Wisconsin Banking Update
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AnchorBank Faces Debt Deadline
Posted on February 21st, 2009 No commentsThe parent company of AnchorBank, which received $110 million in federal Troubled Asset Relief Program funds about three weeks ago, has a debt problem that threatens the bank’s survival if it can’t be resolved. The company owes U.S. Bank $116 million, almost half of which is due March 2. The debt is secured by Anchor stock. Read the Milwaukee Journal Sentinel article.
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