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Anchor Bancorp Wisconsin Inc. Announces Fourth Quarter And Fiscal Year Results

MADISON, Wis., May 24, 2013 (GLOBE NEWSWIRE) -- Anchor BanCorp Wisconsin Inc. (OTC Market:ABCW) today announced a net loss available to common equity of $17.5 million, or $0.82 per common share, for the three months ended March 31, 2013. This compares to a net loss available to common equity of $15.1 million, or $0.71 per common share and $7.4 million, or $0.35 per common share, for the three months ended December 31, 2012 and March 31, 2012, respectively. For the fiscal year ended March 31, 2013, net loss available to common equity was $48.1 million, compared to $50.4 million in the prior year.

Financial Highlights

  • AnchorBank, fsb (the "Bank) remains adequately capitalized 1 for the eleventh consecutive quarter.
  • Tier 1 leverage and total risk-based capital ratios of 4.53 percent and 9.02 percent each decreased by 31 basis points during the quarter but increased 2 and 60 basis points, respectively, over the past twelve months.
  • Total assets fell during the past twelve months, decreasing by $421.9 million or 15.1 percent to $2.4 billion at March 31, 2013.
  • Non-performing loans decreased 18.8 percent to $118.8 million at March 31, 2013 from $146.4 million at December 31, 2012 and 47.2 percent from $224.9 million at March 31, 2012.
  • Net charge-offs decreased by $7.1 million in the current quarter to $4.6 million from $11.7 million in the quarter ending December 31, 2012.
  • Gross return on mortgage banking totaled $5.3 million in the current quarter, a decrease of $2.5 million, or 32.1 percent, from $7.8 million in the preceding quarter; and $2.5 million lower than the $7.8 million reported in the same period a year ago.
  • Cost of funds declined 4 basis points to 1.35 percent in the quarter ending March 31, 2013 compared to 1.39 percent in the preceding quarter, and declined 37 basis points compared to 1.72 percent in the year ago quarter as the Bank continued to carefully manage deposit pricing.
  • Deposit mix improved again this quarter as lower cost checking, savings, money market and escrow funds represent 67.5 percent of total deposits at March 31, 2013, up from 64.7 percent at December 31, 2012 and 57.2 percent at March 31, 2012.


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