Anchor BanCorp Wisconsin Inc. ("Anchor" or the “Company”)
(NASDAQ:ABCW), and its wholly-owned subsidiary, AnchorBank, fsb
(the “Bank”), today announced financial results for the fourth
quarter and fiscal year ended December 31, 2015. The Company
concluded a profitable year with net income of $137.8 million, or
$14.57 per diluted common share. Net income for the year includes
an income tax benefit, net of current year provision, of $89.4
million or $9.46 per diluted share, primarily resulting from the
reversal of substantially all of the Company's net deferred tax
asset valuation allowance. Pre-tax net income for the year ended
December 31, 2015 of $48.3 million, or $5.11 per diluted share,
included a negative provision for loan losses of $29.5 million, or
$3.12 per diluted share, and $3.8 million in one-time costs
associated with several previously announced operational efficiency
initiatives.
“This year's outstanding results build on over two years of
profitability, proving our ability to carryout our business plan.
We have executed on business development strategies, improved
operational efficiencies and continued our focus on loan quality,
allowing us to reduce our allowance for loan loss while maintaining
solid loan loss reserve levels, all of which have allowed for the
reversal of substantially all of the deferred tax asset valuation
allowance,” said Chris Bauer, President and CEO.
The Company also recorded a profitable quarter with net income
of $8.6 million, or $0.91 per diluted common share. Net income for
the quarter includes a one-time income tax benefit of $1.7 million,
resulting from the partial reversal of the Company's net deferred
tax asset valuation allowance. Pre-tax income of $11.7 million, or
$1.24 per diluted share, includes a negative provision for loan
losses of $5.1 million, or $0.54 per diluted share.
Subsequent to the year ended December 31, 2015, on January 12,
2016, Evansville, Ind. based Old National Bancorp (NASDAQ:ONB)
("Old National") and the Company jointly announced the execution of
a definitive agreement under which Old National will acquire the
Company through a stock and cash merger.
"The announcement of the partnership with Old National Bank is a
direct result of Anchor's soundness, profitability and growth, and
reflects the commitment of our leadership to provide high-quality,
innovative banking services in the communities we serve. The
partnership is a culmination of the tremendous turnaround at Anchor
and a win-win for our communities, customers, employees and
shareholders. Old National Bank has a strong history of growth and
we are proud to become their newest partner,” Bauer noted.
Highlights for the year ended December 31, 2015 include:
- Net income was $137.8 million for the year ended December 31,
2015, compared to $14.6 million for the year ended December 31,
2014, which included an income tax benefit, net of current year
provision, of $89.4 million primarily resulting from the reversal
of substantially all of the Company's net deferred tax asset
valuation allowance.
- Pre-tax net income was $48.3 million for the year ended
December 31, 2015, compared to $14.6 million for the year ended
December 31, 2014.
- Diluted earnings per share was $14.57 for the year ended
December 31, 2015, compared to $1.60 per diluted share for the year
ended December 31, 2014.
- Net interest income was $68.8 million for the year ended
December 31, 2015, compared to $71.2 million for the year ended
December 31, 2014.
- Yield on interest-earning assets of 3.59% for the year ended
December 31, 2015 decreased 15 basis points compared to 3.74% for
the year ended December 31, 2014. Cost of funds at 0.24% for the
year ended December 31, 2015, increased 1 basis point from 0.23%
for the year ended December 31, 2014.
- Negative loan loss provision for the year ended December 31,
2015 was $29.5 million, compared to negative provision of
$4.6 million for the year ended December 31, 2014. The increase in
negative provision was driven by improved performance trends and
loan quality.
- Non-interest income was $35.0 million for the year ended
December 31, 2015, compared to $30.5 million for the year ended
December 31, 2014. The improvement was primarily related to
increased loan fees, net gain on sale of loans and net gain on sale
of other real estate owned.
- Non-interest expense was $84.9 million for the year ended
December 31, 2015, compared to $91.7 million for the year ended
December 31, 2014. The change was driven by a decrease in other
real estate owned expense.
Highlights for the quarter ended December 31, 2015 include:
Net Income
- Net income was $8.6 million for the quarter ended December 31,
2015, compared to $15.5 million and $5.1 million for the quarters
ended September 30, 2015 and December 31, 2014, respectively.
