Anchor Bancorp, the holding company for Anchor Bank, has reported net loss available to common equity of $12.05 million, or $0.57 loss per share, for the second quarter ended September 30, 2012, compared to net loss available to common equity of $19.59 million, or $0.92 loss per share, for the same quarter ended September 30, 2011.
Net interest income for the second quarter ended September 30, 2012 was $16.06 million, compared to $18.5 million for the same quarter ended September 30, 2011.
Net loss available to common equity for the six months ended September 30, 2012 was $15.47 million, or $0.73 loss per share, compared to net loss available to common equity of $27.75 million, or $1.31 loss per share, for the same period ended September 30, 2011.
Net interest income for the six months ended September 30, 2012 was $32.46 million, compared to $40.02 million for the same period ended September 30, 2011.
Chris Bauer, president and CEO of the Corporation and the Bank, said: "We are pleased to report our ninth consecutive quarter of capital ratios above the threshold to be considered adequately capitalized. This is the first time since March of 2009 that our total risk-based capital ratio at the Bank has exceeded 9%.
"The improvement in Bank capital ratios is primarily due to the tremendous effort expended to resolve issues in the credit portfolios and the resultant decrease in assets. We have recently developed and are implementing strategies to increase Bank profitability by slowing asset runoff to improve our net interest margin."
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