-
Anchor Reports $12.2M Loss for Quarter
Posted on February 5th, 2010 No commentsThe parent company of AnchorBank lost $12.2 million in the quarter ended Dec. 31 as it increased loan loss reserves again. CEO Chris Bauer noted that while the quarterly provision for loan losses remained high at almost $10.5 million, it was down $50.4 million from the previous quarter. Read the Milwaukee Journal Sentinel article.
-
Anchor CEO Steers Bank Toward Stability
Posted on January 3rd, 2010 No commentsChris Bauer, president and chief executive of Anchor BanCorp Wisconsin, said he hopes to steer the bank toward stability and growth in 2010 after a series of commercial loans went bad, causing federal regulators to intervene in 2009. Read the Wisconsin State Journal article.
-
Anchor Gets Notification from NASDAQ
Posted on December 10th, 2009 No commentsWith the stock of Anchor BanCorp Wisconsin Inc. trading for less than $1 since Oct. 21, the Madison-based bank holding company faces possible future delisting by the Nasdaq Stock Market, the Business Journal of Milwaukee reported.
-
Anchor Restructures to Move Forward
Posted on December 5th, 2009 No commentsLeaders of Anchor BanCorp Wisconsin, based in Madison, have taken a series of steps since January to shore up the 90-year-old thrift institution. They have strengthened the company’s structure and recruited executives with a variety of financial experience. Father and son Doug and Mark Timmerman had led the financial institution for many years. Read the Wisconsin State Journal article.
-
Anchor Ready for ‘Change in Strategic Direction’
Posted on December 5th, 2009 No comments“This is a major change in strategic direction. It’s a big turnaround story for the state,” said Chris Bauer, a former Milwaukee bank executive who came out of retirement last June to take over as president and CEO of Anchor BanCorp, of Anchor’s proposed deal that will make Badger Holdings its majority stockholder. Read more in the Wisconsin State Journal.
-
Anchor Agrees to Recapitalization Plan
Posted on December 1st, 2009 No commentsThe parent company of AnchorBank said it has entered into agreements with Badger Anchor Holdings LLC, which would invest up to $400 million in Anchor. Badger Anchor Holdings was organized by Badger Capital LLC. The private investment group is led by Steven D. Hovde, chief executive of Hovde Financal Inc. in Chicago, a firm with expertise in investments in financial institutions. Read the Milwaukee Journal Sentinel article.
-
Anchor Hires New First VP of Banking Operations
Posted on November 24th, 2009 No commentsMadison-based AnchorBank has hired Patricia Carlin to the newly created post of first vice president of banking operations and has established a business banking group that will be lead by AnchorBank veteran Linda Zimdars. Read more in the Business Journal.
-
Anchor Branches Fuel Royal CU Growth
Posted on November 21st, 2009 No commentsWhen President and CEO Charles Grossklaus joined the staff of Royal Credit Union in 1971, he was one of five employees. Now, when the acquisition of 11 AnchorBank branches in northwestern Wisconsin is finalized, the CU will have nearly 600 employees. Read more in the Eau Claire Leader-Telegram.
-
Anchor Sells 11 Branches to Royal CU
Posted on November 16th, 2009 No commentsThe parent company of AnchorBank plans to sell 11 branches in northwest Wisconsin to Royal Credit Union of Eau Claire. Royal will assume about $177 million in deposits and receive a corresponding amount in loans, real estate and other assets. Financial terms of the deal weren’t disclosed, the Milwaukee Journal Sentinel reported.
-
Anchor Loses $3.56 Per Share in Q2
Posted on November 13th, 2009 No commentsAnchor BanCorp Wisconsin Inc., of Madison, lost $3.56 per share in the second quarter, compared with a loss of $23.3 million, or $1.11 per share, in the same period in 2008, the Milwaukee Journal Sentinel reported.