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FIRST AND FINAL ADD TO ANCHOR BANCORP EARNINGS

 /FIRST AND FINAL ADD -- NY068 -- ANCHOR BANCORP EARNINGS/
 ANCHOR BANCORP, INC. AND SUBSIDIARIES
 Consolidated Statements of Financial Condition
 (In thousands)
 6/30/92 6/30/91
 ASSETS
 Cash and due from banks $ 71,835 $ 74,218
 Money market investments 277,187 788,519
 Loans, mortgage-backed securities and
 investments held for sale 175,032 34,695
 Investment securities 120,736 169,544
 Mortgage-backed securities 4,732,022 4,254,361
 Loans receivable:
 First mortgage loans 1,130,574 1,364,652
 Cooperative apartment loans 408,527 461,100
 Consumer and commercial loans 706,139 825,019
 Less allowance for credit losses (28,011) (24,027)
 Loans receivable, net 2,217,229 2,626,744
 Accrued interest receivable 48,636 60,366
 Premises and equipment 40,381 46,659
 Excess of cost over fair value of
 net assets acquired 228,698 251,353
 Cost of loan servicing rights acquired 38,010 29,011
 Other assets 68,086 79,974
 TOTAL $ 8,017,852 $ 8,415,444
 LIABILITIES, PREFERRED STOCK OF FINANCE
 SUBSIDIARIES AND STOCKHOLDERS' EQUITY
 Liabilities:
 Deposits $ 6,239,025 $ 6,706,185
 Borrowed funds 1,180,681 1,054,630
 Mortgage escrow funds 59,591 63,520
 Accrued expenses and other liabilities 56,775 88,166
 TOTAL 7,536,072 7,912,501
 Preferred stock of finance subsidiaries 75,000 150,000
 Stockholders' equity:
 Preferred stock:
 Class A preferred stock, $1.00 par
 value; 3,140,000 shares authorized,
 issued and outstanding 3,140 3,140
 Additional paid-in capital 153,860 153,860
 Total preferred stock 157,000 157,000
 Common stock:
 $0.01 par value, 70,000,000 shares
 authorized; 17,623,331 and 17,595,000
 shares issued and outstanding at
 June 30, 1992, and June 30, 1991
 respectively 176 176
 Additional paid-in capital 192,015 191,954
 Total common stock 192,191 192,130
 Retained income 58,136 7,218
 Net unrealized depreciation on certain
 marketable equity securities -- (2,858)
 Less treasury stock at cost (119,000
 common shares) (547) (547)
 Total 406,780 352,943
 TOTAL $ 8,017,852 $ 8,415,444
 ANCHOR BANCORP, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (In thousands, except per share amounts)
 Periods ended Three Months 12 Months
 June 30 1992 1991 1992 1991
 Interest income:
 Loans receivable and
 loans held for sale:
 First mortgage loans $26,850 $35,277 $119,870 $182,214
 Cooperative apartment loans 9,105 12,558 40,166 53,291
 Consumer and commercial loans 15,334 20,105 69,268 87,692
 Mortgage-backed securities
 and mortgage-backed
 securities held for sale 86,383 103,418 366,021 395,666
 Money market investments 2,127 8,399 18,924 55,539
 Investment securities and
 investment securities
 held for sale 2,636 3,886 12,894 18,917
 Total interest income 142,435 183,643 627,143 793,319
 Interest expense:
 Deposits 75,565 117,077 366,726 519,664
 Borrowed funds and preferred
 stock of finance subsidiaries 15,137 23,847 66,971 108,319
 Total interest expense 90,702 140,924 433,697 627,983
 Net interest income 51,733 42,719 193,446 165,336
 Provision for credit losses (5,100) (7,800) (20,400) (23,100)
 Net interest income after
 provision for credit losses 46,633 34,919 173,046 142,236
 Non-interest income:
 Gain (loss) on sales and
 revaluations of earning
 assets, net (8,971) 15,085 865 47,126
 Mortgage banking income 3,902 17,346 16,274 27,503
 Other 4,511 5,051 24,501 20,298
 Total non-interest income (558) 37,482 41,640 94,927
 Non-interest expense:
 General and administrative:
 Compensation and benefits 14,514 13,822 57,246 61,503
 Occupancy and equipment 4,872 5,511 19,343 23,475
 Federal deposit insurance
 premiums 3,766 4,082 15,237 15,534
 Other 9,123 7,168 33,018 35,478
 Total 32,275 30,583 124,844 135,990
 Amortization of excess of
 cost over fair value of
 net assets acquired 4,131 4,516 17,010 14,928
 Amortization of cost of loan
 servicing rights acquired 1,587 1,366 5,984 4,707
 Restructuring charges 513 340 3,718 5,980
 Total non-interest expense 38,506 36,805 151,556 161,605
 Inc. before inc. tax expense
 and extraordinary item 7,569 35,596 63,130 75,558
 Income tax expense 5,387 11,765 37,098 35,505
 Inc. bef. extraordinary item 2,182 23,831 26,032 40,053
 Extraord. item - fed. inc. tax
 benefit of net operating loss
 carryforwards 1,264 7,930 24,886 25,740
 Net income 3,446 31,761 50,918 65,793
 Div. on Class A preferred stock 3,120 3,237 12,678 13,305
 Net inc. applicable to common
 stock $ 326 $28,524 $ 38,240 $ 52,488
 Income (loss) per common share:
 Income (loss) bef. extraord.
 item $(0.05) $1.17 $0.77 $1.53
 Extraordinary item 0.07 0.45 1.42 1.47
 Net income $ 0.02 $1.62 $2.19 $3.00
 -0- 7/22/92 AA NY068
 /END FIRST AND FINAL ADD/
 (ABKR) CO: Anchor Bancorp, Inc. ST: New York IN: FIN SU: ERN


GK-TQ -- NY068A -- 2025 07/22/92 14:41 EDT
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Date:Jul 22, 1992
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