- Diluted earnings per share was $0.91 for the quarter ended
December 31, 2015, compared to $1.62 per diluted share for the
quarter ended September 30, 2015 and $0.55 for the quarter ended
December 31, 2014.
- Net interest income was $17.0 million for the quarter ended
December 31, 2015, compared to $17.3 million and $17.5 million for
the quarters ended September 30, 2015 and December 31, 2014,
respectively.
- Yield on interest-earning assets of 3.48% for the quarter ended
December 31, 2015 decreased 12 basis points compared to 3.60% for
the quarter ended September 30, 2015 and decreased 16 basis points
from 3.64% for the quarter ended December 31, 2014. Cost of funds
at 0.25% for the quarter ended December 31, 2015, increased 1 basis
point from 0.24% at September 30, 2015, and increased 3 basis
points from 0.22% for the quarter ended December 31, 2014.
- Negative loan loss provision for the quarter ended December 31,
2015 was $5.1 million, compared to negative provision of $22.4
million and $3.3 million for the quarters ended September 30, 2015
and December 31, 2014, respectively. The Company has experienced
recoveries in excess of charge-offs of $10.9 million over the past
five quarters, including $709,000 for the quarter ended December
31, 2015.
- Non-interest income was $7.8 million for the quarter ended
December 31, 2015, compared to $8.7 million and $9.0 million for
the quarters ended September 30, 2015 and December 31, 2014,
respectively. Non-interest income for the quarter ended September
30, 2015 and December 31, 2014, included gains of $832,000 and $2.4
million, respectively, from the sales of branch operations and
buildings.
- Non-interest expense was $18.1 million for the quarter ended
December 31, 2015, compared to $22.6 million and $24.6 million for
the quarters ended September 30, 2015 and December 31, 2014,
respectively. The Bank incurred one-time costs of $1.5 million
during the quarter ended September 30, 2015, consisting of early
lease termination expense. The completed operational efficiency
initiatives have reduced compensation, occupancy and other
operating costs during the quarter ended December 31, 2015.
Loans
- The Bank funded $181.2 million and $103.1 million of
commercial, consumer and residential loans held for investment in
the quarters ended December 31, 2015 and September 30, 2015,
respectively. In the last twelve months, the Bank originated $497.4
million in loans held for investment, demonstrating the continued
confidence that current and new customers have in the Company.
- Loans held for investment were $1.64 billion at December 31,
2015, an increase of $68.6 million, or 4.37%, from December 31,
2014. In the quarter ended December 31, 2015, the Bank purchased
$33.7 million of residential loans, consisting of 1-4 family
adjustable and fixed rate loans.
- Loans held for sale were $10.3 million at December 31, 2015, an
increase of $3.7 million from December 31, 2014.
Asset Quality
- Total non-performing loans decreased $19.8 million to $15.3
million at December 31, 2015, from $35.1 million at December 31,
2014.
- Total non-performing assets (total non-performing loans and
other real estate owned) decreased $35.0 million to $35.7 million,
or 1.59% of total assets, at December 31, 2015, from $70.6 million,
or 3.39% of total assets, at December 31, 2014.
- Other real estate owned (OREO) decreased $15.1 million to $20.4
million at December 31, 2015, from $35.5 million at December 31,
2014.
Deposits and Borrowings
- Deposits of $1.84 billion at December 30, 2015, increased $26.6
million from December 31, 2014.
- Borrowed funds of $12.6 million, decreased $1.2 million from
December 31, 2014.
Capital
- Book value per common share was $38.20 at December 31, 2015,
compared to $37.49 and $23.85 at September 30, 2015 and December
31, 2014, respectively.
- The Bank’s Tier 1 leverage capital ratio of 12.35% at December
31, 2015 is considered “well capitalized” under the regulatory
capital framework.
About Anchor BanCorp Wisconsin Inc.
Anchor Bancorp Wisconsin Inc, is the parent company for
AnchorBank, fsb a community-based financial services company
providing commercial, retail, mortgage, consumer finance and
investment services to businesses and individuals from 46 banking
locations throughout Wisconsin. Anchor Bancorp stock (ABCW) is
listed on the NASDAQ Global Market and Russell Global Indexes.
