Third-quarter profit falls at Anchor Bancorp

The Lacey-based parent company of Anchor Bank on Monday reported a lower profit in its fiscal third-quarter earnings.

For the quarter, Anchor Bancorp’s profit fell to $101,000, or four cents a share, compared to a profit of $305,000, or 12 cents a share in the same quarter a year ago.

The lower quarterly profit can be partly attributed to nonperforming loans. Anchor Bancorp set aside $75,000 in the quarter as part of a loan-loss provision, which is treated as a charge against earnings. The company had no loan-loss provision in the same period a year ago.

Despite the lower profit, Anchor Bancorp, which trades under the ticker symbol ANCB, is trading at a 52-week high of $25 a share.

This story was originally published April 26, 2016 at 12:14 PM with the headline "Third-quarter profit falls at Anchor Bancorp."