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Anchor Completes Sale of Branches
Posted on July 28th, 2010 No commentsAnchorBank announced that the sale of its four Green Bay area branches to Nicolet National Bank is complete following the conversion of accounts over the weekend. The branches are in Ashwaubenon, Howard, De Pere and Bellevue, the Green Bay Press-Gazette reported. -
Hovde Brother Purchases Baltimore Bank
Posted on July 15th, 2010 No commentsA firm led by the brother of Steven Hovde — the Madison native who tried to invest in the struggling Anchor BanCorp Wisconsin — has purchased the assets of a failed Baltimore bank, the Wisconsin State Journal reported. -
Anchor Reports Net Loss of $177M for Year
Posted on July 6th, 2010 No commentsAnchor BanCorp Wisconsin Inc. reported a net loss of $26.6 million for the quarter ending March 31 and a net loss of $177.1 million for the year ending March 31, representing a loss of $8.97 per share for the year, according to the Appleton Post-Crescent. -
No TARP Payments Coming from Anchor, Ridgestone
Posted on June 27th, 2010 No commentsThe parent companies of Madison’s AnchorBank and Brookfield’s Ridgestone Bank are among more than 90 banking firms nationwide that haven’t been paying quarterly dividends on TARP funds they received from the U.S. Treasury, the Milwaukee Journal Sentinel reported. -
Anchor Bank on TARP Late List
Posted on June 19th, 2010 No commentsMadison, Wis.-based Anchor Bank is on a list of 91 banks that are behind in their repayment of loans from the feds under the Troubled Assets Relief Program or TARP, according to The Capital Times.
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Anchor Changes Timmerman’s Employment
Posted on June 4th, 2010 No commentsIn an SEC filing, Madison-based AnchorBank said it has terminated the employment agreements — but not the employment — of Mark Timmerman as executive vice president, general counsel and secretary of the bank holding company and president and chief operating officer of the bank. Read the Business Journal article.
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Anchor CFO Announces Aug. 31 Retirement
Posted on May 18th, 2010 No commentsDale Ringgenberg, CFO at Anchor BanCorp Wisconsin Inc., has announced his retirement effective Aug. 31. Ringgenberg joined Anchor is 1976 as a staff accountant and worked his way up to CFO in 2007, the Milwaukee Journal Sentinel reported.
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Anchor to Cut 70 Jobs, Sell Four Branches
Posted on May 6th, 2010 No commentsAnchorBank employees in the Madison area will lose their jobs as a result of the struggling bank’s latest cost-cutting move to sell four more of its 73 locations and cut 70 jobs, the Wisconsin State Journal reported.
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U.S. Bank, Anchor Renegotiate Credit Line
Posted on May 3rd, 2010 No commentsA new agreement between Anchor BanCorp Wisconsin Inc. and U.S. Bank extends the due date on Anchor’s $116.3 million line of credit through May 31, 2011, with no principal payments required before maturity. Read the Milwaukee Journal Sentinel story.
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Anchor Seeking Another Option
Posted on April 11th, 2010 No commentsNow that a plan to recapitalize Anchor Bank has fallen through, the state’s fourth-biggest bank is back to the drawing board. Anchor is working with a Wall Street firm to try to find a new investment deal, a buyer or other ways to raise capital, according to the Milwaukee Journal Sentinel.