Anchor Bancorp Sample Contracts

Anchor Bancorp – ANCHOR BANCORP (October 29th, 2018)
Anchor Bancorp – ANCHOR BANCORP REPORTS FOURTH QUARTER AND FISCAL 2018 EARNINGS (July 27th, 2018)

Lacey, WA (July 27, 2018) - 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 expense and a reduction

Anchor Bancorp – AGREEMENT AND PLAN OF MERGER (July 18th, 2018)

AGREEMENT AND PLAN OF MERGER, dated as of July 17, 2018 (this "Agreement"), by and between FS Bancorp, Inc., a Washington corporation ("FS Bancorp"), and Anchor Bancorp, a Washington corporation ("Anchor", and together with FS Bancorp, the "Parties").

Anchor Bancorp – MUTUAL TERMINATION AGREEMENT (July 18th, 2018)

This Mutual Termination Agreement (the "Agreement") is entered into as of July 17, 2018 by and among Washington Federal, Inc. ("Washington Federal"), a Washington corporation, and Anchor Bancorp ("Anchor"), a Washington corporation.

Anchor Bancorp – ANCHOR BANCORP REPORTS NET INCOME OF $1.4 MILLION OR $0.57 PER DILUTED SHARE FOR THE THIRD FISCAL QUARTER OF 2018 (April 30th, 2018)

Lacey, WA (April 30, 2018) - Anchor Bancorp (NASDAQ - ANCB) ("Company"), the holding company for Anchor Bank ("Bank"), today reported third quarter earnings for its fiscal year ending June 30, 2018. For the quarter ended March 31, 2018, the Company reported a net income of $1.4 million or $0.57 per diluted share, compared to net income of $702,000 or $0.29 per diluted share for the quarter ended March 31, 2017.  For the nine months ended March 31, 2018, the Company reported net income of $1.0 million or $0.42 per diluted share, compared to net income of $1.7 million or $0.70 per diluted share for the same period last year.  The lower net income for the nine months ended March 31, 2018 as compared to the same period in the previous year was the result of a one-time revaluation adjustment to the Company's deferred tax asset to account for the future impact of lower corporate tax rates as a result of the Tax Cuts and Jobs Act that was enacted on December 22, 2017.  The tax revaluation res

Anchor Bancorp – AMENDMENT NO. 2 TO AGREEMENT AND PLAN OF MERGER (April 2nd, 2018)

This Amendment No. 2 (this "Amendment No. 2") to the Agreement and Plan of Merger dated as of April 11, 2017 (the "Agreement"), is made and entered into as of April 2, 2018, by and between Washington Federal, Inc., a Washington corporation ("Washington Federal"), and Anchor Bancorp, a Washington corporation ("Anchor", and together with Washington Federal, the "Parties" and each, a "Party").

Anchor Bancorp – ANCHOR BANCORP REPORTS NET LOSS OF $1.4 MILLION OR $0.58 PER DILUTED SHARE FOR THE SECOND FISCAL QUARTER OF 2018 (January 29th, 2018)

Lacey, WA (January 29, 2018) - Anchor Bancorp (NASDAQ - ANCB) ("Company"), the holding company for Anchor Bank ("Bank"), today reported second quarter earnings for its fiscal year ending June 30, 2018. For the quarter ended December 31, 2017, the Company reported a net loss of $1.4 million or $0.58 per diluted share, compared to net income of $420,000 or $0.17 per diluted share for the quarter ended December 31, 2016.  For the six months ended December 31, 2017, the Company reported a net loss of $359,000 or $0.15 per diluted share, compared to net income of $993,000 or $0.41 per diluted share for the same period last year.  The loss for the quarter was the result of a one-time revaluation adjustment to the Company's deferred tax asset to account for the future impact of lower corporate tax rates as a result of the Tax Cuts and Jobs Act that was enacted on December 22, 2017.  The tax revaluation resulted in a $2.4 million increase in the Company's income tax expense and a ($0.96) reduc

Anchor Bancorp – NEWS RELEASE FOR IMMEDIATE RELEASE NOVEMBER 17, 2017 ANCHOR BANCORP ANNOUNCES STOCK REPURCHASE PROGRAM (November 20th, 2017)

Lacey, Washington – November 17, 2017 – Anchor Bancorp ("Company") (NASDAQ: ANCB), the holding company for Anchor Bank ("Bank"), today announced that its Board of Directors has authorized the repurchase of up to 40,000 shares of the Company's common stock.  In connection with the stock repurchase plan, the Company's Board of Directors also adopted a pre-arranged stock trading plan for the purpose of repurchasing a limited number of shares of the Company's common stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934.  Repurchases under the Company's 10b5-1 plan will be administered through an independent broker.  Repurchases are subject to the requirements of the Securities and Exchange Commission as well as certain price, market volume and timing constraints specified in the plan.

