Anchor Bancorp Reports Fourth Quarter and Fiscal 2018 Earnings
ANCHOR BANCORP (ANCB)
US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4220185
Company Research
Source: GlobeNewswire
LACEY, Wash., July 27, 2018 (GLOBE NEWSWIRE) -- Anchor Bancorp (NASDAQ:ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported net income of $1.2 million or $0.48 per diluted share, for the fourth quarter of its fiscal year ended June 30, 2018 compared to net income of $655,000 or $0.27 per diluted share for the same period last year. For the fiscal year ended June 30, 2018 the Company reported net income of $2.2 million or $0.90 per diluted share, compared to net income of $2.4 million or $0.97 per diluted share for the fiscal year ended June 30, 2017. The lower net income for the fiscal year ended June 30, 2018 compared to the prior fiscal year is due to a one-time revaluation adjustment to the Company's deferred tax asset to account for the future impact of lower corporate income tax rates as a result of the Tax Cuts and Job Acts that was enacted on December 22, 2017. The tax revaluation resulted in a $2.4 million increase in the Company's income tax ex
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