Bank Mutual Corporation Reports Earnings for the Nine Months Ended September 30, 2009, and the Third Quarter of 2009

MILWAUKEE, Oct. 20 /PRNewswire-FirstCall/ -- Bank Mutual Corporation (Nasdaq: BKMU - News) reported net income for the nine months ended September 30, 2009, of $12.2 million or $0.26 per diluted share compared to $11.0 million or $0.23 per diluted share in the same period last year. Net income for the third quarter of 2009 was $1.2 million or $0.03 per diluted share compared to $1.6 million or $0.03 per diluted share in the same quarter last year. Results for the nine months ended September 30, 2009, were negatively impacted by a $1.6 million non-recurring special assessment from the Federal Deposit Insurance Corporation ("FDIC") that was recorded in the second quarter. The after tax impact of this special assessment was approximately $930,000 or $0.02 per diluted share. Net income for the nine months ended September 30, 2009 and 2008, represented a return on average assets ("ROA") of 0.47% and 0.41%, respectively, and a return on average equity ("ROE") of 4.05% and 3.51%, respectively. For the third quarters, net income represented an ROA of 0.14% and 0.18% in 2009 and 2008, respectively, and an ROE of 1.23% and 1.61% in the same periods, respectively.Michael T. Crowley, Jr., Chairman, President, and Chief Executive Officer of Bank Mutual Corporation ("Bank Mutual") commented, "Our third quarter performance was affected by deterioration in the value of certain commercial and investment real estate properties that secure several of our loans. Although the impact this development had on our earnings is a disappointmen...
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BANK MUTUAL CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Cautionary Statement This report contains various forward-looking statements concerning the Company's prospects that are based on the current expectations and beliefs of management. Forward-looking statements may contain words such as "anticipate," "believe," "estimate," "expect," "objective," "projection" and similar expressions or use of verbs in the future tense, are intended to identify forward-looking statements, and any discussions of periods after the date for which this report is filed, are also forward-looking statements. The statements contained herein and such future statements involve or may involve certain assumptions, risks and uncertainties, many of which are beyond the Company's control, that could cause its actual results and performance to differ materially from what is expected. In addition to the assumptions and other factors referenced specifically in connection with such statements, the following factors could impact the business and financial prospects of the Company: general economic conditions, including the significant instability of credit, lending, and financial markets; declines in the real estate market, which could affect both collateral values and loan activity; negative developments affecting particular borrowers, which could adversely impact loan repayments and collection; negative developments affecting particular investment and mortgage-related securities, which could adversely impact the fair value and/or cash flows from such securities; legislative and regulatory initiatives, including action taken, or that may be taken, in response to the current financial market crisis and/or which could negatively affect the rights of creditors; monetary and fiscal policies of the federal government; increased competition and/or disintermediation within the financial services industry; the effects of further ...
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Bank Mutual 3Q income dips

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Bank Mutual Corporation Announces Quarterly Cash Dividend and New Stock Repurchase Program

MILWAUKEE, Nov. 3 /PRNewswire-FirstCall/ -- Bank Mutual Corporation (Nasdaq: BKMU - News; "Bank Mutual") today announced that the Board of Directors has declared a quarterly cash dividend of $0.07 per share. The cash dividend will be payable December 1, 2009, to shareholders of record on November 13, 2009. The quarterly cash dividend of $0.07 is the thirty-sixth cash dividend paid by Bank Mutual since becoming a capital stock organization in November 2000.Michael T. Crowley, Jr., Chairman, President and Chief Executive Officer of Bank Mutual commented, "The Board set the dividend rate in light of an evolving regulatory environment that is becoming stricter, our results over the past several quarters, the current marketplace, and the desire to maintain a strong capital position."Since its conversion to a fully-shareholder owned company in October 2003, Bank Mutual has repurchased 35.6 million shares of its common stock. Only 24,700 shares remain to be repurchased under Bank Mutual's previous 1.0 million share authorization, which was announced on February 2, 2009. In view of the few shares remaining under the current stock repurchase program, Bank Mutual also announced that its board of directors approved a ninth stock repurchase program whereby the Company may repurchase up to 1.0 million shares of its common stock, which amount represents 2.2% of its currently outstanding shares. Repurchases may be made from time to time and will be effectuated through open market purchases, unsolicited negotiated transacti...
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BANK MUTUAL CORP Files SEC form 8-K, Results of Operations and Financial Condition

Show all filings for BANK MUTUAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for BANK MUTUAL CORP 22-Oct-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes on...
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Bank Mutual continues share repurchases

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BANK MUTUAL CORP Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for BANK MUTUAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for BANK MUTUAL CORP 3-Nov-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not...
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BANK MUTUAL CORP Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue44,024  46,702  51,603  48,264  Cost of Revenue10,524  11,520  13,114  14,431  Gross Profit -  35,182  38,489  33,833  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative16,629  18,475  16,358  15,906  Non Recurring -   -   -   -  Others4,975  557  3,594  (2,029)Total Operating Expenses -   -   -   -  Operating Income or Loss -  16,150  18,537  19,956  Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes11,896  16,150  18,537  19,957  Interest Expense9,879  9,781  9,679  9,898  Income Before Tax2,017  6,369  8,858  10,059  Income Tax Expense772  2,553  1,669  3,867  Minority Interest -  1  (1)1  Net Income From Continuing Ops1,245  3,817  7,188  6,192  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   - ...
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BANK MUTUAL CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Cautionary Statement This report contains various forward-looking statements concerning the Company's prospects that are based on the current expectations and beliefs of management. Forward-looking statements may contain words such as "anticipate," "believe," "estimate," "expect," "objective," "projection" and similar expressions or use of verbs in the future tense, are intended to identify forward-looking statements, and any discussions of periods after the date for which this report is filed, are also forward-looking statements. The statements contained herein and such future statements involve or may involve certain assumptions, risks and uncertainties, many of which are beyond the Company's control, that could cause its actual results and performance to differ materially from what is expected. In addition to the assumptions and other factors referenced specifically in connection with such statements, the following factors could impact the business and financial prospects of the Company: general economic conditions, including high rates of unemployment and the significant instability of credit, lending, and financial markets; declines in the real estate market, which could affect both collateral values and loan activity; negative developments affecting particular borrowers, which could adversely impact loan repayments and collection; negative developments affecting particular investment and mortgage-related securities, which could adversely impact the fair value and/or cash flows from such securities; legislative and regulatory initiatives, including action taken, or that may be taken, in response to the current financial market crisis and/or which could negatively affect the rights of creditors; monetary and fiscal policies of the federal government; increased competition and/or disintermediation within the financial services in...
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