Anchor Bancorp – ANCHOR BANCORP REPORTS NET INCOME OF $1.0 MILLION OR $0.43 PER DILUTED SHARE FOR THE FIRST FISCAL QUARTER OF 2018 (October 30th, 2017)

Lacey, WA (October 30, 2017) - Anchor Bancorp (NASDAQ - ANCB) ("Company"), the holding company for Anchor Bank ("Bank"), today reported first quarter earnings for its fiscal year ending June 30, 2018. For the quarter ended September 30, 2017, the Company reported net income of $1.0 million or $0.43 per diluted share, compared to net income of $573,000 or $0.24 per diluted share for the quarter ended September 30, 2016.

Anchor Bancorp – AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER (September 27th, 2017)

This Amendment No. 1 (this "Amendment") to the Agreement and Plan of Merger dated as of April 11, 2017 (the "Agreement"), is made and entered into as of September 27, 2017, by and between Washington Federal, Inc., a Washington corporation ("Washington Federal"), and Anchor Bancorp, a Washington corporation ("Anchor", and together with Washington Federal, the "Parties" and each, a "Party").

Anchor Bancorp – Washington Federal and Anchor Bancorp Announce Extension of Merger Agreement (September 27th, 2017)

SEATTLE AND LACEY, WASHINGTON – Washington Federal, Inc. ("Washington Federal") (NASDAQ: WAFD) and Anchor Bancorp ("Anchor") (NASDAQ: ANCB) announced today that they have mutually agreed to amend their merger agreement, that was entered into on April 11, 2017. The amendment extends from December 31, 2017 to June 30, 2018 the date after which either party can elect to terminate the agreement if the transaction contemplated by the agreement (the "Merger") has not yet been completed.

Anchor Bancorp – ANCHOR BANCORP REPORTS NET INCOME OF $702,000 OR $0.29 PER DILUTED SHARE FOR THE THIRD FISCAL QUARTER OF 2017 (April 24th, 2017)

Lacey, WA (April 24, 2017) - Anchor Bancorp (NASDAQ - ANCB) ("Company"), the holding company for Anchor Bank ("Bank"), today reported third quarter earnings for the fiscal year ending June 30, 2017. For the quarter ended March 31, 2017, the Company reported net income of $702,000 or $0.29 per diluted share, compared to net income of $101,000 or $0.04 per diluted share for the quarter ended March 31, 2016. For the nine months ended March 31, 2017, the Company reported net income of $1.7 million or $0.70 per diluted share, compared to net income of $160,000 or $0.07 per diluted share for the same period last year.

Anchor Bancorp – AGREEMENT AND PLAN OF MERGER (April 13th, 2017)

AGREEMENT AND PLAN OF MERGER, dated as of April 11, 2017 (this "Agreement"), by and between Washington Federal, Inc., a Washington corporation ("Washington Federal"), and Anchor Bancorp, a Washington corporation ("Anchor", and together with Washington Federal, the "Parties").

Anchor Bancorp – AMENDED AND RESTATED BYLAWS OF ANCHOR BANCORP (November 17th, 2016)
Anchor Bancorp – AMENDED AND RESTATED BYLAWS OF ANCHOR BANCORP (September 1st, 2016)
Anchor Bancorp – STANDSTILL AGREEMENT (September 1st, 2016)

THIS STANDSTILL AGREEMENT (the “Agreement”), dated this 29th day of August 2016, is by and among Anchor Bancorp, a Washington corporation (the “Company”), and its wholly owned subsidiary, Anchor Bank, a Washington State chartered savings bank (the “Bank,” and collectively with the Company, “Anchor”), Stilwell Activist Fund, L.P., Stilwell Activist Investments, L.P., Stilwell Partners, L.P., each a Delaware limited partnership, Stilwell Value LLC, a Delaware limited liability company, and Joseph Stilwell, an individual (collectively, “The Stilwell Group,” and each individually, a “Stilwell Group Member”).

