AnchorBank reports $5M in net income

Anchor BanCorp Wisconsin, parent of Anchor Bank, reported positive results for the fifth straight quarter and announced that delinquent loans have dropped by a third over the past year. The company posted a net income of $5 million (55 cents/share) compared to net income of $113.3 million ($5.47/share) a year ago when the bank emerged from bankruptcy with $175 million in new capital. Assets increased from $2.1 billion to $2.2 billion year over year.

Nonperforming assets for the quarter ending Sept. 30 fell from $162.9 million (7.4% of assets) a year ago to $85.1 million, or 4% of all assets in 2014.

Anchor also announced it will add a State Street branch in early 2015.