Anchor Bancorp, the Lacey-based parent company of Anchor Bank, swung to a profit of $420,000 in the quarter, the company announced Thursday.
For its fiscal second quarter, Anchor earned $420,000, or 17 cents a share, compared with a net loss of $286,000 in the same quarter a year ago.
“We continue to focus on increasing our income and reducing expenses, which we believe will improve our efficiency ratio over time,” President and Chief executive Jerry Shaw said in a statement.
Anchor Bancorp’s stock, in the past 52 weeks, has traded between $22.61 a share and $27.50 a share. The stock closed at $26.05 Thursday.