Anchor Bancorp – ANCHOR BANCORP REPORTS FOURTH QUARTER AND FISCAL 2016 EARNINGS (July 27th, 2016)

Lacey, WA (July 27, 2016) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported net income of $335,000 or $0.14 per diluted share, for the fourth quarter of its fiscal year ended June 30, 2016 compared to net income of $624,000 or $0.25 per diluted share for the same period last year.  For the fiscal year ended June 30, 2016 the Company reported net income of $495,000 or $0.20 per diluted share, compared to net income of $9.8 million or $3.97 per diluted share for the fiscal year ended June 30, 2015, which included an $8.3 million tax benefit related to the reversal of the valuation allowance on deferred tax assets ("DTA").

Anchor Bancorp – ANCHOR BANCORP REPORTS RESULTS OF OPERATIONS FOR THE THIRD FISCAL QUARTER OF 2016 (April 25th, 2016)

Lacey, WA (April 25, 2016) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported third quarter earnings for the fiscal year ending June 30, 2016.  For the quarter ended March 31, 2016, the Company reported net income of $101,000 or $0.04 per diluted share, compared to net income of $305,000 or $0.12 per diluted share for the quarter ended March 31, 2015. For the nine months ended March 31, 2016, the Company reported net income of $160,000 or $0.07 per diluted share, compared to net income of $9.2 million or $3.72 per diluted share for the nine months ended March 31, 2015, which included an $8.3 million tax benefit related to the reversal of the valuation allowance on deferred tax assets ("DTA").

Anchor Bancorp – NEWS RELEASE FOR IMMEDIATE RELEASE MARCH 16, 2016 ANCHOR BANCORP PROVIDES ADDITIONAL INFORMATION ON STOCK REPURCHASE PROGRAM (March 16th, 2016)

Lacey, Washington – March 16, 2016 – Anchor Bancorp (“Company”) (NASDAQ: ANCB), the holding company for Anchor Bank (“Bank”), today provided additional information on its new stock repurchase program (the “2016 Plan”).  In particular, on July 28, 2015 the Company announced that its Board of Directors had authorized the repurchase of up to 127,500 shares of the Company’s common stock (the “2015 Plan”), which plan expired on February 1, 2016.  Prior to the expiration of the 2015 Plan, the Company had repurchased 50,000 shares of its common stock.  The 2016 Plan, announced on March 11, 2016, authorizes the repurchase of 77,500 shares of the Company’s common stock, which is the number of shares of common stock that were remaining under the 2015 Plan.  As previously disclosed, in connection with the 2016 Plan, the Company’s Board of Directors also adopted a pre-arranged stock trading plan for the purpose of repurchasing shares of the Company’s common stock in accordance with guidelines spec

Anchor Bancorp – NEWS RELEASE FOR IMMEDIATE RELEASE MARCH 11, 2016 ANCHOR BANCORP ANNOUNCES NEW STOCK REPURCHASE PROGRAM (March 11th, 2016)

Lacey, Washington – March 11, 2016 – Anchor Bancorp (“Company”) (NASDAQ: ANCB), the holding company for Anchor Bank (“Bank”), today announced that its Board of Directors has authorized the repurchase of up to 77,500 shares of the Company’s common stock.  The stock repurchase program follows the Company’s completion of a repurchase program in 2015 and its repurchase of 50,000 shares.  In connection with the additional stock repurchase plan, the Company’s Board of Directors also adopted a pre-arranged stock trading plan for the purpose of repurchasing shares of the Company’s common stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934.  Repurchases under the Company’s 10b5-1 plan will be administered through an independent broker.  Repurchases are subject to the requirements of the Securities and Exchange Commission as well as certain price, market volume and timing constraints specified in the plan.

Anchor Bancorp – AMENDED AND RESTATED BYLAWS OF ANCHOR BANCORP (February 3rd, 2016)
Anchor Bancorp – ANCHOR BANCORP REPORTS RESULTS OF OPERATIONS FOR THE SECOND FISCAL QUARTER OF 2016 (January 29th, 2016)

Lacey, WA (January 29, 2016) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported second quarter earnings for the fiscal year ending June 30, 2016.  For the quarter ended December 31, 2015, the Company reported a net loss of $286,000 or $0.12 per diluted share, compared to net income of $8.8 million or $3.55 per diluted share, which included an $8.3 million tax benefit related to the reversal of the valuation allowance on deferred tax assets ("DTA") for the same period last year.  For the six months ended December 31, 2015, the Company reported net income of $59,000 or $0.02 per diluted share, compared to net income of $8.9 million or $3.59 per diluted share for the same period last year.

