Anchor BanCorp Wisconsin Inc. Announces Third Quarter Results
Today Anchor BanCorp Wisconsin Inc. (ABCW) (Nasdaq:ABCW – News) announced its third quarter results indicating a net loss of $9.0 million, or $0.58 per common share, for the quarter ended December 31, 2009. This compares with a net loss of $72.0 million for the previous quarter and $167.1 million for the quarter ended December 31, 2008.
Net loss declined 95 percent from one year ago and 84 percent from the previous quarter. Loan loss provisions declined nearly 83 percent from the previous quarter and were down nearly 89 percent from a year ago. ABCW has entered into agreements with Badger Anchor Holdings, LLC (“Badger Holdings”), pursuant to which Badger Holdings will make an investment of up to 483,333,333 shares of common stock at $0.60 per share, for an aggregate equity investment of up to $290 million. In addition, Badger Holdings will extend a term loan of $110 million to ABCW. [Read the full article]
Daniel Reininga began Jan. 1 as executive vice president and chief operating officer, according to a filing with the Securities and Exchange Commission. In addition to a base salary of $160,000, Reininga will receive 11,900 shares of restricted stock, which will vest in five equal installments beginning Jan. 4, 2011. Reininga will continue to serve as vice chairman of the company's board of directors, to which he has belonged since 1994. His term is set to expire in 2011. While working at Lake Shore, he will also remain president of G.H. Graf Realty Corp. Inc., a real estate investment company in Dunkirk. As for yearly pay increases, bank President and CEO David Mancuso will receive a $9,000 pay raise for 2010, according to the same SEC filing. Mancuso, who earned $266,000 last year, is now set to receive $275,000 in base pay. The filing shows that Rachel Foley, the bank’s CFO, will get a pay boost of $6,000, bumping her salary from $130,000 last year to $136,000 this year. [Read the full article]
Flushing Financial Corporation (the “Company”) (Nasdaq:FFIC – News), the parent holding company for Flushing Savings Bank, FSB (the “Bank”), announced today that John R. Buran, President and Chief Executive Officer has been elected Vice Chairman of New York Bankers Association (NYBA) at the Organization’s Annual Meeting.
John R. Buran stated, “I want to thank the NYBA Board for their continued vote of confidence and also congratulate my fellow officers, Chairman Mark J. Czarnecki and Treasurer Martin A. Dietrich. [Read the full article]
Flushing Financial Corporation (the “Company”) (Nasdaq:FFIC – News), the parent holding company for Flushing Savings Bank, FSB (the “Bank”), today announced that, John R. Buran, the Company’s President and Chief Executive Officer, and David W. Fry, the Company’s Executive Vice President and Chief Financial Officer, will be attending the Sterne Agee 5th Annual Financial Services Symposium on Tuesday and Wednesday, February 9 and 10, 2010.
Mr. Buran will be participating in a Metro New York Trends panel discussion on Wednesday, February 10, 2010, starting at 10:45am Eastern Standard Time, lasting approximately 45 minutes. The panel discussion will be available by webcast at http://cc.talkpoint.com/snlf001/020910a_ke/?entity=13_E1DC70L. Mr. Buran and Mr. Fry will also be making presentations to individual institutional investors. [Read the full article]