Key Developments For Anchor Bancorp of Wisconsin Inc.
Anchor Bancorp of Wisconsin Inc. (ABCW.O) (Nasdaq)
Anchor BanCorp Wisconsin Inc. Announces Chris M. Bauer As New President And CEO
Anchor BanCorp Wisconsin Inc. announced that Chris M. Bauer is joining the Company as President and Chief Executive Officer (CEO) of Anchor BanCorp Wisconsin Inc. as well as the position of CEO of AnchorBank, fsb (the Bank). Mr. Bauer replaces Douglas J. Timmerman as President and CEO of Anchor BanCorp Wisconsin Inc., who earlier this year announced his intention to retire. Mr. Bauer replaces Mark D. Timmerman in his role as CEO of AnchorBank, fsb. Mr. Bauer also joins both ABCW and the Bank as a member of each Board of Directors.
Anchor BanCorp Wisconsin Inc. Reaches Agreement To Extend Loan Arrangement For One Year
Anchor BanCorp Wisconsin Inc. announced that it has entered into an agreement amending the terms of its outstanding line of credit with U.S. Bank. Under the terms of the amendment, the maturity date on the balance of the $116.3 million loan has been extended for a full year, and is now May 31, 2010, and no principal payment is due prior to the maturity date.
Anchor BanCorp Wisconsin Inc. To Streamline Operations With Consolidation Of Three Branches
Anchor BanCorp Wisconsin Inc. announced the closing of three branch offices on August 31, 2009, as part of an effort to operate as efficiently as possible during a challenging economic climate. The Company expects to save approximately $1 million in annual operating costs after the closings are completed. A total of 19 positions will be eliminated through the consolidation.
Anchor BanCorp Wisconsin Inc. Announces Amendment Of Loan Agreement
Anchor BanCorp Wisconsin Inc. announced an agreement to amend the terms of its outstanding line of credit with U.S. Bank. Under the terms of the amendment, the Company was not required to make a principal reduction on March 2, 2009. Also, under the terms of the amendment the balance of the $116.3 million loan is now due by May 29, 2009.
Anchor BanCorp Wisconsin Inc.'s Doug Timmerman Announces Intention To Step Down As Chairman And CEO
Anchor BanCorp Wisconsin Inc. announced that Doug Timmerman will step down as Chairman and Chief Executive Officer (CEO) sometime during the third quarter of calendar 2009. Timmerman will remain on the Board of Directors and will continue to perform consulting services for the duration of his current employment agreement.