Anchor Bancorp – AMENDED AND RESTATED BYLAWS OF ANCHOR BANCORP (December 10th, 2015)
Anchor Bancorp – STANDSTILL AGREEMENT (December 10th, 2015)

This Standstill Agreement (this “Agreement”) is made by and between Anchor Bancorp (“Anchor”), on the one hand, and Joel S. Lawson IV (“Lawson”) and Varonica S. Ragan (“Ragan”), on the other hand (Anchor, Lawson and Ragan are together collectively referred to as the “Parties”).  This Agreement supplements the Annual Meeting Agreement entered into between Anchor and Lawson on October 21, 2015 in connection with Anchor’s 2015 Annual Meeting of Shareholders (the “Annual Meeting Agreement”).  Capitalized terms used herein, but not otherwise defined, shall have the meaning ascribed to such terms in the Annual Meeting Agreement.

Anchor Bancorp – ANCHOR BANCORP 2015 EQUITY INCENTIVE PLAN INCENTIVE STOCK OPTION AWARD AGREEMENT (December 8th, 2015)

This Incentive Stock Option Award (“ISO”) is granted by Anchor Bancorp (“Company”) to [Name] (“Option Holder”) in accordance with the terms of this Incentive Stock Option Award Agreement (“Agreement”) and subject to the provisions of the Anchor Bancorp 2015 Equity Incentive Plan, as amended from time to time (“Plan”).  The Plan is incorporated herein by reference.  Capitalized terms included herein that are not defined in this Agreement shall have the meaning ascribed to them in the Plan.

Anchor Bancorp – ANCHOR BANCORP 2015 EQUITY INCENTIVE PLAN RESTRICTED STOCK AWARD AGREEMENT (December 8th, 2015)

This Restricted Stock Award (“Restricted Stock Award”) is granted by Anchor Bancorp (“Company”) to [Name] (“Grantee”) in accordance with the terms of this Restricted Stock Award Agreement (“Agreement”) and subject to the provisions of the Anchor Bancorp 2015 Equity Incentive Plan, as amended from time to time (“Plan”).  The Plan is incorporated herein by reference. Capitalized terms included herein that are not defined in this Agreement shall have the meaning ascribed to them in the Plan.

Anchor Bancorp – ANCHOR BANCORP 2015 EQUITY INCENTIVE PLAN RESTRICTED STOCK UNIT AWARD AGREEMENT (December 8th, 2015)

This Award of restricted stock units (“RSUs”) is granted by Anchor Bancorp  (“Company”) to [Name] (“Grantee”) in accordance with the terms of this Restricted Stock Unit Award Agreement (“Agreement”) and subject to the provisions of the Anchor Bancorp 2015 Equity Incentive Plan, as amended from time to time (“Plan”).  The Plan is incorporated herein by reference.  Capitalized terms included herein that are not defined in this Agreement shall have the meaning ascribed to them in the Plan.

Anchor Bancorp – ANCHOR BANCORP 2015 EQUITY INCENTIVE PLAN NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (December 8th, 2015)

This Non-Qualified Stock Option Award (“NQSO”) is granted by Anchor Bancorp (“Company”) to [Name] (“Option Holder”) in accordance with the terms of this Non-Qualified Stock Option Award Agreement (“Agreement”) and subject to the provisions of the Anchor Bancorp 2015 Equity Incentive Plan, as amended from time to time (“Plan”).  The Plan is incorporated herein by reference. Capitalized terms included herein that are not defined in this Agreement shall have the meaning ascribed to them in the Plan.

Anchor Bancorp – ANCHOR BANCORP REPORTS FIRST QUARTER FISCAL 2016 EARNINGS (October 28th, 2015)

Lacey, WA (October 28, 2015) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported first quarter earnings for the fiscal year ending June 30, 2016.  For the quarter ended September 30, 2015, the Company reported net income of $345,000 or $0.14 per diluted share, compared to net income of $113,000 or $0.05 per diluted share for the same period last year.