Visit AnchorBank online at www.anchorbank.com.
Conference Call
The Company will hold a conference call at 1:30 p.m. Central
Time on Friday, January 29, 2016 to discuss fourth quarter 2015 and
the fiscal year financial results. The live audio web cast of the
call, along with the corresponding presentation slides, will be
available on the Company's Investor Relations web page at
www.anchorbank.com and will be archived there for 12 months. A
replay of the call will also be available from 4:00 p.m. Central
Time on January 29 through February 29. To access the replay, dial
US Toll Free 1-877-344-7529, Conference ID Code 10079873.
Additional Information for Shareholders
Communications in this news release do not constitute an offer
to sell or the solicitation of an offer to buy any securities or a
solicitation of any vote or approval. In connection with the
proposed merger, Old National Bancorp will file with the Securities
and Exchange Commission ("SEC") a Registration Statement on Form
S-4 that will include a Proxy Statement of Anchor BanCorp Wisconsin
Inc. and a Prospectus of ONB, as well as other relevant documents
concerning the proposed transaction. Shareholders are urged to read
the Registration Statement and the Proxy Statement/Prospectus
regarding the merger when it becomes available and any other
relevant documents filed with the SEC, as well as any amendments or
supplements to those documents, because they will contain important
information. A free copy of the Proxy Statement/Prospectus, as well
as other filings containing information about ONB and Anchor, may
be obtained at the SEC's Internet site (http://www.sec.gov). You
will also be able to obtain these documents, free of charge, from
ONB at www.oldnational.com under the tab "Investor Relations" and
then under the heading "Financial Information" or from Anchor by
accessing Anchor's website at www.anchorbank.com under the tab
"About Us."
ONB and Anchor and certain of their directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the shareholders of Anchor in connection with the
proposed merger. Information about the directors and executive
officers of ONB is set forth in the proxy statement for ONB's 2015
annual meeting of shareholders, as filed with the SEC on a Schedule
14A on March 13, 2015. Information about the directors and
executive officers of Anchor is set forth in the proxy statement
for Anchor's 2015 annual meeting of shareholders, as filed with the
SEC on a Schedule14A on March 27, 2015. Additional information
regarding the interests of those participants and other persons who
may be deemed participants in the transaction may be obtained by
reading the Proxy Statement/Prospectus regarding the proposed
merger when it becomes available. Free copies of this release may
be obtained as described in the preceding paragraph.
Forward-Looking Statements
This news release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements include, but are not limited to,
statement about the expected timing, completion, financial benefits
and other effects of the proposed merger between ONB and Anchor.
Forward-looking statements can be identified by the use of the
words "anticipate," "believe," "expect," "intend," "could" and
"should," and other words of similar meaning. These forward-looking
statements express management's current expectations or forecasts
of future events and, by their nature, are subject to risks and
uncertainties and there are a number of factors that could cause
actual results to differ materially from those in such statements.
Factors that might cause such a difference include, but are not
limited to: expected cost savings, synergies and other financial
benefits from the proposed merger might not be realized within the
expected time frames and costs or difficulties relating to
integration matters might be greater than expected; the requisite
shareholder and regulatory approvals for the proposed merger might
not be obtained; satisfaction of other closing conditions; delay in
closing the proposed merger; the reaction to the transaction of the
companies' customers and employees; market, economic, operational,
liquidity, credit and interest rate risks associated with ONB's and
Anchor's businesses; competition; government legislation and
policies (including the impact of the Dodd-Frank Wall Street Reform
and Consumer Protection Act and its related regulations); ability
of ONB and Anchor to execute their respective business plans
(including integrating the ONB and Anchor businesses); changes in
the economy which could materially impact credit quality trends and
the ability to generate loans and gather deposits; failure or
circumvention of our internal controls; failure or disruption of
our information systems; significant changes in accounting, tax or
regulatory practices or requirements; new legal obligations or
liabilities or unfavorable resolutions of litigations; other
matters discussed in this new release and other factors identified
in ONB's or Anchor's Annual Report on Form 10-K and other periodic
filings with the SEC. These forward-looking statements are made
only as of the date of this news release, and neither ONB nor
Anchor undertakes an obligation to release revisions to these
forward-looking statements to reflect events or conditions after
the date of this news release.
