HEWLETT, N.Y. - Anchor Bancorp Inc. said it may write down $25 million on interest-only securities in its investment portfolio because of recent declines in interest rates.
Except for reducing the portfolio's value, Anchor said the interest declines have had a positive effect on earnings at its principal subsidiary, Anchor Savings Bank.
In addition, the company said that the Office of Thrift Supervision has agreed to terminate its capital plan and all operating restrictions that regulators imposed on April 18, 1990. The capital plan was satisfied when Anchor complied with regulatory requirements for the three consecutive quarters ending March 31.
