By and large, smaller Minnesota banks—at least those with small real estate loan portfolios—seem to be weathering the credit crisis pretty well so far. They’re even lending money. Case in point is Wayzata-headquartered Anchor Bancorp, a $1.3 billion holding company with 17 Twin Cities locations. (Don’t confuse it with Anchor BanCorp Wisconsin, which has some offices within commuting distance of the Cities
According to Hawkins, who oversees the branches, Anchor Bancorp’s loan portfolio has grown 11 percent or $101 million from a year ago. Core earnings are 4 percent higher through October than they were at the same time the year before. And the bank company is continuing to turn a profit.
Anchor also appears to be well capitalized. At the end of September, it reported $119 million in capital, an increase of 10.4 percent or $11.2 million from a year ago. No bank runs here.