Anchor BanCorp Wisconsin Inc. announces first quarter earnings

Business Wire, July 25, 1995

MADISON, Wis.--(BUSINESS WIRE)--July 25, 1995--Anchor BanCorp Wisconsin Inc. (NASDAQ ``ABCW'') reported today it earned $3.6 million for the first quarter of fiscal year 1996 ended June 30, 1995. This compares to net income of $3.4 million for the same quarter last year. Per share earnings increased to $.87 for the quarter ended June 30, 1995 from $.77 last year and book value increased to $28.64 per share from $24.95 per share last year. ``Despite the expected compression of our net interest margin, our income has increased due to our continued asset growth,'' commented Douglas J. Timmerman, President.

Assets grew 18.5% to $1.66 billion from $1.40 billion since June 30, 1994. $106 million of that growth was attributable to the merger of American Equity Bancorp into Anchor. The merger was completed on June 30, 1995. ``The acquisition of American Equity is a natural extension of our southern and central Wisconsin market area,'' said Timmerman.

Also, effective July 17, 1995, the Board of Directors approved repurchasing up to 5% (215,106 shares) of the outstanding stock. AnchorBank, S.S.B., Anchor BanCorp's wholly-owned subsidiary, has 32 full service offices and three loan origination only offices which are located primarily in southern and western Wisconsin.

For more information contact: William Klein, Vice President-Investor Relations at 608/252-1810 or Douglas J. Timmerman, President, at 608/252-8782. -0-

CONTACT: Anchor BanCorp Wisconsin Inc., Madison

William Klein or Douglas J. Timmerman, 608/252-8782