Anchor Bancorp – AGREEMENT IN CONNECTION WITH ANCHOR BANCORP ANNUAL MEETING (October 23rd, 2015)

This Agreement is made and entered into, as of October 21, 2015, in connection with the Anchor Bancorp 2015 Annual Meeting of Shareholders (“Annual Meeting”), by and between, Joel S. Lawson IV, an individual (“Mr. Lawson”), and Anchor Bancorp, a Washington corporation (“Anchor” or “the Company”). Mr. Lawson and Anchor are referred to collectively as the “parties”.

Anchor Bancorp – Anchor Bancorp Announces Annual Meeting Results and Agreement with Joel S. Lawson IV (October 23rd, 2015)

Lacey, WA (October 22, 2015) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the parent company for Anchor Bank (“Bank”), today announced that shareholders approved all proposals presented at the 2015 Annual Meeting of Shareholders (“Annual Meeting”) held on October 21, 2015 in Lacey, Washington and that all three management nominees for director were re-elected and that its other proposals were approved.  The Company also announced that in connection with the Annual Meeting it had entered into an agreement (“Agreement”) with Joel S. Lawson IV (“Mr. Lawson”) for the appointment of an additional director to the Boards of Directors of the Company and the Bank.  Mr. Lawson was not eligible to serve as a director pursuant to the Washington residency requirement contained in the Company’s bylaws; however, Mr. Lawson received approximately 67% of the outstanding shares of the Company, in favor of his election to the Board of Directors.  Consequently, the Board of Directors entered into an Agre

Anchor Bancorp – NEWS RELEASE FOR IMMEDIATE RELEASE JULY 28, 2015 ANCHOR BANCORP ANNOUNCES STOCK REPURCHASE PROGRAM (July 28th, 2015)

Lacey, Washington – July 28, 2015 – Anchor Bancorp (“Company”) (NASDAQ: ANCB), the holding company for Anchor Bank (“Bank”), today announced that its Board of Directors has authorized the repurchase of up to 127,500 shares of the Company’s common stock or 5% of the Company’s outstanding shares.  In connection with the stock repurchase plan, the Company’s Board of Directors also adopted a pre-arranged stock trading plan for the purpose of repurchasing a limited number of shares of the Company’s common stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934.  Repurchases under the Company’s 10b5-1 plan will be administered through an independent broker.  Repurchases are subject to the requirements of the Securities and Exchange Commission as well as certain price, market volume and timing constraints specified in the plan.

Anchor Bancorp – ANCHOR BANCORP REPORTS FOURTH QUARTER AND FISCAL 2015 EARNINGS (July 27th, 2015)

Lacey, WA (July 27, 2015) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported net income of $624,000 or $0.25 per diluted share, for the fourth quarter of its fiscal year ended June 30, 2015 compared to net income of $298,000 or $0.12 per diluted share for the same period last year.  For the fiscal year ended June 30, 2015 the Company reported net income of $9.8 million or $3.97 per diluted share, which includes an $8.2 million tax benefit related to the reversal of the valuation allowance on deferred tax assets ("DTA") compared to net income of $423,000 or $0.17 per diluted share for the fiscal year ended June 30, 2014.

Anchor Bancorp – ANCHOR BANCORP REPORTS SECOND QUARTER FISCAL 2015 EARNINGS (January 26th, 2015)

Lacey, WA (January 26, 2015) - Anchor Bancorp (NASDAQ - ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), today reported second quarter earnings for the fiscal year ending June 30, 2015.  For the quarter ended December 31, 2014, the Company reported net income of $8.8 million or $3.55 per diluted share, which includes an $8.3 million tax benefit related to the reversal of the valuation allowance on deferred tax assets ("DTA"), compared to net loss of $248,000 or $0.10 per diluted share for the same period last year.  For the six months ended December 31, 2014, the Company reported a net income of $8.9 million or $3.59 per diluted share, compared to net loss of $260,000 or $0.11 per diluted share for the same period last year.

Anchor Bancorp – SEVERANCE AGREEMENT AND RELEASE (January 22nd, 2015)

This Severance Agreement and Release (“Agreement”) is executed by and between Anchor Bank, 100 W. First  Street, Aberdeen, Washington and Gregory Schultz (hereinafter "Employee”) effective January 15, 2015.