|
|
|
|
|
|
|
|
|
|
|
Anchor BanCorp Wisconsin Inc. CONSOLIDATED
FINANCIAL SUMMARY (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended |
|
Year to Date |
|
Qtr Ended
12/15-12/14 |
($ in 000’s, except
share data) |
12/31/2015 |
|
9/30/2015 |
|
12/31/2014 |
|
12/31/2015 |
|
12/31/2014 |
|
Incr/(Decr) |
INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
Interest income |
$ |
18,167 |
|
|
$ |
18,418 |
|
|
$ |
18,550 |
|
|
$ |
73,210 |
|
|
$ |
75,580 |
|
|
|
(2 |
)% |
Interest expense |
|
1,152 |
|
|
|
1,132 |
|
|
|
1,049 |
|
|
|
4,429 |
|
|
|
4,344 |
|
|
|
10 |
% |
Net interest
income |
|
17,015 |
|
|
|
17,286 |
|
|
|
17,501 |
|
|
|
68,781 |
|
|
|
71,236 |
|
|
|
(3 |
)% |
Provision for loan
losses |
|
(5,086 |
) |
|
|
(22,410 |
) |
|
|
(3,281 |
) |
|
|
(29,496 |
) |
|
|
(4,585 |
) |
|
|
(55 |
)% |
Non-interest income: |
|
|
|
|
|
|
|
|
|
|
|
Service charges on deposits |
|
2,464 |
|
|
|
2,633 |
|
|
|
2,602 |
|
|
|
10,061 |
|
|
|
10,017 |
|
|
|
(5 |
)% |
Investment and insurance
commissions |
|
1,043 |
|
|
|
976 |
|
|
|
1,220 |
|
|
|
4,166 |
|
|
|
4,222 |
|
|
|
(15 |
)% |
Loan fees |
|
934 |
|
|
|
596 |
|
|
|
169 |
|
|
|
2,440 |
|
|
|
882 |
|
|
|
453 |
% |
Loan servicing income, net |
|
475 |
|
|
|
500 |
|
|
|
602 |
|
|
|
2,035 |
|
|
|
2,821 |
|
|
|
(21 |
)% |
Loan processing fee income |
|
263 |
|
|
|
352 |
|
|
|
239 |
|
|
|
1,241 |
|
|
|
844 |
|
|
|
10 |
% |
Net gain on sale of loans |
|
1,100 |
|
|
|
1,470 |
|
|
|
670 |
|
|
|
6,083 |
|
|
|
2,797 |
|
|
|
64 |
% |
Net gain (loss) on sale of
investments |
|
— |
|
|
|
— |
|
|
|
(37 |
) |
|
|
63 |
|
|
|
746 |
|
|
|
(100 |
)% |
Net gain on sale of OREO |
|
899 |
|
|
|
719 |
|
|
|
352 |
|
|
|
3,828 |
|
|
|
2,540 |
|
|
|
155 |
% |
Net gain (loss) on disposal of
premises and equipment |
|
(15 |
) |
|
|
359 |
|
|
|
1,411 |
|
|
|
1,676 |
|
|
|
1,328 |
|
|
|
N/M |
|
Net gain on sale of branch |
|
— |
|
|
|
538 |
|
|
|
991 |
|
|
|
986 |
|
|
|
991 |
|
|
|
(100 |
)% |
Other income |
|
609 |
|
|
|
578 |
|
|
|
743 |
|
|
|
2,392 |
|
|
|
3,331 |
|
|
|
(18 |
)% |
Total non-interest
income |
|
7,772 |
|
|
|
8,721 |
|
|
|
8,962 |
|
|
|
34,971 |
|
|
|
30,519 |
|
|
|
(13 |
)% |
Non-interest expense: |
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits |
|
9,830 |
|
|
|
10,843 |
|
|
|
11,483 |
|
|
|
45,831 |
|
|
|
44,256 |
|
|
|
(14 |
)% |
Net occupancy and equipment
expense |
|
1,446 |
|
|
|
2,338 |
|
|
|
2,560 |
|
|
|
8,968 |
|
|
|
10,412 |
|
|
|
(44 |
