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Article Excerpt
MADISON, Wis., Nov. 8 /PRNewswire-FirstCall/ -- Anchor BanCorp Wisconsin Inc. announced net income of $9.7 million for the quarter ended September 30, 2006, as compared to $10.8 million for the same period last year. For the six month period ended September 30, 2006 net income was $20.3 million as compared to $22.3 million for the same period the previous year.
Diluted earnings per share were $.44 for the quarter ended September 30, 2006, as compared to $.48 for the same quarter last year. For the six month period ended September 30, 2006 fully diluted earnings per share were $.93 versus $1.00 a year ago. The Corporation's 17 cent quarterly per share dividend is payable November 15, 2006 to shareholders of record as of November 1, 2006.
"The slowing of the housing market as well as the overall softening of the economy, along with an increase in non-performing assets has led us to the conclusion that an increase in our loan loss provision was prudent at this time," commented Douglas J. Timmerman, President, Chairman and CEO. "As such, we raised our provision for loan losses to $2.6 million during the quarter, an increase of $1.1 million versus the same time last year," continued Timmerman.
Total assets grew...
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