MADISON, Wis., Aug. 5, 2014 (GLOBE NEWSWIRE) -- Anchor BanCorp Wisconsin Inc. today announced that its last remaining legacy regulatory enforcement action has been terminated as of July 31, 2014.
Both the Federal Reserve's Cease and Desist Order and the Office of the Comptroller of the Currency's Cease and Desist Order, as well as the Prompt Corrective Action Directive, have now been terminated following Anchor's successful $175 million recapitalization in 2013.
"The lifting of these legacy enforcement actions confirms Anchor's stunning turn-around and underlines that we are again open for business," said Chris Bauer, President & CEO of Anchor BanCorp and AnchorBank. "Our bank is firmly focused on the future, and we look forward to continuing to serve our customers and communities with distinction."
About Anchor BanCorp Wisconsin Inc.
AnchorBank, fsb has 54 offices, all of which are located in Wisconsin.
This news release contains certain forward-looking statements, as that term is defined in the U.S. federal securities laws. In the normal course of business, we, in an effort to help keep our shareholders and the public informed about our operations, may from time to time issue or make certain statements, either in writing or orally, that are or contain forward-looking statements. Generally, these statements relate to business plans or strategies, projections involving anticipated revenues, earnings, liquidity, capital levels, profitability or other aspects of operating results or other future developments in our affairs or the industry in which we conduct business. Although we believe that the anticipated results or other expectations reflected in our forward-looking statements are based on reasonable assumptions, we can give no assurance that those results or expectations will be attained. You should not put undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date they are made and we undertake no obligation to update them in light of new information or future events, except to the extent required by federal securities laws.
CONTACT: Jennifer Ranville, 608-252-8862
Source:Anchor BanCorp Wisconsin Inc.