interest income $ 20,156 $ 20,236 $ 82,672 $ 79,774
Provision for loan losses 150 299 1,306 1,017
Net gain on sale of loans 182 1,562 2,010 7,354
Other non-interest income 3,827 3,054 11,707 13,873
Non-interest expenses 12,410 13,100 59,985 51,136
Income before taxes 11,605 11,453 35,098 48,848
Income taxes 4,414 4,334 15,596 18,607
Net income 7,191 7,119 19,502 30,241
Selected Financial Ratios(2)
Yield on earning assets 7.59% 7.47% 7.57% 7.68%
Cost of funds 4.89 4.65 4.79 4.84
Interest rate spread 2.70 2.82 2.78 2.84
Net interest margin 2.94 3.15 3.10 3.15
Return on average assets 1.01 1.08 0.71 1.16
Return on average equity 13.04 13.08 8.92 14.44
Average equity to
average assets 7.74 8.26 7.97 8.04
Non-interest expenses to
average assets 1.74 1.99 2.19 1.96
Per Share Data
Basic earnings per share $ 0.30 $ 0.29 $ 0.80 $ 1.26
Diluted earnings per share 0.29 0.28 0.78 1.19
Dividends per share 0.07 0.05 0.25 0.20
Book Value per share 9.02 9.24 N/A N/A
March 31, Percent
---------------------
2000 1999 Change
--------------------- ---------
Financial Condition Data (Thousands)
Total assets $ 2,911,152 $ 2,663,718 9.3%
Loans receivable, net
Held for sale 1,764 18,080 (90.2)
Held for investment 2,302,721 2,111,566 9.1
Investment securities available
for sale 34,936 40,256 (13.2)
Investment securities held to
maturity 51,270 47,466 8.0
Mortgage-related securities
available for sale 57,276 66,956 (14.5)
Mortgage-related securities held
to maturity 243,243 191,533 27.0
Deposits 1,897,369 1,835,416 3.4
Borrowings 756,859 572,959 32.1
Stockholders' equity 217,215 220,287 (1.4)
Allowance for loan losses 24,404 24,027 1.6
Non-performing assets 5,577 6,400 (12.9)
--------------------------------------------------
(1) In June, 1999 the Corporation merged with FCB Financial Corp.
(FCBF) through an exchange of stock. The transaction was
accounted for as a pooling of interests, with the previously
reported results of operations being restated for all periods
shown.
(2) Annualized when appropriate.
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ANCHOR BANCORP WISCONSIN INC.
CONSOLIDATED BALANCE SHEETS
----------------------------------------------------------------------
(Unaudited)
March 31,
---------------------------
2000 1999
---------------------------
(In Thousands)
Assets
Cash and cash equivalents $ 83,708 $ 63,976
Investment securities available for sale 34,936 40,256
Investment securities held to maturity 51,270 47,466
Mortgage-related securities available
for sale 57,276 66,956
Mortgage-related securities held to
maturity 243,243 191,533
Loans receivable, net
Held for sale 1,764 18,080
Held for investment 2,302,721 2,111,566
Foreclosed properties and repossessed
assets, net 272 1,710
Real estate held for development and sale 34,063 30,075
Office properties and equipment 25,712 24,879
Other assets 76,187 67,221
------------ ------------
Total assets $ 2,911,152 $ 2,663,718
============ ============
Liabilities and Stockholders' Equity
Deposits $ 1,897,369 $ 1,835,416
Borrowings 756,859 572,959
Advance payments by borrowers for taxes
and insurance 8,213 10,360
Other liabilities 31,496 24,696
------------ ------------
Total liabilities 2,693,937 2,443,431
------------ ------------
Preferred stock, $.10 par value, 5,000,000
shares authorized, none outstanding - -
Common stock, $.10 par value, 100,000,000
shares authorized, 25,363,339 and
24,998,648 shares issued, respectively 2,536 2,500
Additional paid-in capital 56,496 80,199
Retained earnings, substantially restricted 179,211 168,458
Less: Treasury stock (1,275,192 shares
and 1,166,483 shares) (18,438) (29,811)
Borrowings of Employee Stock Ownership
Plan - (689)
Common stock purchased by benefit plans (923) (1,370)
Accumulated other comprehensive
income (loss) (1,667) 1,000
------------ ------------
Total stockholders' equity 217,215 220,287
------------ ------------
Total liabilities and
stockholders' equity $ 2,911,152 $ 2,663,718
============ ============
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ANCHOR BANCORP WISCONSIN INC.
CONSOLIDATED STATEMENTS OF INCOME
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(Unaudited)
Three Months Ended Twelve Months Ended
March 31, March 31,
------------------- -------------------
2000 1999 2000 1999
------------------- -------------------
(In Thousands)
Interest income:
Loans $ 45,902 $ 41,827 $ 177,168 $ 168,779
Mortgage-related
securities 4,080 4,228 15,937 15,671
Investment securities 2,030 1,922 8,960 9,859
--------- --------- --------- ---------
Total interest income 52,012 47,977 202,065 194,309
Interest expense:
Deposits 21,057 19,936 81,479 82,247
Notes payable and other 10,799 7,805 37,914 32,288
--------- --------- --------- ---------
Total interest expense 31,856 27,741 119,393 114,535
--------- --------- --------- ---------
Net interest income 20,156 20,236 82,672 79,774
Provision for loan losses 150 299 1,306 1,017
--------- --------- --------- ---------
Net interest income after
provision for loan
losses 20,006 19,937 81,366 78,757
Non-interest income:
Service charges on
deposits 1,071 1,205 4,877 4,977
Net gain on sale of loans 182 1,562 2,010 7,354
Other income 2,756 1,849 6,830 8,896
--------- --------- --------- ---------
Total non-interest income 4,009 4,616 13,717 21,227
Non-interest expenses:
Compensation 6,839 7,647 27,459 28,746
Occupancy 1,010 1,091 4,196 4,303
Federal insurance premiums 98 277 905 1,052
Merger-related (203) - 8,297 -
Goodwill - 70 1,761 279
Other 4,666 4,015 17,367 16,756
--------- --------- --------- ---------
Total non-interest
expenses 12,410 13,100 59,985 51,136
--------- --------- --------- ---------
Income before income
taxes 11,605 11,453 35,098 48,848
Income taxes 4,414 4,334 15,596 18,607
--------- --------- --------- ---------
Net income $ 7,191 $ 7,119 $ 19,502 $ 30,241
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