Anchor Bancorp Wisconsin Inc. Announces Second Quarter Results

MADISON, Wis., Nov 7, 2008 (GlobeNewswire via COMTEX) -- Anchor BanCorp Wisconsin Inc. (ABCW:ABCWNews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) announced a net loss of $23.3 million for the quarter ended September 30, 2008. This compares to net income for the same quarter of the previous fiscal year of $9.3 million. For the six months ended September 30, 2008 the net loss is $17.8 million versus income of $19.2 million for the same period last year.

Loan loss provisions were $47.0 million for the quarter ended September 30, 2008. "This action was necessary due to the deterioration in a portion of our loan portfolio, driven primarily by the current condition of the real estate market and the challenges this presents to some of our borrowers," said Douglas J. Timmerman, President and CEO. "In addition to increasing our reserve level, we have a team working on a case-...
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