)% |
Data processing expense |
|
2,092 |
|
|
|
1,423 |
|
|
|
1,576 |
|
|
|
6,512 |
|
|
|
5,602 |
|
|
|
33 |
% |
OREO expense |
|
409 |
|
|
|
962 |
|
|
|
3,328 |
|
|
|
2,344 |
|
|
|
9,779 |
|
|
|
(88 |
)% |
Mortgage servicing rights
impairment (recovery) |
|
(267 |
) |
|
|
93 |
|
|
|
492 |
|
|
|
(595 |
) |
|
|
534 |
|
|
|
(154 |
)% |
Provision for unfunded
commitments |
|
(532 |
) |
|
|
258 |
|
|
|
(486 |
) |
|
|
17 |
|
|
|
(2,107 |
) |
|
|
(9 |
)% |
Professional fees |
|
310 |
|
|
|
549 |
|
|
|
794 |
|
|
|
1,899 |
|
|
|
3,413 |
|
|
|
(61 |
)% |
Lease termination expense |
|
— |
|
|
|
1,454 |
|
|
|
— |
|
|
|
1,454 |
|
|
|
— |
|
|
|
N/M |
|
Other expense |
|
4,861 |
|
|
|
4,632 |
|
|
|
4,874 |
|
|
|
18,507 |
|
|
|
19,819 |
|
|
|
(0 |
)% |
Total non-interest
expense |
|
18,149 |
|
|
|
22,552 |
|
|
|
24,621 |
|
|
|
84,937 |
|
|
|
91,708 |
|
|
|
(26 |
)% |
Net income before
taxes |
|
11,724 |
|
|
|
25,865 |
|
|
|
5,123 |
|
|
|
48,311 |
|
|
|
14,632 |
|
|
|
129 |
% |
Income tax expense (benefit) |
|
3,103 |
|
|
|
10,394 |
|
|
|
— |
|
|
|
(89,447 |
) |
|
|
10 |
|
|
|
N/M |
|
Net
income |
$ |
8,621 |
|
|
$ |
15,471 |
|
|
$ |
5,123 |
|
|
$ |
137,758 |
|
|
$ |
14,622 |
|
|
|
68 |
% |
SHARE DATA |
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
share |
$ |
0.91 |
|
|
$ |
1.62 |
|
|
$ |
0.55 |
|
|
$ |
14.57 |
|
|
$ |
1.60 |
|
|
|
65 |
% |
Cash dividends |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
— |
|
Book value |
$ |
38.20 |
|
|
$ |
37.49 |
|
|
$ |
23.85 |
|
|
$ |
38.20 |
|
|
$ |
23.85 |
|
|
|
60 |
% |
Average diluted shares
outstanding |
|
9,468,000 |
|
|
|
9,559,000 |
|
|
|
9,340,000 |
|
|
|
9,458,000 |
|
|
|
9,151,000 |
|
|
|
1 |
% |
KEY RATIOS AND DATA |
|
|
|
|
|
|
|
|
|
|
|
Yield on interest-earning
assets |
|
3.48 |
% |
|
|
3.60 |
% |
|
|
3.64 |
% |
|
|
3.59 |
% |
|
|
3.74 |
% |
|
|
(0.16 |
) |
Cost of funds |
|
0.25 |
% |
|
|
0.24 |
% |
|
|
0.22 |
% |
|
|
0.24 |
% |
|
|
0.23 |
% |
|
|
0.03 |
|
Net interest margin |
|
3.26 |
% |
|
|
3.38 |
% |
|
|
3.43 |
% |
|
|
3.37 |
% |
|
|
3.53 |
% |
|
|
(0.17 |
) |
Return on average
assets |
|
1.52 |
% |
|
|
2.79 |
% |
|
|
0.96 |
% |
|
|
6.36 |
% |
|
|
0.69 |
% |
|
|
0.56 |
|
Average equity to average
assets |
|
15.94 |
% |
|
|
15.49 |
% |
|
|
10.46 |
% |
|
|
13.56 |
% |
|
|
10.04 |
% |
|
|
5.48 |
|
Common Equity Tier 1
ratio (1) |
|
17.04 |
% |
|
|
18.63 |
% |
|
|
N/A |
|
|
|
17.04 |
% |
|
|
N/A |
|
|
|
N/A |
|
Tier 1 leverage
(1) |
|
12.35 |
% |
|
