Anchor BanCorp’s diluted earnings per share were $0.30 for the quarter ended December 31, 2007, as compared to $0.48 for the same quarter of 2006. The company has reported that net income for the nine-month period ended December 31, 2007 decreased to $25.5 million from the net income of $30.7 million during the comparable period in 2006. Diluted earnings per share were $1.21 for the nine-month period as compared to $1.42 for the same period a year ago.
Douglas Timmerman, chairman of Anchor BanCorp Wisconsin, said: The decline in our net income for the quarter was driven by an increase in our provision for loan losses of $4.4 million. Reserves were increased in recognition of the challenging environment presented by the softening economy and downturn in the real estate market.
