Anchor BanCorp Wisconsin, parent of AnchorBank, late Friday reported a net loss of $71.9 million, or $3.56 per common share, for its second fiscal quarter ending Sept. 30, compared with a net loss of $23.3 million, or $1.11 per share, for the same period last year.
The Madison-based company said the main component of the most recent loss was a $60.9 million loan-loss provision. The results were also affected by other factors, including legal costs associated with increased foreclosure activity and a $7.1 million write-down in the value of other real estate owned property.
The bank reduced its charge-offs of non-performing assets to $29.7 million compared with $68.1 million in the first fiscal quarter.
Posted in Business on Friday, November 13, 2009 6:55 pm Updated: 6:59 pm. Anchor Bancorp Wisconsin, Anchorbank
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