|
12.74 |
% |
|
|
10.43 |
% |
|
|
12.35 |
% |
|
|
10.43 |
% |
|
|
1.92 |
|
Tier 1 risk-based
capital (1) |
|
17.04 |
% |
|
|
18.63 |
% |
|
|
16.97 |
% |
|
|
17.04 |
% |
|
|
16.97 |
% |
|
|
0.07 |
|
Total capital ratio
(1) |
|
18.33 |
% |
|
|
19.93 |
% |
|
|
18.25 |
% |
|
|
18.33 |
% |
|
|
18.25 |
% |
|
|
0.08 |
|
|
|
|
N/A = not
applicable N/M = not meaningful (1) Capital ratios calculated
utilizing Basel III regulatory requirements effective January 1,
2015 for AnchorBank, fsb. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anchor BanCorp Wisconsin Inc. (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended Averages |
|
Ending Balances |
|
Ending Balances
12/15-12/14 |
($ in 000’s) |
12/31/2015 |
|
9/30/2015 |
|
12/31/2014 |
|
12/31/2015 |
|
12/31/2014 |
|
Incr(Decr) |
BALANCE SHEET |
|
|
|
|
|
|
|
|
|
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents |
$ |
166,363 |
|
|
$ |
144,166 |
|
|
$ |
195,093 |
|
|
$ |
75,267 |
|
|
$ |
147,273 |
|
|
|
(49 |
)% |
Investment securities |
|
356,798 |
|
|
|
350,711 |
|
|
|
293,577 |
|
|
|
357,015 |
|
|
|
294,599 |
|
|
|
21 |
% |
Loans held for sale |
|
9,031 |
|
|
|
13,607 |
|
|
|
5,608 |
|
|
|
10,323 |
|
|
|
6,594 |
|
|
|
57 |
% |
Loans held for
investment |
|
1,566,194 |
|
|
|
1,554,780 |
|
|
|
1,559,421 |
|
|
|
1,640,100 |
|
|
|
1,571,476 |
|
|
|
4 |
% |
Allowance for loan
losses |
|
(29,544 |
) |
|
|
(48,689 |
) |
|
|
(48,260 |
) |
|
|
(25,147 |
) |
|
|
(47,037 |
) |
|
|
47 |
% |
Loans held for investment, net |
|
1,536,650 |
|
|
|
1,506,091 |
|
|
|
1,511,161 |
|
|
|
1,614,953 |
|
|
|
1,524,439 |
|
|
|
6 |
% |
Other real estate owned,
net |
|
23,187 |
|
|
|
26,584 |
|
|
|
44,511 |
|
|
|
20,371 |
|
|
|
35,491 |
|
|
|
(43 |
)% |
Deferred tax asset,
net |
|
91,370 |
|
|
|
102,873 |
|
|
|
— |
|
|
|
90,620 |
|
|
|
— |
|
|
|
N/M |
|
Other assets |
|
78,012 |
|
|
|
77,333 |
|
|
|
77,081 |
|
|
|
79,949 |
|
|
|
73,983 |
|
|
|
8 |
% |
Total assets |
$ |
2,261,411 |
|
|
$ |
2,221,365 |
|
|
$ |
2,127,031 |
|
|
$ |
2,248,498 |
|
|
$ |
2,082,379 |
|
|
|
8 |
% |
Liabilities and Stockholders’ Equity: |
|
|
|
|
|
|
|
|
|
|
Non-interest bearing
deposits |
$ |
312,697 |
|
|
$ |
291,519 |
|
|
$ |
285,960 |
|
|
$ |
323,956 |
|
|
$ |
291,248 |
|
|
|
11 |
% |
Interest bearing
deposits |
|
1,545,479 |
|
|
|
1,543,212 |
|
|
|
1,582,144 |
|
|
|
1,516,768 |
|
|
|
1,522,923 |
|
|
|
(0 |
)% |
Total deposits |
|
1,858,176 |
|
|
|
1,834,731 |
|
|
|
1,868,104 |
|
|
|
1,840,724 |
|
|
|
1,814,171 |
|
|
|
0 |
|
Other borrowed funds |
|
14,175 |
|
|
|
13,860 |
|
|
|
14,982 |
|
|
|
12,562 |
|
|
|
13,752 |
|
|
|
(9 |
)% |
Other liabilities |
|
28,551 |
|
|
|
28,744 |
|
|
|
21,500 |
|
|
|
28,571 |
|
|
|
26,793 |
|
|
|
7 |
% |
Total liabilities |
|
1,900,902 |
|
|
|
1,877,335 |
|
|
|
1,904,586 |
|
|
|
1,881,857 |
|
|
|
1,854,716 |
|
|
|
1 |
% |
Total stockholders’ equity |
|
360,509 |
|
|
|
344,030 |
|
|
|
222,445 |
|
|
|
366,641 |
|
|
|
227,663 |
|
|
|
61 |
% |
Total liabilities &
stockholders’ equity |
$ |
2,261,411 |
|
|
$ |
2,221,365 |
|
|
$ |
2,127,031 |
|
|
$ |
2,248,498 |
|
|
$ |
2,082,379 |
|
|
|
8 |
% |
|
Quarter Ended |
|
Year-to-Date |
|
Qtr Ended
12/15-12/14 |
|
12/31/2015 |
|
9/30/2015 |
|
12/31/2014 |
|
12/31/2015 |
|
12/31/2014 |
|
Incr(Decr) |
KEY METRICS |
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
losses |
$ |
(5,086 |
) |
|
$ |
(22,410 |
) |
|
$ |
(3,281 |
) |
|
$ |
(29,496 |
) |
|
$ |
(4,585 |
) |
|
|
(55 |
)% |
Net charge-offs
(recoveries) |
|
(709 |
) |
|
|
(4,898 |
) |
|
|
(3,281 |
) |
|
|
(7,607 |
) |
|
|
13,560 |
|
|
|
78 |
% |
Ending allowance for loan
losses |
|
25,147 |
|
|
|
29,525 |
|
|
|
47,037 |
|
|
|
25,147 |
|
|
|
47,037 |
|
|
|
(47 |
)% |
Loans 30 to 89 days past
due |
|
8,154 |
|
|
|
7,735 |
|
|
|
8,892 |
|
|
|
8,154 |
|
|
|
8,892 |
|
|
|
(8 |
)% |
Non-performing loans
(NPLs) |
|
15,309 |
|
|
|
14,711 |
|
|
|
35,115 |
|
|
|
15,309 |
|
|
|
35,115 |
|
|
|
(56 |
)% |
Other real estate
owned |
|
20,371 |
|
|
|
24,612 |
|
|
|
35,491 |
|
|
|
20,371 |
|
|
|
35,491 |
|
|
|
(43 |
)% |
Non-performing assets |
|
35,680 |
|
|
|
39,323 |
|
|
|
70,606 |
|
|
|
35,680 |
|
|
|
70,606 |
|
|
|
(49 |
)% |
Non-performing assets to
total assets |
|
1.59 |
% |
|
|
1.76 |
% |
|
|
3.39 |
% |
|
|
1.59 |
% |
|
|
3.39 |
% |
|
|
(1.80 |
) |
Allowance for loan losses
to NPLs |
|
164.26 |
% |
|
|
200.70 |
% |
|
|
133.95 |
% |
|
|
164.26 |
% |
|
|
133.95 |
% |
|
|
30.31 |
|
Allowance for loan losses
to loans held for investment |
|
1.53 |
% |
|
|
1.91 |
% |
|
|
2.99 |
% |
|
|
1.53 |
% |
|
|
2.99 |
% |
|
|
(1.46 |
) |
Net charge-offs
(recoveries) to average assets |
|
(0.03 |
)% |
|
|
(0.22 |
)% |
|
|
(0.15 |
)% |
|
|
(0.35 |
)% |
|
|
0.64 |
% |
|
|
0.12 |
|
N/M = not
meaningful |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact: Emily Campbell, 608-252-1436
ANCHOR BANCORP WISCONSIN INC (NASDAQ:ABCW)
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